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GAIN ON DISPOSITION OF ASSETS, NET | 12 Months Ended
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Mar. 31, 2017
Gain Loss On Disposition Of Assets [Abstract] |
GAIN ON DISPOSITION OF ASSETS, NET |
(14) | GAIN ON DISPOSITION OF ASSETS, NET
The company seeks opportunities to dispose its older vessels when market conditions warrant and opportunities arise. As such, vessel dispositions vary from year to year, and gains on sales of assets may also fluctuate significantly from period to period. The majority of the company’s vessels are sold to buyers who do not compete with the company in the offshore energy industry. The number of vessels disposed along with the gain on the dispositions for the years ended March 31, are as follows:
(In thousands, except number of vessels disposed) |  | 2017 |  |  | 2016 |  |  | 2015 |
Gain (loss) on vessels disposed |  | $ | (102 | ) |  |  | 3,252 |  |  |  | 2,988 |
Number of vessels disposed |  |  | 12 |  |  |  | 17 |  |  |  | 13 |
Included in gain on dispositions of assets, net in fiscal 2017 and fiscal 2016 are amortized gains on sale/leaseback transactions of $23.4 million and $23.4 million, respectively. Included in gain on dispositions of assets, net in fiscal 2015 are amortized gains on sale/leaseback transactions of $17.7 million as well as a $3 million gain related to the reversal of an accrued liability related to contingent consideration payable to the former owners of Troms Offshore based on not achieving certain performance metrics subsequent to Trom’s acquisition by the company.

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