ePlus (PLUS) 10-Q6 Aug 242025 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2024	Aug. 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q1
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		26,865,929

UNAUDITED CONSOLIDATED BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 349,909	$ 253,021
Accounts receivable-trade, net	577,019	644,616
Accounts receivable-other, net	54,987	46,884
Inventories	89,134	139,690
Financing receivables-net, current	109,119	102,600
Deferred costs	59,985	59,449
Other current assets	23,951	27,269
Total current assets	1,264,104	1,273,529
Financing receivables and operating leases-net	85,032	79,435
Deferred tax asset	5,620	5,620
Property, equipment, and other assets-net	94,417	89,289
Goodwill	161,508	161,503
Other intangible assets-net	40,292	44,093
TOTAL ASSETS	1,650,973	1,653,469
Current liabilities:
Accounts payable	270,614	315,676
Accounts payable-floor plan	119,511	105,104
Salaries and commissions payable	40,491	43,696
Deferred revenue	138,619	134,596
Non-recourse notes payable-current	29,898	23,288
Other current liabilities	29,103	34,630
Total current liabilities	628,236	656,990
Non-recourse notes payable - long-term	10,854	12,901
Other liabilities	89,955	81,799
TOTAL LIABILITIES	729,045	751,690
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; 26,940 outstanding at June 30, 2024 and 26,952 outstanding at March 31, 2024	276	274
Additional paid-in capital	184,733	180,058
Treasury stock, at cost, 609 shares at June 30, 2024 and 447 shares at March 31, 2024	(35,746)	(23,811)
Retained earnings	770,317	742,978
Accumulated other comprehensive income-foreign currency translation adjustment	2,348	2,280
Total Stockholders' Equity	921,928	901,779
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,650,973	$ 1,653,469

UNAUDITED CONSOLIDATED BALANC_2

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2024	Mar. 31, 2024
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)	26,940	26,952
Treasury stock, shares (in shares)	609	447

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Net sales
Total	$ 544,538	$ 574,175
Cost of sales
Total	410,057	431,902
Gross profit	134,481	142,273
Selling, general, and administrative	93,608	90,298
Depreciation and amortization	4,819	4,792
Interest and financing costs	585	851
Operating expenses	99,012	95,941
Operating income	35,469	46,332
Other income (expense), net	2,073	190
Earnings before tax	37,542	46,522
Provision for income taxes	10,203	12,675
Net earnings	$ 27,339	$ 33,847
Net earnings per common share-basic (in dollars per share)	$ 1.03	$ 1.27
Net earnings per common share-diluted (in dollars per share)	$ 1.02	$ 1.27
Weighted average common shares outstanding-basic (in shares)	26,642	26,552
Weighted average common shares outstanding-diluted (in shares)	26,801	26,648
Product [Member]
Net sales
Total	$ 466,349	$ 506,656
Cost of sales
Total	360,157	388,904
Services [Member]
Net sales
Total	78,189	67,519
Cost of sales
Total	$ 49,900	$ 42,998

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET EARNINGS	$ 27,339	$ 33,847
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Foreign currency translation adjustments	68	947
Other comprehensive income (loss)	68	947
TOTAL COMPREHENSIVE INCOME	$ 27,407	$ 34,794

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net earnings	$ 27,339	$ 33,847
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	5,922	5,755
Provision for credit losses	96	478
Share-based compensation expense	2,855	2,205
Loss (gain) on disposal of property, equipment, and operating lease equipment	54	(160)
Changes in:
Accounts receivable	59,276	(166,803)
Inventories	50,555	300
Financing receivables-net	(5,772)	(42,071)
Deferred costs and other assets	(3,160)	8,303
Accounts payable-trade	(45,430)	124,948
Salaries and commissions payable, deferred revenue, and other liabilities	5,392	12,298
Net cash provided by (used in) operating activities	97,127	(20,900)
Cash flows from investing activities:
Proceeds from sale of property, equipment, and operating lease equipment	61	196
Purchases of property, equipment, and operating lease equipment	(1,967)	(3,698)
Cash used in acquisitions, net of cash acquired	0	(59,595)
Net cash used in investing activities	(1,906)	(63,097)
Cash flows from financing activities:
Borrowings of non-recourse and recourse notes payable	3,737	97,955
Repayments of non-recourse and recourse notes payable	(4,467)	(41,573)
Proceeds from issuance of common stock	1,811	1,398
Repurchase of common stock	(11,569)	(7,465)
Payments to settle liabilities for acquisitions	(2,307)	0
Net borrowings on floor plan facility	14,407	32,290
Net cash provided by financing activities	1,612	82,605
Effect of exchange rate changes on cash	55	(127)
Net increase (decrease) in cash and cash equivalents	96,888	(1,519)
Cash and cash equivalents, beginning of period	253,021	103,093
Cash and cash equivalents, end of period	349,909	101,574
Supplemental disclosures of cash flow information:
Cash paid for interest	654	566
Cash paid for income taxes	10,130	3,605
Cash paid for amounts included in the measurement of lease liabilities	1,269	1,261
Schedule of non-cash investing and financing activities:
Proceeds from sale of property, equipment, and leased equipment	9	15
Purchases of property, equipment, and operating lease equipment	(641)	(200)
Borrowing of non-recourse and recourse notes payable	6,546	0
Debt derecognized due to sales of financial assets	(1,253)	(15,857)
Vesting of share-based compensation	10,636	8,483
Repurchase of common stock	(366)	(28)
New operating lease assets obtained in exchange for lease obligations	$ 395	$ 3,100

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, 2023	$ 272	$ 167,303	$ (14,080)	$ 627,202	$ 1,568	$ 782,265
Balance (in shares) at Mar. 31, 2023	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, 2024	$ 274	180,058	(23,811)	742,978	2,280	$ 901,779
Balance (in shares) at Mar. 31, 2024	26,952					26,952
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards	$ 1	(1)	0	0	0	$ 0
Issuance of restricted stock awards (in shares)	121
Issuance of common stock	$ 1	1,810	0	0	0	1,811
Issuance of common stock (in shares)	29
Share-based compensation	$ 0	2,866	0	0	0	2,866
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ (11,935)	0	0	(11,935)
Repurchase of common stock (in shares)			(162)
Net earnings	0	0	$ 0	27,339	0	27,339
Foreign currency translation adjustment	0	0	0	0	68	68
Balance at Jun. 30, 2024	$ 276	$ 184,733	$ (35,746)	$ 770,317	$ 2,348	$ 921,928
Balance (in shares) at Jun. 30, 2024	26,940					26,940

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Jun. 30, 2024
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 information technology ( “IT”) (“SLED”) 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 modified our technology segment into new segments — — Note 16 I NTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the three months ended June 30, 2024, and 2023, 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 three months ended June 30, 2024, and 2023, are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ended March 31, 2025, or any other future period. These unaudited consolidated financial statements do not include all disclosures required by the accounting principles generally accepted in the United States (“US GAAP”) for annual financial statements. Our audited consolidated financial statements are contained in our annual report on Form 10-K for the year ended March 31, 2024 (“2024 Annual Report”), which should be read in conjunction with these interim consolidated financial statements. 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 represented approximately 36% and 45% of our technology business segments net sales for the three months ended June 30, 2024, and 2023, 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, 2024, except for the changes provided in Note 2

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS	Jun. 30, 2024
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This update expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This update is effective for annual periods beginning in our fiscal year ending March 31, 2025 and interim periods beginning in the first quarter of our fiscal year ending March 31, 2026. Early adoption is permitted. We are currently evaluating the impact that this update will have on our financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This update requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. This update is effective for annual periods beginning in our fiscal year ending March 31, 2026. Early adoption is permitted. We are currently evaluating the impact that this update will have on our financial statement disclosures.

REVENUES

REVENUES	3 Months Ended
REVENUES	Jun. 30, 2024
REVENUES [Abstract]
REVENUES	3. REVENUES CONTRACT BALANCES Accounts receivable – trade consists entirely of amounts due from contracts with customers. In addition, we had $46.8 million and $44.6 million of receivables from contracts with customers included within financing receivables as of June 30, 2024, and March 31, 2024, respectively. The following table provides the balance of contract liabilities from contracts with customers (in thousands): June 30, 2024 March 31, 2024 Current (included in deferred revenue) $ 138,032 $ 134,110 Non-current (included in other liabilities) $ 76,896 $ 68,174 Revenue recognized from the beginning contract liability balance was $40.5 million and $30.9 million for the three months ended June 30, 2024, and 2023, 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, 2025 $ 68,956 Year ending March 31, 2026 45,452 Year ending March 31, 2027 26,529 Year ending March 31, 2028 10,718 Year ending March 31, 2029 and thereafter 7,166 Total remaining performance obligations $ 158,821 The table does not include the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts where we recognize revenue at the amount that we have the right to invoice for services performed.

