ePlus (PLUS) 10-Q 12 Nov 24 2025 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2024	Nov. 11, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	1-34167
Entity Registrant Name	ePlus inc.
Entity Central Index Key	0001022408
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1817218
Entity Address, Address Line One	13595 Dulles Technology Drive
Entity Address, City or Town	Herndon
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20171-3413
City Area Code	703
Local Phone Number	984-8400
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	PLUS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		26,802,972

UNAUDITED CONSOLIDATED BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 187,528	$ 253,021
Accounts receivable-trade, net	587,998	644,616
Accounts receivable-other, net	76,102	46,884
Inventories	93,857	139,690
Financing receivables-net, current	136,357	102,600
Deferred costs	61,874	59,449
Other current assets	58,663	27,269
Total current assets	1,202,379	1,273,529
Financing receivables and operating leases-net	90,561	79,435
Deferred tax asset	5,633	5,620
Property, equipment, and other assets-net	104,081	89,289
Goodwill	203,233	161,503
Other intangible assets-net	94,167	44,093
TOTAL ASSETS	1,700,054	1,653,469
Current liabilities:
Accounts payable	281,927	315,676
Accounts payable-floor plan	115,660	105,104
Salaries and commissions payable	45,163	43,696
Deferred revenue	143,334	134,596
Non-recourse notes payable-current	28,970	23,288
Other current liabilities	34,868	34,630
Total current liabilities	649,922	656,990
Non-recourse notes payable-long-term	9,723	12,901
Other liabilities	93,412	81,799
TOTAL LIABILITIES	753,057	751,690
COMMITMENTS AND CONTINGENCIES (Note 10)
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 per share par value; 2,000 shares authorized; none outstanding	0	0
Common stock, $0.01 per share par value; 50,000 shares authorized; 26,798 outstanding at September 30, 2024, and 26,952 outstanding at March 31, 2024	276	274
Additional paid-in capital	187,330	180,058
Treasury stock, at cost, 750 shares at September 30, 2024, and 447 shares at March 31, 2024	(47,461)	(23,811)
Retained earnings	801,627	742,978
Accumulated other comprehensive income-foreign currency translation adjustment	5,225	2,280
Total Stockholders' Equity	946,997	901,779
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,700,054	$ 1,653,469

UNAUDITED CONSOLIDATED BALANC_2

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Sep. 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)	26,798	26,952
Treasury stock, shares (in shares)	750	447

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net sales
Total	$ 515,172	$ 587,611	$ 1,059,710	$ 1,161,786
Cost of sales
Total	367,181	443,246	777,238	875,148
Gross profit	147,991	144,365	282,472	286,638
Selling, general, and administrative	98,971	92,652	192,579	182,950
Depreciation and amortization	5,765	5,630	10,584	10,422
Interest and financing costs	537	1,220	1,122	2,071
Operating expenses	105,273	99,502	204,285	195,443
Operating income	42,718	44,863	78,187	91,195
Other income	579	117	2,652	307
Earnings before tax	43,297	44,980	80,839	91,502
Provision for income taxes	11,987	12,316	22,190	24,991
Net earnings	$ 31,310	$ 32,664	$ 58,649	$ 66,511
Net earnings per common share-basic (in dollars per share)	$ 1.18	$ 1.23	$ 2.2	$ 2.5
Net earnings per common share-diluted (in dollars per share)	$ 1.17	$ 1.22	$ 2.19	$ 2.49
Weighted average common shares outstanding-basic (in shares)	26,567	26,624	26,604	26,588
Weighted average common shares outstanding-diluted (in shares)	26,676	26,679	26,750	26,659
Product [Member]
Net sales
Total	$ 411,505	$ 516,609	$ 877,854	$ 1,023,265
Cost of sales
Total	301,436	398,234	661,593	787,138
Services [Member]
Net sales
Total	103,667	71,002	181,856	138,521
Cost of sales
Total	$ 65,745	$ 45,012	$ 115,645	$ 88,010

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET EARNINGS	$ 31,310	$ 32,664	$ 58,649	$ 66,511
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Foreign currency translation adjustments	2,877	(1,749)	2,945	(802)
Other comprehensive income (loss)	2,877	(1,749)	2,945	(802)
TOTAL COMPREHENSIVE INCOME	$ 34,187	$ 30,915	$ 61,594	$ 65,709

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net earnings	$ 58,649	$ 66,511
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	12,580	12,285
Provision for credit losses	1,051	1,079
Share-based compensation expense	5,452	4,619
Loss (gain) on disposal of property, equipment, and operating lease equipment	92	(293)
Changes in:
Accounts receivable	78,286	(145,632)
Inventories	56,198	21,739
Financing receivables-net	(42,089)	(29,018)
Deferred costs and other assets	(38,879)	(5,436)
Accounts payable-trade	(58,333)	69,537
Salaries and commissions payable, deferred revenue, and other liabilities	2,492	14,945
Net cash provided by operating activities	75,499	10,336
Cash flows from investing activities:
Proceeds from sale of property, equipment, and operating lease equipment	158	377
Purchases of property, equipment, and operating lease equipment	(3,258)	(5,608)
Cash used in acquisitions, net of cash acquired	(124,646)	(48,603)
Net cash used in investing activities	(127,746)	(53,834)
Cash flows from financing activities:
Borrowings of non-recourse and recourse notes payable	13,598	191,639
Repayments of non-recourse and recourse notes payable	(14,378)	(180,103)
Proceeds from issuance of common stock	1,811	1,398
Repurchase of common stock	(23,551)	(8,352)
Payments to settle liabilities for acquisitions	(2,307)	0
Net borrowings on floor plan facility	10,556	18,032
Net cash provided by (used in) financing activities	(14,271)	22,614
Effect of exchange rate changes on cash	1,025	289
Net decrease in cash and cash equivalents	(65,493)	(20,595)
Cash and cash equivalents, beginning of period	253,021	103,093
Cash and cash equivalents, end of period	187,528	82,498
Supplemental disclosures of cash flow information:
Cash paid for interest	1,210	1,875
Cash paid for income taxes	35,071	22,657
Cash paid for amounts included in the measurement of lease liabilities	2,676	2,543
Schedule of non-cash investing and financing activities:
Proceeds from sale of property, equipment, and leased equipment	13	25
Purchases of property, equipment, and operating lease equipment	(545)	(282)
Consideration for acquisitions	(272)	0
Borrowing of non-recourse and recourse notes payable	14,586	21,387
Debt derecognized due to sales of financial assets	(11,303)	(19,703)
Vesting of share-based compensation	11,576	9,328
Repurchase of common stock	(99)	(65)
New operating lease assets obtained in exchange for lease obligations	$ 6,329	$ 3,122

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, 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]
Net earnings						66,511
Balance at Sep. 30, 2023	$ 274	173,318	(22,375)	693,713	766	845,696
Balance (in shares) at Sep. 30, 2023	26,942
Balance at Jun. 30, 2023	$ 274	170,904	(21,451)	661,049	2,515	813,291
Balance (in shares) at Jun. 30, 2023	26,947
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards	$ 0	0	0	0	0	0
Issuance of restricted stock awards (in shares)	10
Share-based compensation	$ 0	2,414	0	0	0	2,414
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ (924)	0	0	(924)
Repurchase of common stock (in shares)			(15)
Net earnings	0	0	$ 0	32,664	0	32,664
Foreign currency translation adjustment	0	0	0	0	(1,749)	(1,749)
Balance at Sep. 30, 2023	$ 274	173,318	(22,375)	693,713	766	845,696
Balance (in shares) at Sep. 30, 2023	26,942
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
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]
Net earnings						$ 58,649
Balance at Sep. 30, 2024	$ 276	187,330	(47,461)	801,627	5,225	$ 946,997
Balance (in shares) at Sep. 30, 2024	26,798					26,798
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards	$ 0	0	0	0	0	0
Issuance of restricted stock awards (in shares)	(1)
Share-based compensation	$ 0	2,597	0	0	0	2,597
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ (11,715)	0	0	(11,715)
Repurchase of common stock (in shares)			(141)
Net earnings	0	0	$ 0	31,310	0	31,310
Foreign currency translation adjustment	0	0	0	0	2,877	2,877
Balance at Sep. 30, 2024	$ 276	$ 187,330	$ (47,461)	$ 801,627	$ 5,225	$ 946,997
Balance (in shares) at Sep. 30, 2024	26,798					26,798

