FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of fair value assets measured on non-recurring basis

The following table summarizes the assets as of March 31, 2015, 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 March 31, 2015		Total Loss for Fiscal Year 2015
Inventories	$	—	$	3,139	$	—	$	3,139	$	(7,167	)
Assets held for sale	—		54,310		—		54,310		(36,057		)
Total assets	$	—	$	57,449	$	—	$	57,449	$	(43,224	)

The following table summarizes the assets as of March 31, 2016, 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 March 31, 2016		Total Loss for Fiscal Year 2016
Inventories	$	—	$	6,261	$	—	$	6,261	$	(5,439	)
Assets held for sale	—		43,783		—		43,783		(29,571		)
Goodwill	—		—		29,990		29,990		(41,579		)
Other intangible assets	—		—		—		—		(8,086		)
Total assets	$	—	$	50,044	$	29,990	$	80,034	$	(84,675	)

Schedule of fair value assets measured on recurring basis

The following table summarizes the financial instruments we had as of March 31, 2015, 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 at March 31, 2015		Balance Sheet Classification
Rabbi Trust investments	$	2,379	$	—	$	—	$	2,379	Other assets
Total assets	$	2,379	$	—	$	—	$	2,379
Contingent consideration (1):
Current	$	—	$	—	$	33,938	$	33,938	Contingent consideration
Long-term	—		—		4,967		4,967		Other liabilities and deferred credits
Total liabilities	$	—	$	—	$	38,905	$	38,905

_______________ 

⁽¹⁾  Relates to our investments in Cougar totaling $32.5 million and Airnorth totaling $6.4 million (see Note 3).

The following table summarizes the financial instruments we had as of March 31, 2016, 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, 2016		Balance Sheet Classification
Rabbi Trust investments	$	2,990	$	—	$	—	$	2,990	Other assets
Total assets	$	2,990	$	—	$	—	$	2,990
Contingent consideration (1):
Current	$	—	$	—	$	29,522	$	29,522	Contingent consideration
Long-term	—		—		3,069		3,069		Other liabilities and deferred credits
Total liabilities	$	—	$	—	$	32,591	$	32,591

_______________ 

⁽¹⁾  Relates to our investments in Cougar totaling $26.0 million and Airnorth totaling $6.6 million (see Note 3).

Fair value, liabilities measured on recurring basis, unobservable input reconciliation

The following table provides a rollforward of the contingent consideration liability Level 3 fair value measurements during fiscal year 2016 (in thousands):

	Significant Unobservable Inputs (Level 3)
Contingent consideration:
Balance as of March 31, 2015	$	38,905
Change in fair value of contingent consideration	3,139
Payment of Airnorth first year earn-out	(1,453		)
Payment of Cougar second year earn-out	(8,000		)
Balance as of March 31, 2016	$	32,591

Schedule of carrying value and fair value of debt

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

	March 31,
	2016				2015
	Carrying Value		Fair Value		Carrying Value		Fair Value
6 ¼% Senior Notes	$	401,535	$	277,059	$	401,535	$	381,458
Term Loan	335,665		335,665		222,179		222,179
Term Loan Credit Facility	200,000		200,000		—		—
Revolving Credit Facility	144,000		144,000		83,800		83,800
Airnorth debt	19,652		19,652		23,119		23,119
Eastern Airways debt	15,643		15,643		19,680		19,680
Other debt	24,394		24,394		—		—
3% Convertible Senior Notes	—		—		114,109		115,288
	$	1,140,889	$	1,016,413	$	864,422	$	845,524