Triumph (TGI) 10-Q 9 Nov 21 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2021	Nov. 05, 2021
Document Information [Line Items]
Document Period End Date	Sep. 30, 2021
Entity Registrant Name	TRIUMPH GROUP, INC.
Entity Central Index Key	0001021162
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		64,611,338
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0347963
Entity File Number	1-12235
Entity Address, Address Line One	899 Cassatt Road
Entity Address, Address Line Two	Suite 210
Entity Address, City or Town	Berwyn
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19312
City Area Code	610
Local Phone Number	251-1000
Document Quarterly Report	true
Document Transition Report	false
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $.001 per share
Trading Symbol	TGI
Security Exchange Name	NYSE
Purchase Rights [Member]
Document Information [Line Items]
Title of 12(b) Security	Purchase Rights
No Trading Symbol Flag	true
Security Exchange Name	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 194,122	$ 589,882
Trade and other receivables, less allowance for credit losses of $8,098 and $8,095	175,267	194,066
Contract assets	150,408	134,638
Inventory, net	387,906	400,366
Prepaid expenses and other current assets	16,278	19,206
Assets held for sale		216,276
Total current assets	968,380	1,554,434
Property and equipment, net	179,079	211,369
Goodwill	516,079	521,638
Intangible assets, net	90,430	102,453
Other, net	46,749	61,041
Total assets	1,800,717	2,450,935
Current liabilities:
Current portion of long-term debt	3,637	5,247
Accounts payable	142,600	179,473
Contract liabilities	159,691	204,379
Accrued expenses	235,714	271,160
Liabilities related to assets held for sale	7,368	58,108
Total current liabilities	549,010	718,367
Long-term debt, less current portion	1,606,052	1,952,296
Accrued pension and other postretirement benefits	344,557	384,256
Deferred income taxes	7,479	7,491
Other noncurrent liabilities	122,488	207,378
Stockholders' deficit:
Common stock, $.001 par value, 100,000,000 shares authorized, 64,601,735 and 64,488,674 shares issued; 64,601,353 and 64,185,001 shares outstanding	65	64
Capital in excess of par value	968,090	978,272
Treasury stock, at cost, 382 and 303,673 shares	(7)	(12,606)
Accumulated other comprehensive loss	(503,205)	(530,192)
Accumulated deficit	(1,293,812)	(1,254,391)
Total stockholders' deficit	(828,869)	(818,853)
Total liabilities and stockholders' deficit	$ 1,800,717	$ 2,450,935

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Statement Of Financial Position [Abstract]
Allowance for credit losses	$ 8,098	$ 8,095
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	64,601,735	64,488,674
Common stock, shares outstanding	64,601,353	64,185,001
Treasury stock, shares	382	303,673

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net sales	$ 357,396	$ 481,815	$ 754,042	$ 976,892
Operating costs and expenses:
Cost of sales (exclusive of depreciation shown separately below)	262,335	382,072	556,013	775,915
Selling, general and administrative	54,108	56,239	110,359	113,442
Depreciation and amortization	12,945	22,098	28,376	50,700
Impairment of long-lived assets				252,382
Restructuring	3,897	13,237	8,382	28,676
Loss on sale of assets and businesses	7,660	747	13,629	747
Operating Expenses	340,945	474,393	716,759	1,221,862
Operating income (loss)	16,451	7,422	37,283	(244,970)
Non-service defined benefit income	(10,449)	(12,427)	(8,727)	(24,843)
Debt extinguishment loss			9,689
Interest expense and other, net	34,183	52,506	72,741	87,463
Loss from continuing operations before income taxes	(7,283)	(32,657)	(36,420)	(307,590)
Income tax expense	1,787	832	3,001	1,685
Net loss	$ (9,070)	$ (33,489)	$ (39,421)	$ (309,275)
Loss per share—basic:
Net loss	$ (0.14)	$ (0.64)	$ (0.61)	$ (5.95)
Weighted average common shares outstanding—basic	64,545	52,011	64,427	51,941
Loss per share—diluted:
Net loss	$ (0.14)	$ (0.64)	$ (0.61)	$ (5.95)
Weighted average common shares outstanding—diluted	64,545	52,011	64,427	51,941

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net loss	$ (9,070)	$ (33,489)	$ (39,421)	$ (309,275)
Other comprehensive income:
Foreign currency translation adjustment	(5,692)	7,282	(2,943)	8,201
Amounts arising during the period - net of tax expense
Actuarial gain, net of taxes of $0, $0, $0, and $0, respectively	97		10,440
Reclassification to net loss - net of expense
Amortization of net loss, net of taxes of $0, $0, $0, and $0, respectively	8,533	5,298	17,011	10,596
Recognized prior service cost (credits), net of taxes of $0, $0, $0, and $0, respectively	2,576	(1,033)	4,384	(2,066)
Total defined benefit pension plans and other postretirement benefits, net of taxes	11,206	4,265	31,835	8,530
Cash flow hedges:
Unrealized (loss) gain arising during the period, net of tax expense of $0, $0, $0, and $0, respectively	(1,613)	2,772	(3,333)	6,430
Reclassification of gain (loss) included in net earnings, net of tax expense of $0, $0, $0, and $0, respectively	414	(541)	1,428	(2,099)
Net unrealized (loss) gain on cash flow hedges, net of tax	(1,199)	2,231	(1,905)	4,331
Total other comprehensive income	4,315	13,778	26,987	21,062
Total comprehensive loss	$ (4,755)	$ (19,711)	$ (12,434)	$ (288,213)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement Of Income And Comprehensive Income [Abstract]
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During the Period, Tax	$ 0	$ 0	$ 0	$ 0
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Tax	0	0	0	0
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax	0	0	0	0
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax	0	0	0	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Deficit - USD ($) $ in Thousands	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]	Accumulated Deficit [Member]
Balance at Mar. 31, 2020	$ (781,264)	$ 52	$ 804,830	$ (36,217)	$ (746,448)	$ (803,481)
Balance (in shares) at Mar. 31, 2020		51,858,089
Net loss	(275,786)					(275,786)
Foreign currency translation adjustment	919				919
Pension liability adjustment, net of income taxes	4,265				4,265
Change in fair value of foreign currency hedges, net of income taxes	2,100				2,100
Share-based compensation	2,621		(6,670)	9,291
Share-based compensation, shares		158,274
Repurchase of shares for share-based compensation minimum tax obligation	(474)			(474)
Repurchase of shares for share-based compensation minimum tax obligation, shares		(50,955)
Employee stock purchase plan	238		(1,974)	2,212
Employee stock purchase plan, shares		36,802
Balance at Jun. 30, 2020	(1,047,381)	$ 52	796,186	(25,188)	(739,164)	(1,079,267)
Balance (in shares) at Jun. 30, 2020		52,002,210
Balance at Mar. 31, 2020	(781,264)	$ 52	804,830	(36,217)	(746,448)	(803,481)
Balance (in shares) at Mar. 31, 2020		51,858,089
Foreign currency translation adjustment	8,201
Balance at Sep. 30, 2020	(1,064,357)	$ 52	794,619	(20,886)	(725,386)	(1,112,756)
Balance (in shares) at Sep. 30, 2020		52,078,690
Balance at Jun. 30, 2020	(1,047,381)	$ 52	796,186	(25,188)	(739,164)	(1,079,267)
Balance (in shares) at Jun. 30, 2020		52,002,210
Net loss	(33,489)					(33,489)
Foreign currency translation adjustment	7,282				7,282
Pension liability adjustment, net of income taxes	4,265				4,265
Change in fair value of foreign currency hedges, net of income taxes	2,231				2,231
Share-based compensation	2,536		(446)	2,982
Share-based compensation, shares		54,313
Repurchase of shares for share-based compensation minimum tax obligation	(21)			(21)
Repurchase of shares for share-based compensation minimum tax obligation, shares		(2,246)
Employee stock purchase plan	219		(1,122)	1,341
Employee stock purchase plan, shares		24,413
Balance at Sep. 30, 2020	(1,064,357)	$ 52	794,619	(20,886)	(725,386)	(1,112,756)
Balance (in shares) at Sep. 30, 2020		52,078,690
Balance at Mar. 31, 2021	(818,853)	$ 64	978,272	(12,606)	(530,192)	(1,254,391)
Balance (in shares) at Mar. 31, 2021		64,185,001
Net loss	(30,351)					(30,351)
Foreign currency translation adjustment	2,749				2,749
Pension liability adjustment, net of income taxes	20,629				20,629
Change in fair value of foreign currency hedges, net of income taxes	(706)				(706)
Share-based compensation	2,470		(11,505)	13,975
Share-based compensation, shares		355,821
Repurchase of shares for share-based compensation minimum tax obligation	(2,336)			(2,336)
Repurchase of shares for share-based compensation minimum tax obligation, shares		(116,796)
Employee stock purchase plan	172		(235)	407
Employee stock purchase plan, shares		9,794
Balance at Jun. 30, 2021	(826,226)	$ 64	966,532	(560)	(507,520)	(1,284,742)
Balance (in shares) at Jun. 30, 2021		64,433,820
Balance at Mar. 31, 2021	(818,853)	$ 64	978,272	(12,606)	(530,192)	(1,254,391)
Balance (in shares) at Mar. 31, 2021		64,185,001
Foreign currency translation adjustment	(2,943)
Balance at Sep. 30, 2021	(828,869)	$ 65	968,090	(7)	(503,205)	(1,293,812)
Balance (in shares) at Sep. 30, 2021		64,601,353
Balance at Jun. 30, 2021	(826,226)	$ 64	966,532	(560)	(507,520)	(1,284,742)
Balance (in shares) at Jun. 30, 2021		64,433,820
Net loss	(9,070)					(9,070)
Foreign currency translation adjustment	(5,692)				(5,692)
Pension liability adjustment, net of income taxes	11,206				11,206
Change in fair value of foreign currency hedges, net of income taxes	(1,199)				(1,199)
Share-based compensation	2,737	$ 1	1,480	1,256
Share-based compensation, shares		196,674
Repurchase of shares for share-based compensation minimum tax obligation	(782)			(782)
Repurchase of shares for share-based compensation minimum tax obligation, shares		(36,824)
Employee stock purchase plan	157		78	79
Employee stock purchase plan, shares		7,683
Balance at Sep. 30, 2021	$ (828,869)	$ 65	$ 968,090	$ (7)	$ (503,205)	$ (1,293,812)
Balance (in shares) at Sep. 30, 2021		64,601,353

