FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Mar. 31, 2015

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, 2014, 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, 2014		Total Loss for Fiscal Year 2014
Inventories	$	—	$	50,505	$	—	$	50,505	$	(12,669	)
Assets held for sale	—		16,050		—		16,050		(6,814		)
Total assets	$	—	$	66,555	$	—	$	66,555	$	(19,483	)

Schedule of fair value assets measured on recurring basis

The following table summarizes the financial instruments we had as of March 31, 2014, 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, 2014		Balance Sheet Classification
Rabbi Trust investments	$	6,599	$	—	$	—	$	6,599	Other assets
Total assets	$	6,599	$	—	$	—	$	6,599
Contingent consideration ⁽¹⁾:
Current	$	—	$	—	$	7,652	$	7,652	Other accrued liabilities
Long-term	$	—	$	—	$	23,670	$	23,670	Other liabilities and deferred credits
Total liabilities	$	—	$	—	$	31,322	$	31,322

_____________


⁽¹⁾	Relates to an investment in Cougar (see Note 3).

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 as of 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	Other accrued liabilities
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).

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table provides a rollforward of the contingent consideration liability Level 3 fair value measurements during fiscal year 2015 (in thousands):



	Significant Unobservable Inputs (Level 3)
Contingent consideration:
Balance as of March 31, 2014	$	31,322
Change in fair value of contingent consideration	1,177
Airnorth acquisition	6,406
Balance as of March 31, 2015	$	38,905

Schedule of 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,
	2015				2014
	Carrying Value		Fair Value		Carrying Value		Fair Value
6 ¼% Senior Notes	$	401,535	$	381,458	$	450,000	$	477,000
Term Loan	222,179		222,179		226,604		226,604
3% Convertible Senior Notes	114,109		115,288		109,904		142,382
Revolving Credit Facility	83,800		83,800		24,000		24,000
Airnorth debt	23,119		23,119		—		—
Eastern Airways debt	19,680		19,680		29,911		29,911
Other debt	—		—		883		883
	$	864,422	$	845,524	$	841,302	$	900,780

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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