SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS

The 2021 Notes and the 2022 Notes are fully and unconditionally guaranteed on a joint and several basis by the Guarantor Subsidiaries. The total assets, stockholders' equity, revenue, earnings and cash flows from operating activities of the Guarantor Subsidiaries exceeded a majority of the consolidated total of such items as of and for the periods reported. The only consolidated subsidiaries of the Company that are not guarantors of the 2021 Notes and the 2022 Notes (the “Non-Guarantor Subsidiaries”) are: (a) the receivables securitization special-purpose entity; and (b) the international operating subsidiaries. The following tables present condensed consolidating financial statements including the Company (the “Parent”), the Guarantor Subsidiaries, and the Non-Guarantor Subsidiaries. Such financial statements include summary Condensed Consolidating Balance Sheets as of September 30, 2015 and March 31, 2015, Condensed Consolidating Statements of Comprehensive Income for the three and six months ended September 30, 2015 and 2014, and Condensed Consolidating Statements of Cash Flows for the six months ended September 30, 2015 and 2014.


12.	SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Continued)

SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS:



	September 30, 2015
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
Current assets:
Cash and cash equivalents	$	612	$	312	$	38,165	$	—		$	39,089
Trade and other receivables, net	3,203		224,361		313,338		—			540,902
Inventories	—		1,455,368		101,119		—			1,556,487
Rotable assets	—		35,750		16,585		—			52,335
Deferred income taxes	—		73,700		123		—			73,823
Prepaid expenses and other	4,336		17,694		6,745		—			28,775
Total current assets	8,151		1,807,185		476,075		—			2,291,411
Property and equipment, net	7,573		776,184		130,547		—			914,304
Goodwill and other intangible assets, net	—		2,754,973		201,955		—			2,956,928
Other, net	12,903		79,806		17,219		—			109,928
Intercompany investments and advances	4,029,045		81,541		78,195		(4,188,781		)	—
Total assets	$	4,057,672	$	5,499,689	$	903,991	$	(4,188,781	)	$	6,272,571

Current liabilities:
Current portion of long-term debt	$	23,720	$	19,328	$	—	$	—		$	43,048
Accounts payable	3,912		350,812		45,203		—			399,927
Accrued expenses	42,550		322,721		39,002		—			404,273
Total current liabilities	70,182		692,861		84,205		—			847,248
Long-term debt, less current portion	1,308,097		69,850		178,700		—			1,556,647
Intercompany advances	402,762		2,021,140		341,450		(2,765,352		)	—
Accrued pension and other postretirement benefits, noncurrent	7,633		482,895		1,905		—			492,433
Deferred income taxes and other	11,617		1,047,351		59,893		—			1,118,861
Total stockholders’ equity	2,257,381		1,185,592		237,838		(1,423,429		)	2,257,382
Total liabilities and stockholders’ equity	$	4,057,672	$	5,499,689	$	903,991	$	(4,188,781	)	$	6,272,571

SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS:



	March 31, 2015
	Parent		Guarantor Subsidiaries		Non-Guarantor Subsidiaries		Eliminations			Consolidated Total
Current assets:
Cash and cash equivalents	$	620	$	419	$	31,578	$	—		$	32,617
Trade and other receivables, net	3,578		180,874		337,149		—			521,601
Inventories	—		1,200,941		79,333		—			1,280,274
Rotable assets	—		35,248		13,572		—			48,820
Deferred income taxes	—		145,352		—		—			145,352
Prepaid expenses and other	6,509		10,549		6,011		—			23,069
Total current assets	10,707		1,573,383		467,643		—			2,051,733
Property and equipment, net	8,209		807,070		135,455		—			950,734
Goodwill and other intangible assets, net	—		2,780,855		204,735		—			2,985,590
Other, net	13,805		80,806		13,386		—			107,997
Intercompany investments and advances	4,062,058		81,540		63,897		(4,207,495		)	—
Total assets	$	4,094,779	$	5,323,654	$	885,116	$	(4,207,495	)	$	6,096,054