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Stockholders' Deficit (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Sep. 30, 2020	Jun. 30, 2020
Statement Of Stockholders Equity Parenthetical [Abstract]
Other comprehensive (income) loss, defined benefit plan, after reclassification adjustment, tax	$ 0	$ 0	$ 0	$ 0
Other comprehensive income (loss), tax	$ 0	$ 0	$ 0	$ 0

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Operating Activities
Net loss	$ (39,421)	$ (309,275)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	28,376	50,700
Impairment of long-lived assets		252,382
Amortization of acquired contract liability	(2,707)	(28,150)
Loss on sale of assets and businesses	13,629	747
Curtailments, settlements, and special termination benefits loss, net	20,046
Other amortization included in interest expense	5,602	19,721
Provision for credit losses	320	4,689
Share-based compensation	5,072	5,407
Changes in other assets and liabilities, excluding the effects of acquisitions and divestitures:
Trade and other receivables	8,268	117,434
Contract assets	(9,640)	15,871
Inventories	1,783	(26,945)
Prepaid expenses and other current assets	2,292	2,938
Accounts payable, accrued expenses, and contract liabilities	(190,152)	(319,444)
Accrued pension and other postretirement benefits	(27,852)	(24,920)
Other, net	(1,142)	(878)
Net cash used in operating activities	(185,526)	(239,723)
Investing Activities
Capital expenditures	(7,481)	(12,804)
Proceeds from sale of assets and businesses	185,622	1,521
Investment in joint venture	(2,101)
Purchase of facility related to divested businesses	(21,550)
Net cash provided by (used in) investing activities	154,490	(11,283)
Financing Activities
Net decrease in revolving credit facility		(400,000)
Proceeds from issuance of long-term debt		713,900
Retirement of debt and finance lease obligations	(353,513)	(92,843)
Payment of deferred financing costs		(17,342)
Premium on redemption of first lien notes	(7,489)
Repurchase of shares for share-based compensation minimum tax obligation	(3,118)	(495)
Net cash used in financing activities	(364,120)	203,220
Effect of exchange rate changes on cash	(604)	2,534
Net change in cash and cash equivalents	(395,760)	(45,252)
Cash and cash equivalents at beginning of period	589,882	485,463
Cash and cash equivalents at end of period	$ 194,122	$ 440,211

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
	Sep. 30, 2021
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Background and Basis of Presentation	1. BACKGROUND AND BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of Triumph Group, Inc. ("Triumph") have been prepared in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the interim financial information includes all adjustments of a normal recurring nature necessary for a fair presentation of the results of operations, financial position, and cash flows. The results of operations for the three and six months ended September 30, 2021 and 2020, are not necessarily indicative of results that may be expected for the year ending March 31, 2022. The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the fiscal 2021 audited consolidated financial statements and notes thereto included in the Company's Form 10-K for the fiscal year ended March 31, 2021, filed with the Securities and Exchange Commission (the "SEC") on May 20, 2021. Triumph is a Delaware corporation that, through its operating subsidiaries, designs, engineers, manufactures, and sells products for the global aerospace original equipment manufacturers ("OEMs") of aircraft and aircraft components and repairs and overhauls aircraft components and accessories for commercial airline, air cargo carrier, and military customers on a worldwide basis. Triumph and its subsidiaries (collectively, the "Company") are organized based on the products and services that they provide. The Company has two reportable segments: Systems & Support and Aerospace Structures. Systems & Support consists of the Company’s operations that provide integrated solutions, including design; development; and support of proprietary components, subsystems and systems, as well as production of complex assemblies using external designs. Capabilities include hydraulic, mechanical and electromechanical actuation, power and control; a complete suite of aerospace gearbox solutions, including engine accessory gearboxes and helicopter transmissions; active and passive heat exchange technology; fuel pumps, fuel metering units, and Full Authority Digital Electronic Control fuel systems; and hydromechanical and electromechanical primary and secondary flight controls. Systems & Support also provides full life cycle solutions for commercial, regional, and military aircraft. The Company’s extensive product and service offerings include full post-delivery value chain services that simplify the maintenance, repair, and overhaul (“MRO”) supply chain. Through its ground support equipment maintenance, component MRO, and post-production supply chain activities, Systems & Support is positioned to provide integrated planeside repair solutions globally. Capabilities include repair services for metallic and composite aircraft structures; nacelles; thrust reversers; interiors; auxiliary power units; and a wide variety of pneumatic, hydraulic, fuel, and mechanical accessories. Repair services generally involve the replacement and/or remanufacturing of parts, which is similar to the original manufacture of the part. The processes that the Company performs related to repair and overhaul services are essentially the repair of wear parts or replacement of parts that are beyond economic repair. The repair service generally involves remanufacturing a complete part or a component of a part. Aerospace Structures consists of the Company’s operations that supply commercial, business, and regional manufacturers with large metallic and composite structures and aircraft interior systems, including air ducting and thermal acoustic insulations systems. Products include wings; wing boxes; fuselage panels; horizontal and vertical tails; subassemblies such as floor grids; and aircraft interior systems, including air ducting and thermal acoustic insulation systems. Aerospace Structures also has the capability to engineer detailed structural designs in metal and composites. Capabilities include advanced composite and interior structures, joining processes such as welding, and conventional mechanical fasteners. The accompanying condensed consolidated financial statements include the accounts of Triumph and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated from the accompanying condensed consolidated financial statements.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Revenue Recognition and Contract Balances The Company's revenue is principally from contracts with customers to provide design, development, manufacturing, and support services associated with specific customer programs. The Company regularly enters into long-term master supply agreements that establish general terms and conditions and may define specific program requirements. Many agreements include clauses that provide sole supplier status to the Company for the duration of the program’s life. Purchase orders (or authorizations to proceed) are issued pursuant to the master supply agreements. Additionally, a majority of the Company’s agreements with customers include options for future purchases. Such options primarily reduce the administrative effort of issuing subsequent purchase orders and do not represent material rights granted to customers. The Company generally enters into agreements directly with its customers and is the principal in all current contracts. The identification of a contract with a customer for purposes of accounting and financial reporting requires an evaluation of the terms and conditions of agreements to determine whether presently enforceable rights and obligations exist. Management considers a number of factors when making this evaluation that include, but are not limited to, the nature and substance of the business exchange, the specific contractual terms and conditions, the promised products and services, the termination provisions in the contract, as well as the nature and execution of the customer’s ordering process and how the Company is authorized to perform work. Generally, presently enforceable rights and obligations are not created until a purchase order is issued by a customer for a specified number of units of product or services. Therefore, the issuance of a purchase order is generally the point at which a contract is identified for accounting and financial reporting purposes. Management identifies the promises to the customer. Promises are generally explicitly stated in each contract, but management also evaluates whether any promises are implied based on the terms of the agreement, past business practice, or other facts and circumstances. Each promise is evaluated to determine if it is a performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service. The Company considers a number of factors when determining whether a promise is a distinct performance obligation, including whether the customer can benefit from the good or service on its own or together with other resources that are readily available to the customer, whether the Company provides a significant service of integrating goods or services to deliver a combined output to the customer, or whether the goods or services are highly interdependent. The Company’s performance obligations consist of a wide range of engineering design services and manufactured components, as well as spare parts and repairs for OEMs. The transaction price for a contract reflects the consideration the Company expects to receive for fully satisfying the performance obligations in the contract. Typically, the transaction price consists solely of fixed consideration but may include variable consideration for contractual provisions such as unpriced contract modifications, cost-sharing provisions, and other receipts or payments to customers. The Company identifies and estimates variable consideration, typically at the most likely amount the Company expects to receive from its customers. Variable consideration is only included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized for the contract will not occur, or when the uncertainty associated with the variable consideration is resolved. The Company's contracts with customers generally require payment under normal commercial terms after delivery with payment typically required within 30 to 120 days of delivery. However, a subset of the Company’s current contracts includes significant financing components because the timing of the transfer of the underlying products and services under contract are at the customers’ discretion. For these contracts, the Company adjusts the transaction price to reflect the effects of the time value of money. The Company generally is not subject to collecting sales tax and has made an accounting policy election to exclude from the transaction price any sales and other similar taxes collected from customers. As a result, any such collections are accounted for on a net basis. The total transaction price is allocated to each of the identified performance obligations using the relative stand-alone selling price. The objective of the allocation is to reflect the consideration that the Company expects to receive in exchange for the products or services associated with each performance obligation. Stand-alone selling price is the price at which the Company would sell a promised good or service separately to a customer. Stand-alone selling prices are established at contract inception, and subsequent changes in transaction price are allocated on the same basis as at contract inception. When stand-alone selling prices for the Company’s products and services are not observable, the Company uses either the “Expected Cost Plus a Margin” or "Adjusted Market Assessment" approaches to estimate stand-alone selling price. Expected costs are typically derived from the available periodic forecast information. Revenue is recognized when or as control of promised products or services transfers to a customer and is recognized at the amount allocated to each performance obligation associated with the transferred products or services. Service sales, principally representing repair, maintenance, and engineering activities are recognized over the contractual period or as services are rendered. Sales under long-term contracts with performance obligations satisfied over time are recognized using either an input or output method. The Company recognizes revenue over time as it performs on these contracts because of the continuous transfer of control to the customer as represented by contractual terms that entitle the Company to the reimbursement of costs plus a reasonable profit for work performed to manufacture products for which the Company has no alternate use or for work performed on a customer-owned asset. With control transferring over time, revenue is recognized based on the extent of progress toward completion of the performance obligation. The Company generally uses the cost-to-cost input method of progress for its contracts because it best depicts the transfer of control to the customer that occurs as work progresses. Under the cost-to-cost method, the extent of progress toward completion is measured based on the proportion of costs incurred to date to the total estimated costs at completion of the performance obligation. The Company reviews its cost estimates on contracts on a periodic basis, or when circumstances change and warrant a modification to a previous estimate. Cost estimates are largely based on negotiated or estimated purchase contract terms, historical performance trends, and other economic projections. Significant factors that influence these estimates include inflationary trends, technical and schedule risk, internal and subcontractor performance trends, business volume assumptions, asset utilization, and anticipated labor agreements. Revenue and cost estimates are regularly monitored and revised based on changes in circumstances. Impacts from changes in estimates of net sales and cost of sales are recognized on a cumulative catch-up basis, which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a performance obligation’s percentage of completion. Forward loss reserves for anticipated losses on long-term contracts are recorded in full when such losses become evident, to the extent required, and are included in contract liabilities on the accompanying condensed consolidated balance sheets. The Company believes that the accounting estimates and assumptions made by management are appropriate given the increased uncertainties surrounding the severity and duration of the impacts of the COVID-19 pandemic; however, actual results could differ materially from those estimates. For the three months ended September 30, 2021, cumulative catch-up adjustments resulting from changes in contract values and estimated costs that arose during the fiscal year increased net sales by approximately $ 3,066 and decreased operating loss, net loss, and loss per share by approximately $ 7,455 , $ 7,455 , and $ 0.12 , respectively. For the three months ended September 30, 2020, cumulative catch-up adjustments resulting from changes in estimates increased revenue by approximately $ 1,299 and decreased operating loss, net loss, and loss per share by approximately $ 10,052 , $ 10,052 , and $ 0.19 , respectively. For the six months ended September 30, 2021, cumulative catch-up adjustments resulting from changes in contract values and estimated costs that arose during the fiscal year increased net sales by approximately $ 6,375 , and decreased operating loss, net loss, and loss per share by approximately $ 16,910 , $ 16,910 , and $ 0.26 , respectively. For the six months ended September 30, 2020, cumulative catch-up adjustments resulting from changes in estimates increased revenue by approximately $ 3,253 , and decreased operating loss, net loss, and loss per share by approximately $ 13,647 , $ 13,647 , and $ 0.26 , respectively. Revenues for performance obligations that are not recognized over time are recognized at the point in time when control transfers to the customer. For performance obligations that are satisfied at a point in time, the Company evaluates the point in time when the customer can direct the use of and obtain the benefits from the products and services. Generally, the shipping terms determine the point in time when control transfers to customers. Shipping and handling activities are not considered performance obligations and related costs are included in cost of sales as incurred. Differences in the timing of revenue recognition and contractual billing and payment terms result in the recognition contract assets and liabilities. Refer to Note 4 for further discussion. In connection with several prior acquisitions, the Company assumed existing long-term contracts. Based on review of these contracts at the acquisition date, the Company concluded that the terms of certain contracts were either more or less favorable than could be realized in market transactions as of the date of the acquisition. As a result, the Company recognized acquired contract liabilities, net of acquired contract assets as of the acquisition date of each respective acquisition, based on the present value of the difference between the contractual cash flows of the executory contracts and the estimated cash flows had the contracts been executed at the acquisition date. The liabilities principally relate to long-term contracts that were initially executed several years prior to the respective acquisition. The Company measured these net liabilities in the year they were acquired under the measurement provisions of Accounting Standards Codification (“ASC”) 820, Fair Value Measurement , which is based on the price to transfer the obligation to a market participant at the measurement date, assuming that the net liabilities will remain outstanding in the marketplace. The portion of the Company's revenue resulting from transactions other than contracts with customers pertains to the amortization of these acquired contract liabilities as the related contractual performance obligations are satisfied. Adjustments to these liabilities due to significant changes in the total estimated costs of the contract are accounted for in a manner consistent with other loss contract reserves, with such adjustments recognized in cost of sales. Concentration of Credit Risk The Company’s trade and other accounts receivable are exposed to credit risk. However, the risk is limited due to the diversity of the customer base and the customer base’s wide geographical area. Trade accounts receivable from The Boeing Company ("Boeing") (representing commercial, military and space) represented approximately 15 % and 23 % of total trade accounts receivable as of September 30, 2021 and March 31, 2021, respectively. Trade and other accounts receivable from Qarbon Aerospace Inc. include receivables that largely correspond with payables associated with transition services and represented approximately 12 % and 0 % of total trade accounts receivable as of September 30, 2021 and March 31, 2021, respectively. The Company had no other concentrations of credit risk of more than 10%. Sales to Boeing for the six months ended September 30, 2021, were $ 273,426 , or 36 % of net sales, of which $ 82,988 and $ 190,439 were from Systems & Support and Aerospace Structures, respectively. Sales to Boeing for the six months ended September 30, 2020, were $ 361,770 , or 37 % of net sales, of which $ 104,547 and $ 257,224 were from Systems & Support and Aerospace Structures, respectively. No other single customer accounted for more than 10% of the Company’s net sales. However, the loss of any significant customer, including Boeing, could have a material adverse effect on the Company and its operating subsidiaries. Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. When determining fair value measurements for assets and liabilities required to be recorded or disclosed at fair value, the Company considers the principal or most advantageous market in which it would transact and also considers assumptions that market participants would use when pricing an asset or liability. The fair value hierarchy has three levels of inputs that may be used to measure fair value: Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2—Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability; and Level 3—Unobservable inputs for the asset or liability. The Company has applied fair value measurements when comparing the carrying value of assets held for sale with the related fair value less cost to sell (see Note 3) and to its pension and postretirement plan assets (see Note 9). Supplemental Cash Flow Information For the six months ended September 30, 2021, the Company paid $ 1,760 for income taxes, net of income tax refunds received. For the six months ended September 30, 2020, the Company paid $ 1,281 for income taxes, net of income tax refunds received.