FINANCING RECEIVABLES AND OPERA

FINANCING RECEIVABLES AND OPERATING LEASES	3 Months Ended
FINANCING RECEIVABLES AND OPERATING LEASES	Jun. 30, 2024
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]
FINANCING RECEIVABLES AND OPERATING LEASES	4. FINANCING RECEIVABLES AND OPERATING LEASES Our financing receivables and operating leases consist of our financing receivables from notes receivable and sales-type leases and the carrying value of our assets that we are leasing to our customers on leases that are classified as operating leases. We generally lease IT, communication, and medical equipment. Our lease terms generally range from 2 to 6 years, with most terms ranging between 3 to 4 years. Our leases often provide the lessee the option to purchase the underlying asset at the end of the lease term. Often, our leases provide the lessee a bargain purchase option. We classify our leases as either sales-type leases or operating leases. Additionally 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 months ended June 30, 2024, and 2023 (in thousands): Three Months Ended June 30, 2024 2023 Net sales $ 3,510 $ 7,623 Cost of sales 3,059 7,391 Gross profit $ 451 $ 232 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three months ended June 30, 2024, and 2023 (in thousands): Three Months Ended June 30, 2024 2023 Interest income on sales-type leases $ 2,023 $ 1,362 Lease income on operating leases $ 2,867 $ 2,808 FINANCING RECEIVABLES—NET The following tables provide a disaggregation of our financing receivables – net (in s): Notes Sales-Type Lease Financing June 30 2024 Receivable Receivables Receivables Gross receivables $ 119,544 $ 83,590 $ 203,134 Unguaranteed residual value (1) - 9,858 9,858 Unearned income (7,775 ) (13,620 ) (21,395 ) Allowance for credit losses (2) (1,088 ) (1,409 ) (2,497 ) Total, net $ 110,681 $ 78,419 $ 189,100 Reported as: Current $ 65,679 $ 43,440 $ 109,119 Long-term 45,002 34,979 79,981 Total, net $ 110,681 $ 78,419 $ 189,100 (1) Includes unguaranteed residual values of $3,554 thousand that we retained after selling the related lease receivable. (2) Refer to Note 7 Notes Sales-Type Lease Financing March 31 2024 Receivable Receivables Receivables Gross receivables $ 114,713 $ 75,658 $ 190,371 Unguaranteed residual value (1) - 9,078 9,078 Unearned income (6,503 ) (12,036 ) (18,539 ) Allowance for credit losses (2) (1,056 ) (1,435 ) (2,491 ) Total, net $ 107,154 $ 71,265 $ 178,419 Reported as: Current $ 61,830 $ 40,770 $ 102,600 Long-term 45,324 30,495 75,819 Total, net $ 107,154 $ 71,265 $ 178,419 (1) Includes unguaranteed residual values of $3,718 thousand 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): June 30, 2024 March 31, 2024 Cost of equipment under operating leases $ 12,370 $ 10,744 Accumulated depreciation (7,319 ) (7,128 ) Operating leases—net (1) $ 5,051 $ 3,616 (1) Amounts include estimated unguaranteed residual values of $1,711 thousand and $1,346 thousand as of June 30, 2024, and March 31, 2024, respectively. TRANSFERS OF FINANCIAL ASSETS We enter into arrangements to transfer the contractual payments due under financing receivables and operating lease agreements. For transfers accounted for as a secured borrowing, the corresponding investments serve as collateral for non-recourse notes payable. As of June 30, 2024, and March 31, 2024, we had financing receivables of $52.2 million and $45.8 million, respectively, and operating leases of $2.5 million and $2.8 million, respectively, which were collateral for non-recourse notes payable. See Note 8 For transfers accounted for as sales, we derecognize the carrying value of the financial asset transferred plus any liability and recognize a net gain or loss on the sale, which are presented within net sales in the consolidated statement of operations. During the three months ended June 30, 2024, and 2023, we recognized net gains of $1.3 million for both periods, and total proceeds from these sales were $47.9 million and $61.4 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 June 30, 2024, and March 31, 2024, we had deferred revenue of $0.3 million and $0.4 million, respectively, for servicing obligations. In a limited number of transfers accounted for as sales, we indemnified the assignee in the event that the lessee elects to early terminate the lease. As of June 30, 2024, and March 31, 2024, our total potential liability that could result from these indemnities is immaterial.

LESSEE ACCOUNTING

LESSEE ACCOUNTING	3 Months Ended
LESSEE ACCOUNTING	Jun. 30, 2024
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 recognize operating lease cost as part of selling, general and administrative expenses. We recognized operating lease cost of $1.3 million and $1.5 million for the three months ended June 30, 2024, and June 30, 2023, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS	Jun. 30, 2024
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 three months ended June 30, 2024 (in s): Product Professional Managed Total Balance, March 31, 2024 (1) $ 129,108 $ 22,497 $ 9,898 $ 161,503 Acquisitions - - - - Foreign currency translations 4 1 - 5 Balance, June 30, 2024 (1) $ 129,112 $ 22,498 $ 9,898 $ 161,508 (1) Balance is net of $8,673 thousand in accumulated impairments that were recorded in segments that preceded 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. The only activity in our goodwill balance over the three months ended June 30, 2024 was foreign currency translation adjustments. 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, 2023, we performed a qualitative assessment of goodwill and concluded that, more likely than not, the fair value of our product, professional services, and managed services reporting units continued to exceed their 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 Our other intangible assets consist of the following on June 30, 2024, and March 31, 2024 June 30, 2024 March 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Purchased intangibles $ 120,485 $ (80,350 ) $ 40,135 $ 120,480 $ (76,595 ) $ 43,885 Capitalized software development 10,159 (10,002 ) 157 10,516 (10,308 ) 208 Total $ 130,644 $ (90,352 ) $ 40,292 $ 130,996 $ (86,903 ) $ 44,093 Purchased intangibles, consisting mainly of customer relationships, are generally amortized between to years. over Total amortization expense for purchased intangibles $ million for the three months ended June 30, 2024, and June 30, 2023, respectively