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 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”) and 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. I NTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the three and six and six 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 sales are products from Cisco Systems, which represented approximately 37% and 53% of our technology business net sales for the three months ended September 30, 2024, and 2023, respectively, and 37% and 49% of our technology business net sales for the six months ended September 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	6 Months Ended
	Sep. 30, 2024
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS 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	6 Months Ended
	Sep. 30, 2024
REVENUES [Abstract]
REVENUES	3. REVENUES ACCOUNTS RECEIVABLE AND CONTRACT ASSETS Our balance in accounts receivable—trade, net includes our accounts receivable recognized from contracts with customers and contract assets. Contract assets represent our right to consideration in exchange for goods or services that we transferred to a customer when that right is conditioned on something other than the passage of time. The following table provides a disaggregation of our balance in accounts receivable—trade, net (in thousands): September 30, 2024 March 31, 2024 Accounts receivable $ 574,762 $ 635,370 Contract assets 15,652 11,795 Allowance for credit losses (2,416 ) (2,549 ) Total accounts receivable—trade, net $ 587,998 $ 644,616 In addition, we had $39.2 million and $44.6 million of receivables from contracts with customers included within financing receivables as of September 30, 2024, and March 31, 2024, respectively. CONTRACT LIABILITIES Contract liabilities represent our obligation to transfer goods or services to a customer for which we received consideration, or the amount is due from the customer. The following table provides our total balance of contract liabilities (in thousands): September 30, 2024 March 31, 2024 Current (included in deferred revenue) $ 142,917 $ 134,110 Non-current (included in other liabilities) $ 77,193 $ 68,174 Revenue recognized from the beginning contract liability balance was $32.0 million and $72.5 million for the three and six months ended September 30, 2024, respectively, and $23.4 million and $54.3 million for the three and six months ended September 30, 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 $ 56,178 Year ending March 31, 2026 55,475 Year ending March 31, 2027 31,633 Year ending March 31, 2028 13,063 Year ending March 31, 2029, and thereafter 8,550 Total remaining performance obligations $ 164,899 The table does not include the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts where we recognize revenue at the amount that we have the right to invoice for services performed.

FINANCING RECEIVABLES AND OPERA

FINANCING RECEIVABLES AND OPERATING LEASES	6 Months Ended
	Sep. 30, 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, we finance purchases of third-party software and third-party services for our customers, which we classify as notes receivable. The following table provides the profit recognized for sales-type leases at their commencement date, including modifications that are recognized on a net basis, for the three and six months ended September 30, 2024, and 2023 (in thousands): Three months Ended September 30, Six months Ended September 30, 2024 2023 2024 2023 Net sales $ 7,855 $ 4,872 $ 11,365 $ 12,495 Cost of sales 6,956 4,132 10,015 11,523 Gross profit $ 899 $ 740 $ 1,350 $ 972 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three and six months ended September 30, 2024, and 2023 (in thousands): Three months Ended September 30, Six months Ended September 30, 2024 2023 2024 2023 Interest income on sales-type leases $ 2,219 $ 1,624 $ 4,242 $ 2,986 Lease income on operating leases $ 2,094 $ 2,801 $ 4,961 $ 5,609 FINANCING RECEIVABLES—NET The following tables provide a disaggregation of our financing receivables – net (in thousand s): Notes Sales-Type Lease Financing September 30 2024 Receivable Receivables Receivables Gross receivables $ 148,407 $ 94,819 $ 243,226 Unguaranteed residual value (1) - 11,963 11,963 Unearned income (8,319 ) (20,591 ) (28,910 ) Allowance for credit losses (2) (1,236 ) (1,828 ) (3,064 ) Total, net $ 138,852 $ 84,363 $ 223,215 Reported as: Current $ 92,092 $ 44,265 $ 136,357 Long-term 46,760 40,098 86,858 Total, net $ 138,852 $ 84,363 $ 223,215 (1) Includes unguaranteed residual values of $4,683 thousand that we retained after selling the related lease receivable. (2) Refer to Note 7 , “Allowance for Credit Losses” for details. 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): September 30, 2024 March 31, 2024 Cost of equipment under operating leases $ 11,026 $ 10,744 Accumulated depreciation (7,323 ) (7,128 ) Operating leases—net (1) $ 3,703 $ 3,616 (1) Amounts include estimated unguaranteed residual values of $1,708 thousand and $1,346 thousand as of September 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 September 30, 2024, and March 31, 2024, we had financing receivables of $49.3 million and $45.8 million, respectively, and operating leases of $2.1 million and $2.8 million, respectively, which were collateral for non-recourse notes payable. See Note 8 For transfers accounted for as a sale, we derecognize the carrying value of the asset transferred plus any liability and recognize a net gain or loss on the sale, which are presented within net sales in the consolidated statement of operations. During the three months ended September 30, 2024, and 2023, we recognized net gains of $14.5 million and $6.9 million, respectively, and total proceeds from these sales were $277.0 million and $220.8 million, respectively. For the six months ended September 30, 2024, and 2023, we recognized net gains of $15.8 million and $8.2 million, respectively, and total proceeds from these sales were $324.9 million and $282.2 million, respectively. When we retain servicing obligations in transfers accounted for as sales, we allocate a portion of the proceeds to deferred revenue, which is recognized as we perform the services. As of September 30, 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 if the lessee elects to early terminate the lease. As of September 30, 2024, and March 31, 2024, the total potential payments that could result from these indemnities was immaterial.

LESSEE ACCOUNTING

LESSEE ACCOUNTING	6 Months Ended
	Sep. 30, 2024
LESSEE ACCOUNTING [Abstract]
LESSEE ACCOUNTING	5. LESSEE ACCOUNTING We lease office space for periods of 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 $1.6 million and $1.5 million for the three months ended September 30, 2024, and September 30, 2023, respectively, and $2.9 million and $3.0 million for the six months ended September 30, 2024, and 2023, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Sep. 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 six months ended September 30, 2024 (in thousands): Professional Managed Product Services Services Total Balance, March 31, 2024 (1) $ 129,108 $ 22,497 $ 9,898 $ 161,503 Acquisitions 30 41,580 - 41,610 Foreign currency translations 94 17 9 120 Balance, September 30, 2024 (1) $ 129,232 $ 64,094 $ 9,907 $ 203,233 (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. We added $41.6 million in goodwill from our acquisition of Bailiwick Services, LLC (“Bailiwick”) on August 19, 2024. Please refer to Note 15 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. OTHER INTANGIBLE ASSETS O ur other intangible assets consist of purchased intangible assets and capitalized software development. The following table provides the composition of our purchased intangible assets on September 30, 2024, and March 31, 2024 (in thousands): September 30, 2024 March 31, 2024 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 167,515 $ (82,054 ) $ 85,461 $ 117,682 $ (73,870 ) $ 43,812 Trade name and other 11,474 (2,873 ) 8,601 2,798 (2,725 ) 73 Total $ 178,989 $ (84,927 ) $ 94,062 $ 120,480 $ (76,595 ) $ 43,885 Our customer relationships, trade names and other purchased intangibles are generally amortized between 5 to 10 years. Total amortization expense for purchased intangibles was $4.4 million and $4.0 million for the three months ended September 30, 2024, and 2023, respectively, and $8.2 million and $7.5 million for the six months ended September 30, 2024, and 2023, respectively. Our capitalized software development had a carrying value of $0.1 million and $0.2 million on September 30, 2024, and March 31, 2024, respectively.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	6 Months Ended
	Sep. 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 six months ended September 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 480 179 392 1,051 Write-offs and other (379 ) 1 1 (377 ) Balance as of September 30, 2024 $ 2,788 $ 1,236 $ 1,828 $ 5,852 Accounts Receivable Notes Receivable Lease Receivables Total Balance as of April 1, 2023 $ 2,572 $ 801 $ 981 $ 4,354 Provision for credit losses 508 122 449 1,079 Write-offs and other (26 ) (2 ) (2 ) (30 ) Balance as of September 30, 2023 $ 3,054 $ 921 $ 1,428 $ 5,403 We evaluate our customers using an internally assigned credit quality rating “CQR”. The CQR categories of our financing receivables are: • High CQR: This rating includes accounts with excellent to good business credit, asset quality and capacity to meet financial obligations. Loss rates in this category are generally less than . • Average CQR: This rating includes accounts with average credit risk that are more susceptible to loss in the event of adverse business or economic conditions. Loss rates in this category are in the range of to . • Low CQR: This rating includes accounts that have marginal credit risk such that the customer’s ability to make repayment is impaired or may likely become impaired. The loss rates in this category in the normal course are greater than and up to . The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of September 30, 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 $ 75,421 $ 32,252 $ 9,154 $ 1,253 $ 1,655 $ 7 $ 119,742 $ (24,544 ) $ 95,198 Average CQR 11,220 5,957 3,039 100 22 8 20,346 (3,802 ) 16,544 Total $ 86,641 $ 38,209 $ 12,193 $ 1,353 $ 1,677 $ 15 $ 140,088 $ (28,346 ) $ 111,742 Lease receivables: High CQR $ 19,768 $ 10,493 $ 7,659 $ 1,022 $ 729 $ 37 $ 39,708 $ (2,505 ) $ 37,203 Average CQR 20,121 13,123 7,101 1,341 104 10 41,800 (7,599 ) 34,201 Total $ 39,889 $ 23,616 $ 14,760 $ 2,363 $ 833 $ 47 $ 81,508 $ (10,104 ) $ 71,404 Total amortized cost (1) $ 126,530 $ 61,825 $ 26,953 $ 3,716 $ 2,510 $ 62 $ 221,596 $ (38,450 ) $ 183,146 (1) Excludes u thousand that we retained after selling the related lease receivable. (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis. The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of March 31, 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) Excludes unguaranteed residual values of $ thousand that we retained after selling the related lease receivable . (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis. The following table provides an aging analysis of our financing receivables as of September 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 $ 1,377 $ 2,507 $ 2,031 $ 5,915 $ 19,710 $ 25,625 $ 114,463 $ 140,088 Lease receivables 179 716 1,851 2,746 5,515 8,261 73,247 81,508 Total $ 1,556 $ 3,223 $ 3,882 $ 8,661 $ 25,225 $ 33,886 $ 187,710 $ 221,596 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 September 30, 2024, and March 31, 2024.