Divested Operations and Assets

Divested Operations and Assets Held For Sale	6 Months Ended
	Sep. 30, 2021
Discontinued Operations And Disposal Groups [Abstract]
Divested Operations and Assets Held For Sale	3. DIVESTED OPERATIONS AND ASSETS HELD FOR SALE Fiscal 2022 Divestitures and Assets Held for Sale In May 2020, the Company’s Board of Directors committed to a plan to sell its composites manufacturing operations located in Milledgeville, Georgia and Rayong, Thailand. In August 2020, the Company entered into a definitive agreement with the buyer of the composites manufacturing operations in Georgia and Thailand. In February 2021, the Company entered into a definitive agreement to sell its large structure manufacturing operations in Red Oak, Texas, to the same buyer of the Milledgeville and Rayong composites manufacturing operations. These transactions closed in May 2021. In the year ended March 31, 2021, the Company adjusted the carrying amount of these assets held for sale to its estimated fair value less cost to sell and recognized a loss of approximately $ 102,500 . The estimate of fair value is categorized as Level 2 within the fair value hierarchy. The key assumptions used in the estimate of fair value were the negotiated sales price of the assets and the assumption of the disposal group’s liabilities. In May 2021, upon the completion of the sale of composites and large structure manufacturing operations, the Company received proceeds of approximately $ 155,000 net of the purchase of a facility related to the divestiture and other transaction costs and recognized an additional loss of approximat ely $ 6,000 , which is presented on the accompanying condensed consolidated statements of operations within loss on sale of assets and businesses. The additional loss was primarily the result of changes in the working capital balances of the disposal group from March 31, 2021, to the date of divestiture, the final amount of which will be subject to any adjustments in the purchase price as a result of routine closing working capital adjustments and may be further adjusted as a result of closing working capital settlement. The operating results of these related operations are included within the Aerospace Structures reportable segment through the date of divestiture. As disclosed in Note 9, as a result of the completed sale of these manufacturing operations, the Company recognized a curtailment loss of approximately $ 16,000 . In January 2021, the Company announced the shutdown of its composites manufacturing operations located in Spokane, Washington, and began to execute the strategic exit of these facilities. The Company has entered into agreements to sell certain asset groups within the related manufacturing operations. These transactions have not been completed and the related asset groups have not yet met the relevant criteria for derecognition and therefore have been classified as held for sale as of the balance sheet date. Losses for some asset groups arising from adjustments to the carrying amounts to their estimated fair value less cost to sell were insignificant, and other asset groups are expected to result in insignificant gains upon derecognition. The total purchase price associated with these transactions is approximately $ 11,000 , of which approximately $ 6,000 has been received as of September 30, 2021. In August 2021, the Company's Board of Directors committed to a plan to sell and license certain legacy product lines of our Staverton, United Kingdom operations. The transaction includes the existing facility and select product lines associated with the site. The transaction closed in October 2021 for net proceeds of approximately $ 34,000 and is expected to result in an insignificant gain. The operating results of the Staverton, United Kingdom manufacturing operations are included within the Systems & Support reportable segment, and the related assets group is classified as held for sale on the accompanying condensed consolidated balance sheet. As a result of the transactions described above, including routine closing working capital adjustments, the Company recognized approximately $ 8,000 in additional losses in the three months ended September 30, 2021. Fiscal 2021 Divestitures In August 2020, the Company completed the transfer of the assets and certain liabilities associated with its Gulfstream G650 wing supply chain activities for cash proceeds net of transaction costs of approximately $ 51,000 . The Company recognized a loss of approximately $ 819 . The operating results associated with the G650 wing supply chain activities were included within Aerospace Structures through the date of transfer.

