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OTHER GAINS - NET | 12 Months Ended
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Mar. 31, 2018
Analysis of income and expense [abstract] |
OTHER GAINS - NET | OTHER GAINS – NET
| 2018 |  |  | 2017 |
Disposal of property, plant and equipment | $ | 9.7 |  |  | $ | 7.7 |
Net foreign exchange gains | 2.5 |  |  | 0.1 |
Net loss on litigation | — |  |  | (1.1 | )
Disposal of interest in investment | 14.3 |  |  | — |
Remeasurement of investment, net of reorganization and others costs | 12.2 |  |  | — |
Other | (1.3 | ) |  | 6.0 |
Other gains – net | $ | 37.4 |  |  | $ | 12.7 |
Disposal of interest in investment During the second quarter of fiscal 2018, the Company disposed of its 49% interest in Zhuhai Xiang Yi Aviation Technology Company Limited, an equity accounted investee, for a net cash proceeds of $114.0 million. Upon disposal of this investment, $6.3 million of goodwill was derecognized and an impairment of $7.0 million was recognized with respect to a related investment in an equity account investee. The Company realized a net gain on disposal of $14.3 million. Remeasurement of investment and reorganization costs During the third quarter, the Company’s interest in AACE increased from 50% to 100%, obtaining control of AACE (Note 3). Before the transaction, the Company’s 50% ownership interest in AACE was accounted for using the equity method. The remeasurement to fair value of the previously held interest in AACE generated a gain of $34.7 million. In addition, $4.6 million of goodwill was derecognized, costs of $8.5 million, including acquisition costs of $1.5 million and a write-down of assets for $9.4 million were incurred. Accordingly, the Company recognized a net gain upon remeasurement of $12.2 million. Also in the quarter, reorganization and other costs of $8.2 million were incurred resulting in a gain upon remeasurement net of overall costs incurred in the amount of $4.0 million.

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