NOTES PAYABLE AND CREDIT FACILI

NOTES PAYABLE AND CREDIT FACILITY	6 Months Ended
	Sep. 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 Our 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 $500.0 million, together with a sublimit for a revolving credit facility for up to $200.0 million. Under the accounts payable floor plan facility, we had an outstanding balance of $115.7 million and $105.1 million as of September 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 fair value of the outstanding balances under the WFCDF Credit Facility were approximately equal to their carrying value as of September 30, 2024, and March 31, 2024. 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 September 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 September 30, 2024, and March 31, 2024 September 30, 2024, and March 31, 2024

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 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 September 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	6 Months Ended
	Sep. 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 and six months ended September 30, 2024, and 2023 , respectively (in thousands, except per share data) Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Net earnings attributable to common shareholders — basic and diluted $ 31,310 $ 32,664 $ 58,649 $ 66,511 Basic and diluted common shares outstanding Weighted average common shares outstanding — basic 26,567 26,624 26,604 26,588 Effect of dilutive shares 109 55 146 71 Weighted average common shares outstanding — diluted 26,676 26,679 26,750 26,659 Earnings per common share — basic $ 1.18 $ 1.23 $ 2.20 $ 2.50 Earnings per common share — diluted $ 1.17 $ 1.22 $ 2.19 $ 2.49

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Sep. 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 share repurchase 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 six months ended September 30, 2024 During the six months ended September 30, 2023

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2024
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	12. SHARE-BASED COMPENSATION SHARE-BASED PLANS As of September 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”). On September 12, 2024, our shareholders approved the 2024 Non-Employee Director Long-Term Incentive Plan (“2024 Director LTIP”). The 2024 Director LTIP replaces the 2017 Director LTIP. Beginning September 12, 2024, we permanently ceased issuing any additional shares under the 2017 Director LTIP. The maximum aggregate number of shares that may be issued as restricted shares under the 2024 Director LTIP is 300,000 shares. These share-based plans define fair market value as the closing sales price of a share of common stock as quoted on any established stock exchange for such date or the most recent trading day preceding such date if there were no trades on such date. RESTRICTED STOCK ACTIVITY For the six months ended September 30, 2024, we granted 729 restricted shares of our stock under the 2017 Director LTIP, and 121,097 restricted shares of our stock September of our stock of our stock A summary of our restricted stock activity is as follows: Number of Shares Weighted Average Grant-date Fair Value Nonvested April 1, 2024 308,411 $ 55.02 Granted 121,826 $ 72.70 Vested (157,058 ) $ 53.37 Forfeited (1,666 ) $ 60.36 Nonvested September 30 271,513 $ 63.88 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 six months ended September 30, 2024: Number of units Weighted Average Grant-date Fair Value Nonvested April 1, 2024 15,120 $ 61.17 Granted 19,415 $ 78.54 Vested - $ - Forfeited - $ - Nonvested September 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, our ESPP, and the related income tax benefit for the three and six months ended September 30, 2024, and 2023, respectively (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Equity-based compensation expense $ 2,597 $ 2,414 $ 5,452 $ 4,619 Income tax benefit (719 ) (661 ) (1,494 ) (1,261 ) We recognized the income tax benefit as a reduction to our provision for income taxes. As of September 30, 2024, the total unrecognized compensation expense related to non-vested restricted stock was $14.7 million, which is expected to be recognized over a weighted-average period of 33 months. We also provide our employees with a contributory 401(k) profit sharing plan (the “401(k) plan”), to which we may contribute from time to time at our sole discretion. Employer contributions to the 401(k) plan are always fully vested. Our estimated contribution expense to the 401(k) plan for the three months ended September 30, 2024, and 2023, were $1.3 million and $1.2 million, respectively. For the six months ended September 30, 2024, and 2023, our estimated contribution expense for the plan was $2.8 million and $2.6 million, respectively.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2024
INCOME TAXES [Abstract]
INCOME TAXES	13. INCOME TAXES Our provision for income tax expense was $12.0 million and $22.2 million for the three and six months ended September 30, 2024 three-and six-month September 30, 2024 Our effective income tax rate for the three and six months ended September 30, 2024, was higher compared to the same three- and six-month periods in the prior year primarily due to higher state effective tax rates and more non-deductible executive compensation expense in the current period. September 30, 2024 September 30, 2023

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Sep. 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 September 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) September 30, 2024 Assets: Money market funds $ 104,522 $ 104,522 $ - $ - March 31, 2024 Assets: Money market funds $ 179,709 $ 179,709 $ - $ -