Revenue Recognition and Contrac

Revenue Recognition and Contracts with Customers	6 Months Ended
	Sep. 30, 2021
Change In Contract With Customer Asset And Liability [Abstract]
Revenue Recognition and Contracts with Customers	4. REVENUE RECOGNITION AND CONTRACTS WITH CUSTOMERS Disaggregation of Revenue The Company disaggregates revenue based on the method of measuring satisfaction of the performance obligation either over time or at a point in time. Additionally, the Company disaggregates revenue based upon the end market where products and services are transferred to the customer. The Company’s principal operating segments and related revenue are discussed in Note 11, Segments. The following table shows disaggregated net sales satisfied overtime and at a point in time (excluding intercompany sales) for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 Systems & Support Satisfied over time $ 114,683 $ 102,807 $ 233,664 $ 206,155 Satisfied at a point in time 132,582 147,286 270,804 278,234 Revenue from contracts with customers 247,265 250,093 504,468 484,389 Amortization of acquired contract liabilities 1,493 3,544 2,695 7,263 Total revenue 248,758 253,637 507,163 491,652 Aerospace Structures Satisfied over time $ 97,633 $ 204,180 $ 227,156 $ 447,819 Satisfied at a point in time 11,005 10,379 19,711 16,534 Revenue from contracts with customers 108,638 214,559 246,867 464,353 Amortization of acquired contract liabilities — 13,619 12 20,887 Total revenue 108,638 228,178 246,879 485,240 $ 357,396 $ 481,815 $ 754,042 $ 976,892 The following table shows disaggregated net sales by end market (excluding intercompany sales) for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 Systems & Support Commercial aerospace $ 93,129 $ 95,393 $ 190,585 $ 187,573 Military 126,521 131,120 262,328 251,504 Business jets 10,521 8,708 22,878 19,082 Regional 5,315 7,112 10,588 12,987 Non-aviation 11,779 7,760 18,089 13,243 Revenue from contracts with customers 247,265 250,093 504,468 484,389 Amortization of acquired contract liabilities 1,493 3,544 2,695 7,263 Total revenue $ 248,758 $ 253,637 $ 507,163 $ 491,652 Aerospace Structures Commercial aerospace $ 99,868 $ 121,550 $ 212,529 $ 262,521 Military 1,210 35,438 14,913 73,694 Business jets 6,297 54,150 16,510 120,102 Regional 1,263 3,414 2,897 8,025 Non-aviation — 7 18 11 Revenue from contracts with customers 108,638 214,559 246,867 464,353 Amortization of acquired contract liabilities — 13,619 12 20,887 Total revenue 108,638 228,178 246,879 485,240 $ 357,396 $ 481,815 $ 754,042 $ 976,892 Contract Assets and Liabilities Contract assets primarily represent revenues recognized for performance obligations that have been satisfied or partially satisfied but for which amounts have not been billed. This typically occurs when revenue is recognized over time but the Company's contractual right to bill the customer and receive payment is conditional upon the satisfaction of additional performance obligations in the contract, such as final delivery of the product. Contract assets are typically derecognized when billed in accordance with the terms of the contract. The Company pools contract assets that share underlying risk characteristics and records an allowance for expected credit losses based on a combination of prior experience, current economic conditions and management’s expectations of future economic conditions, and specific collectibility matters when they arise. Contract assets are presented net of this reserve on the condensed consolidated balance sheets. For the three and six months ended September 30, 2021 and 2020, credit loss expense and write-offs related to contract assets were immaterial. Contract liabilities are recorded when customers remit contractual cash payments in advance of the Company satisfying performance obligations under contractual arrangements, including those with performance obligations to be satisfied over a period of time. Contract liabilities other than those pertaining to forward loss reserves are derecognized when or as revenue is recognized. Contract modifications can also impact contract asset and liability balances. When contracts are modified to account for changes in contract specifications and requirements, the Company considers whether the modification either creates new or changes the existing enforceable rights and obligations. Contract modifications that are for goods or services that are not distinct from the existing contract, due to the significant integration with the original good or service provided, are accounted for as if they were part of that existing contract. The effect of a contract modification to an existing contract on the transaction price and our measure of progress for the performance obligation to which it relates, is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. When the modifications include additional performance obligations that are distinct and at relative stand-alone selling price, they are accounted for as a new contract and performance obligation and are recognized prospectively. Contract balances are classified as assets or liabilities on a contract-by-contract basis at the end of each reporting period. The following table summarizes our contract assets and liabilities balances: September 30, 2021 March 31, Change Contract assets $ 158,425 $ 139,937 $ 18,488 Contract liabilities ( 214,729 ) ( 305,116 ) 90,387 Net contract liability $ ( 56,304 ) $ ( 165,179 ) $ 108,875 During the six months ended September 30, 2021, the Company recognized revenue due to changes in estimates associated with performance obligations satisfied or partially satisfied in previous periods of $ 6,375 . The change in contract assets is the result of revenue recognized in excess of amounts billed during the six months ended September 30, 2021. The change in contract liabilities is the result of revenue recognized in excess of the receipt of additional customer advances during the six months ended September 30, 2021. For the six months ended September 30, 2021, the Company recognized $ 68,095 of revenue that was included in the contract liability balance at the beginning of the period. Noncurrent contract assets presented in other, net on the accompanying condensed consolidated balance sheets as of September 30, 2021 and March 31, 2021, were $ 8,017 and $ 5,299 , respectively. Noncurrent contract liabilities presented in other noncurrent liabilities on the accompanying condensed consolidated balance sheets as of September 30, 2021 and March 31, 2021, were $ 55,038 and $ 100,737 , respectively. Performance Obligations Customers generally contract with the Company for requirements in a segment relating to a specific program, and the Company’s performance obligations consist of a wide range of engineering design services and manufactured components, as well as spare parts and repairs for OEMs. A single contract may contain multiple performance obligations consisting of both recurring and nonrecurring elements. As of September 30, 2021, the Company has the following unsatisfied, or partially unsatisfied, performance obligations that are expected to be recognized in the future as noted in the table below. The Company expects options to be exercised in addition to the amounts presented below. Total Less than 1 year 1 - 3 years 4 - 5 years More than 5 Unsatisfied performance obligations $ 1,912,724 $ 1,059,987 $ 820,588 $ 31,965 $ 184

Inventories

Inventories	6 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories	5. INVENTORIES Inventories are stated at the lower of cost (average-cost or specific-identification methods) or market. The components of inventories are as follows: September 30, March 31, Raw materials $ 49,802 $ 45,211 Work-in-process, including manufactured and purchased components 298,251 277,729 Finished goods 10,822 51,221 Rotable assets 29,031 26,205 Total inventories $ 387,906 $ 400,366

