FAIR VALUE DISCLOSURES (Tables)

9 Months Ended

Dec. 31, 2014

Schedule of fair value assets measured on non-recurring basis

The following table summarizes the assets as of December 31, 2014, valued at fair value on a non-recurring basis (in thousands):



	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance as of December 31, 2014		Total Loss for the Three Months Ended December 31, 2014			Total Loss for the Nine Months Ended December 31, 2014
Inventories	$	—	$	4,588	$	—	$	4,588	$	(3,805	)	$	(7,167	)
Assets held for sale	—		15,313		—		15,313		(25,614		)	(28,751		)
Total assets	$	—	$	19,901	$	—	$	19,901	$	(29,419	)	$	(35,918	)

The following table summarizes the assets as of December 31, 2013, valued at fair value on a non-recurring basis (in thousands):



	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance as of December 31, 2013		Total Loss for the Three Months Ended December 31, 2013			Total Loss for the Nine Months Ended December 31, 2013
Inventories	$	—	$	13,424	$	—	$	13,424	$	—		$	(2,364	)
Assets held for sale	—		6,733		—		6,733		(1,234		)	(3,414		)
Total assets	$	—	$	20,157	$	—	$	20,157	$	(1,234	)	$	(5,778	)

Schedule of fair value assets measured on recurring basis

The following table summarizes the financial instruments we had as of March 31, 2014, valued at fair value on a recurring basis (in thousands):



	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance as of March 31, 2014		Balance Sheet Classification
Rabbi Trust investments	$	6,599	$	—	$	—	$	6,599	Other assets
Total assets	$	6,599	$	—	$	—	$	6,599

Contingent consideration: ⁽¹⁾
Current	$	—	$	—	$	7,652	$	7,652	Other accrued liabilities
Long-term	—		—		23,670		23,670		Other liabilities and deferred credits
Total liabilities	$	—	$	—	$	31,322	$	31,322

______________


⁽¹⁾	Relates to our investment in Cougar. For further details on the Cougar investment, see Note 3 to the fiscal year 2014 Financial Statements.

The following table summarizes the financial instruments we had as of December 31, 2014, valued at fair value on a recurring basis (in thousands):



	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balance as of December 31, 2014		Balance Sheet Classification
Rabbi Trust investments	$	5,546	$	—	$	—	$	5,546	Other assets
Total assets	$	5,546	$	—	$	—	$	5,546

Contingent consideration: ⁽¹⁾
Current	$	—	$	—	$	7,845	$	7,845	Other accrued liabilities
Long-term	—		—		24,250		24,250		Other liabilities and deferred credits
Total liabilities	$	—	$	—	$	32,095	$	32,095

______________


⁽¹⁾	Relates to our investment in Cougar Helicopters Inc. (“Cougar”). For further details on the Cougar investment, see Note 3 to the fiscal year 2014 Financial Statements.

Schedule of contingent consideration

The following table provides a rollforward of the contingent consideration liability Level 3 fair value measurements during the nine months ended December 31, 2014 (in thousands):

Schedule of fair value of debt

The carrying and fair value of our long-term debt, including the current portion, are as follows (in thousands):



	December 31, 2014				March 31, 2014
	Carrying Value		Fair Value		Carrying Value		Fair Value
6¼% Senior Notes	$	401,535	$	399,527	$	450,000	$	477,000
Term Loan	223,288		223,288		226,604		226,604
3% Convertible Senior Notes	113,025		119,600		109,904		142,382
Revolving Credit Facility	58,500		58,500		24,000		24,000
Eastern Airways debt	21,840		21,840		29,911		29,911
Other	—		—		883		883
	$	818,188	$	822,755	$	841,302	$	900,780

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References+ Details

Significant
Unobservable
Inputs (Level 3)

Balance as of March 31, 2014

Change in fair value of contingent consideration

Balance as of December 31, 2014