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Sep. 30, 2024
BUSINESS COMBINATIONS [Abstract]
BUSINESS COMBINATIONS	15. BUSINESS COMBINATIONS BAILIWICK SERVICES, LLC (“Bailiwick”) On August 19, 2024, our subsidiary, e Our preliminary sum for consideration transferred is $124.9 million, which consists of $126.2 million paid in cash at closing, less $1.5 million cash acquired, plus an estimated $0.3 million adjustment due to the sellers based on adjustments to a determination of the total net assets at closing. Our preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 41,719 Contract assets 7,712 Other assets 20,669 Identified intangible assets 58,370 Accounts payable and other liabilities (38,946 ) Contract liabilities (6,216 ) Total identifiable net assets 83,308 Goodwill 41,610 Total purchase consideration $ 124,918 The identified intangible assets of $58.4 million consists of customer relationships of $49.7 million with an estimated useful life of ten years and trade name of $8.7 million with a preliminary useful life of seven years. We recognized goodwill related to this transaction of $41.6 million, which was assigned to our professional services and product segments. The goodwill recognized in the Bailiwick 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 expected to be deductible for tax purposes is $43.5 million. 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, 2024, is not material. NETWORK SOLUTIONS GROUP (“NSG”) On April 30, 2023, our subsidiary, e Our sum for consideration transferred was $48.6 million, which consists 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	6 Months Ended
	Sep. 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. With our acquisition of Bailiwick, our professional services segment also include projects supporting digital signage, EV charging solutions, loss prevention and security, store openings, and store closings. 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 leases IT equipment, medical equipment, and other equipment, and sells the off-lease equipment at the end of the lease. Additionally, our financing business segment finances purchases of third-party software licenses, software assurance, maintenance, and other services. We measure the performance of the segments within our technology business based on gross profit, while we measure our financing business segment based on operating income. We do not present asset information for our reportable segments as we do not provide asset information to our chief operating decision maker. The following table provides reportable segment information (in thousands): Three Months Ended Six Months Ended September 30, September 30, 2024 2023 2024 2023 Net sales Product $ 389,613 $ 500,937 $ 846,925 $ 999,103 Professional services 61,900 38,270 99,179 73,826 Managed services 41,767 32,732 82,677 64,695 Financing 21,892 15,672 30,929 24,162 Total 515,172 587,611 1,059,710 1,161,786 Gross profit Product 89,359 104,749 187,864 216,140 Professional services 25,583 15,796 41,038 30,520 Managed services 12,339 10,194 25,173 19,991 Financing 20,710 13,626 28,397 19,987 Total 147,991 144,365 282,472 286,638 Operating expenses Technology business 99,815 94,856 194,718 187,270 Financing 5,458 4,646 9,567 8,173 Total 105,273 99,502 204,285 195,443 Operating income Technology business 27,466 35,883 59,357 79,381 Financing 15,252 8,980 18,830 11,814 Total 42,718 44,863 78,187 91,195 Other income (expense), net 579 117 2,652 307 Earnings before tax $ 43,297 $ 44,980 $ 80,839 $ 91,502 Depreciation and amortization Technology business $ 5,765 $ 5,602 $ 10,584 $ 10,366 Financing - 28 - 56 Total $ 5,765 $ 5,630 $ 10,584 $ 10,422 Interest and financing costs Technology business $ - $ 661 $ - $ 1,211 Financing 537 559 1,122 860 Total $ 537 $ 1,220 $ 1,122 $ 2,071 Selected Financial Data - Statement of Cash Flow Purchases of property, equipment, and operating lease equipment Technology business $ 1,291 $ 1,904 $ 1,871 $ 4,689 Financing - 6 1,387 919 Total $ 1,291 $ 1,910 $ 3,258 $ 5,608 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 September 30, 2024 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 381,758 $ 61,900 $ 41,767 $ 652 $ 486,077 Financing and other 7,855 - - 21,240 29,095 Total $ 389,613 $ 61,900 $ 41,767 $ 21,892 $ 515,172 Timing and position as principal or agent: Transferred at a point in time as principal $ 330,800 $ - $ - $ 652 $ 331,452 Transferred at a point in time as agent 50,958 - - - 50,958 Transferred over time as principal - 61,900 41,767 - 103,667 Total revenue from contracts with customers $ 381,758 $ 61,900 $ 41,767 $ 652 $ 486,077 Six months ended September 30, 2024 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 835,560 $ 99,179 $ 82,677 $ 1,757 $ 1,019,173 Financing and other 11,365 - - 29,172 40,537 Total $ 846,925 $ 99,179 $ 82,677 $ 30,929 $ 1,059,710 Timing and position as principal or agent: Transferred at a point in time as principal $ 749,174 $ - $ - $ 1,757 $ 750,931 Transferred at a point in time as agent 86,386 - - - 86,386 Transferred over time as principal - 99,179 82,677 - 181,856 Total revenue from contracts with customers $ 835,560 $ 99,179 $ 82,677 $ 1,757 $ 1,019,173 Three months ended September 30, 2023 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 496,065 $ 38,270 $ 32,732 $ 2,835 $ 569,902 Financing and other 4,872 - - 12,837 17,709 Total $ 500,937 $ 38,270 $ 32,732 $ 15,672 $ 587,611 Timing and position as principal or agent: Transferred at a point in time as principal $ 442,278 $ - $ - $ 2,835 $ 445,113 Transferred at a point in time as agent 53,787 - - - 53,787 Transferred over time as principal - 38,270 32,732 - 71,002 Total revenue from contracts with customers $ 496,065 $ 38,270 $ 32,732 $ 2,835 $ 569,902 Six months ended September 30, 2023 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 986,608 $ 73,826 $ 64,695 $ 4,125 $ 1,129,254 Financing and other 12,495 - - 20,037 32,532 Total $ 999,103 $ 73,826 $ 64,695 $ 24,162 $ 1,161,786 Timing and position as principal or agent: Transferred at a point in time as principal $ 894,660 $ - $ - $ 4,125 $ 898,785 Transferred at a point in time as agent 91,948 - - - 91,948 Transferred over time as principal - 73,826 64,695 - 138,521 Total revenue from contracts with customers $ 986,608 $ 73,826 $ 64,695 $ 4,125 $ 1,129,254 TECHNOLOGY BUSINESS DISAGGREGATION OF REVENUE The following table provides a disaggregation of our revenue from contracts with customers for our technology business by customer end market and by type (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Customer end market: Telecom, Media & Entertainment $ 108,870 $ 124,306 $ 226,423 $ 265,641 State and local government and educational institutions 97,687 94,906 189,783 204,311 Healthcare 78,235 72,022 153,515 158,678 Technology 54,988 110,948 164,094 184,351 Financial Services 34,759 69,885 84,484 135,575 All others 118,741 99,872 210,482 189,068 Net sales 493,280 571,939 1,028,781 1,137,624 Less: Revenue from financing and other (7,855 ) (4,872 ) (11,365 ) (12,495 ) Revenue from contracts with customers $ 485,425 $ 567,067 $ 1,017,416 $ 1,125,129 Type: Product Networking $ 186,776 $ 268,636 $ 421,516 $ 513,824 Cloud 121,336 135,068 258,567 307,112 Security 41,209 51,886 89,214 97,682 Collaboration 17,988 27,083 38,887 40,039 Other 22,304 18,264 38,741 40,446 Total product 389,613 500,937 846,925 999,103 Professional services 61,900 38,270 99,179 73,826 Managed services 41,767 32,732 82,677 64,695 Net sales 493,280 571,939 1,028,781 1,137,624 Less: Revenue from financing and other (7,855 ) (4,872 ) (11,365 ) (12,495 ) Revenue from contracts with customers $ 485,425 $ 567,067 $ 1,017,416 $ 1,125,129 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
	Sep. 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)	6 Months Ended
	Sep. 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.
INTERIM FINANCIAL STATEMENTS	I NTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the three and six and six
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 sales are products from Cisco Systems, which represented approximately 37% and 53% of our technology business net sales for the three months ended September 30, 2024, and 2023, respectively, and 37% and 49% of our technology business net sales for the six months ended September 30, 2024, and 2023, respectively.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	6 Months Ended
	Sep. 30, 2024
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
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)	6 Months Ended
	Sep. 30, 2024
REVENUES [Abstract]
Balance of Accounts Receivables-Trade Net, Contract Assets, and Contract Liabilities	The following table provides a disaggregation of our balance in accounts receivable—trade, net (in thousands): September 30, 2024 March 31, 2024 Accounts receivable $ 574,762 $ 635,370 Contract assets 15,652 11,795 Allowance for credit losses (2,416 ) (2,549 ) Total accounts receivable—trade, net $ 587,998 $ 644,616 The following table provides our total balance of contract liabilities (in thousands): September 30, 2024 March 31, 2024 Current (included in deferred revenue) $ 142,917 $ 134,110 Non-current (included in other liabilities) $ 77,193 $ 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 $ 56,178 Year ending March 31, 2026 55,475 Year ending March 31, 2027 31,633 Year ending March 31, 2028 13,063 Year ending March 31, 2029, and thereafter 8,550 Total remaining performance obligations $ 164,899

FINANCING RECEIVABLES AND OPE_2

FINANCING RECEIVABLES AND OPERATING LEASES (Tables)	6 Months Ended
	Sep. 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 and six months ended September 30, 2024, and 2023 (in thousands): Three months Ended September 30, Six months Ended September 30, 2024 2023 2024 2023 Net sales $ 7,855 $ 4,872 $ 11,365 $ 12,495 Cost of sales 6,956 4,132 10,015 11,523 Gross profit $ 899 $ 740 $ 1,350 $ 972 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three and six months ended September 30, 2024, and 2023 (in thousands): Three months Ended September 30, Six months Ended September 30, 2024 2023 2024 2023 Interest income on sales-type leases $ 2,219 $ 1,624 $ 4,242 $ 2,986 Lease income on operating leases $ 2,094 $ 2,801 $ 4,961 $ 5,609
Notes Receivable Net and Investments in Leases	The following tables provide a disaggregation of our financing receivables – net (in thousand s): Notes Sales-Type Lease Financing September 30 2024 Receivable Receivables Receivables Gross receivables $ 148,407 $ 94,819 $ 243,226 Unguaranteed residual value (1) - 11,963 11,963 Unearned income (8,319 ) (20,591 ) (28,910 ) Allowance for credit losses (2) (1,236 ) (1,828 ) (3,064 ) Total, net $ 138,852 $ 84,363 $ 223,215 Reported as: Current $ 92,092 $ 44,265 $ 136,357 Long-term 46,760 40,098 86,858 Total, net $ 138,852 $ 84,363 $ 223,215 (1) Includes unguaranteed residual values of $4,683 thousand that we retained after selling the related lease receivable. (2) Refer to Note 7 , “Allowance for Credit Losses” for details. 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	Operating leases—net represents leases that do not qualify as sales-type leases. The components of the operating leases—net are as follows (in thousands): September 30, 2024 March 31, 2024 Cost of equipment under operating leases $ 11,026 $ 10,744 Accumulated depreciation (7,323 ) (7,128 ) Operating leases—net (1) $ 3,703 $ 3,616 (1) Amounts include estimated unguaranteed residual values of $1,708 thousand and $1,346 thousand as of September 30, 2024, and March 31, 2024, respectively.