Long-term Debt

Long-term Debt	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Long-Term Debt	6. LONG-TERM DEBT Long-term debt consists of the following: September 30, March 31, Finance leases 15,728 20,125 Senior secured first lien notes due 2024 587,489 700,000 Senior secured notes due 2024 525,000 525,000 Senior notes due 2022 — 236,471 Senior notes due 2025 500,000 500,000 Less: debt issuance costs ( 18,528 ) ( 24,053 ) 1,609,689 1,957,543 Less: current portion 3,637 5,247 $ 1,606,052 $ 1,952,296 Receivables Securitization Program In connection with the Company's receivables securitization facility (the "Securitization Facility"), the Company sells on a revolving basis certain eligible accounts receivable to Triumph Receivables, LLC, a wholly-owned special-purpose entity, which in turn sells a percentage ownership interest in the receivables to commercial paper conduits sponsored by financial institutions. The Company is the servicer of the trade accounts receivable under the Securitization Facility. Interest rates are based on the lesser of 0.75 % or the London Interbank Offered Rate (“LIBOR”), plus a 2.50 % fee on the drawn portion and 0.60 % fee on the undrawn portion of the Securitization Facility. The Company secures its trade accounts receivable, which are generally non-interest-bearing, in transactions that are accounted for as borrowings pursuant to ASC 860, Transfers and Servicing . The Company has established a letter of credit facility under the Securitization Facility. Under the provisions of the letter of credit facility, the Company may request the Securitization Facility’s administrator to issue one or more letters of credit that will expire no later than 12 months after the date of issuance, extension or renewal, as applicable. As of September 30, 2021 , the maximum amount available under the Securitization Facility was $ 75,000 , and the Company has the ability to reduce the facility amount to not less than $ 50,000 . The actual amount available under the Securitization Facility at any point in time is dependent upon the balance of eligible accounts receivable as well as the amount of letters of credit outstanding. At September 30, 2021, there were $ 0 in borrowings and $ 24,772 in letters of credit outstanding under the Securitization Agreement, primarily to support insurance policies. As of September 30, 2021, the Securitization Facility expires in December 2022 . The agreements governing the Securitization Facility contain restrictions and covenants, including limitations on the making of certain restricted payments; creation of certain liens; and certain corporate acts such as mergers, consolidations and the sale of all or substantially all the Company's assets. Senior Secured First Lien Notes due 2024 On August 17, 2020, the Company issued $ 700,000 principal amount of 8.875 % Senior Secured First Lien Notes due June 1, 2024 (the “First Lien Notes”). The First Lien Notes were sold at 100 % of the principal amount and have an effective interest yield of 8.875 %. Interest is payable semiannually in cash in arrears on June 1 and December 1 of each year. The First Lien Notes are first lien secured obligations of the Company. The First Lien Notes are guaranteed on a full, senior secured, joint and several basis by each of the Company’s domestic restricted subsidiaries that guarantees either of the Company’s 2024 Notes and 2025 Notes, as defined below (the “Guarantor Subsidiaries”). In the future, each of the Company’s domestic restricted subsidiaries (other than any domestic restricted subsidiary that is a receivable subsidiary) that (1) is not an immaterial subsidiary, (2) becomes a borrower under any of its material debt facilities or (3) guarantees (a) any of the Company’s indebtedness or (b) any indebtedness of the Company’s domestic restricted subsidiaries, in the case of either (a) or (b), incurred under any of the Company’s material debt facilities, will guarantee the First Lien Notes. Under certain circumstances, the guarantees may be released without action by, or consent of, any holder of the First Lien Notes. The Company may redeem the First Lien Notes, in whole or in part, at any time or from time to time on or after February 1, 2023, at specified redemption prices, plus accrued and unpaid interest, if any, to the redemption date. At any time or from time to time prior to February 1, 2023, the Company may redeem the First Lien Notes, in whole or in part, at a redemption price equal to 100 % of their principal amount plus a make whole premium, together with accrued and unpaid interest, if any, to the redemption date. In addition, the Company may redeem up to 40 % of the aggregate principal amount of the outstanding First Lien Notes prior to June 1, 2023, with the net cash proceeds from certain equity offerings at a redemption price equal to 108.875 % of their principal amount, together with accrued and unpaid interest, if any, to the redemption date. If the Company experiences specific kinds of changes of control, the Company is required to offer to purchase all of the First Lien Notes at a purchase price of 101 % of their principal amount, plus accrued and unpaid interest, if any, to the date of purchase. The First Lien Notes Indenture contains covenants that, among other things, limit the ability of the Company and its restricted subsidiaries to: (i) incur additional indebtedness; (ii) pay dividends or make other distributions; (iii) make other restricted payments and investments; (iv) create liens; (v) incur restrictions on the ability of restricted subsidiaries to pay dividends or make certain other payments; (vi) sell assets, including capital stock of restricted subsidiaries; (vii) enter into sale and leaseback transactions; (viii) merge or consolidate with other entities; and (ix) enter into transactions with affiliates. In addition, the First Lien Notes Indenture requires, among other things, the Company to provide financial and current reports to holders of the First Lien Notes or file such reports electronically with the SEC. Furthermore, the First Lien Notes Indenture requires that the future net proceeds from certain asset sales will be required to repay the First Lien Notes at a premium of 106.656 %, until the aggregate principal amount of Notes outstanding is $ 350,000 or less, provided that the Company may retain the first $ 100,000 of such net proceeds (subject to compliance with the asset sale covenants in the Company’s other outstanding indentures) or use it for certain other permitted purposes. These covenants are subject to a number of exceptions, limitations and qualifications set forth in the Indenture, as well as suspension periods in certain circumstances. Upon the completion of the sale of the composites and large structure manufacturing operations as disclosed in Note 3, the Company surpassed the $ 100,000 threshold of net proceeds from certain asset sales resulting in a required redemption of $ 112,511 of the outstanding principle balance and a premium of approximately $ 7,489 . Senior Secured Notes Due 2024 On September 23, 2019, the Company issued $ 525,000 principal amount of 6.250 % Senior Secured Notes due September 15, 2024 (the "2024 Notes"). The 2024 Notes were sold at 100 % of principal amount and have an effective interest yield of 6.250 %. Interest on the 2024 Notes is payable semiannually in cash in arrears on March 15 and September 15 of each year. The 2024 Notes are secured by second-priority liens on all of the Company's and the Guarantor Subsidiaries' assets that secure all of the indebtedness under the First Lien Notes and certain hedging and cash management obligations. The Company has the ability to incur additional first and/or second lien debt under certain circumstances. Senior Notes due 2022 On May 19, 2021, the Company called all outstanding 5.250 % Senior Notes due June 1, 2022 (the "2022 Notes"). On June 18, 2021, the Company redeemed $ 236,471 principal amount of the 2022 Notes. Senior Notes Due 2025 On August 17, 2017, the Company issued $ 500,000 principal amount of 7.750 % Senior Notes due August 15, 2025 (the "2025 Notes"). The 2025 Notes were sold at 100 % of principal amount and have an effective interest yield of 7.750 %. Interest on the 2025 Notes accrues at the rate of 7.750 % per annum and is payable semiannually in cash in arrears on February 15 and August 15 of each year. Financial Instruments Not Recorded at Fair Value Carrying amounts and the related estimated fair values of the Company's long-term debt not recorded at fair value in the consolidated financial statements are as follows: September 30, 2021 March 31, 2021 Carrying Fair Carrying Fair $ 1,609,689 $ 1,682,692 $ 1,957,543 $ 2,085,204 The fair value of the long-term debt was calculated based on either interest rates available for debt with terms and maturities similar to the Company's existing debt arrangements or broker quotes on our existing debt (Level 2 inputs). Interest paid on indebtedness during the six months ended September 30, 2021 and 2020, amounted to $ 82,570 and $ 52,806 , respectively. The interest paid during the six months ended September 30, 2021 , includes the redemption premium on the First Lien Notes of $ 7,489 .

Earnings per Share

Earnings per Share	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings per Share	7. EARNINGS PER SHARE The following is a reconciliation between the weighted average outstanding shares used in the calculation of basic and diluted earnings per share: Three Months Ended September 30, Six Months Ended September 30, (in thousands) (in thousands) 2021 2020 2021 2020 Weighted average common shares outstanding – basic 64,545 52,011 64,427 51,941 Net effect of dilutive stock options and non-vested stock (1) — — — — Weighted average common shares outstanding – diluted 64,545 52,011 64,427 51,941 (1) For the three and six months ended September 30, 2021 and 2020 , the shares that could potentially dilute earnings per share in the future but were not included in diluted weighted average common shares outstanding because to do so would have been anti-dilutive were immaterial.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	8. INCOME TAXES The Company follows the Income Taxe s topic of ASC 740, which prescribes a recognition threshold and measurement attribute criteria for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, as well as guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. The Company's policy is to release the tax effects from accumulated other comprehensive income when all of the related assets or liabilities that gave rise to the accumulated other comprehensive income have been derecognized. The Company has classified uncertain tax positions as noncurrent income tax liabilities unless expected to be paid in one year. Penalties and tax-related interest expense are reported as a component of income tax expense and are not significant. As of September 30, 2021 and March 31, 2021 , the total amount of unrecognized tax benefits was $ 11,678 and $ 11,536 , respectively, most of which would impact the effective rate, if recognized. The Company does not anticipate that total unrecognized tax benefits will be reduced in the next 12 months. As of September 30, 2021, the Company has a valuation allowance against principally all of its net deferred tax assets given insufficient positive evidence to support the realization of the Company’s deferred tax assets. The Company intends to continue maintaining a valuation allowance on its deferred tax assets until there is sufficient positive evidence to support the reversal of all or some portion of these allowances. A reduction in the valuation allowance could result in a significant decrease in income tax expense in the period that the release is recorded. However, the exact timing and amount of the reduction in its valuation allowance is unknown at this time and will be subject to the earnings level the Company achieves during fiscal 2022 and future periods. The effective income tax rate for the three months ended September 30, 2021, was ( 24.5 )% as compared with ( 2.5 )% for the three months ended September 30, 2020. The effective income tax rate for the six months ended September 30, 2021, was ( 8.2 )% as compared with ( 0.5 )% for the six months ended September 30, 2020. For the three and six months ended September 30, 2021, the effective income tax rate reflected a limitation on the recognition of tax benefits due to the full valuation allowance. With few exceptions, the Company is no longer subject to U.S. federal, state, or local income tax examinations for fiscal years ended before March 31, 2014, or foreign income tax examinations by tax authorities for fiscal years ended before March 31, 2013. As of September 30, 2021 , the Company settled its only foreign income tax examination. The Company believes appropriate provisions for all outstanding issues have been made for all jurisdictions and all open years.

Pension and Other Postretiremen

Pension and Other Postretirement Benefit Plans	6 Months Ended
	Sep. 30, 2021
Compensation And Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefit Plans	9. PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The Company sponsors several defined benefit pension plans covering some of its employees. Most employees are ineligible to participate in the plans or have ceased to accrue additional benefits under the plans based upon their service to the Company or years of service accrued under the defined benefit pension plans. Benefits under the defined benefit plans are based on years of service and, for most non-represented employees, on average compensation for certain years. It is the Company’s policy to fund at least the minimum amount required for all qualified plans, using actuarial cost methods and assumptions acceptable under U.S. Government regulations (and for non-U.S. plans, acceptable under local regulations), by making payments into a separate trust. In addition to the defined benefit pension plans, the Company provides certain healthcare benefits for eligible retired employees. Such benefits are unfunded. No active employees are eligible for these benefits. The vast majority of eligible retirees receive a fixed-dollar benefit they can use to purchase healthcare services. A small number of eligible retirees receive traditional retiree medical benefits for which the company pays all premiums. All retirees who are eligible for these traditional benefits are Medicare-eligible. Current plan documents reserve the right to amend or terminate the plans at any time, subject to applicable collective bargaining requirements for represented employees. In accordance with the Compensation – Retirement Benefits topic of ASC 715, the Company has recognized the funded status of the benefit obligation as of the date of the last re-measurement, on the accompanying condensed consolidated balance sheets. The funded status is measured as the difference between the fair value of the plan’s assets and the pension benefit obligation or accumulated postretirement benefit obligation, of the plan. In order to recognize the funded status, the Company determined the fair value of the plan assets. The majority of the plan assets are publicly traded investments, which were valued based on the market price as of the date of re-measurement. Investments that are not publicly traded were valued based on the estimated fair value of those investments based on our evaluation of data from fund managers and comparable market data. Net Periodic Benefit Plan Costs The components of net periodic benefit income for our postretirement benefit plans are shown in the following table: Pension Benefits Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Components of net periodic benefit income: Service cost $ 186 $ 383 $ 378 $ 760 Interest cost 11,698 16,100 23,521 32,186 Expected return on plan assets ( 33,377 ) ( 34,136 ) ( 66,832 ) ( 68,241 ) Amortization of prior service credits 26 243 68 485 Amortization of net loss 9,614 7,807 19,198 15,605 Curtailment loss — — 16,024 — Settlement loss 3,826 — 3,826 — Special termination benefits 142 — 196 — Net periodic benefit income $ ( 7,885 ) $ ( 9,603 ) $ ( 3,621 ) $ ( 19,205 ) The Company recognized net periodic benefit income from its other postretirement benefits plan of approximately $ 2,349 and $ 4,698 for the three and six months ended September 30, 2021, respectively. Upon the completion of the sale of the composites and large structure manufacturing operations as disclosed in Note 3, the expected future service of certain defined benefit pension plan participants was curtailed and certain participants became eligible for subsidized early retirement benefits under the terms of the relevant plan. As a result, the Company performed an interim remeasurement and recognized a onetime pension curtailment charge of approximately $ 16,024 which is presented in non-service defined benefit income on the accompanying condensed consolidated statement of operations for six months ended September 30, 2021 Effective August 31, 2021, the Company settled the fully-funded pension obligation it had retained subsequent to its fiscal year 2019 divestiture of Triumph Geared Solutions - Toronto. The settlement resulted in the recognition of prior noncash actuarial losses of approximately $ 3,826 in the three months ended September 30, 2021. The settlement's impact on the accompanying condensed consolidated balance sheets was insignificant as the plan's assets were materially consistent with the pension obligation.

