INVENTORIES

12 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consisted of the following (in thousands):

	Year Ended March 31,
	2021		2020
Ground equipment manufacturing:
Raw materials	4,695		4,192
Work in process	5,820		2,731
Finished goods	1,691		1,725
Corporate and Other:
Raw materials	462		464
Finished goods	889		910
Commercial jet engines and parts:	60,516		51,084
Total inventories	74,073		61,106
Reserves	(2,102)		(483)
Total, net of reserves	$	71,971	$	60,623

A write-down of $6.4 million was recorded on the inventory of the commercial jet engines and parts segment during the fiscal year ended March 31, 2021. Of the total write-down, $0.5 million was driven by a management decision to monetize two engines by sale to a third party, in which the net carrying values exceeded the estimated proceeds during the quarter ended September 30, 2020. The remaining write-down was attributable to our evaluation of the carrying value of inventory as of March 31, 2021, where we compared its cost to its net realizable value and considered factors such as physical condition, sales patterns and expected future demand to estimate the amount necessary to write down any slow moving, obsolete or damaged inventory.