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FAIR VALUE DISCLOSURES (Tables)
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9 Months Ended |
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Dec. 31, 2014
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| Fair Value Disclosures [Abstract] |
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| Schedule of fair value assets measured on non-recurring basis |
The following table summarizes the assets as of December 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
December 31,
2014 | | Total
Loss for the
Three Months
Ended
December 31,
2014 | | Total
Loss for the
Nine Months
Ended
December 31,
2014 | Inventories | | $ | — |
| | $ | 4,588 |
| | $ | — |
| | $ | 4,588 |
| | $ | (3,805 | ) | | $ | (7,167 | ) | Assets held for sale | | — |
| | 15,313 |
| | — |
| | 15,313 |
| | (25,614 | ) | | (28,751 | ) | Total assets | | $ | — |
| | $ | 19,901 |
| | $ | — |
| | $ | 19,901 |
| | $ | (29,419 | ) | | $ | (35,918 | ) |
The following table summarizes the assets as of December 31, 2013, 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
December 31,
2013 | | Total
Loss for the
Three Months
Ended
December 31,
2013 | | Total
Loss for the
Nine Months
Ended
December 31,
2013 | Inventories | | $ | — |
| | $ | 13,424 |
| | $ | — |
| | $ | 13,424 |
| | $ | — |
| | $ | (2,364 | ) | Assets held for sale | | — |
| | 6,733 |
| | — |
| | 6,733 |
| | (1,234 | ) | | (3,414 | ) | Total assets | | $ | — |
| | $ | 20,157 |
| | $ | — |
| | $ | 20,157 |
| | $ | (1,234 | ) | | $ | (5,778 | ) |
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| 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 our investment in Cougar. For further details on the Cougar investment, see Note 3 to the fiscal year 2014 Financial Statements. |
The following table summarizes the financial instruments we had as of December 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
December 31,
2014 | | Balance Sheet
Classification | Rabbi Trust investments | | $ | 5,546 |
| | $ | — |
| | $ | — |
| | $ | 5,546 |
| | Other assets | Total assets | | $ | 5,546 |
| | $ | — |
| | $ | — |
| | $ | 5,546 |
| | | | | | | | | | | | | | Contingent consideration: (1) | | | | | | | | | | | Current | | $ | — |
| | $ | — |
| | $ | 7,845 |
| | $ | 7,845 |
| | Other accrued liabilities | Long-term | | — |
| | — |
| | 24,250 |
| | 24,250 |
| | Other liabilities and deferred credits | Total liabilities | | $ | — |
| | $ | — |
| | $ | 32,095 |
| | $ | 32,095 |
| | |
______________
| | (1) | Relates to our investment in Cougar Helicopters Inc. (“Cougar”). For further details on the Cougar investment, see Note 3 to the fiscal year 2014 Financial Statements. |
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| Schedule of contingent consideration |
The following table provides a rollforward of the contingent consideration liability Level 3 fair value measurements during the nine months ended December 31, 2014 (in thousands): | | | | | | | | | | Significant Unobservable Inputs (Level 3) | Balance as of March 31, 2014 | | $ | 31,322 | | Change in fair value of contingent consideration | | 773 | | Balance as of December 31, 2014 | | $ | 32,095 | |
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| 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): | | | | | | | | | | | | | | | | | | | | December 31, 2014 | | March 31, 2014 | | | Carrying Value | | Fair Value | | Carrying Value | | Fair Value | 6¼% Senior Notes | | $ | 401,535 |
| | $ | 399,527 |
| | $ | 450,000 |
| | $ | 477,000 |
| Term Loan | | 223,288 |
| | 223,288 |
| | 226,604 |
| | 226,604 |
| 3% Convertible Senior Notes | | 113,025 |
| | 119,600 |
| | 109,904 |
| | 142,382 |
| Revolving Credit Facility | | 58,500 |
| | 58,500 |
| | 24,000 |
| | 24,000 |
| Eastern Airways debt | | 21,840 |
| | 21,840 |
| | 29,911 |
| | 29,911 |
| Other | | — |
| | — |
| | 883 |
| | 883 |
| | | $ | 818,188 |
| | $ | 822,755 |
| | $ | 841,302 |
| | $ | 900,780 |
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