Stockholders' Deficit

Stockholders' Deficit	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Stockholders' Deficit	10. STOCKHOLDERS' DEFICIT Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive loss ("AOCI") by component for the three and six months ended September 30, 2021 and 2020, were as follows: Currency Unrealized Gains Defined Benefit Total (1) June 30, 2021 $ ( 39,412 ) $ 309 $ ( 468,417 ) $ ( 507,520 ) Other comprehensive income before reclassifications ( 5,692 ) ( 1,613 ) 97 ( 7,208 ) Amounts reclassified from AOCI — 414 11,109 (2) 11,523 Net current period OCI ( 5,692 ) ( 1,199 ) 11,206 4,315 September 30, 2021 $ ( 45,104 ) $ ( 890 ) $ ( 457,211 ) $ ( 503,205 ) June 30, 2020 $ ( 61,126 ) $ ( 2,203 ) $ ( 675,835 ) $ ( 739,164 ) Other comprehensive income before reclassifications 7,282 2,772 — 10,054 Amounts reclassified from AOCI — ( 541 ) 4,265 (2) 3,724 Net current period OCI 7,282 2,231 4,265 13,778 September 30, 2020 $ ( 53,844 ) $ 28 $ ( 671,570 ) $ ( 725,386 ) March 31, 2021 $ ( 42,161 ) $ 1,015 $ ( 489,046 ) $ ( 530,192 ) Other comprehensive income before reclassifications ( 2,943 ) ( 3,333 ) 10,440 4,164 Amounts reclassified from AOCI — 1,428 21,395 (2) 22,823 Net current period OCI ( 2,943 ) ( 1,905 ) 31,835 26,987 September 30, 2021 $ ( 45,104 ) $ ( 890 ) $ ( 457,211 ) $ ( 503,205 ) March 31, 2020 $ ( 62,045 ) $ ( 4,303 ) $ ( 680,100 ) $ ( 746,448 ) Other comprehensive income before reclassifications 8,201 6,430 — 14,631 Amounts reclassified from AOCI — ( 2,099 ) 8,530 (2) 6,431 Net current period OCI 8,201 4,331 8,530 21,062 September 30, 2020 $ ( 53,844 ) $ 28 $ ( 671,570 ) $ ( 725,386 ) (1) Net of tax. (2) Includes amortization of actuarial losses and recognized prior service costs, which are included in net periodic pension income. Refer to Note 9 for additional disclosure regarding our postretirement benefit plans.

Segments

Segments	6 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Segments	11. SEGMENTS The Company reports financial performance based on the following two reportable segments: Systems & Support and Aerospace Structures. The Company’s reportable segments are aligned with how the business is managed, and the Company's views of the markets it serves. The Chief Operating Decision Maker (the "CODM") evaluates performance and allocates resources based upon review of segment information. The CODM utilizes earnings before interest, income taxes, depreciation and amortization, and pension (“Adjusted EBITDAP”) as a primary measure of segment profitability to evaluate performance of its segments and allocate resources. Segment Adjusted EBITDAP is total segment revenue reduced by operating expenses (less depreciation and amortization) identifiable with that segment. Corporate includes general corporate administrative costs and any other costs not identifiable with one of the Company’s segments. The Company does not accumulate net sales information by product or service or groups of similar products and services, and therefore the Company does not disclose net sales by product or service because to do so would be impracticable. Selected financial information for each reportable segment is as follows: Three Months Ended September 30, 2021 Total Corporate & Systems & Aerospace Net sales to external customers $ 357,396 $ — $ 248,758 $ 108,638 Intersegment sales (eliminated in consolidation) — ( 28 ) 23 5 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 52,066 — 45,047 7,019 Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 12,945 ) ( 1,091 ) ( 8,440 ) ( 3,414 ) Interest expense and other, net ( 34,183 ) Corporate expenses ( 13,678 ) Share-based compensation expense ( 2,825 ) Loss on sale of assets and businesses ( 7,660 ) Amortization of acquired contract liabilities 1,493 Non-service defined benefit income 10,449 Loss before income taxes ( 7,283 ) Total capital expenditures $ 5,369 $ 156 $ 2,655 $ 2,558 Total assets $ 1,800,717 $ 164,039 $ 1,431,193 $ 205,485 Three Months Ended September 30, 2020 Total Corporate & Systems & Aerospace Net sales to external customers $ 481,815 $ — $ 253,637 $ 228,178 Intersegment sales (eliminated in consolidation) — ( 1,134 ) 534 600 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 31,208 — 34,169 ( 2,961 ) Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 22,098 ) ( 807 ) ( 8,121 ) ( 13,170 ) Interest expense and other, net ( 52,506 ) Corporate expenses ( 15,483 ) Share-based compensation expense ( 2,621 ) Loss on sale of assets and businesses ( 747 ) Amortization of acquired contract liabilities 17,163 Non-service defined benefit income 12,427 Loss before income taxes ( 32,657 ) Total capital expenditures $ 5,081 $ 232 $ 3,228 $ 1,621 Six Months Ended September 30, 2021 Total Corporate & Systems & Aerospace Net sales to external customers $ 754,042 $ — $ 507,163 $ 246,879 Intersegment sales (eliminated in consolidation) — ( 47 ) 31 16 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 112,284 — 87,895 24,389 Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 28,376 ) ( 1,859 ) ( 16,944 ) ( 9,573 ) Interest expense and other, net ( 72,741 ) Corporate expenses ( 30,631 ) Share-based compensation expense ( 5,072 ) Loss on sale of assets and businesses ( 13,629 ) Amortization of acquired contract liabilities 2,707 Non-service defined benefit income 8,727 Debt extinguishment loss ( 9,689 ) Loss before income taxes ( 36,420 ) Total capital expenditures $ 7,481 $ 514 $ 3,757 $ 3,210 Six Months Ended September 30, 2020 Total Corporate & Systems & Aerospace Net sales to external customers $ 976,892 $ — $ 491,652 $ 485,240 Intersegment sales (eliminated in consolidation) — ( 3,821 ) 2,406 1,415 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 69,660 — 64,237 5,423 Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 50,700 ) ( 1,663 ) ( 16,477 ) ( 32,560 ) Interest expense and other, net ( 87,463 ) Corporate expenses ( 33,544 ) Share-based compensation expense ( 5,407 ) Loss on sale of assets and businesses ( 747 ) Amortization of acquired contract liabilities 28,150 Non-service defined benefit income 24,843 Impairment of long-lived assets ( 252,382 ) Loss before income taxes ( 307,590 ) Total capital expenditures $ 12,804 $ 643 $ 9,511 $ 2,650 During the three months ended September 30, 2021 and 2020, the Company had foreign sales of $ 81,119 and $ 96,734 , respectively. During the six months ended September 30, 2021 and 2020, the Company had foreign sales of $ 158,043 and $ 188,931 , respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2021
Commitments And Contingencies [Abstract]
Commitments and Contingencies	12. COMMITMENTS AND CONTINGENCIES In the ordinary course of business, the Company is involved in disputes; claims; and lawsuits with employees, suppliers, and customers; as well as governmental and regulatory inquiries, that it deems to be immaterial. Some may involve claims or potential claims of substantial damages, fines, penalties, or injunctive relief. While the Company cannot predict the outcome of any pending or future litigation or proceeding and no assurances can be given, the Company does not believe that any pending matter will have a material effect, individually or in the aggregate, on its financial position or results of operations. As the Company completes its restructuring plans as disclosed in Note 13, including the disposal of certain facilities, the Company may be exposed to additional costs such as environmental remediation obligations, lease termination costs, or supplier claims which may have a material effect on its financial position or results of operations when such matters arise and a reasonable estimate of the costs can be made. For example, the Company participates in a multiemployer pension plan for the benefit of certain represented employees at its Spokane, Washington, composites manufacturing operations. Under the terms of the multiemployer pension plan, it is reasonably possible that the Company will trigger a withdrawal liability related to the exit of the related facilities and termination of the affected employees. The amount of this potential liability is determined based on the funded status of the plan at the time of withdrawal from the plan. The funded status of the plan is measured by estimating the value of the plan's assets and liabilities, and these values can change significantly based on market conditions and changes in actuarial assumptions made by the plan sponsor. If a withdrawal liability is triggered, the obligation would likely be satisfied through annual payments over a period of at least ten years .

Restructuring

Restructuring	6 Months Ended
	Sep. 30, 2021
Restructuring And Related Activities [Abstract]
Restructuring	13. RESTRUCTURING As disclosed in the Company's Form 10-K for the fiscal year ended March 31, 2020, during the fiscal years ended March 31, 2017 and 2016, the Company committed to restructuring plans involving certain of its businesses, as well as the consolidation of certain of its facilities. With the exception of certain consolidations to be completed in future years, these plans were substantially complete as of March 31, 2020. During the six months ended September 30, 2021, the Company incurred costs of $ 1,048 , $ 6,902 , and $ 432 , within Systems & Support, Aerospace Structures, and its corporate headquarters, respectively, for total restructuring costs of $ 8,382 . The restructuring costs represent third-party facility closures, third-party consulting costs, and severance. The Company estimates that it will incur consolidated restructuring costs of approximately $ 15,000 for the fiscal year ended March 31, 2022, with the majority of the remaining costs associated with Aerospace Structures facility closures.

