v3.26.1
DISCONTINUED OPERATIONS (Tables)
 12 Months Ended
Mar. 31, 2026
DISCONTINUED OPERATIONS [Abstract]  
Discontinued Operations
The following table provides our operating results of discontinued operations for the years ended March 31, 2026, 2025 and 2024 (in thousands):
 
             
             
                   
     Year ended March 31,  
     2026     2025     2024 
Net sales
 $ 15,811   $ 59,222   $ 48,787 
Cost of sales
   1,734     5,625     6,689 
Gross profit
   14,077     53,597     42,098 
                   
Selling, general, and administrative
   3,599     14,343     12,178 
Depreciation and amortization
     -        -      74 
Interest and financing costs
   450     2,211     2,348 
Operating expenses
   4,049     16,554     14,600 
                   
Operating income
   10,028     37,043     27,498 
                   
Other income—net
   (2,089)     988     1,404 
                   
Earnings before gain from sale and income taxes
   7,939     38,031     28,902 
Gain from sale of HoldCo before income taxes
   3,815       -        -  
Earnings before income taxes
   11,754     38,031     28,902 
                   
Provision for income taxes
   3,238     9,894     8,247 
                   
Net earnings from discontinued operations, net of tax
 $ 8,516   $ 28,137   $ 20,655 
The following table provides the major classes of assets and liabilities that are classified as discontinued operations as of March 31, 2025 (in thousands):
 
    March 31, 2025 
ASSETS
     
      
Accounts receivable—net
  $34,610 
Financing receivables—net, current
   168,392 
Other current assets
   19,397 
Current assets of discontinued operations
  $222,399 
      
Financing receivables and operating leases—net
  $126,408 
Other assets—long-term
   7,427 
Non-current assets of discontinued operations
  $133,835 
      
LIABILITIES
     
      
Accounts payable
  $127,154 
Salaries and commissions payable
   2,812 
Non-recourse notes payable—current
   27,456 
Other current liabilities
   9,041 
Current liabilities of discontinued operations
  $166,463 
      
Non-recourse notes payable—long-term
  $11,317 
Other liabilities—long-term
   1,229 
Non-current liabilities of discontinued operations
  $12,546