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INVENTORIES | 12 Months Ended
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Mar. 31, 2023
Inventory Disclosure [Abstract] |
INVENTORIES | INVENTORIES Inventories consisted of the following (in thousands):
| Year Ended March 31,
| 2023 |  | 2022
Overnight air cargo: |  |  |
Finished goods | 546 |  |  | 28 |
Ground equipment manufacturing: |  |  |
Raw materials | 4,589 |  |  | 4,688 |
Work in process | 153 |  |  | 2,437 |
Finished goods | 6,976 |  |  | 9,264 |
Corporate and other: |  |  |
Raw materials | 794 |  |  | 705 |
Finished goods | 726 |  |  | 728 |
Commercial jet engines and parts: |  |  |
Whole engines available for sale or tear-down | 10,141 |  |  | 15,403 |
Parts | 50,813 |  |  | 45,036 |
Total inventories | 74,738 |  |  | 78,289 |
Reserves | (3,613) |  |  | (3,122) |
Total inventories, net of reserves | $ | 71,125 |  |  | $ | 75,167 |
A write-down of $7.3 million was recorded on the inventory of the commercial jet engines and parts segment during the fiscal year ended March 31, 2023, of which, $5.4 million was due to a management decision to monetize three engines by sale to a third party, in which the net carrying values exceeded the estimated proceeds. The remainder of the write-down was attributable to our evaluation of the carrying value of inventory as of March 31, 2023, where we compared its cost to its net realizable value and considered factors such as physical condition, sales patterns and expected future demand to estimate the amount necessary to write down any slow moving, obsolete or damaged inventory.

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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 330 -URI https://asc.fasb.org/topic&trid=2126998 + Details
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