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Events	14. SUBSEQUENT EVENTS As disclosed in Note 3, subsequent to September 30, 2021, the Company completed the sale and licensing of certain legacy product lines of our Staverton, United Kingdom operations. The transaction includes the existing facility and select product lines associated with the site. Net proceeds on the transactions are approximately $ 34,000 . In October 2021, the Company used approximately $ 26,000 of the net proceeds to redeem approximately $ 24,300 aggregate principal amount of the First Lien Notes at a redemption price of 106.656 %, plus accrued and unpaid interest. The redemption was required by the terms of the First Lien Notes, and following the redemption, approximately $ 563,200 aggregate principal amount of First Lien Notes remain outstanding. In November 2021, the Company amended the Securitization Facility, increasing the purchase limit from $ 75,000 to $ 100,000 , modifying certain other terms to increase eligible receivables and availability, and extending the term through November 2024 .

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Revenue Recognition and Contract Balances	Revenue Recognition and Contract Balances The Company's revenue is principally from contracts with customers to provide design, development, manufacturing, and support services associated with specific customer programs. The Company regularly enters into long-term master supply agreements that establish general terms and conditions and may define specific program requirements. Many agreements include clauses that provide sole supplier status to the Company for the duration of the program’s life. Purchase orders (or authorizations to proceed) are issued pursuant to the master supply agreements. Additionally, a majority of the Company’s agreements with customers include options for future purchases. Such options primarily reduce the administrative effort of issuing subsequent purchase orders and do not represent material rights granted to customers. The Company generally enters into agreements directly with its customers and is the principal in all current contracts. The identification of a contract with a customer for purposes of accounting and financial reporting requires an evaluation of the terms and conditions of agreements to determine whether presently enforceable rights and obligations exist. Management considers a number of factors when making this evaluation that include, but are not limited to, the nature and substance of the business exchange, the specific contractual terms and conditions, the promised products and services, the termination provisions in the contract, as well as the nature and execution of the customer’s ordering process and how the Company is authorized to perform work. Generally, presently enforceable rights and obligations are not created until a purchase order is issued by a customer for a specified number of units of product or services. Therefore, the issuance of a purchase order is generally the point at which a contract is identified for accounting and financial reporting purposes. Management identifies the promises to the customer. Promises are generally explicitly stated in each contract, but management also evaluates whether any promises are implied based on the terms of the agreement, past business practice, or other facts and circumstances. Each promise is evaluated to determine if it is a performance obligation. A performance obligation is a promise in a contract to transfer a distinct good or service. The Company considers a number of factors when determining whether a promise is a distinct performance obligation, including whether the customer can benefit from the good or service on its own or together with other resources that are readily available to the customer, whether the Company provides a significant service of integrating goods or services to deliver a combined output to the customer, or whether the goods or services are highly interdependent. The Company’s performance obligations consist of a wide range of engineering design services and manufactured components, as well as spare parts and repairs for OEMs. The transaction price for a contract reflects the consideration the Company expects to receive for fully satisfying the performance obligations in the contract. Typically, the transaction price consists solely of fixed consideration but may include variable consideration for contractual provisions such as unpriced contract modifications, cost-sharing provisions, and other receipts or payments to customers. The Company identifies and estimates variable consideration, typically at the most likely amount the Company expects to receive from its customers. Variable consideration is only included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized for the contract will not occur, or when the uncertainty associated with the variable consideration is resolved. The Company's contracts with customers generally require payment under normal commercial terms after delivery with payment typically required within 30 to 120 days of delivery. However, a subset of the Company’s current contracts includes significant financing components because the timing of the transfer of the underlying products and services under contract are at the customers’ discretion. For these contracts, the Company adjusts the transaction price to reflect the effects of the time value of money. The Company generally is not subject to collecting sales tax and has made an accounting policy election to exclude from the transaction price any sales and other similar taxes collected from customers. As a result, any such collections are accounted for on a net basis. The total transaction price is allocated to each of the identified performance obligations using the relative stand-alone selling price. The objective of the allocation is to reflect the consideration that the Company expects to receive in exchange for the products or services associated with each performance obligation. Stand-alone selling price is the price at which the Company would sell a promised good or service separately to a customer. Stand-alone selling prices are established at contract inception, and subsequent changes in transaction price are allocated on the same basis as at contract inception. When stand-alone selling prices for the Company’s products and services are not observable, the Company uses either the “Expected Cost Plus a Margin” or "Adjusted Market Assessment" approaches to estimate stand-alone selling price. Expected costs are typically derived from the available periodic forecast information. Revenue is recognized when or as control of promised products or services transfers to a customer and is recognized at the amount allocated to each performance obligation associated with the transferred products or services. Service sales, principally representing repair, maintenance, and engineering activities are recognized over the contractual period or as services are rendered. Sales under long-term contracts with performance obligations satisfied over time are recognized using either an input or output method. The Company recognizes revenue over time as it performs on these contracts because of the continuous transfer of control to the customer as represented by contractual terms that entitle the Company to the reimbursement of costs plus a reasonable profit for work performed to manufacture products for which the Company has no alternate use or for work performed on a customer-owned asset. With control transferring over time, revenue is recognized based on the extent of progress toward completion of the performance obligation. The Company generally uses the cost-to-cost input method of progress for its contracts because it best depicts the transfer of control to the customer that occurs as work progresses. Under the cost-to-cost method, the extent of progress toward completion is measured based on the proportion of costs incurred to date to the total estimated costs at completion of the performance obligation. The Company reviews its cost estimates on contracts on a periodic basis, or when circumstances change and warrant a modification to a previous estimate. Cost estimates are largely based on negotiated or estimated purchase contract terms, historical performance trends, and other economic projections. Significant factors that influence these estimates include inflationary trends, technical and schedule risk, internal and subcontractor performance trends, business volume assumptions, asset utilization, and anticipated labor agreements. Revenue and cost estimates are regularly monitored and revised based on changes in circumstances. Impacts from changes in estimates of net sales and cost of sales are recognized on a cumulative catch-up basis, which recognizes in the current period the cumulative effect of the changes on current and prior periods based on a performance obligation’s percentage of completion. Forward loss reserves for anticipated losses on long-term contracts are recorded in full when such losses become evident, to the extent required, and are included in contract liabilities on the accompanying condensed consolidated balance sheets. The Company believes that the accounting estimates and assumptions made by management are appropriate given the increased uncertainties surrounding the severity and duration of the impacts of the COVID-19 pandemic; however, actual results could differ materially from those estimates. For the three months ended September 30, 2021, cumulative catch-up adjustments resulting from changes in contract values and estimated costs that arose during the fiscal year increased net sales by approximately $ 3,066 and decreased operating loss, net loss, and loss per share by approximately $ 7,455 , $ 7,455 , and $ 0.12 , respectively. For the three months ended September 30, 2020, cumulative catch-up adjustments resulting from changes in estimates increased revenue by approximately $ 1,299 and decreased operating loss, net loss, and loss per share by approximately $ 10,052 , $ 10,052 , and $ 0.19 , respectively. For the six months ended September 30, 2021, cumulative catch-up adjustments resulting from changes in contract values and estimated costs that arose during the fiscal year increased net sales by approximately $ 6,375 , and decreased operating loss, net loss, and loss per share by approximately $ 16,910 , $ 16,910 , and $ 0.26 , respectively. For the six months ended September 30, 2020, cumulative catch-up adjustments resulting from changes in estimates increased revenue by approximately $ 3,253 , and decreased operating loss, net loss, and loss per share by approximately $ 13,647 , $ 13,647 , and $ 0.26 , respectively. Revenues for performance obligations that are not recognized over time are recognized at the point in time when control transfers to the customer. For performance obligations that are satisfied at a point in time, the Company evaluates the point in time when the customer can direct the use of and obtain the benefits from the products and services. Generally, the shipping terms determine the point in time when control transfers to customers. Shipping and handling activities are not considered performance obligations and related costs are included in cost of sales as incurred. Differences in the timing of revenue recognition and contractual billing and payment terms result in the recognition contract assets and liabilities. Refer to Note 4 for further discussion. In connection with several prior acquisitions, the Company assumed existing long-term contracts. Based on review of these contracts at the acquisition date, the Company concluded that the terms of certain contracts were either more or less favorable than could be realized in market transactions as of the date of the acquisition. As a result, the Company recognized acquired contract liabilities, net of acquired contract assets as of the acquisition date of each respective acquisition, based on the present value of the difference between the contractual cash flows of the executory contracts and the estimated cash flows had the contracts been executed at the acquisition date. The liabilities principally relate to long-term contracts that were initially executed several years prior to the respective acquisition. The Company measured these net liabilities in the year they were acquired under the measurement provisions of Accounting Standards Codification (“ASC”) 820, Fair Value Measurement , which is based on the price to transfer the obligation to a market participant at the measurement date, assuming that the net liabilities will remain outstanding in the marketplace. The portion of the Company's revenue resulting from transactions other than contracts with customers pertains to the amortization of these acquired contract liabilities as the related contractual performance obligations are satisfied. Adjustments to these liabilities due to significant changes in the total estimated costs of the contract are accounted for in a manner consistent with other loss contract reserves, with such adjustments recognized in cost of sales.
Concentration of Credit Risk	Concentration of Credit Risk The Company’s trade and other accounts receivable are exposed to credit risk. However, the risk is limited due to the diversity of the customer base and the customer base’s wide geographical area. Trade accounts receivable from The Boeing Company ("Boeing") (representing commercial, military and space) represented approximately 15 % and 23 % of total trade accounts receivable as of September 30, 2021 and March 31, 2021, respectively. Trade and other accounts receivable from Qarbon Aerospace Inc. include receivables that largely correspond with payables associated with transition services and represented approximately 12 % and 0 % of total trade accounts receivable as of September 30, 2021 and March 31, 2021, respectively. The Company had no other concentrations of credit risk of more than 10%. Sales to Boeing for the six months ended September 30, 2021, were $ 273,426 , or 36 % of net sales, of which $ 82,988 and $ 190,439 were from Systems & Support and Aerospace Structures, respectively. Sales to Boeing for the six months ended September 30, 2020, were $ 361,770 , or 37 % of net sales, of which $ 104,547 and $ 257,224 were from Systems & Support and Aerospace Structures, respectively. No other single customer accounted for more than 10% of the Company’s net sales. However, the loss of any significant customer, including Boeing, could have a material adverse effect on the Company and its operating subsidiaries.
Fair Value Measurements	Fair Value Measurements Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. When determining fair value measurements for assets and liabilities required to be recorded or disclosed at fair value, the Company considers the principal or most advantageous market in which it would transact and also considers assumptions that market participants would use when pricing an asset or liability. The fair value hierarchy has three levels of inputs that may be used to measure fair value: Level 1—Unadjusted quoted prices in active markets for identical assets or liabilities; Level 2—Unadjusted quoted prices in active markets for similar assets or liabilities, or unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or inputs other than quoted prices that are observable for the asset or liability; and Level 3—Unobservable inputs for the asset or liability. The Company has applied fair value measurements when comparing the carrying value of assets held for sale with the related fair value less cost to sell (see Note 3) and to its pension and postretirement plan assets (see Note 9).
Supplemental Cash Flow Information	Supplemental Cash Flow Information For the six months ended September 30, 2021, the Company paid $ 1,760 for income taxes, net of income tax refunds received. For the six months ended September 30, 2020, the Company paid $ 1,281 for income taxes, net of income tax refunds received.