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Sep. 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 six months ended September 30, 2024 (in thousands): Professional Managed Product Services Services Total Balance, March 31, 2024 (1) $ 129,108 $ 22,497 $ 9,898 $ 161,503 Acquisitions 30 41,580 - 41,610 Foreign currency translations 94 17 9 120 Balance, September 30, 2024 (1) $ 129,232 $ 64,094 $ 9,907 $ 203,233 (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	O ur other intangible assets consist of purchased intangible assets and capitalized software development. The following table provides the composition of our purchased intangible assets on September 30, 2024, and March 31, 2024 (in thousands): September 30, 2024 March 31, 2024 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Customer relationships $ 167,515 $ (82,054 ) $ 85,461 $ 117,682 $ (73,870 ) $ 43,812 Trade name and other 11,474 (2,873 ) 8,601 2,798 (2,725 ) 73 Total $ 178,989 $ (84,927 ) $ 94,062 $ 120,480 $ (76,595 ) $ 43,885

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	6 Months Ended
	Sep. 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 six months ended September 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 480 179 392 1,051 Write-offs and other (379 ) 1 1 (377 ) Balance as of September 30, 2024 $ 2,788 $ 1,236 $ 1,828 $ 5,852 Accounts Receivable Notes Receivable Lease Receivables Total Balance as of April 1, 2023 $ 2,572 $ 801 $ 981 $ 4,354 Provision for credit losses 508 122 449 1,079 Write-offs and other (26 ) (2 ) (2 ) (30 ) Balance as of September 30, 2023 $ 3,054 $ 921 $ 1,428 $ 5,403
Amortized Cost Basis of Financing Receivables by Credit Quality Rating and Credit Origination Year	The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of September 30, 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 $ 75,421 $ 32,252 $ 9,154 $ 1,253 $ 1,655 $ 7 $ 119,742 $ (24,544 ) $ 95,198 Average CQR 11,220 5,957 3,039 100 22 8 20,346 (3,802 ) 16,544 Total $ 86,641 $ 38,209 $ 12,193 $ 1,353 $ 1,677 $ 15 $ 140,088 $ (28,346 ) $ 111,742 Lease receivables: High CQR $ 19,768 $ 10,493 $ 7,659 $ 1,022 $ 729 $ 37 $ 39,708 $ (2,505 ) $ 37,203 Average CQR 20,121 13,123 7,101 1,341 104 10 41,800 (7,599 ) 34,201 Total $ 39,889 $ 23,616 $ 14,760 $ 2,363 $ 833 $ 47 $ 81,508 $ (10,104 ) $ 71,404 Total amortized cost (1) $ 126,530 $ 61,825 $ 26,953 $ 3,716 $ 2,510 $ 62 $ 221,596 $ (38,450 ) $ 183,146 (1) Excludes u thousand that we retained after selling the related lease receivable. (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis. The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of March 31, 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) Excludes unguaranteed residual values of $ thousand that we retained after selling the related lease receivable . (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis.
Aging Analysis of Financing Receivables	The following table provides an aging analysis of our financing receivables as of September 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 $ 1,377 $ 2,507 $ 2,031 $ 5,915 $ 19,710 $ 25,625 $ 114,463 $ 140,088 Lease receivables 179 716 1,851 2,746 5,515 8,261 73,247 81,508 Total $ 1,556 $ 3,223 $ 3,882 $ 8,661 $ 25,225 $ 33,886 $ 187,710 $ 221,596 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)	6 Months Ended
	Sep. 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 and six months ended September 30, 2024, and 2023 , respectively (in thousands, except per share data) Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Net earnings attributable to common shareholders — basic and diluted $ 31,310 $ 32,664 $ 58,649 $ 66,511 Basic and diluted common shares outstanding Weighted average common shares outstanding — basic 26,567 26,624 26,604 26,588 Effect of dilutive shares 109 55 146 71 Weighted average common shares outstanding — diluted 26,676 26,679 26,750 26,659 Earnings per common share — basic $ 1.18 $ 1.23 $ 2.20 $ 2.50 Earnings per common share — diluted $ 1.17 $ 1.22 $ 2.19 $ 2.49

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2024
SHARE-BASED COMPENSATION [Abstract]
Summary of Restricted Stock Activity	A summary of our restricted stock activity is as follows: Number of Shares Weighted Average Grant-date Fair Value Nonvested April 1, 2024 308,411 $ 55.02 Granted 121,826 $ 72.70 Vested (157,058 ) $ 53.37 Forfeited (1,666 ) $ 60.36 Nonvested September 30 271,513 $ 63.88
Summary of Non-Vested Performance Stock Units	The following table provides a summary of the nonvested PSUs for the six months ended September 30, 2024: Number of units Weighted Average Grant-date Fair Value Nonvested April 1, 2024 15,120 $ 61.17 Granted 19,415 $ 78.54 Vested - $ - Forfeited - $ - Nonvested September 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, our ESPP, and the related income tax benefit for the three and six months ended September 30, 2024, and 2023, respectively (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Equity-based compensation expense $ 2,597 $ 2,414 $ 5,452 $ 4,619 Income tax benefit (719 ) (661 ) (1,494 ) (1,261 )

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Sep. 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 September 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) September 30, 2024 Assets: Money market funds $ 104,522 $ 104,522 $ - $ - March 31, 2024 Assets: Money market funds $ 179,709 $ 179,709 $ - $ -

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Sep. 30, 2024
Bailiwick Services, LLC [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed	Our preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 41,719 Contract assets 7,712 Other assets 20,669 Identified intangible assets 58,370 Accounts payable and other liabilities (38,946 ) Contract liabilities (6,216 ) Total identifiable net assets 83,308 Goodwill 41,610 Total purchase consideration $ 124,918
Network Solutions Group [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed	Our allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 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)	6 Months Ended
	Sep. 30, 2024
SEGMENT REPORTING [Abstract]
Segment Reporting Information, by Reportable Segment	The following table provides reportable segment information (in thousands): Three Months Ended Six Months Ended September 30, September 30, 2024 2023 2024 2023 Net sales Product $ 389,613 $ 500,937 $ 846,925 $ 999,103 Professional services 61,900 38,270 99,179 73,826 Managed services 41,767 32,732 82,677 64,695 Financing 21,892 15,672 30,929 24,162 Total 515,172 587,611 1,059,710 1,161,786 Gross profit Product 89,359 104,749 187,864 216,140 Professional services 25,583 15,796 41,038 30,520 Managed services 12,339 10,194 25,173 19,991 Financing 20,710 13,626 28,397 19,987 Total 147,991 144,365 282,472 286,638 Operating expenses Technology business 99,815 94,856 194,718 187,270 Financing 5,458 4,646 9,567 8,173 Total 105,273 99,502 204,285 195,443 Operating income Technology business 27,466 35,883 59,357 79,381 Financing 15,252 8,980 18,830 11,814 Total 42,718 44,863 78,187 91,195 Other income (expense), net 579 117 2,652 307 Earnings before tax $ 43,297 $ 44,980 $ 80,839 $ 91,502 Depreciation and amortization Technology business $ 5,765 $ 5,602 $ 10,584 $ 10,366 Financing - 28 - 56 Total $ 5,765 $ 5,630 $ 10,584 $ 10,422 Interest and financing costs Technology business $ - $ 661 $ - $ 1,211 Financing 537 559 1,122 860 Total $ 537 $ 1,220 $ 1,122 $ 2,071 Selected Financial Data - Statement of Cash Flow Purchases of property, equipment, and operating lease equipment Technology business $ 1,291 $ 1,904 $ 1,871 $ 4,689 Financing - 6 1,387 919 Total $ 1,291 $ 1,910 $ 3,258 $ 5,608
Disaggregation of Net Sales and Revenue Recognized from Contracts with Customers	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 September 30, 2024 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 381,758 $ 61,900 $ 41,767 $ 652 $ 486,077 Financing and other 7,855 - - 21,240 29,095 Total $ 389,613 $ 61,900 $ 41,767 $ 21,892 $ 515,172 Timing and position as principal or agent: Transferred at a point in time as principal $ 330,800 $ - $ - $ 652 $ 331,452 Transferred at a point in time as agent 50,958 - - - 50,958 Transferred over time as principal - 61,900 41,767 - 103,667 Total revenue from contracts with customers $ 381,758 $ 61,900 $ 41,767 $ 652 $ 486,077 Six months ended September 30, 2024 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 835,560 $ 99,179 $ 82,677 $ 1,757 $ 1,019,173 Financing and other 11,365 - - 29,172 40,537 Total $ 846,925 $ 99,179 $ 82,677 $ 30,929 $ 1,059,710 Timing and position as principal or agent: Transferred at a point in time as principal $ 749,174 $ - $ - $ 1,757 $ 750,931 Transferred at a point in time as agent 86,386 - - - 86,386 Transferred over time as principal - 99,179 82,677 - 181,856 Total revenue from contracts with customers $ 835,560 $ 99,179 $ 82,677 $ 1,757 $ 1,019,173 Three months ended September 30, 2023 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 496,065 $ 38,270 $ 32,732 $ 2,835 $ 569,902 Financing and other 4,872 - - 12,837 17,709 Total $ 500,937 $ 38,270 $ 32,732 $ 15,672 $ 587,611 Timing and position as principal or agent: Transferred at a point in time as principal $ 442,278 $ - $ - $ 2,835 $ 445,113 Transferred at a point in time as agent 53,787 - - - 53,787 Transferred over time as principal - 38,270 32,732 - 71,002 Total revenue from contracts with customers $ 496,065 $ 38,270 $ 32,732 $ 2,835 $ 569,902 Six months ended September 30, 2023 Product Professional Managed Services Financing Total Net Sales: Contracts with customers $ 986,608 $ 73,826 $ 64,695 $ 4,125 $ 1,129,254 Financing and other 12,495 - - 20,037 32,532 Total $ 999,103 $ 73,826 $ 64,695 $ 24,162 $ 1,161,786 Timing and position as principal or agent: Transferred at a point in time as principal $ 894,660 $ - $ - $ 4,125 $ 898,785 Transferred at a point in time as agent 91,948 - - - 91,948 Transferred over time as principal - 73,826 64,695 - 138,521 Total revenue from contracts with customers $ 986,608 $ 73,826 $ 64,695 $ 4,125 $ 1,129,254
Technology Segment Disaggregation of Revenue	The following table provides a disaggregation of our revenue from contracts with customers for our technology business by customer end market and by type (in thousands): Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Customer end market: Telecom, Media & Entertainment $ 108,870 $ 124,306 $ 226,423 $ 265,641 State and local government and educational institutions 97,687 94,906 189,783 204,311 Healthcare 78,235 72,022 153,515 158,678 Technology 54,988 110,948 164,094 184,351 Financial Services 34,759 69,885 84,484 135,575 All others 118,741 99,872 210,482 189,068 Net sales 493,280 571,939 1,028,781 1,137,624 Less: Revenue from financing and other (7,855 ) (4,872 ) (11,365 ) (12,495 ) Revenue from contracts with customers $ 485,425 $ 567,067 $ 1,017,416 $ 1,125,129 Type: Product Networking $ 186,776 $ 268,636 $ 421,516 $ 513,824 Cloud 121,336 135,068 258,567 307,112 Security 41,209 51,886 89,214 97,682 Collaboration 17,988 27,083 38,887 40,039 Other 22,304 18,264 38,741 40,446 Total product 389,613 500,937 846,925 999,103 Professional services 61,900 38,270 99,179 73,826 Managed services 41,767 32,732 82,677 64,695 Net sales 493,280 571,939 1,028,781 1,137,624 Less: Revenue from financing and other (7,855 ) (4,872 ) (11,365 ) (12,495 ) Revenue from contracts with customers $ 485,425 $ 567,067 $ 1,017,416 $ 1,125,129

