BASIS OF PRESENTATION, CONSOLIDATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Jun. 30, 2015

Basis Of Presentation, Consolidation And Summary Of Significant Accounting Policies [Abstract]

The value of these currencies has fluctuated relative to the U.S. dollar as indicated in the following table:



	Three Months Ended June 30,
	2015	2014
One British pound sterling into U.S. dollars
High	1.59	1.71
Average	1.53	1.68
Low	1.46	1.66
At period-end	1.57	1.71
One euro into U.S. dollars
High	1.14	1.39
Average	1.11	1.37
Low	1.06	1.35
At period-end	1.11	1.37
One Australian dollar into U.S. dollars
High	0.81	0.94
Average	0.78	0.93
Low	0.76	0.92
At period-end	0.77	0.94
One Norwegian kroner into U.S. dollars
High	0.1370	0.1753
Average	0.1291	0.1717
Low	0.1234	0.1638
At period-end	0.1267	0.1649
One Nigerian naira into U.S. dollars
High	0.0051	0.0063
Average	0.0051	0.0062
Low	0.0050	0.0061
At period-end	0.0050	0.0062

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Source: Bank of England and Oanda.com

The value of the Brazilian real has fluctuated relative to the U.S. dollar as indicated in the following table:



	Three Months Ended June 30,
	2015	2014
One Brazilian real into U.S. dollars
High	0.3435	0.4572
Average	0.3258	0.4493
Low	0.3108	0.4391
At period-end	0.3184	0.4538

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Source: Oanda.com

Schedule of foreign exchange impact

We estimate that the fluctuation of currencies versus the same period in the prior fiscal year had the following effect on our financial condition and results of operations (in thousands):



	Three Months Ended June 30, 2015
Revenue	$	(40,068	)
Operating expense	33,957
Earnings from unconsolidated affiliates, net of losses	1,386
Non-operating expense	4,255
Income before provision for income taxes	(470		)
Provision for income taxes	108
Net income	(362		)
Cumulative translation adjustment	14,714
Total stockholders’ investment	$	14,352

Interest income and interest expense disclosure

During the three months ended June 30, 2015 and 2014, interest expense, net consisted of the following (in thousands):



	Three Months Ended June 30,
	2015			2014
Interest income	$	221		$	236
Interest expense	(7,890		)	(7,363		)
Interest expense, net	$	(7,669	)	$	(7,127	)

Schedule of capital expenditures

During the three months ended June 30, 2015 and 2014, we made capital expenditures as follows:



	Three Months Ended June 30,
	2015		2014
Number of aircraft delivered:
Medium	1		3
Large	1		6
Total aircraft	2		9
Capital expenditures (in thousands):
Aircraft and related equipment ⁽¹⁾	$	40,462	$	172,098
Other	27,315		28,349
Total capital expenditures	$	67,777	$	200,447

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⁽¹⁾	During the three months ended June 30, 2015 and 2014, we spent $28.3 million and $161.0 million, respectively, on construction in progress, which primarily represents progress payments on aircraft to be delivered in future periods.

Schedule of aircraft sales and impairments

The following table presents details on the aircraft sold or disposed of and impairments on assets held for sale during the three months ended June 30, 2015 and 2014:



	Three Months Ended June 30,
	2015		2014
	(In thousands, except for number of aircraft)

Number of aircraft sold or disposed of	9		4
Proceeds from sale or disposal of assets	$	9,301	$	6,643
Gain from sale or disposal of assets	$	2,167	$	3,189

Number of aircraft impaired	9		4
Impairment charges on aircraft held for sale	$	9,862	$	2,579