Contract Liabilities

12 Months Ended

Mar. 31, 2026

9. Contract Liabilities

During the year ended March 31, 2026, the Company recognized remanufactured core revenue of $14,797,000 and reduced the customer core returns accruals in connection with the realignment of inventory at certain customer distribution centers. The Company did not have any remanufactured core revenue in connection with the realignment of inventory at certain customer distribution centers during the years ended March 31, 2025 and 2024.

Contract liabilities are comprised of the following:


		March 31, 2026		March 31, 2025
Short-term contract liabilities
Customer allowances earned	$	19,616,000	$	16,283,000
Customer core returns accruals		18,394,000		13,880,000
Accrued core payment		10,121,000		3,196,000
Core bank liability		10,048,000		1,795,000
Customer deposits		2,185,000		2,486,000
Finished goods liabilities		837,000		518,000
Total short-term contract liabilities	$	61,201,000	$	38,158,000
Long-term contract liabilities
Customer core returns accruals	$	245,504,000	$	227,588,000
Accrued core payment		3,604,000		3,768,000
Core bank liability		-		10,048,000
Total long-term contract liabilities	$	249,108,000	$	241,404,000