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Sales [Member] | Product Concentration Risk [Member] | Cisco Systems [Member] | Technology [Member]
Concentrations of Risk [Abstract]
Percentage of concentration risk	37%	53%	37%	49%

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Accounts Receivable-Trade, Net [Abstract]
Accounts receivable	$ 574,762		$ 574,762		$ 635,370
Contract assets	15,652		15,652		11,795
Allowance for credit losses	(2,416)		(2,416)		(2,549)
Total accounts receivable-trade, net	587,998		587,998		644,616
Accounts receivable - trade	39,200		39,200		44,600
Contract with Customer, Asset and Liability [Abstract]
Current (included in deferred revenue)	142,917		142,917		134,110
Non-current (included in other liabilities)	77,193		77,193		$ 68,174
Revenue recognized from the beginning contract liability	32,000	$ 23,400	72,500	$ 54,300
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	164,899		164,899
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 56,178		$ 56,178
Expected timing of satisfaction, period	6 months		6 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	$ 55,475		$ 55,475
Expected timing of satisfaction, period	1 year		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 31,633		$ 31,633
Expected timing of satisfaction, period	1 year		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 13,063		$ 13,063
Expected timing of satisfaction, period	1 year		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	$ 8,550		$ 8,550
Expected timing of satisfaction, period

FINANCING RECEIVABLES AND OPE_3

FINANCING RECEIVABLES AND OPERATING LEASES (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Sep. 30, 2024		Sep. 30, 2023	Sep. 30, 2024		Sep. 30, 2023	Mar. 31, 2024		Mar. 31, 2023
Profit Recognized for Sales-type Leases [Abstract]
Net sales		$ 7,855		$ 4,872	$ 11,365		$ 12,495
Cost of sales		6,956		4,132	10,015		11,523
Gross profit		899		740	1,350		972
Interest Income on Sales-type Leases [Abstract]
Interest income on sales-type leases		2,219		1,624	4,242		2,986
Lease income on operating leases		2,094		2,801	4,961		5,609
Financing Receivables [Abstract]
Unguaranteed residual value		4,683			4,683			$ 3,718
Allowance for credit losses		(5,852)		(5,403)	(5,852)		(5,403)	(5,178)		$ (4,354)
Reported as [Abstract]
Current		136,357			136,357			102,600
Unguaranteed residual value for sales-type leases		4,683			4,683			3,718
Investment in Operating Lease Equipment - Net [Abstract]
Cost of equipment under operating leases		11,026			11,026			10,744
Accumulated depreciation		(7,323)			(7,323)			(7,128)
Operating lease-net	[1]	3,703			3,703			3,616
Unguaranteed residual value of operating lease equipment net		1,708			1,708			1,346
Transfers of Financial Assets [Abstract]
Gain on sale of financing receivables		14,500		6,900	15,800		8,200
Proceeds from sale of financing receivables		277,000		220,800	324,900		282,200
Deferred revenue for servicing obligation		300			300			400
Notes Payable [Member] | Asset Pledged as Collateral [Member] | Nonrecourse [Member]
Transfers of Financial Assets [Abstract]
Financing receivables		49,300			49,300			45,800
Operating leases		2,100			2,100			2,800
Notes Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		148,407			148,407			114,713
Unguaranteed residual value		0	[2]		0	[2]		0	[3]
Unearned income		(8,319)			(8,319)			(6,503)
Allowance for credit losses		(1,236)	[4]	(921)	(1,236)	[4]	(921)	(1,056)	[4]	(801)
Total, net		138,852			138,852			107,154
Reported as [Abstract]
Current		92,092			92,092			61,830
Long-term		46,760			46,760			45,324
Total, net		138,852			138,852			107,154
Sales-Type Lease Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		94,819			94,819			75,658
Unguaranteed residual value		11,963	[2]		11,963	[2]		9,078	[3]
Unearned income		(20,591)			(20,591)			(12,036)
Allowance for credit losses		(1,828)	[4]	$ (1,428)	(1,828)	[4]	$ (1,428)	(1,435)	[4]	$ (981)
Total, net		84,363			84,363			71,265
Reported as [Abstract]
Current		44,265			44,265			40,770
Long-term		40,098			40,098			30,495
Total, net		84,363			84,363			71,265
Financing Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		243,226			243,226			190,371
Unguaranteed residual value		11,963	[2]		11,963	[2]		9,078	[3]
Unearned income		(28,910)			(28,910)			(18,539)
Allowance for credit losses	[4]	(3,064)			(3,064)			(2,491)
Total, net		223,215			223,215			178,419
Reported as [Abstract]
Current		136,357			136,357			102,600
Long-term		86,858			86,858			75,819
Total, net		$ 223,215			$ 223,215			$ 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 $1,708 thousand and $1,346 thousand as of September 30, 2024, and March 31, 2024, respectively. Includes unguaranteed residual values of $4,683 thousand that we retained after selling the related lease receivable. Includes unguaranteed residual values of $3,718 thousand that we retained after selling the related lease receivable. Refer to Note 7 , “Allowance for Credit Losses” for details.

LESSEE ACCOUNTING (Details)

LESSEE ACCOUNTING (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessee, Operating Lease [Abstract]
Operating lease cost	$ 1.6	$ 1.5	$ 2.9	$ 3
Office Building [Member] | Maximum [Member]
Lessee, Operating Lease [Abstract]
Operating lease term	6 years		6 years
Warehouse [Member] | Maximum [Member]
Lessee, Operating Lease [Abstract]
Operating lease term	10 years		10 years

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, Goodwill (Details) - USD ($) $ in Thousands			6 Months Ended
		Aug. 19, 2024	Sep. 30, 2024
Goodwill [Roll Forward]
Goodwill	[1]		$ 161,503
Acquisitions			41,610
Foreign currency translations			120
Goodwill	[1]		203,233
Accumulated impairments			8,673
Bailiwick Services, LLC [Member]
Goodwill [Roll Forward]
Acquisitions		$ 41,600
Product [Member]
Goodwill [Roll Forward]
Goodwill	[1]		129,108
Acquisitions			30
Foreign currency translations			94
Goodwill	[1]		129,232
Professional Services [Member]
Goodwill [Roll Forward]
Goodwill	[1]		22,497
Acquisitions			41,580
Foreign currency translations			17
Goodwill	[1]		64,094
Managed Services [Member]
Goodwill [Roll Forward]
Goodwill	[1]		9,898
Acquisitions			0
Foreign currency translations			9
Goodwill	[1]		$ 9,907
[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		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Other Intangible Assets [Abstract]
Gross carrying amount	$ 178,989		$ 178,989		$ 120,480
Accumulated amortization	(84,927)		(84,927)		(76,595)
Net carrying amount	94,062		94,062		43,885
Customer Relationships [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	167,515		167,515		117,682
Accumulated amortization	(82,054)		(82,054)		(73,870)
Net carrying amount	$ 85,461		$ 85,461		43,812
Customer Relationships [Member] | Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	5 years		5 years
Customer Relationships [Member] | Maximum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	10 years		10 years
Trade Name and Other [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	$ 11,474		$ 11,474		2,798
Accumulated amortization	(2,873)		(2,873)		(2,725)
Net carrying amount	$ 8,601		$ 8,601		73
Trade Name and Other [Member] | Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	5 years		5 years
Trade Name and Other [Member] | Maximum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	10 years		10 years
Purchased Intangibles [Member]
Other Intangible Assets [Abstract]
Total amortization expense	$ 4,400	$ 4,000	$ 8,200	$ 7,500
Capitalized Software Development [Member]
Other Intangible Assets [Abstract]
Net carrying amount	$ 100		$ 100		$ 200

