Thermon Group Holdings, Inc. Annual report pursuant to Section 13 and 15(d)

Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2020



	March 31,
	2020		2019		2018
Cash and cash equivalents	$	43,237	$	31,402	$	33,879
Restricted cash included in prepaid expenses and other current assets	2,421		1,624		1,703
Restricted cash included in other long term assets	348		815		745
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	46,006	$	33,841	$	36,327

The following table summarizes the annual changes in our allowance for doubtful accounts:



Balance at March 31, 2017		$	518
	Additions to reserve	787
	Write-off of uncollectible accounts	(74		)
Balance at March 31, 2018		1,231
	Additions to reserve	354
	Write-off of uncollectible accounts	(598		)
Balance at March 31, 2019		987
	Additions to reserve	674
	Write-off of uncollectible accounts	(827		)
Balance at March 31, 2020		$	834

Depreciation is computed using the straight-line method over the following lives:



	Useful Lives in Years
Land improvements	15	-	20
Buildings and improvements	10	-	40
Machinery and equipment	3	-	25
Office furniture and equipment	3	-	10
Internally developed software	5	-	7

Property, plant and equipment consisted of the following at March 31:



	2020			2019*
Land, buildings and improvements	$	53,060		$	54,294
Machinery and equipment	38,880			28,567
Office furniture and equipment	15,587			22,596
Internally developed software	5,793			4,917
Construction in progress	2,772			2,995
Property, plant and equipment at cost	116,092			113,369
Accumulated depreciation	(43,550		)	(38,414		)
Property, plant and equipment, net	$	72,542		$	74,955