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	3 Months Ended
ALLOWANCE FOR CREDIT LOSSES	Jun. 30, 2024
ALLOWANCE FOR CREDIT LOSSES [Abstract]
ALLOWANCE FOR CREDIT LOSSES	7. ALLOWANCE FOR CREDIT LOSSES The following table provides the activity in our allowance for credit losses for the three months ended June 30, 2024, and 2023 (in thousands): Accounts Receivable Notes Receivable Lease Receivables Total Balance as of April 1, 2024 $ 2,687 $ 1,056 $ 1,435 $ 5,178 Provision for credit losses 90 32 (26 ) 96 Write-offs and other (13 ) - - (13 ) Balance as of June 30, 2024 $ 2,764 $ 1,088 $ 1,409 $ 5,261 Accounts Receivable Notes Receivable Lease Receivables Total Balance as of April 1, 2023 $ 2,572 $ 801 $ 981 $ 4,354 Provision for credit losses 629 (106 ) (45 ) 478 Write-offs and other (13 ) 1 - (12 ) Balance as of June 30, 2023 $ 3,188 $ 696 $ 936 $ 4,820 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 June 30, 2024 (in thousands): Amortized cost basis by origination year ending March 31, 2025 2024 2023 2022 2021 2020 and prior Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 25,158 $ 48,541 $ 14,290 $ 1,858 $ 1,786 $ 24 $ 91,657 $ (26,831 ) $ 64,826 Average CQR 2,490 14,551 2,895 148 28 - 20,112 (3,302 ) 16,810 Total $ 27,648 $ 63,092 $ 17,185 $ 2,006 $ 1,814 $ 24 $ 111,769 $ (30,133 ) $ 81,636 Lease receivables: High CQR $ 15,363 $ 18,528 $ 8,750 $ 1,218 $ 946 $ 84 $ 44,889 $ (2,931 ) $ 41,958 Average CQR 6,298 14,816 8,373 1,732 164 2 31,385 (4,292 ) 27,093 Total $ 21,661 $ 33,344 $ 17,123 $ 2,950 $ 1,110 $ 86 $ 76,274 $ (7,223 ) $ 69,051 Total amortized cost (1) $ 49,309 $ 96,436 $ 34,308 $ 4,956 $ 2,924 $ 110 $ 188,043 $ (37,356 ) $ 150,687 (1) U thousand that we retained after selling the related lease receivable excluded from amortized cost. (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, 2024 (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 $ 63,934 $ 15,821 $ 3,440 $ 2,656 $ 30 $ - $ 85,881 $ (25,683 ) $ 60,198 Average CQR 18,715 3,260 302 52 - - 22,329 (3,476 ) 18,853 Total $ 82,649 $ 19,081 $ 3,742 $ 2,708 $ 30 $ - $ 108,210 $ (29,159 ) $ 79,051 Lease receivables: High CQR $ 22,123 $ 9,457 $ 1,341 $ 1,151 $ 100 $ 7 $ 34,179 $ (1,128 ) $ 33,051 Average CQR 22,861 9,548 2,133 259 2 - 34,803 (5,436 ) 29,367 Total $ 44,984 $ 19,005 $ 3,474 $ 1,410 $ 102 $ 7 $ 68,982 $ (6,564 ) $ 62,418 Total amortized cost (1) $ 127,633 $ 38,086 $ 7,216 $ 4,118 $ 132 $ 7 $ 177,192 $ (35,723 ) $ 141,469 (1) Unguaranteed residual values of $ thousand that we retained after selling the related lease receivable excluded from amortized cost. (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis. The following table provides an aging analysis of our financing receivables as of June 30, 2024 (in thousands): 31-60 Days Past 61-90 Days Past > 90 Days Past Due Total Past Due Current Total Billed Unbilled Amortized Notes receivable $ 174 $ 823 $ 1,153 $ 2,150 $ 7,302 $ 9,452 $ 102,317 $ 111,769 Lease receivables 281 522 1,852 2,655 5,191 7,846 68,428 76,274 Total $ 455 $ 1,345 $ 3,005 $ 4,805 $ 12,493 $ 17,298 $ 170,745 $ 188,043 The following table provides an aging analysis of our financing receivables as of March 31, 2024 (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 $ 1,251 $ 334 $ 2,484 $ 4,069 $ 9,337 $ 13,406 $ 94,804 $ 108,210 Lease receivables 1,174 284 2,213 3,671 4,691 8,362 60,620 68,982 Total $ 2,425 $ 618 $ 4,697 $ 7,740 $ 14,028 $ 21,768 $ 155,424 $ 177,192 Our financial assets on nonaccrual status were not significant as of June 30, 2024, and March 31, 2024.

NOTES PAYABLE AND CREDIT FACILI

NOTES PAYABLE AND CREDIT FACILITY	3 Months Ended
NOTES PAYABLE AND CREDIT FACILITY	Jun. 30, 2024
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 e 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 for which WFCDF acts as administrative agent and consists of a discretionary senior secured floor plan facility in favor of the Borrowers in the aggregate principal amount of up to $425.0 million, together with a sublimit for a revolving credit facility for up to $150.0 million. On March 10, 2023, the Borrowers entered into a Second Amendment to the credit agreement which amended the Credit Agreement to increase the maximum aggregate amount of principal available under the floor plan facility from $425.0 million to $500.0 million and increase the maximum aggregate amount of principal available under the Revolving Facility from $150.0 million to $200.0 million. Under the accounts payable floor plan facility, we had an outstanding balance of $119.5 million and $105.1 million as of June 30, 2024, and March 31, 2024 We use the floor plan to facilitate the purchase of inventory from designated suppliers. WFCDF pays our suppliers and provides us extended payment terms. We pay down the floor plan facility on three specified dates each month, generally 45 to 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 WFCDF U 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 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 June 30, 2024, and March 31, 2024 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. NON-RECOURSE NOTES PAYABLE Non-recourse notes payable consists of borrowings that, in the event of a default by a customer, the lender generally only has recourse against the customer, and the assets serving as collateral, but not against us. As of June 30, 2024, and March 31, 2024 June 30, 2024, and March 31, 2024

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2024
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 June 30, 2024, 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	3 Months Ended
EARNINGS PER SHARE	Jun. 30, 2024
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 months ended June 30, 2024, and 2023, respectively Three Months Ended June 30, 2024 2023 Net earnings attributable to common shareholders - basic and diluted $ 27,339 $ 33,847 Basic and diluted common shares outstanding: Weighted average common shares outstanding — basic 26,642 26,552 Effect of dilutive shares 159 96 Weighted average shares common outstanding — diluted 26,801 26,648 Earnings per common share - basic $ 1.03 $ 1.27 Earnings per common share - diluted $ 1.02 $ 1.27

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
STOCKHOLDERS' EQUITY	Jun. 30, 2024
STOCKHOLDERS' EQUITY [Abstract]
STOCKHOLDERS' EQUITY	11. STOCKHOLDERS’ EQUITY SHARE REPURCHASE PLAN On May 18, 2024, our board of directors authorized the repurchase of up to 1,250,000 shares of our outstanding common stock, over a 12-month period beginning May 28, 2024. 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. Under both authorized programs, purchases may be made from time to time in the open market, or in privately negotiated transactions, subject to availability and the plan terms. Any repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes. During the three months ended June 30, 2024 During the three months ended June 30, 2023

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
SHARE-BASED COMPENSATION	Jun. 30, 2024
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	12. SHARE-BASED COMPENSATION SHARE-BASED PLANS As of June 30, 2024, we had share-based awards outstanding under the following plans: (1) the 2017 Non-Employee Director Long-Term Incentive Plan (“2017 Director LTIP”) and (2) the 2021 Employee Long-Term Incentive Plan (“2021 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 three months ended June 30, 2024, we granted 437 restricted shares under the 2017 Director LTIP and 121,097 restricted shares under the 2021 Employee LTIP. For the three months ended June 30, 2023, we granted 862 restricted shares under the 2017 Director LTIP and 152,865 restricted shares under the 2021 Employee LTIP. The following table provides a summary of the nonvested restricted shares for the three months ended June 30, 2024: Number of Shares Weighted Average Grant-date Fair Value Nonvested April 1, 2024 308,411 $ 55.02 Granted 121,534 $ 72.69 Vested (145,201 ) $ 53.48 Forfeited (630 ) $ 55.94 Nonvested June 30 284,114 $ 63.37 PERFORMANCE STOCK UNITS Beginning with the fiscal year ended March 31, 2024 we granted Performance Stock Units (“PSUs”) to our executive officers under our 2021 Employee LTIP. The PSUs will vest based on the achievement of certain performance goals at the end of a three-year performance period. The PSUs represent the right to receive shares of our common stock at the time of vesting. The total number of PSUs that vest range from 0% to 200% of the target number of PSUs based on our achievement of certain performance targets. The following table provides a summary of the nonvested PSUs for the three months ended June 30, 2024: Number of Units Weighted Average Grant-date Fair Value Nonvested April 1, 2024 15,120 $ 61.17 Granted 19,415 $ 78.54 Nonvested June 30, 2024 34,535 $ 70.94 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 six-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. COMPENSATION EXPENSE The following table provides a summary of our total share-based compensation expense, including for restricted stock awards, PSUs, Three Months Ended June 30, 2024 2023 Equity-based compensation expense $ 2,855 $ 2,205 Income tax benefit (777 ) (600 ) We recognized the income tax benefit as a reduction to our provision for income taxes. As of June 30, 2024, the total unrecognized compensation expense related to non-vested restricted stock was $17.1 million, which is expected to be recognized over a weighted-average period of 36 months. We also provide our employees with a contributory 401(k) profit sharing plan , to which we may contribute from time to time at our sole discretion. Employer contributions to the 401(k) 401(k)

INCOME TAXES

INCOME TAXES	3 Months Ended
INCOME TAXES	Jun. 30, 2024
INCOME TAXES [Abstract]
INCOME TAXES	13. INCOME TAXES Our provision for income tax expense was $10.2 million for the three months ended June 30, 2024 June 30, 2024 . The effective tax rate for the three months ended June 30, 2024, and June 30, 2023, differed from the US federal statutory rate .

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS	Jun. 30, 2024
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 June 30, 2024, and March 31, 2024 Fair Value Measurement Using Recorded Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2024 Assets: Money market funds $ 283,187 $ 283,187 $ - $ - March 31, 2024 Assets: Money market funds $ 179,709 $ 179,709 $ - $ -

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	3 Months Ended
BUSINESS COMBINATIONS	Jun. 30, 2024
BUSINESS COMBINATIONS [Abstract]
BUSINESS COMBINATIONS	15. BUSINESS COMBINATIONS NETWORK SOLUTIONS GROUP (“NSG”) On April 30, 2023, our subsidiary, e Our sum for consideration transferred was $48.6 million consisting of $59.6 million paid in cash at closing minus $11.0 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 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 asset 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 asset of $30.0 million consists of customer relationships with an estimated useful life of seven years. The fair value of acquired accounts receivable equals the gross contractual amounts receivable. We expect to collect all acquired accounts receivable. 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 segments, 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.