ALLOWANCE FOR CREDIT LOSSES, Ac

ALLOWANCE FOR CREDIT LOSSES, Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2024		Sep. 30, 2023
Activity in reserves for credit losses [Roll Forward]
Balance	$ 5,178		$ 4,354
Provision for credit losses	1,051		1,079
Write-offs and other	(377)		(30)
Balance	5,852		5,403
Accounts Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	2,687		2,572
Provision for credit losses	480		508
Write-offs and other	(379)		(26)
Balance	2,788		3,054
Notes Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	1,056	[1]	801
Provision for credit losses	179		122
Write-offs and other	1		(2)
Balance	1,236	[1]	921
Lease Receivables [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	1,435	[1]	981
Provision for credit losses	392		449
Write-offs and other	1		(2)
Balance	$ 1,828	[1]	$ 1,428
[1] Refer to Note 7 , “Allowance for Credit Losses” for details.

ALLOWANCE FOR CREDIT LOSSES, Am

ALLOWANCE FOR CREDIT LOSSES, Amortized Cost Basis (Details) - USD ($) $ in Thousands		6 Months Ended
		Sep. 30, 2024		Mar. 31, 2024
Credit Risk Profile, Segregated by Class [Abstract]
2025/2024		$ 126,530	[1]	$ 127,633	[2]
2024/2023		61,825	[1]	38,086	[2]
2023/2022		26,953	[1]	7,216	[2]
2022/2021		3,716	[1]	4,118	[2]
2021/2020		2,510	[1]	132	[2]
2020/2019 and prior		62	[1]	7	[2]
Total		221,596	[1]	177,192	[2]
Transfers	[3]	(38,450)	[1]	(35,723)	[2]
Net credit exposure		183,146	[1]	141,469	[2]
Unguaranteed residual value		$ 4,683		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		$ 86,641		82,649
2024/2023		38,209		19,081
2023/2022		12,193		3,742
2022/2021		1,353		2,708
2021/2020		1,677		30
2020/2019 and prior		15		0
Total		140,088		108,210
Transfers	[3]	(28,346)		(29,159)
Net credit exposure		111,742		79,051
Unguaranteed residual value		0	[4]	0	[5]
Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2025/2024		39,889		44,984
2024/2023		23,616		19,005
2023/2022		14,760		3,474
2022/2021		2,363		1,410
2021/2020		833		102
2020/2019 and prior		47		7
Total		81,508		68,982
Transfers	[3]	(10,104)		(6,564)
Net credit exposure		71,404		62,418
Unguaranteed residual value		$ 11,963	[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		$ 75,421		63,934
2024/2023		32,252		15,821
2023/2022		9,154		3,440
2022/2021		1,253		2,656
2021/2020		1,655		30
2020/2019 and prior		7		0
Total		119,742		85,881
Transfers	[3]	(24,544)		(25,683)
Net credit exposure		95,198		60,198
High CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2025/2024		19,768		22,123
2024/2023		10,493		9,457
2023/2022		7,659		1,341
2022/2021		1,022		1,151
2021/2020		729		100
2020/2019 and prior		37		7
Total		39,708		34,179
Transfers	[3]	(2,505)		(1,128)
Net credit exposure		$ 37,203		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		$ 11,220		18,715
2024/2023		5,957		3,260
2023/2022		3,039		302
2022/2021		100		52
2021/2020		22		0
2020/2019 and prior		8		0
Total		20,346		22,329
Transfers	[3]	(3,802)		(3,476)
Net credit exposure		16,544		18,853
Average CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2025/2024		20,121		22,861
2024/2023		13,123		9,548
2023/2022		7,101		2,133
2022/2021		1,341		259
2021/2020		104		2
2020/2019 and prior		10		0
Total		41,800		34,803
Transfers	[3]	(7,599)		(5,436)
Net credit exposure		$ 34,201		$ 29,367
[1] Excludes u thousand that we retained after selling the related lease receivable. Excludes unguaranteed residual values of $ thousand that we retained after selling the related lease receivable . Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis. Includes unguaranteed residual values of $4,683 thousand that we retained after selling the related lease receivable. Includes unguaranteed residual values of $3,718 thousand that we retained after selling the related lease receivable.

ALLOWANCE FOR CREDIT LOSSES, Ag

ALLOWANCE FOR CREDIT LOSSES, Aging Analysis (Details) - USD ($) $ in Thousands	Sep. 30, 2024		Mar. 31, 2024
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	$ 33,886		$ 21,768
Unbilled	187,710		155,424
Total	221,596	[1]	177,192	[2]
Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	25,625		13,406
Unbilled	114,463		94,804
Total	140,088		108,210
Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	8,261		8,362
Unbilled	73,247		60,620
Total	81,508		68,982
Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	8,661		7,740
Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	5,915		4,069
Past Due [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	2,746		3,671
31 to 60 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	1,556		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	1,377		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	179		1,174
61 to 90 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	3,223		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	2,507		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	716		284
> 90 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	3,882		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	2,031		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	1,851		2,213
Current [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	25,225		14,028
Current [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	19,710		9,337
Current [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	$ 5,515		$ 4,691
[1] Excludes u thousand that we retained after selling the related lease receivable. Excludes unguaranteed residual values of $ thousand that we retained after selling the related lease receivable .

NOTES PAYABLE AND CREDIT FACI_2

NOTES PAYABLE AND CREDIT FACILITY (Details) $ in Millions	6 Months Ended
	Sep. 30, 2024 USD ($) Dates	Mar. 31, 2024 USD ($)
Notes Payable [Member] | Non-recourse [Member]
Notes Payable [Abstract]
Long-term Debt	$ 38.7	$ 36.2
Weighted average interest rate of notes	5.75%	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]
Debt instrument, term	1 year
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
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
Amount outstanding under credit facility	$ 115.7	$ 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
Amount outstanding under credit facility	$ 0	$ 0

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 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	$ 31,310	$ 27,339	$ 32,664	$ 33,847	$ 58,649	$ 66,511
Basic and diluted common shares outstanding [Abstract]
Weighted average common shares outstanding - basic (in shares)	26,567		26,624		26,604	26,588
Effect of dilutive shares (in shares)	109		55		146	71
Weighted average common shares outstanding - diluted (in shares)	26,676		26,679		26,750	26,659
Earnings per common share - basic (in dollars per share)	$ 1.18		$ 1.23		$ 2.2	$ 2.5
Earnings per common share - diluted (in dollars per share)	$ 1.17		$ 1.22		$ 2.19	$ 2.49

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2024	Sep. 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)	250,234	109,122
Common stock repurchased during the period	$ 19.8	$ 5.3
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, Share

SHARE-BASED COMPENSATION, Share-Based Plans (Details)	Sep. 30, 2024 shares
2024 Director LTIP [Member] | Restricted Stock [Member]
Share-Based Plans [Abstract]
Maximum aggregate number of shares to be issued (in shares)	300,000

SHARE-BASED COMPENSATION, Restr

SHARE-BASED COMPENSATION, Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	308,411
Granted (in shares)	121,826
Vested (in shares)	(157,058)
Forfeited (in shares)	(1,666)
Nonvested at end of period (in shares)	271,513
Weighted Average Grant-date Fair Value [Roll Forward]
Nonvested at beginning of period (in dollars per share)	$ 55.02
Granted (in dollars per share)	72.7
Vested (in dollars per share)	53.37
Forfeited (in dollars per share)	60.36
Nonvested at end of period (in dollars per share)	$ 63.88
2017 Director LTIP [Member]
Number of Shares [Roll Forward]
Granted (in shares)	729	12,454
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]	6 Months Ended
	Sep. 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
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
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
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
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	6 Months Ended
	Sep. 30, 2024	Sep. 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		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Compensation Expense [Abstract]
Equity-based compensation expense	$ 2,597	$ 2,414	$ 5,452	$ 4,619
Income tax benefit	(719)	(661)	(1,494)	(1,261)
401(k) Profit Sharing Plan [Abstract]
Contribution to profit sharing plan	1,300	$ 1,200	2,800	$ 2,600
Restricted Stock [Member]
Compensation Expense [Abstract]
Unrecognized compensation expense	$ 14,700		$ 14,700
Unrecognized compensation expense, period for recognition			33 months

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
INCOME TAXES [Abstract]
Provision for income tax expense	$ 11,987	$ 12,316	$ 22,190	$ 24,991
Effective income tax rate	27.70%	27.40%	27.40%	27.30%
Statutory federal income tax rate	21%	21%	21%	21%

