FAIR VALUE DISCLOSURES (Tables)

3 Months Ended

Jun. 30, 2018

The following table summarizes the assets as of June 30, 2017, 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 June 30, 2017		Total Loss for the Three Months Ended June 30, 2017
Inventories	$	—	$	1,252	$	—	$	1,252	$	(1,192	)
Assets held for sale	—		34,585		—		34,585		(1,564		)
Total assets	$	—	$	35,837	$	—	$	35,837	$	(2,756	)

The following table summarizes the financial instruments we had as of June 30, 2018, 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 June 30, 2018		Balance Sheet Classification
Derivative financial instruments	$	—	$	3,333	$	—	$	3,333	Prepaid expenses and other current assets
Rabbi Trust investments	2,020		—		—		2,020		Other assets
Total assets	$	2,020	$	3,333	$	—	$	5,353

The following table summarizes the financial instruments we had as of March 31, 2018, 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, 2018		Balance Sheet Classification
Derivative financial instruments	$	—	$	718	$	—	$	718	Prepaid expenses and other current assets
Rabbi Trust investments	2,296		—		—		2,296		Other assets
Total assets	$	2,296	$	718	$	—	$	3,014

The carrying and fair value of our debt, excluding unamortized debt issuance costs, are as follows (in thousands):



	June 30, 2018				March 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
8.75% Senior Secured Notes due 2023 ⁽¹⁾	$	346,807	$	340,830	$	346,610	$	353,500
4½% Convertible Senior Notes due 2023 ⁽²⁾	108,710		164,349		107,397		158,772
6¼% Senior Notes due 2022	401,535		312,193		401,535		325,243
Lombard Debt	195,467		195,467		211,087		211,087
Macquarie Debt	181,528		181,528		185,028		185,028
PK Air Debt	225,615		225,615		230,000		230,000
Airnorth Debt	13,126		13,126		13,832		13,832
Eastern Airways Debt	11,556		11,556		14,519		14,519
Other Debt	5,716		5,716		3,991		3,991
	$	1,490,060	$	1,450,380	$	1,513,999	$	1,495,972

_____________


⁽¹⁾	The carrying value is net of unamortized discount of $3.2 million and $3.4 million as of June 30, 2018 and March 31, 2018, respectively.


⁽²⁾	The carrying value is net of unamortized discount of $35.0 million and $36.4 million as of June 30, 2018