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
SEGMENT REPORTING	Jun. 30, 2024
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 June 30, 2024 2023 Net Sales Product $ 457,312 $ 498,166 Professional services 37,279 35,556 Managed services 40,910 31,963 Financing 9,037 8,490 Total 544,538 574,175 Gross Profit Product 98,505 111,391 Professional services 15,455 14,724 Managed services 12,834 9,797 Financing 7,687 6,361 Total 134,481 142,273 Operating expenses Technology business 94,903 92,414 Financing 4,109 3,527 Total 99,012 95,941 Operating income Technology business 31,891 43,498 Financing 3,578 2,834 Total 35,469 46,332 Other income (expense), net 2,073 190 Earnings before tax $ 37,542 $ 46,522 Depreciation and amortization Technology business $ 4,819 $ 4,764 Financing - 28 Total $ 4,819 $ 4,792 Interest and financing costs Technology business $ - $ 550 Financing 585 301 Total $ 585 $ 851 Selected Financial Data - Statement of Cash Flow Purchases of property, equipment, and operating lease equipment Technology business $ 580 $ 2,785 Financing 1,387 913 Total $ 1,967 $ 3,698 The following tables provide a disaggregation of net sales by source and further disaggregates our revenue recognized from contracts with customers by timing and our position as principal or agent (in thousands): Three Months Ended June 30, 2024 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 453,802 $ 37,279 $ 40,910 $ 1,105 $ 533,096 Financing and other 3,510 - - 7,932 11,442 Total $ 457,312 $ 37,279 $ 40,910 $ 9,037 $ 544,538 Timing and position as principal or agent: Transferred at a point in time as principal $ 418,374 $ - $ - $ 1,105 $ 419,479 Transferred at a point in time as agent 35,428 - - - 35,428 Transferred over time as principal - 37,279 40,910 - 78,189 Total revenue from contracts with customers $ 453,802 $ 37,279 $ 40,910 $ 1,105 $ 533,096 Three Months Ended June 30, 2023 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 490,543 $ 35,556 $ 31,963 $ 1,290 $ 559,352 Financing and other 7,623 - - 7,200 14,823 Total $ 498,166 $ 35,556 $ 31,963 $ 8,490 $ 574,175 Timing and position as principal or agent: Transferred at a point in time as principal $ 452,382 $ - $ - $ 1,290 $ 453,672 Transferred at a point in time as agent 38,161 - - - 38,161 Transferred over time as principal - 35,556 31,963 - 67,519 Total revenue from contracts with customers $ 490,543 $ 35,556 $ 31,963 $ 1,290 $ 559,352 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 June 30, 2024 2023 Customer end market: Telecom, media & entertainment $ 117,553 $ 141,335 Technology 109,106 73,403 SLED 92,096 109,405 Healthcare 75,280 86,656 Financial services 49,725 65,690 All others 91,741 89,196 Net sales 535,501 565,685 Less: revenue from financing and other (3,510 ) (7,623 ) Total revenue from contracts with customers $ 531,991 $ 558,062 Type: Product Networking $ 234,740 $ 245,188 Cloud 137,231 172,044 Security 48,005 45,796 Collaboration 20,899 12,956 Other 16,437 22,182 Total product 457,312 498,166 Professional services 37,279 35,556 Managed services 40,910 31,963 Net sales 535,501 565,685 Less: revenue from financing and other (3,510 ) (7,623 ) Total revenue from contracts with customers $ 531,991 $ 558,062 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 are from the sales of off-lease equipment.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2024
Insider Trading Arrangements [Line Items]
Trading Arrangements, by Individual	false
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2024
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 modified our technology segment into new segments — — Note 16
INTERIM FINANCIAL STATEMENTS	I NTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the three months ended June 30, 2024, and 2023, 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 three months ended June 30, 2024, and 2023, are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ended March 31, 2025, or any other future period. These unaudited consolidated financial statements do not include all disclosures required by the accounting principles generally accepted in the United States (“US GAAP”) for annual financial statements. Our audited consolidated financial statements are contained in our annual report on Form 10-K for the year ended March 31, 2024 (“2024 Annual Report”), which should be read in conjunction with these interim consolidated financial statements.
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 represented approximately 36% and 45% of our technology business segments net sales for the three months ended June 30, 2024, and 2023, respectively.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	3 Months Ended
RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	Jun. 30, 2024
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
Recently Issued Accounting Pronouncements Not Yet Adopted	RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This update expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This update is effective for annual periods beginning in our fiscal year ending March 31, 2025 and interim periods beginning in the first quarter of our fiscal year ending March 31, 2026. Early adoption is permitted. We are currently evaluating the impact that this update will have on our financial statement disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. This update requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. This update is effective for annual periods beginning in our fiscal year ending March 31, 2026. Early adoption is permitted. We are currently evaluating the impact that this update will have on our financial statement disclosures.

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
REVENUES (Tables)	Jun. 30, 2024
REVENUES [Abstract]
Balance of Receivables, Contract Assets, and Contract Liabilities	The following table provides the balance of contract liabilities from contracts with customers (in thousands): June 30, 2024 March 31, 2024 Current (included in deferred revenue) $ 138,032 $ 134,110 Non-current (included in other liabilities) $ 76,896 $ 68,174
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, 2025 $ 68,956 Year ending March 31, 2026 45,452 Year ending March 31, 2027 26,529 Year ending March 31, 2028 10,718 Year ending March 31, 2029 and thereafter 7,166 Total remaining performance obligations $ 158,821

FINANCING RECEIVABLES AND OPE_2

FINANCING RECEIVABLES AND OPERATING LEASES (Tables)	3 Months Ended
FINANCING RECEIVABLES AND OPERATING LEASES (Tables)	Jun. 30, 2024
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 months ended June 30, 2024, and 2023 (in thousands): Three Months Ended June 30, 2024 2023 Net sales $ 3,510 $ 7,623 Cost of sales 3,059 7,391 Gross profit $ 451 $ 232 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three months ended June 30, 2024, and 2023 (in thousands): Three Months Ended June 30, 2024 2023 Interest income on sales-type leases $ 2,023 $ 1,362 Lease income on operating leases $ 2,867 $ 2,808
Notes Receivable Net and Investments in Leases	The following tables provide a disaggregation of our financing receivables – net (in s): Notes Sales-Type Lease Financing June 30 2024 Receivable Receivables Receivables Gross receivables $ 119,544 $ 83,590 $ 203,134 Unguaranteed residual value (1) - 9,858 9,858 Unearned income (7,775 ) (13,620 ) (21,395 ) Allowance for credit losses (2) (1,088 ) (1,409 ) (2,497 ) Total, net $ 110,681 $ 78,419 $ 189,100 Reported as: Current $ 65,679 $ 43,440 $ 109,119 Long-term 45,002 34,979 79,981 Total, net $ 110,681 $ 78,419 $ 189,100 (1) Includes unguaranteed residual values of $3,554 thousand that we retained after selling the related lease receivable. (2) Refer to Note 7 Notes Sales-Type Lease Financing March 31 2024 Receivable Receivables Receivables Gross receivables $ 114,713 $ 75,658 $ 190,371 Unguaranteed residual value (1) - 9,078 9,078 Unearned income (6,503 ) (12,036 ) (18,539 ) Allowance for credit losses (2) (1,056 ) (1,435 ) (2,491 ) Total, net $ 107,154 $ 71,265 $ 178,419 Reported as: Current $ 61,830 $ 40,770 $ 102,600 Long-term 45,324 30,495 75,819 Total, net $ 107,154 $ 71,265 $ 178,419 (1) Includes unguaranteed residual values of $3,718 thousand 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	The components of the operating leases—net are as follows (in thousands): June 30, 2024 March 31, 2024 Cost of equipment under operating leases $ 12,370 $ 10,744 Accumulated depreciation (7,319 ) (7,128 ) Operating leases—net (1) $ 5,051 $ 3,616 (1) Amounts include estimated unguaranteed residual values of $1,711 thousand and $1,346 thousand as of June 30, 2024, and March 31, 2024, respectively.