Current liabilities:
Current portion of long-term debt	$	19,024	$	23,231	$	—	$	—		$	42,255
Accounts payable	8,919		382,143		38,072		—			429,134
Accrued expenses	38,275		326,694		46,879		—			411,848
Total current liabilities	66,218		732,068		84,951		—			883,237
Long-term debt, less current portion	1,155,299		71,046		100,000		—			1,326,345
Intercompany advances	719,525		1,769,564		407,722		(2,896,811		)	—
Accrued pension and other postretirement benefits, noncurrent	7,517		527,741		3,123		—			538,381
Deferred income taxes and other	10,435		1,138,648		63,224		—			1,212,307
Total stockholders’ equity	2,135,785		1,084,587		226,096		(1,310,684		)	2,135,784
Total liabilities and stockholders’ equity	$	4,094,779	$	5,323,654	$	885,116	$	(4,207,495	)	$	6,096,054

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:



	For the Three Months Ended September 30, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	876,282		$	95,355		$	(16,863	)	$	954,774

Operating costs and expenses:
Cost of sales	—			667,591			80,103			(16,863		)	730,831
Selling, general and administrative	11,908			49,803			9,610			—			71,321
Depreciation and amortization	389			37,766			4,420			—			42,575
	12,297			755,160			94,133			(16,863		)	844,727
Operating (loss) income	(12,297		)	121,122			1,222			—			110,047
Intercompany interest and charges	(50,709		)	48,401			2,308			—			—
Interest expense and other	15,133			2,193			(1,695		)	—			15,631
Income before income taxes	23,279			70,528			609			—			94,416
Income tax expense	5,487			26,196			1,121			—			32,804
Net income	17,792			44,332			(512		)	—			61,612
Other comprehensive loss	(1,800		)	(1,097		)	(15,658		)	—			(18,555		)
Total comprehensive income (loss)	$	15,992		$	43,235		$	(16,170	)	$	—		$	43,057

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:



	For the Three Months Ended September 30, 2014
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	909,720		$	90,664		$	(6,261	)	$	994,123

Operating costs and expenses:
Cost of sales	—			705,399			72,307			(6,261		)	771,445
Selling, general and administrative	12,493			47,264			9,013			—			68,770
Depreciation and amortization	626			34,512			3,876			—			39,014
Relocation costs	—			196			—			—			196
	13,119			787,371			85,196			(6,261		)	879,425
Operating (loss) income	(13,119		)	122,349			5,468			—			114,698
Intercompany interest and charges	(52,345		)	50,142			2,203			—			—
Interest expense and other	15,014			2,388			(2,016		)	—			15,386
Income before income taxes	24,212			69,819			5,281			—			99,312
Income tax expense	5,553			26,295			18			—			31,866
Net income	18,659			43,524			5,263			—			67,446
Other comprehensive income (loss)	1,456			(1,533		)	(17,408		)	—			(17,485		)
Total comprehensive income (loss)	$	20,115		$	41,991		$	(12,145	)	$	—		$	49,961

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:



	For the Six Months Ended September 30, 2015
	Parent			Guarantor Subsidiaries		Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	1,761,725	$	181,492		$	(28,805	)	$	1,914,412

Operating costs and expenses:
Cost of sales	—			1,339,900		151,830			(28,805		)	1,462,925
Selling, general and administrative	25,060			102,241		17,301			—			144,602
Depreciation and amortization	789			72,808		12,512			—			86,109
Curtailment charge	2,863			—		—			—			2,863
	28,712			1,514,949		181,643			(28,805		)	1,696,499
Operating (loss) income	(28,712		)	246,776		(151		)	—			217,913
Intercompany interest and charges	(104,300		)	99,913		4,387			—			—
Interest expense and other	29,648			5,083		(984		)	—			33,747
Income before income taxes	45,940			141,780		(3,554		)	—			184,166
Income tax expense	5,476			52,590		1,757			—			59,823
Net income (loss)	40,464			89,190		(5,311		)	—			124,343
Other comprehensive (loss) income	(781		)	5,739		(4,725		)	—			233
Total comprehensive income (loss)	$	39,683		$	94,929	$	(10,036	)	$	—		$	124,576

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:



	For the Six Months Ended September 30, 2014
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	1,752,016		$	147,255		$	(8,243	)	$	1,891,028

