| Fair Value Measurements |
Fair Value Measurements The following summarizes the financial assets and liabilities measured at fair value on a recurring basis, along with their corresponding level within the fair value hierarchy:
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | June 30, 2025 | March 31, 2026 | | Level 2 | Level 3 | Total
at Fair
Value | Level 2 | Level 3 | Total
at Fair
Value | Level 2 | Level 3 | Total
at Fair
Value | | Financial Assets: | | | | | | | | | | | Derivative financial instruments | $ | 153 | | $ | — | | $ | 153 | | $ | 1,322 | | $ | — | | $ | 1,322 | | $ | 649 | | $ | — | | $ | 649 | | | Securitized beneficial interests | — | | 10,817 | | 10,817 | | — | | 16,103 | | 16,103 | | — | | 29,034 | | 29,034 | | | Total assets | $ | 153 | | $ | 10,817 | | $ | 10,970 | | $ | 1,322 | | $ | 16,103 | | $ | 17,425 | | $ | 649 | | $ | 29,034 | | $ | 29,683 | | | Financial Liabilities: | | | | | | | | | | | Derivative financial instruments | $ | 100 | | $ | — | | $ | 100 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | Long-term debt(1) | 433,396 | | — | | 433,396 | | 439,316 | | — | | 439,316 | | 433,490 | | — | | 433,490 | | | Guarantees | — | | 4,524 | | 4,524 | | — | | 3,287 | | 3,287 | | — | | 7,537 | | 7,537 | | | Total liabilities | $ | 433,496 | | $ | 4,524 | | $ | 438,020 | | $ | 439,316 | | $ | 3,287 | | $ | 442,603 | | $ | 433,490 | | $ | 7,537 | | $ | 441,027 | | (1) This fair value measurement disclosure does not affect the condensed consolidated balance sheets. |
The following summarizes the changes in Level 3 instruments measured on a recurring basis:
| | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | June 30, 2026 | June 30, 2025 | | Securitized Beneficial Interests | Long-Term Debt | Guarantees | Securitized Beneficial Interests | Long-Term Debt | Guarantees | | Balance, beginning of period | $ | 29,034 | | $ | — | | $ | 7,537 | | $ | 29,354 | | $ | 12 | | $ | 6,459 | | | Issuances | 28,595 | | — | | 1,695 | | 30,431 | | — | | 300 | | | Settlements | (46,093) | | — | | (705) | | (42,023) | | (12) | | (1,242) | | | Losses recognized in earnings | (719) | | — | | (4,003) | | (1,659) | | — | | (2,230) | | | Balance, end of period | $ | 10,817 | | $ | — | | $ | 4,524 | | $ | 16,103 | | $ | — | | $ | 3,287 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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