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	Jun. 30, 2024
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Changes in Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the three months ended June 30, 2024 (in s): Product Professional Managed Total Balance, March 31, 2024 (1) $ 129,108 $ 22,497 $ 9,898 $ 161,503 Acquisitions - - - - Foreign currency translations 4 1 - 5 Balance, June 30, 2024 (1) $ 129,112 $ 22,498 $ 9,898 $ 161,508 (1) Balance is net of $8,673 thousand in accumulated impairments that were recorded in segments that preceded our current segment organization.
Other Intangible Assets	Our other intangible assets consist of the following on June 30, 2024, and March 31, 2024 June 30, 2024 March 31, 2024 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Purchased intangibles $ 120,485 $ (80,350 ) $ 40,135 $ 120,480 $ (76,595 ) $ 43,885 Capitalized software development 10,159 (10,002 ) 157 10,516 (10,308 ) 208 Total $ 130,644 $ (90,352 ) $ 40,292 $ 130,996 $ (86,903 ) $ 44,093

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	3 Months Ended
ALLOWANCE FOR CREDIT LOSSES (Tables)	Jun. 30, 2024
ALLOWANCE FOR CREDIT LOSSES [Abstract]
Activity in Reserves for Credit Losses	The following table provides the activity in our allowance for credit losses for the three months ended June 30, 2024, and 2023 (in thousands): Accounts Receivable Notes Receivable Lease Receivables Total Balance as of April 1, 2024 $ 2,687 $ 1,056 $ 1,435 $ 5,178 Provision for credit losses 90 32 (26 ) 96 Write-offs and other (13 ) - - (13 ) Balance as of June 30, 2024 $ 2,764 $ 1,088 $ 1,409 $ 5,261 Accounts Receivable Notes Receivable Lease Receivables Total Balance as of April 1, 2023 $ 2,572 $ 801 $ 981 $ 4,354 Provision for credit losses 629 (106 ) (45 ) 478 Write-offs and other (13 ) 1 - (12 ) Balance as of June 30, 2023 $ 3,188 $ 696 $ 936 $ 4,820
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 June 30, 2024 (in thousands): Amortized cost basis by origination year ending March 31, 2025 2024 2023 2022 2021 2020 and prior Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 25,158 $ 48,541 $ 14,290 $ 1,858 $ 1,786 $ 24 $ 91,657 $ (26,831 ) $ 64,826 Average CQR 2,490 14,551 2,895 148 28 - 20,112 (3,302 ) 16,810 Total $ 27,648 $ 63,092 $ 17,185 $ 2,006 $ 1,814 $ 24 $ 111,769 $ (30,133 ) $ 81,636 Lease receivables: High CQR $ 15,363 $ 18,528 $ 8,750 $ 1,218 $ 946 $ 84 $ 44,889 $ (2,931 ) $ 41,958 Average CQR 6,298 14,816 8,373 1,732 164 2 31,385 (4,292 ) 27,093 Total $ 21,661 $ 33,344 $ 17,123 $ 2,950 $ 1,110 $ 86 $ 76,274 $ (7,223 ) $ 69,051 Total amortized cost (1) $ 49,309 $ 96,436 $ 34,308 $ 4,956 $ 2,924 $ 110 $ 188,043 $ (37,356 ) $ 150,687 (1) U thousand that we retained after selling the related lease receivable excluded from amortized cost. (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, 2024 (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 $ 63,934 $ 15,821 $ 3,440 $ 2,656 $ 30 $ - $ 85,881 $ (25,683 ) $ 60,198 Average CQR 18,715 3,260 302 52 - - 22,329 (3,476 ) 18,853 Total $ 82,649 $ 19,081 $ 3,742 $ 2,708 $ 30 $ - $ 108,210 $ (29,159 ) $ 79,051 Lease receivables: High CQR $ 22,123 $ 9,457 $ 1,341 $ 1,151 $ 100 $ 7 $ 34,179 $ (1,128 ) $ 33,051 Average CQR 22,861 9,548 2,133 259 2 - 34,803 (5,436 ) 29,367 Total $ 44,984 $ 19,005 $ 3,474 $ 1,410 $ 102 $ 7 $ 68,982 $ (6,564 ) $ 62,418 Total amortized cost (1) $ 127,633 $ 38,086 $ 7,216 $ 4,118 $ 132 $ 7 $ 177,192 $ (35,723 ) $ 141,469 (1) Unguaranteed residual values of $ thousand that we retained after selling the related lease receivable excluded from amortized cost. (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis.
Aging Analysis of Financing Receivables	The following table provides an aging analysis of our financing receivables as of June 30, 2024 (in thousands): 31-60 Days Past 61-90 Days Past > 90 Days Past Due Total Past Due Current Total Billed Unbilled Amortized Notes receivable $ 174 $ 823 $ 1,153 $ 2,150 $ 7,302 $ 9,452 $ 102,317 $ 111,769 Lease receivables 281 522 1,852 2,655 5,191 7,846 68,428 76,274 Total $ 455 $ 1,345 $ 3,005 $ 4,805 $ 12,493 $ 17,298 $ 170,745 $ 188,043 The following table provides an aging analysis of our financing receivables as of March 31, 2024 (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 $ 1,251 $ 334 $ 2,484 $ 4,069 $ 9,337 $ 13,406 $ 94,804 $ 108,210 Lease receivables 1,174 284 2,213 3,671 4,691 8,362 60,620 68,982 Total $ 2,425 $ 618 $ 4,697 $ 7,740 $ 14,028 $ 21,768 $ 155,424 $ 177,192

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
EARNINGS PER SHARE (Tables)	Jun. 30, 2024
EARNINGS PER SHARE [Abstract]
Reconciliation of Numerators and Denominators Used to Calculate Basic and Diluted Earnings per Common Share	The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net income per common share as disclosed on our unaudited consolidated statements of operations for the three months ended June 30, 2024, and 2023, respectively Three Months Ended June 30, 2024 2023 Net earnings attributable to common shareholders - basic and diluted $ 27,339 $ 33,847 Basic and diluted common shares outstanding: Weighted average common shares outstanding — basic 26,642 26,552 Effect of dilutive shares 159 96 Weighted average shares common outstanding — diluted 26,801 26,648 Earnings per common share - basic $ 1.03 $ 1.27 Earnings per common share - diluted $ 1.02 $ 1.27

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
SHARE-BASED COMPENSATION (Tables)	Jun. 30, 2024
SHARE-BASED COMPENSATION [Abstract]
Summary of Non-Vested Restricted Shares	The following table provides a summary of the nonvested restricted shares for the three months ended June 30, 2024: Number of Shares Weighted Average Grant-date Fair Value Nonvested April 1, 2024 308,411 $ 55.02 Granted 121,534 $ 72.69 Vested (145,201 ) $ 53.48 Forfeited (630 ) $ 55.94 Nonvested June 30 284,114 $ 63.37
Summary of Non-Vested Performance Stock Units	The following table provides a summary of the nonvested PSUs for the three months ended June 30, 2024: Number of Units Weighted Average Grant-date Fair Value Nonvested April 1, 2024 15,120 $ 61.17 Granted 19,415 $ 78.54 Nonvested June 30, 2024 34,535 $ 70.94
Summary of Share-Based Compensation Expenses	The following table provides a summary of our total share-based compensation expense, including for restricted stock awards, PSUs, Three Months Ended June 30, 2024 2023 Equity-based compensation expense $ 2,855 $ 2,205 Income tax benefit (777 ) (600 )

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	Jun. 30, 2024
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 June 30, 2024, and March 31, 2024 Fair Value Measurement Using Recorded Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30, 2024 Assets: Money market funds $ 283,187 $ 283,187 $ - $ - March 31, 2024 Assets: Money market funds $ 179,709 $ 179,709 $ - $ -

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	3 Months Ended
BUSINESS COMBINATIONS (Tables)	Jun. 30, 2024
BUSINESS COMBINATIONS [Abstract]
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 $ 20,419 Other assets 1,940 Identified intangible asset 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

