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, 2021


	March 31, 2021		March 31, 2020		March 31, 2019
Cash and cash equivalents	$	40,124	$	43,237	$	31,402
Restricted cash included in prepaid expenses and other current assets	1,962		2,421		1,624
Restricted cash included in other long-term assets	364		348		815
Total cash, cash equivalents, and restricted cash shown in the statement of cash flows	$	42,450	$	46,006	$	33,841

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


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
	Additions to reserve	1,466
	Write-off of uncollectible accounts	(226)
Balance at March 31, 2021		$	2,074

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:


	2021		2020
Land, buildings and improvements	$	57,317	$	53,060
Machinery and equipment	47,138		38,880
Office furniture and equipment	15,375		15,587
Internally developed software	7,336		5,793
Construction in progress	1,019		2,772
Property, plant and equipment at cost	128,185		116,092
Accumulated depreciation	(55,555)		(43,550)
Property, plant and equipment, net	$	72,630	$	72,542