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Assets [Abstract]
Money market funds	$ 104,522	$ 179,709
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Money market funds	104,522	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, BAILIWIC

BUSINESS COMBINATIONS, BAILIWICK SERVICES, LLC (Bailiwick) (Details) - USD ($) $ in Thousands	Aug. 19, 2024	Sep. 30, 2024	Mar. 31, 2024
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill		$ 203,233	$ 161,503
Bailiwick Services, LLC [Member]
Business Combination [Abstract]
Percentage of membership interest	100%
Period of professional and managed services	30 years
Cash portion of the acquisition	$ 126,200
Cash received	1,500
Estimated adjustment amount	300
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Accounts receivable	41,719
Contract assets	7,712
Other assets	20,669
Identified intangible asset	58,370
Accounts payable and other liabilities	(38,946)
Contract liabilities	(6,216)
Total identifiable net assets	83,308
Goodwill	41,610
Total purchase consideration	124,918
Goodwill expected to be deductible for tax purposes	43,500
Bailiwick Services, LLC [Member] | Customer Relationships [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Identified intangible asset	49,700
Estimated useful lives		10 years
Bailiwick Services, LLC [Member] | Trade Names [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Identified intangible asset	$ 8,700
Estimated useful lives		7 years

BUSINESS COMBINATIONS, NETWORK

BUSINESS COMBINATIONS, NETWORK SOLUTIONS GROUP (NSG) (Details) - USD ($) $ in Thousands		3 Months Ended
	Apr. 30, 2023	Sep. 30, 2023	Sep. 30, 2024	Mar. 31, 2024
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill			$ 203,233	$ 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 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		6 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Segment	Sep. 30, 2023 USD ($)
SEGMENT REPORTING [Abstract]
Number of business segments | Segment			4
Reportable Segment Information [Abstract]
Net sales	$ 515,172	$ 587,611	$ 1,059,710	$ 1,161,786
Gross profit	147,991	144,365	282,472	286,638
Operating expenses	105,273	99,502	204,285	195,443
Operating income	42,718	44,863	78,187	91,195
Other income (expense), net	579	117	2,652	307
Earnings before tax	43,297	44,980	80,839	91,502
Depreciation and amortization	5,765	5,630	10,584	10,422
Interest and financing costs	537	1,220	1,122	2,071
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment, and operating lease equipment	1,291	1,910	3,258	5,608
Technology Segment [Member]
Reportable Segment Information [Abstract]
Net sales	493,280	571,939	1,028,781	1,137,624
Product Segment [Member]
Reportable Segment Information [Abstract]
Net sales	389,613	500,937	846,925	999,103
Professional Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	61,900	38,270	99,179	73,826
Managed Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	41,767	32,732	82,677	64,695
Financing Segment [Member]
Reportable Segment Information [Abstract]
Net sales	21,892	15,672	30,929	24,162
Operating Segments [Member] | Technology Segment [Member]
Reportable Segment Information [Abstract]
Operating expenses	99,815	94,856	194,718	187,270
Operating income	27,466	35,883	59,357	79,381
Depreciation and amortization	5,765	5,602	10,584	10,366
Interest and financing costs	0	661	0	1,211
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment, and operating lease equipment	1,291	1,904	1,871	4,689
Operating Segments [Member] | Product Segment [Member]
Reportable Segment Information [Abstract]
Net sales	389,613	500,937	846,925	999,103
Gross profit	89,359	104,749	187,864	216,140
Operating Segments [Member] | Professional Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	61,900	38,270	99,179	73,826
Gross profit	25,583	15,796	41,038	30,520
Operating Segments [Member] | Managed Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	41,767	32,732	82,677	64,695
Gross profit	12,339	10,194	25,173	19,991
Operating Segments [Member] | Financing Segment [Member]
Reportable Segment Information [Abstract]
Net sales	21,892	15,672	30,929	24,162
Gross profit	20,710	13,626	28,397	19,987
Operating expenses	5,458	4,646	9,567	8,173
Operating income	15,252	8,980	18,830	11,814
Depreciation and amortization	0	28	0	56
Interest and financing costs	537	559	1,122	860
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment, and operating lease equipment	$ 0	$ 6	$ 1,387	$ 919

SEGMENT REPORTING, Disaggregati

SEGMENT REPORTING, Disaggregation of Net Sales and Revenue Recognized from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net Sales [Abstract]
Revenue from contracts with customers	$ 486,077	$ 569,902	$ 1,019,173	$ 1,129,254
Financing and other	29,095	17,709	40,537	32,532
Net sales	515,172	587,611	1,059,710	1,161,786
Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	331,452	445,113	750,931	898,785
Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	50,958	53,787	86,386	91,948
Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	103,667	71,002	181,856	138,521
Technology Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	485,425	567,067	1,017,416	1,125,129
Financing and other	7,855	4,872	11,365	12,495
Net sales	493,280	571,939	1,028,781	1,137,624
Product Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	381,758	496,065	835,560	986,608
Financing and other	7,855	4,872	11,365	12,495
Net sales	389,613	500,937	846,925	999,103
Product Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	330,800	442,278	749,174	894,660
Product Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	50,958	53,787	86,386	91,948
Product Segment [Member] | Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Professional Services Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	61,900	38,270	99,179	73,826
Financing and other	0	0	0	0
Net sales	61,900	38,270	99,179	73,826
Professional Services Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Professional Services Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Professional Services Segment [Member] | Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	61,900	38,270	99,179	73,826
Managed Services Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	41,767	32,732	82,677	64,695
Financing and other	0	0	0	0
Net sales	41,767	32,732	82,677	64,695
Managed Services Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Managed Services Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Managed Services Segment [Member] | Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	41,767	32,732	82,677	64,695
Financing Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	652	2,835	1,757	4,125
Financing and other	21,240	12,837	29,172	20,037
Net sales	21,892	15,672	30,929	24,162
Financing Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	652	2,835	1,757	4,125
Financing Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Financing Segment [Member] | Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	$ 0	$ 0	$ 0	$ 0

SEGMENT REPORTING, Technology S

SEGMENT REPORTING, Technology Segment Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Abstract]
Net sales	$ 515,172	$ 587,611	$ 1,059,710	$ 1,161,786
Less: Revenue from financing and other	(29,095)	(17,709)	(40,537)	(32,532)
Revenue from contracts with customers	486,077	569,902	1,019,173	1,129,254
Product [Member]
Disaggregation of Revenue [Abstract]
Net sales	411,505	516,609	877,854	1,023,265
Technology Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	493,280	571,939	1,028,781	1,137,624
Less: Revenue from financing and other	(7,855)	(4,872)	(11,365)	(12,495)
Revenue from contracts with customers	485,425	567,067	1,017,416	1,125,129
Technology Segment [Member] | Telecom, Media & Entertainment [Member]
Disaggregation of Revenue [Abstract]
Net sales	108,870	124,306	226,423	265,641
Technology Segment [Member] | State and Local Government and Educational Institutions [Member]
Disaggregation of Revenue [Abstract]
Net sales	97,687	94,906	189,783	204,311
Technology Segment [Member] | Healthcare [Member]
Disaggregation of Revenue [Abstract]
Net sales	78,235	72,022	153,515	158,678
Technology Segment [Member] | Technology [Member]
Disaggregation of Revenue [Abstract]
Net sales	54,988	110,948	164,094	184,351
Technology Segment [Member] | Financial Services [Member]
Disaggregation of Revenue [Abstract]
Net sales	34,759	69,885	84,484	135,575
Technology Segment [Member] | All Others [Member]
Disaggregation of Revenue [Abstract]
Net sales	118,741	99,872	210,482	189,068
Product Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	389,613	500,937	846,925	999,103
Less: Revenue from financing and other	(7,855)	(4,872)	(11,365)	(12,495)
Revenue from contracts with customers	381,758	496,065	835,560	986,608
Product Segment [Member] | Networking [Member]
Disaggregation of Revenue [Abstract]
Net sales	186,776	268,636	421,516	513,824
Product Segment [Member] | Cloud [Member]
Disaggregation of Revenue [Abstract]
Net sales	121,336	135,068	258,567	307,112
Product Segment [Member] | Security [Member]
Disaggregation of Revenue [Abstract]
Net sales	41,209	51,886	89,214	97,682
Product Segment [Member] | Collaboration [Member]
Disaggregation of Revenue [Abstract]
Net sales	17,988	27,083	38,887	40,039
Product Segment [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Net sales	22,304	18,264	38,741	40,446
Professional Services Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	61,900	38,270	99,179	73,826
Less: Revenue from financing and other	0	0	0	0
Revenue from contracts with customers	61,900	38,270	99,179	73,826
Managed Services Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	41,767	32,732	82,677	64,695
Less: Revenue from financing and other	0	0	0	0
Revenue from contracts with customers	$ 41,767	$ 32,732	$ 82,677	$ 64,695