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
SEGMENT REPORTING (Tables)	Jun. 30, 2024
SEGMENT REPORTING [Abstract]
Segment Reporting Information, by Reportable Segment	The following table provides reportable segment information (in thousands): Three Months Ended June 30, 2024 2023 Net Sales Product $ 457,312 $ 498,166 Professional services 37,279 35,556 Managed services 40,910 31,963 Financing 9,037 8,490 Total 544,538 574,175 Gross Profit Product 98,505 111,391 Professional services 15,455 14,724 Managed services 12,834 9,797 Financing 7,687 6,361 Total 134,481 142,273 Operating expenses Technology business 94,903 92,414 Financing 4,109 3,527 Total 99,012 95,941 Operating income Technology business 31,891 43,498 Financing 3,578 2,834 Total 35,469 46,332 Other income (expense), net 2,073 190 Earnings before tax $ 37,542 $ 46,522 Depreciation and amortization Technology business $ 4,819 $ 4,764 Financing - 28 Total $ 4,819 $ 4,792 Interest and financing costs Technology business $ - $ 550 Financing 585 301 Total $ 585 $ 851 Selected Financial Data - Statement of Cash Flow Purchases of property, equipment, and operating lease equipment Technology business $ 580 $ 2,785 Financing 1,387 913 Total $ 1,967 $ 3,698
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 disaggregates our revenue recognized from contracts with customers by timing and our position as principal or agent (in thousands): Three Months Ended June 30, 2024 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 453,802 $ 37,279 $ 40,910 $ 1,105 $ 533,096 Financing and other 3,510 - - 7,932 11,442 Total $ 457,312 $ 37,279 $ 40,910 $ 9,037 $ 544,538 Timing and position as principal or agent: Transferred at a point in time as principal $ 418,374 $ - $ - $ 1,105 $ 419,479 Transferred at a point in time as agent 35,428 - - - 35,428 Transferred over time as principal - 37,279 40,910 - 78,189 Total revenue from contracts with customers $ 453,802 $ 37,279 $ 40,910 $ 1,105 $ 533,096 Three Months Ended June 30, 2023 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 490,543 $ 35,556 $ 31,963 $ 1,290 $ 559,352 Financing and other 7,623 - - 7,200 14,823 Total $ 498,166 $ 35,556 $ 31,963 $ 8,490 $ 574,175 Timing and position as principal or agent: Transferred at a point in time as principal $ 452,382 $ - $ - $ 1,290 $ 453,672 Transferred at a point in time as agent 38,161 - - - 38,161 Transferred over time as principal - 35,556 31,963 - 67,519 Total revenue from contracts with customers $ 490,543 $ 35,556 $ 31,963 $ 1,290 $ 559,352
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 June 30, 2024 2023 Customer end market: Telecom, media & entertainment $ 117,553 $ 141,335 Technology 109,106 73,403 SLED 92,096 109,405 Healthcare 75,280 86,656 Financial services 49,725 65,690 All others 91,741 89,196 Net sales 535,501 565,685 Less: revenue from financing and other (3,510 ) (7,623 ) Total revenue from contracts with customers $ 531,991 $ 558,062 Type: Product Networking $ 234,740 $ 245,188 Cloud 137,231 172,044 Security 48,005 45,796 Collaboration 20,899 12,956 Other 16,437 22,182 Total product 457,312 498,166 Professional services 37,279 35,556 Managed services 40,910 31,963 Net sales 535,501 565,685 Less: revenue from financing and other (3,510 ) (7,623 ) Total revenue from contracts with customers $ 531,991 $ 558,062

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Segment	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
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	36%	45%

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended
REVENUES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Contract with Customer, Asset and Liability [Abstract]
Accounts receivable - trade	$ 46,800		$ 44,600
Current (included in deferred revenue)	138,032		134,110
Non-current (included in other liabilities)	76,896		$ 68,174
Revenue recognized from the beginning contract liability	40,500	$ 30,900
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	158,821
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 68,956
Expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 45,452
Expected timing of satisfaction, period	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	$ 26,529
Expected timing of satisfaction, period	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	$ 10,718
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 7,166
Expected timing of satisfaction, period

FINANCING RECEIVABLES AND OPE_3

FINANCING RECEIVABLES AND OPERATING LEASES (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2024		Jun. 30, 2023	Mar. 31, 2024		Mar. 31, 2023
Profit Recognized for Sales-type Leases [Abstract]
Net sales		$ 3,510		$ 7,623
Cost of sales		3,059		7,391
Gross profit		451		232
Interest Income on Sales-type Leases [Abstract]
Interest income on sales-type leases		2,023		1,362
Lease income on operating leases		2,867		2,808
Financing Receivables [Abstract]
Unguaranteed residual value		3,554			$ 3,718
Allowance for credit losses		(5,261)		(4,820)	(5,178)		$ (4,354)
Reported as [Abstract]
Current		109,119			102,600
Unguaranteed residual value for sales-type leases		3,554			3,718
Investment in Operating Lease Equipment - Net [Abstract]
Cost of equipment under operating leases		12,370			10,744
Accumulated depreciation		(7,319)			(7,128)
Operating lease-net	[1]	5,051			3,616
Unguaranteed residual value of operating lease equipment net		1,711			1,346
Transfers of Financial Assets [Abstract]
Gain on sale of financing receivables		1,300		1,300
Proceeds from sale of financing receivables		47,900		61,400
Deferred revenue for servicing obligation		300			400
Notes Payable [Member] \| Asset Pledged as Collateral [Member] \| Nonrecourse [Member]
Transfers of Financial Assets [Abstract]
Financing receivables		52,200			45,800
Operating leases		2,500			2,800
Notes Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		119,544			114,713
Unguaranteed residual value		0	[2]		0	[3]
Unearned income		(7,775)			(6,503)
Allowance for credit losses		(1,088)	[4]	(696)	(1,056)	[4]	(801)
Total, net		110,681			107,154
Reported as [Abstract]
Current		65,679			61,830
Long-term		45,002			45,324
Total, net		110,681			107,154
Lease Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		83,590			75,658
Unguaranteed residual value		9,858	[2]		9,078	[3]
Unearned income		(13,620)			(12,036)
Allowance for credit losses		(1,409)	[4]	$ (936)	(1,435)	[4]	$ (981)
Total, net		78,419			71,265
Reported as [Abstract]
Current		43,440			40,770
Long-term		34,979			30,495
Total, net		78,419			71,265
Financing Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		203,134			190,371
Unguaranteed residual value		9,858	[2]		9,078	[3]
Unearned income		(21,395)			(18,539)
Allowance for credit losses	[4]	(2,497)			(2,491)
Total, net		189,100			178,419
Reported as [Abstract]
Current		109,119			102,600
Long-term		79,981			75,819
Total, net		$ 189,100			$ 178,419
Minimum [Member]
Financing Receivable and Operating Leases [Abstract]
Financing receivables and operating leases term		2 years
Financing receivables and operating leases, term range		3 years
Maximum [Member]
Financing Receivable and Operating Leases [Abstract]
Financing receivables and operating leases term		6 years
Financing receivables and operating leases, term range		4 years

[1]Amounts include estimated unguaranteed residual values of $1,711 thousand and $1,346 thousand as of June 30, 2024, and March 31, 2024, respectively.[2]Includes unguaranteed residual values of $3,554 thousand that we retained after selling the related lease receivable.[3]Includes unguaranteed residual values of $3,718 thousand that we retained after selling the related lease receivable.[4]Refer to Note 7

LESSEE ACCOUNTING (Details)

LESSEE ACCOUNTING (Details) - USD ($) $ in Millions	3 Months Ended
LESSEE ACCOUNTING (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023
Lessee, Operating Lease [Abstract]
Operating lease cost	$ 1.3	$ 1.5
Office Building [Member] \| Maximum [Member]
Lessee, Operating Lease [Abstract]
Operating lease term	6 years
Warehouse [Member] \| Maximum [Member]
Lessee, Operating Lease [Abstract]
Operating lease term	10 years

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, Goodwill (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill	$ 161,503	[1]
Acquisitions	0
Foreign currency translations	5
Goodwill	161,508	[1]
Accumulated impairments	$ 8,673
Percentage change in the fair value	10%
Product [Member]
Goodwill [Roll Forward]
Goodwill	$ 129,108	[1]
Acquisitions	0
Foreign currency translations	4
Goodwill	129,112	[1]
Professional Services [Member]
Goodwill [Roll Forward]
Goodwill	22,497	[1]
Acquisitions	0
Foreign currency translations	1
Goodwill	22,498	[1]
Managed Services [Member]
Goodwill [Roll Forward]
Goodwill	9,898	[1]
Acquisitions	0
Foreign currency translations	0
Goodwill	$ 9,898	[1]

[1]Balance is net of $8,673 thousand in accumulated impairments that were recorded in segments that preceded our current segment organization.

