COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Jun. 30, 2015

Commitments and Contingencies Disclosure [Abstract]

As shown in the table below, we expect to make additional capital expenditures over the next five fiscal years to purchase additional aircraft. As of June 30, 2015, we had 46 aircraft on order and options to acquire an additional 21 aircraft. Although a similar number of our existing aircraft may be sold during the same period, the additional aircraft on order will provide incremental fleet capacity in terms of revenue and operating income. As discussed in the fiscal year 2015 Financial Statements, we were awarded a contract to provide civilian SAR services for all of the U.K. The SAR configured aircraft on order in the table below are intended to service this contract and other SAR contracts.



	Nine Months Ending March 31, 2016		Fiscal Year Ending March 31,
	Nine Months Ending March 31, 2016		2017		2018		2019		2020 and thereafter		Total
Commitments as of June 30, 2015: ⁽¹⁾
Number of aircraft:
Medium	10		—		—		—		—		10
Large⁽²⁾	7		6		8		4		3		28
SAR configured	4		4		—		—		—		8
	21		10		8		4		3		46
Related expenditures (in thousands)⁽³⁾
Medium and large	$	244,379	$	112,547	$	108,094	$	58,946	$	31,550	$	555,516
SAR configured	56,778		58,428		—		—		—		115,206
	$	301,157	$	170,975	$	108,094	$	58,946	$	31,550	$	670,722
Options as of June 30, 2015:⁽²⁾
Number of aircraft:
Medium	—		2		7		—		—		9
Large ⁽²⁾	—		5		7		—		—		12
	—		7		14		—		—		21

Related expenditures (in thousands)⁽³⁾	$	46,180	$	202,279	$	184,692	$	—	$	—	$	433,151

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⁽¹⁾	Signed client contracts are currently in place that will utilize 11 of these aircraft.


⁽²⁾	Seventeen large aircraft on order expected to enter service between fiscal years 2017 and 2020 are subject to the successful development and certification of the aircraft.


⁽³⁾	Includes progress payments on aircraft scheduled to be delivered in future periods.

Rollforward schedule of aircraft purchase orders and options

The following chart presents an analysis of our aircraft orders and options during the three months ended June 30, 2015:



	Orders		Options
Beginning of period	45		30
Aircraft delivered	(2	)	—
Exercised options	3		(3	)
Expired options	—		(6	)
End of period	46		21

Aircraft Lease Table

The following is a summary of the terms related to aircraft leased under operating leases with original or remaining terms in excess of one year as of June 30, 2015:



End of Lease Term	Number of Aircraft	Monthly Lease Payments (in thousands)
Nine months ending March 31, 2016 to fiscal year 2017	12	$	1,680
Fiscal year 2018 to fiscal year 2020	48	9,294
Fiscal year 2021 to fiscal year 2024	24	2,703
	84	$	13,677