COMMITMENTS AND CONTINGENCIES (Tables)

As shown in the table below, we expect to make additional capital expenditures over the next five fiscal years to purchase additional aircraft. As of March 31, 2015, we had 45 aircraft on order and options to acquire an additional 30 aircraft. Although a similar number of our existing aircraft may be sold during the same period, the additional aircraft on order will provide incremental fleet capacity in terms of revenue and operating income. As discussed in Note 1, we were awarded a contract to provide civilian SAR services for all of the U.K. The SAR configured aircraft on order in the table below are intended to service this contract and other SAR contracts.



	Fiscal Year Ending March 31,
	2016		2017		2018		2019 and beyond		Total
Commitments as of March 31, 2015: ^{(1) (2)}
Number of aircraft:
Medium	8		—		—		—		8
Large ⁽³⁾	10		5		6		7		28
SAR configured	9		—		—		—		9
	27		5		6		7		45
Related expenditures (in thousands)^{(2) (4)}
Medium and large	$	293,821	$	88,547	$	75,936	$	87,231	$	545,535
SAR configured	122,796		—		—		—		122,796
	$	416,617	$	88,547	$	75,936	$	87,231	$	668,331
Options as of March 31, 2015:
Number of aircraft:
Medium	3		4		7		—		14
Large ⁽³⁾	—		9		7		—		16
	3		13		14		—		30

Related expenditures (in thousands)⁽³⁾	$	124,382	$	286,814	$	183,060	$	—	$	594,256

_________


⁽¹⁾	Signed client contracts are currently in place that will utilize 13 of these aircraft.


⁽²⁾	Excludes commitments related to sale leaseback advance. See Note 1 for further details.


⁽³⁾	Seventeen large aircraft on order expected to enter service between fiscal years 2017 and 2020 are subject to the successful development and certification of the aircraft.


⁽⁴⁾	Includes progress payments on aircraft scheduled to be delivered in future periods.

The following chart presents an analysis of our aircraft orders and options during fiscal years 2015, 2014 and 2013:



	Fiscal Year Ended March 31,
	2015				2014				2013
	Orders		Options		Orders		Options		Orders		Options
Beginning of fiscal year	43		55		45		70		15		40
Aircraft delivered	(18	)	—		(21	)	—		(8	)	—
Aircraft ordered	8		—		18		—		26		—
New options	—		—		—		—		—		42
Exercised options	12		(12	)	8		(8	)	12		(12	)
Expired options	—		(13	)	—		(7	)	—		—
Orders assigned subject to leaseback ⁽¹⁾	—		—		(7	)	—		—		—
End of fiscal year	45		30		43		55		45		70

___________


⁽¹⁾	During fiscal year 2014, we transferred our interest in seven aircraft previously ordered in return for $106.1 million in progress payments previously paid on these aircraft.

As of March 31, 2015, aggregate future payments under all non-cancelable operating leases that have initial or remaining terms in excess of one year, including leases for 82 aircraft, are as follows (in thousands):



	Aircraft		Other		Total
Fiscal year ending March 31,
2016	$	158,066	$	8,378	$	166,444
2017	155,450		7,798		163,248
2018	137,407		8,864		146,271
2019	110,139		8,566		118,705
2020	72,232		7,560		79,792
Thereafter	26,999		51,615		78,614
	$	660,293	$	92,781	$	753,074

The following is a summary of the terms related to aircraft leased under operating leases with original or remaining terms in excess of one year:



End of Lease Term	Number of Aircraft	Monthly Lease Payments (in thousands)
Fiscal year 2016 to fiscal year 2017	11	$	1,627
Fiscal year 2018 to fiscal year 2020	49	9,512
Fiscal year 2021 to fiscal year 2024	22	2,004
	82	$	13,143