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024
Other Intangible Assets [Abstract]
Gross carrying amount	$ 130,644		$ 130,996
Accumulated amortization	(90,352)		(86,903)
Net carrying amount	40,292		44,093
Purchased Intangibles [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	120,485		120,480
Accumulated amortization	(80,350)		(76,595)
Net carrying amount	40,135		43,885
Total amortization expense	$ 3,800	$ 3,500
Purchased Intangibles [Member] \| Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	5 years
Purchased Intangibles [Member] \| Maximum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	10 years
Capitalized Software Development [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	$ 10,159		10,516
Accumulated amortization	(10,002)		(10,308)
Net carrying amount	$ 157		$ 208
Capitalized Software Development [Member] \| Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	5 years

ALLOWANCE FOR CREDIT LOSSES, Ac

ALLOWANCE FOR CREDIT LOSSES, Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024		Jun. 30, 2023
Activity in reserves for credit losses [Roll Forward]
Balance	$ 5,178		$ 4,354
Provision for credit losses	96		478
Write-offs and other	(13)		(12)
Balance	5,261		4,820
Accounts Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	2,687		2,572
Provision for credit losses	90		629
Write-offs and other	(13)		(13)
Balance	2,764		3,188
Notes Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	1,056	[1]	801
Provision for credit losses	32		(106)
Write-offs and other	0		1
Balance	1,088	[1]	696
Lease Receivables [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	1,435	[1]	981
Provision for credit losses	(26)		(45)
Write-offs and other	0		0
Balance	$ 1,409	[1]	$ 936

[1]Refer to Note 7

ALLOWANCE FOR CREDIT LOSSES, Am

ALLOWANCE FOR CREDIT LOSSES, Amortized Cost Basis (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2024		Mar. 31, 2024
Credit Risk Profile, Segregated by Class [Abstract]
2025/2024		$ 49,309	[1]	$ 127,633	[2]
2024/2023		96,436	[1]	38,086	[2]
2023/2022		34,308	[1]	7,216	[2]
2022/2021		4,956	[1]	4,118	[2]
2021/2020		2,924	[1]	132	[2]
2020/2019 and prior		110	[1]	7	[2]
Total		188,043	[1]	177,192	[2]
Transfers	[3]	(37,356)	[1]	(35,723)	[2]
Net credit exposure		150,687	[1]	141,469	[2]
Unguaranteed residual value		$ 3,554		3,718
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]
2025/2024		$ 27,648		82,649
2024/2023		63,092		19,081
2023/2022		17,185		3,742
2022/2021		2,006		2,708
2021/2020		1,814		30
2020/2019 and prior		24		0
Total		111,769		108,210
Transfers	[3]	(30,133)		(29,159)
Net credit exposure		81,636		79,051
Unguaranteed residual value		0	[4]	0	[5]
Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2025/2024		21,661		44,984
2024/2023		33,344		19,005
2023/2022		17,123		3,474
2022/2021		2,950		1,410
2021/2020		1,110		102
2020/2019 and prior		86		7
Total		76,274		68,982
Transfers	[3]	(7,223)		(6,564)
Net credit exposure		69,051		62,418
Unguaranteed residual value		$ 9,858	[4]	9,078	[5]
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]
2025/2024		$ 25,158		63,934
2024/2023		48,541		15,821
2023/2022		14,290		3,440
2022/2021		1,858		2,656
2021/2020		1,786		30
2020/2019 and prior		24		0
Total		91,657		85,881
Transfers	[3]	(26,831)		(25,683)
Net credit exposure		64,826		60,198
High CQR [Member] \| Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2025/2024		15,363		22,123
2024/2023		18,528		9,457
2023/2022		8,750		1,341
2022/2021		1,218		1,151
2021/2020		946		100
2020/2019 and prior		84		7
Total		44,889		34,179
Transfers	[3]	(2,931)		(1,128)
Net credit exposure		$ 41,958		33,051
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]
2025/2024		$ 2,490		18,715
2024/2023		14,551		3,260
2023/2022		2,895		302
2022/2021		148		52
2021/2020		28		0
2020/2019 and prior		0		0
Total		20,112		22,329
Transfers	[3]	(3,302)		(3,476)
Net credit exposure		16,810		18,853
Average CQR [Member] \| Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2025/2024		6,298		22,861
2024/2023		14,816		9,548
2023/2022		8,373		2,133
2022/2021		1,732		259
2021/2020		164		2
2020/2019 and prior		2		0
Total		31,385		34,803
Transfers	[3]	(4,292)		(5,436)
Net credit exposure		$ 27,093		$ 29,367

[1] U thousand that we retained after selling the related lease receivable excluded from amortized cost. Unguaranteed residual values of $ thousand that we retained after selling the related lease receivable excluded from amortized cost. Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis.

ALLOWANCE FOR CREDIT LOSSES, Ag

ALLOWANCE FOR CREDIT LOSSES, Aging Analysis (Details) - USD ($) $ in Thousands	Jun. 30, 2024		Mar. 31, 2024
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	$ 17,298		$ 21,768
Unbilled	170,745		155,424
Total	188,043	[1]	177,192	[2]
Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	9,452		13,406
Unbilled	102,317		94,804
Total	111,769		108,210
Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	7,846		8,362
Unbilled	68,428		60,620
Total	76,274		68,982
Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	4,805		7,740
Past Due [Member] \| Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	2,150		4,069
Past Due [Member] \| Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	2,655		3,671
31 to 60 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	455		2,425
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	174		1,251
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	281		1,174
61 to 90 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	1,345		618
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	823		334
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	522		284
> 90 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	3,005		4,697
> 90 Days Past Due [Member] \| Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	1,153		2,484
> 90 Days Past Due [Member] \| Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	1,852		2,213
Current [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	12,493		14,028
Current [Member] \| Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	7,302		9,337
Current [Member] \| Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	$ 5,191		$ 4,691

[1] U thousand that we retained after selling the related lease receivable excluded from amortized cost. Unguaranteed residual values of $ thousand that we retained after selling the related lease receivable excluded from amortized cost.

NOTES PAYABLE AND CREDIT FACI_2

NOTES PAYABLE AND CREDIT FACILITY (Details) $ in Millions	3 Months Ended
NOTES PAYABLE AND CREDIT FACILITY (Details) $ in Millions	Jun. 30, 2024 USD ($) Dates	Mar. 31, 2024 USD ($)	Mar. 10, 2023 USD ($)	Oct. 13, 2021 USD ($)
Notes Payable [Member] \| Non-recourse [Member]
Notes Payable [Abstract]
Long-term Debt	$ 40.8	$ 36.2
Weighted average interest rate of notes	6.52%	6.49%
Floor Plan Facility [Member] \| WFCDF Credit Facility [Member] \| Minimum [Member]
Credit Facility [Abstract]
Debt instrument, term	45 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]
Basis spread on reference rate	1.75%
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	us-gaap:SecuredOvernightFinancingRateSofrMember
Debt instrument, interest rate adjustment	0.10%
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] \| Floor Plan Facility [Member] \| WFCDF Credit Facility [Member]
Credit Facility [Abstract]
Maximum borrowing capacity under credit facility			$ 500	$ 425
Amount outstanding under credit facility	$ 119.5	$ 105.1
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	$ 150
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
	Jun. 30, 2024	Jun. 30, 2023
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	$ 27,339	$ 33,847
Basic and diluted common shares outstanding [Abstract]
Weighted average common shares outstanding - basic (in shares)	26,642	26,552
Effect of dilutive shares (in shares)	159	96
Weighted average shares common outstanding - diluted (in shares)	26,801	26,648
Earnings per common share - basic (in dollars per share)	$ 1.03	$ 1.27
Earnings per common share - diluted (in dollars per share)	$ 1.02	$ 1.27

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	3 Months Ended
STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	Jun. 30, 2024	Jun. 30, 2023	May 18, 2024	Mar. 22, 2023
Share Repurchase Plan [Abstract]
Authorized number of shares under stock repurchase program (in shares)			1,250,000	1,000,000
Common stock repurchased during the period (in shares)	109,869	93,541
Common stock repurchased during the period	$ 8.1	$ 4.4
Shares repurchased to satisfy tax withholding obligation (in shares)	52,450	53,945
Value of shares repurchased to satisfy tax withholding obligation	$ 3.8	$ 3

SHARE-BASED COMPENSATION, Restr

SHARE-BASED COMPENSATION, Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	308,411
Granted (in shares)	121,534
Vested (in shares)	(145,201)
Forfeited (in shares)	(630)
Nonvested at end of period (in shares)	284,114
Weighted Average Grant-date Fair Value [Roll Forward]
Nonvested at beginning of period (in dollars per share)	$ 55.02
Granted (in dollars per share)	72.69
Vested (in dollars per share)	53.48
Forfeited (in dollars per share)	55.94
Nonvested at end of period (in dollars per share)	$ 63.37
2017 Director LTIP [Member]
Number of Shares [Roll Forward]
Granted (in shares)	437	862
2021 Employee LTIP [Member]
Number of Shares [Roll Forward]
Granted (in shares)	121,097	152,865