Operating costs and expenses:
Cost of sales	—			1,343,290			121,215			(8,243		)	1,456,262
Selling, general and administrative	22,663			95,647			16,169			—			134,479
Depreciation and amortization	1,264			68,573			6,728			—			76,565
Relocation costs	—			3,193			—			—			3,193
Gain on legal settlement, net of expenses	(134,693		)	—			—			—			(134,693		)
	(110,766		)	1,510,703			144,112			(8,243		)	1,535,806
Operating income	110,766			241,313			3,143			—			355,222
Intercompany interest and charges	(105,634		)	101,672			3,962			—			—
Interest expense and other	56,298			4,543			(3,095		)	—			57,746
Income before income taxes	160,102			135,098			2,276			—			297,476
Income tax expense (benefit)	51,737			51,370			(1,321		)	—			101,786
Net income	108,365			83,728			3,597			—			195,690
Other comprehensive loss	(84		)	(3,066		)	(10,056		)	—			(13,206		)
Total comprehensive income (loss)	$	108,281		$	80,662		$	(6,459	)	$	—		$	182,484


12.	SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Continued)

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS:



	For the Six Months Ended September 30, 2015
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net income (loss)	$	40,464		$	89,190		$	(5,311	)	$	—		$	124,343

Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities	4,328			(320,943		)	7,972			5,845			(302,798		)
Net cash provided by (used in) operating activities	44,792			(231,753		)	2,661			5,845			(178,455		)
Capital expenditures	(338		)	(30,316		)	(7,474		)	—			(38,128		)
Proceeds from sale of assets	—			1,408			153			—			1,561
Acquisitions, net of cash acquired	—			14			(6,000		)	—			(5,986		)
Net cash used in investing activities	(338		)	(28,894		)	(13,321		)	—			(42,553		)
Net increase in revolving credit facility	166,094			—			—			—			166,094
Proceeds on issuance of debt	—			6,497			101,800			—			108,297
Retirements and repayments of debt	(9,511		)	(11,596		)	(23,100		)	—			(44,207		)
Payments of deferred financing costs	(143		)	—			—			—			(143		)
Dividends paid	(3,943		)	—			—			—			(3,943		)
Repurchase of restricted shares for minimum tax obligation	(96		)	—			—			—			(96		)
Intercompany financing and advances	(196,863		)	265,639			(62,931		)	(5,845		)	—
Net cash (used in) provided by financing activities	(44,462		)	260,540			15,769			(5,845		)	226,002
Effect of exchange rate changes on cash	—			—			1,478			—			1,478
Net change in cash and cash equivalents	(8		)	(107		)	6,587			—			6,472
Cash and cash equivalents at beginning of period	620			419			31,578			—			32,617
Cash and cash equivalents at end of period	$	612		$	312		$	38,165		$	—		$	39,089


12.	SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Continued)

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS:



	For the Six Months Ended September 30, 2014
	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated Total
Net income	$	108,365		$	83,728		$	3,597		$	—		$	195,690

Adjustments to reconcile net income to net cash (used in) provided by operating activities	(218,022		)	249,129			21,295			10,323			62,725
Net cash (used in) provided by operating activities	(109,657		)	332,857			24,892			10,323			258,415
Capital expenditures	(152		)	(49,296		)	(9,626		)	—			(59,074		)
Reimbursed capital expenditures	—			553			—			—			553
Proceeds from sale of assets	—			1,124			68			—			1,192
Acquisitions, net of cash acquired	—			—			(73,901		)	—			(73,901		)
Net cash used in investing activities	(152		)	(47,619		)	(83,459		)	—			(131,230		)
Net increase in revolving credit facility	68,421			—			—			—			68,421
Proceeds on issuance of debt	300,000			20,160			22,800			—			342,960
Retirements and repayments of debt	(391,725		)	(10,218		)	(25,400		)	—			(427,343		)
Purchase of common stock	(93,018		)	—			—			—			(93,018		)
Payments of deferred financing costs	(5,513		)	—			—			—			(5,513		)
Dividends paid	(4,090		)	—			—			—			(4,090		)
Withholding of restricted shares for minimum tax obligation	(673		)	—			—			—			(673		)
Repayment of government grant	—			(3,198		)	—			—			(3,198		)
Proceeds from exercise of stock options	356			—			—			—			356
Intercompany financing and advances	233,859			(292,557		)	69,021			(10,323		)	—
Net cash provided by (used in) financing activities	107,617			(285,813		)	66,421			(10,323		)	(122,098		)
Effect of exchange rate changes on cash	—			—			(719		)	—			(719		)
Net change in cash and cash equivalents	(2,192		)	(575		)	7,135			—			4,368
Cash and cash equivalents at beginning of period	2,820			1,149			25,029			—			28,998
Cash and cash equivalents at end of period	$	628		$	574		$	32,164		$	—		$	33,366