SHARE-BASED COMPENSATION, Perfo

SHARE-BASED COMPENSATION, Performance Stock Units (Details) - Performance Stock Units [Member]	3 Months Ended
	Jun. 30, 2024 $ / shares shares
Performance Stock Units ("PSUs") [Abstract]
Performance period	3 years
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares) \| shares	15,120
Granted (in shares) \| shares	19,415
Nonvested at end of period (in shares) \| shares	34,535
Weighted Average Grant-date Fair Value [Roll Forward]
Nonvested at beginning of period (in dollars per share) \| $ / shares	$ 61.17
Granted (in dollars per share) \| $ / shares	78.54
Nonvested at end of period (in dollars per share) \| $ / shares	$ 70.94
Minimum [Member]
Performance Stock Units ("PSUs") [Abstract]
Awards vesting target percentage	0%
Maximum [Member]
Performance Stock Units ("PSUs") [Abstract]
Awards vesting target percentage	200%

SHARE-BASED COMPENSATION, Emplo

SHARE-BASED COMPENSATION, Employee Stock Purchase Plan (Details) - 2022 Employee Stock Purchase Plan [Member] - $ / shares	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
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)	28,915	36,697
Share issue price (in dollars per share)	$ 62.63	$ 38.1
Number of shares remaining under the plan (in shares)	2,400,000

SHARE-BASED COMPENSATION, Compe

SHARE-BASED COMPENSATION, Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Compensation Expense [Abstract]
Equity-based compensation expense	$ 2,855	$ 2,205
Income tax benefit	(777)	(600)
401(k) Profit Sharing Plan [Abstract]
Contribution to profit sharing plan	1,400	$ 1,400
Restricted Stock [Member]
Compensation Expense [Abstract]
Unrecognized compensation expense	$ 17,100
Unrecognized compensation expense, period for recognition	36 months

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2024	Mar. 31, 2023
INCOME TAXES [Abstract]
Provision for income tax expense	$ 10,203	$ 12,675	$ 10,200	$ 12,700
Effective income tax rate	27.20%	27.20%
Statutory federal income tax rate	21%	21%

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Mar. 31, 2024
Assets [Abstract]
Money market funds	$ 283,187	$ 179,709
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Money market funds	283,187	179,709
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 (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands		3 Months Ended
BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Apr. 30, 2023	Jun. 30, 2024	Mar. 31, 2024
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill		$ 161,508	$ 161,503
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 asset	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

SEGMENT REPORTING, Reportable S

SEGMENT REPORTING, Reportable Segment Information (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2024 USD ($) Segment	Jun. 30, 2023 USD ($)
SEGMENT REPORTING [Abstract]
Number of business segments \| Segment	4
Reportable Segment Information [Abstract]
Net sales	$ 544,538	$ 574,175
Gross profit	134,481	142,273
Operating expenses	99,012	95,941
Operating income	35,469	46,332
Other income (expense), net	2,073	190
Earnings before tax	37,542	46,522
Depreciation and amortization	4,819	4,792
Interest and financing costs	585	851
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment and operating lease equipment	1,967	3,698
Technology Segment [Member]
Reportable Segment Information [Abstract]
Net sales	535,501	565,685
Product Segment [Member]
Reportable Segment Information [Abstract]
Net sales	457,312	498,166
Professional Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	37,279	35,556
Managed Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	40,910	31,963
Financing Segment [Member]
Reportable Segment Information [Abstract]
Net sales	9,037	8,490
Operating Segments [Member] \| Technology Segment [Member]
Reportable Segment Information [Abstract]
Operating expenses	94,903	92,414
Operating income	31,891	43,498
Depreciation and amortization	4,819	4,764
Interest and financing costs	0	550
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment and operating lease equipment	580	2,785
Operating Segments [Member] \| Product Segment [Member]
Reportable Segment Information [Abstract]
Net sales	457,312	498,166
Gross profit	98,505	111,391
Operating Segments [Member] \| Professional Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	37,279	35,556
Gross profit	15,455	14,724
Operating Segments [Member] \| Managed Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	40,910	31,963
Gross profit	12,834	9,797
Operating Segments [Member] \| Financing Segment [Member]
Reportable Segment Information [Abstract]
Net sales	9,037	8,490
Gross profit	7,687	6,361
Operating expenses	4,109	3,527
Operating income	3,578	2,834
Depreciation and amortization	0	28
Interest and financing costs	585	301
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment and operating lease equipment	$ 1,387	$ 913

SEGMENT REPORTING, Disaggregati

SEGMENT REPORTING, Disaggregation of Net Sales and Revenue Recognized from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Net Sales [Abstract]
Revenue from contracts with customers	$ 533,096	$ 559,352
Financing and other	11,442	14,823
Net sales	544,538	574,175
Transferred at Point in Time [Member] \| Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	419,479	453,672
Transferred at Point in Time [Member] \| Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	35,428	38,161
Transferred over Time [Member] \| Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	78,189	67,519
Technology Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	531,991	558,062
Financing and other	3,510	7,623
Net sales	535,501	565,685
Product Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	453,802	490,543
Financing and other	3,510	7,623
Net sales	457,312	498,166
Product Segment [Member] \| Transferred at Point in Time [Member] \| Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	418,374	452,382
Product Segment [Member] \| Transferred at Point in Time [Member] \| Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	35,428	38,161
Product Segment [Member] \| Transferred over Time [Member] \| Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0
Professional Services Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	37,279	35,556
Financing and other	0	0
Net sales	37,279	35,556
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
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
Professional Services Segment [Member] \| Transferred over Time [Member] \| Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	37,279	35,556
Managed Services Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	40,910	31,963
Financing and other	0	0
Net sales	40,910	31,963
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
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
Managed Services Segment [Member] \| Transferred over Time [Member] \| Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	40,910	31,963
Financing Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	1,105	1,290
Financing and other	7,932	7,200
Net sales	9,037	8,490
Financing Segment [Member] \| Transferred at Point in Time [Member] \| Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	1,105	1,290
Financing Segment [Member] \| Transferred at Point in Time [Member] \| Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	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

SEGMENT REPORTING, Technology S

SEGMENT REPORTING, Technology Segment Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Abstract]
Net sales	$ 544,538	$ 574,175
Less: Revenue from financing and other	(11,442)	(14,823)
Revenue from contracts with customers	533,096	559,352
Product [Member]
Disaggregation of Revenue [Abstract]
Net sales	466,349	506,656
Technology Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	535,501	565,685
Less: Revenue from financing and other	(3,510)	(7,623)
Revenue from contracts with customers	531,991	558,062
Technology Segment [Member] \| Telecom, Media & Entertainment [Member]
Disaggregation of Revenue [Abstract]
Net sales	117,553	141,335
Technology Segment [Member] \| Technology [Member]
Disaggregation of Revenue [Abstract]
Net sales	109,106	73,403
Technology Segment [Member] \| SLED [Member]
Disaggregation of Revenue [Abstract]
Net sales	92,096	109,405
Technology Segment [Member] \| Health Care [Member]
Disaggregation of Revenue [Abstract]
Net sales	75,280	86,656
Technology Segment [Member] \| Financial Services [Member]
Disaggregation of Revenue [Abstract]
Net sales	49,725	65,690
Technology Segment [Member] \| All Others [Member]
Disaggregation of Revenue [Abstract]
Net sales	91,741	89,196
Product Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	457,312	498,166
Less: Revenue from financing and other	(3,510)	(7,623)
Revenue from contracts with customers	453,802	490,543
Product Segment [Member] \| Networking [Member]
Disaggregation of Revenue [Abstract]
Net sales	234,740	245,188
Product Segment [Member] \| Cloud [Member]
Disaggregation of Revenue [Abstract]
Net sales	137,231	172,044
Product Segment [Member] \| Security [Member]
Disaggregation of Revenue [Abstract]
Net sales	48,005	45,796
Product Segment [Member] \| Collaboration [Member]
Disaggregation of Revenue [Abstract]
Net sales	20,899	12,956
Product Segment [Member] \| Other [Member]
Disaggregation of Revenue [Abstract]
Net sales	16,437	22,182
Professional Services Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	37,279	35,556
Less: Revenue from financing and other	0	0
Revenue from contracts with customers	37,279	35,556
Managed Services Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	40,910	31,963
Less: Revenue from financing and other	0	0
Revenue from contracts with customers	$ 40,910	$ 31,963