Revenue Recognition and Contr_2

Revenue Recognition and Contracts with Customers (Tables)	6 Months Ended
	Sep. 30, 2021
Change In Contract With Customer Asset And Liability [Abstract]
Disaggregation of Revenue	The following table shows disaggregated net sales satisfied overtime and at a point in time (excluding intercompany sales) for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 Systems & Support Satisfied over time $ 114,683 $ 102,807 $ 233,664 $ 206,155 Satisfied at a point in time 132,582 147,286 270,804 278,234 Revenue from contracts with customers 247,265 250,093 504,468 484,389 Amortization of acquired contract liabilities 1,493 3,544 2,695 7,263 Total revenue 248,758 253,637 507,163 491,652 Aerospace Structures Satisfied over time $ 97,633 $ 204,180 $ 227,156 $ 447,819 Satisfied at a point in time 11,005 10,379 19,711 16,534 Revenue from contracts with customers 108,638 214,559 246,867 464,353 Amortization of acquired contract liabilities — 13,619 12 20,887 Total revenue 108,638 228,178 246,879 485,240 $ 357,396 $ 481,815 $ 754,042 $ 976,892 The following table shows disaggregated net sales by end market (excluding intercompany sales) for the three and six months ended September 30, 2021 and 2020: Three Months Ended Six Months Ended 2021 2020 2021 2020 Systems & Support Commercial aerospace $ 93,129 $ 95,393 $ 190,585 $ 187,573 Military 126,521 131,120 262,328 251,504 Business jets 10,521 8,708 22,878 19,082 Regional 5,315 7,112 10,588 12,987 Non-aviation 11,779 7,760 18,089 13,243 Revenue from contracts with customers 247,265 250,093 504,468 484,389 Amortization of acquired contract liabilities 1,493 3,544 2,695 7,263 Total revenue $ 248,758 $ 253,637 $ 507,163 $ 491,652 Aerospace Structures Commercial aerospace $ 99,868 $ 121,550 $ 212,529 $ 262,521 Military 1,210 35,438 14,913 73,694 Business jets 6,297 54,150 16,510 120,102 Regional 1,263 3,414 2,897 8,025 Non-aviation — 7 18 11 Revenue from contracts with customers 108,638 214,559 246,867 464,353 Amortization of acquired contract liabilities — 13,619 12 20,887 Total revenue 108,638 228,178 246,879 485,240 $ 357,396 $ 481,815 $ 754,042 $ 976,892
Summary of Contract Assets and Liabilities Balances	Contract balances are classified as assets or liabilities on a contract-by-contract basis at the end of each reporting period. The following table summarizes our contract assets and liabilities balances: September 30, 2021 March 31, Change Contract assets $ 158,425 $ 139,937 $ 18,488 Contract liabilities ( 214,729 ) ( 305,116 ) 90,387 Net contract liability $ ( 56,304 ) $ ( 165,179 ) $ 108,875
Schedule of Performance Obligations that are Expected to Be Recognized in Future	As of September 30, 2021, the Company has the following unsatisfied, or partially unsatisfied, performance obligations that are expected to be recognized in the future as noted in the table below. The Company expects options to be exercised in addition to the amounts presented below. Total Less than 1 year 1 - 3 years 4 - 5 years More than 5 Unsatisfied performance obligations $ 1,912,724 $ 1,059,987 $ 820,588 $ 31,965 $ 184

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of components of inventories	The components of inventories are as follows: September 30, March 31, Raw materials $ 49,802 $ 45,211 Work-in-process, including manufactured and purchased components 298,251 277,729 Finished goods 10,822 51,221 Rotable assets 29,031 26,205 Total inventories $ 387,906 $ 400,366

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consists of the following: September 30, March 31, Finance leases 15,728 20,125 Senior secured first lien notes due 2024 587,489 700,000 Senior secured notes due 2024 525,000 525,000 Senior notes due 2022 — 236,471 Senior notes due 2025 500,000 500,000 Less: debt issuance costs ( 18,528 ) ( 24,053 ) 1,609,689 1,957,543 Less: current portion 3,637 5,247 $ 1,606,052 $ 1,952,296
Schedule of Carrying Amounts and Estimated Fair Values of Long-term Debt	Carrying amounts and the related estimated fair values of the Company's long-term debt not recorded at fair value in the consolidated financial statements are as follows: September 30, 2021 March 31, 2021 Carrying Fair Carrying Fair $ 1,609,689 $ 1,682,692 $ 1,957,543 $ 2,085,204

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Summary of Reconciliation between Weighted-average Common Shares Outstanding used in Calculation of Basis and Diluted Earnings Per Share	The following is a reconciliation between the weighted average outstanding shares used in the calculation of basic and diluted earnings per share: Three Months Ended September 30, Six Months Ended September 30, (in thousands) (in thousands) 2021 2020 2021 2020 Weighted average common shares outstanding – basic 64,545 52,011 64,427 51,941 Net effect of dilutive stock options and non-vested stock (1) — — — — Weighted average common shares outstanding – diluted 64,545 52,011 64,427 51,941 (1) For the three and six months ended September 30, 2021 and 2020 , the shares that could potentially dilute earnings per share in the future but were not included in diluted weighted average common shares outstanding because to do so would have been anti-dilutive were immaterial.

Pension and Other Postretirem_2

Pension and Other Postretirement Benefit Plans (Tables)	6 Months Ended
	Sep. 30, 2021
Compensation And Retirement Disclosure [Abstract]
Schedule of Components of Net Periodic Benefit Income	The components of net periodic benefit income for our postretirement benefit plans are shown in the following table: Pension Benefits Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Components of net periodic benefit income: Service cost $ 186 $ 383 $ 378 $ 760 Interest cost 11,698 16,100 23,521 32,186 Expected return on plan assets ( 33,377 ) ( 34,136 ) ( 66,832 ) ( 68,241 ) Amortization of prior service credits 26 243 68 485 Amortization of net loss 9,614 7,807 19,198 15,605 Curtailment loss — — 16,024 — Settlement loss 3,826 — 3,826 — Special termination benefits 142 — 196 — Net periodic benefit income $ ( 7,885 ) $ ( 9,603 ) $ ( 3,621 ) $ ( 19,205 )

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss ("AOCI") by component for the three and six months ended September 30, 2021 and 2020, were as follows: Currency Unrealized Gains Defined Benefit Total (1) June 30, 2021 $ ( 39,412 ) $ 309 $ ( 468,417 ) $ ( 507,520 ) Other comprehensive income before reclassifications ( 5,692 ) ( 1,613 ) 97 ( 7,208 ) Amounts reclassified from AOCI — 414 11,109 (2) 11,523 Net current period OCI ( 5,692 ) ( 1,199 ) 11,206 4,315 September 30, 2021 $ ( 45,104 ) $ ( 890 ) $ ( 457,211 ) $ ( 503,205 ) June 30, 2020 $ ( 61,126 ) $ ( 2,203 ) $ ( 675,835 ) $ ( 739,164 ) Other comprehensive income before reclassifications 7,282 2,772 — 10,054 Amounts reclassified from AOCI — ( 541 ) 4,265 (2) 3,724 Net current period OCI 7,282 2,231 4,265 13,778 September 30, 2020 $ ( 53,844 ) $ 28 $ ( 671,570 ) $ ( 725,386 ) March 31, 2021 $ ( 42,161 ) $ 1,015 $ ( 489,046 ) $ ( 530,192 ) Other comprehensive income before reclassifications ( 2,943 ) ( 3,333 ) 10,440 4,164 Amounts reclassified from AOCI — 1,428 21,395 (2) 22,823 Net current period OCI ( 2,943 ) ( 1,905 ) 31,835 26,987 September 30, 2021 $ ( 45,104 ) $ ( 890 ) $ ( 457,211 ) $ ( 503,205 ) March 31, 2020 $ ( 62,045 ) $ ( 4,303 ) $ ( 680,100 ) $ ( 746,448 ) Other comprehensive income before reclassifications 8,201 6,430 — 14,631 Amounts reclassified from AOCI — ( 2,099 ) 8,530 (2) 6,431 Net current period OCI 8,201 4,331 8,530 21,062 September 30, 2020 $ ( 53,844 ) $ 28 $ ( 671,570 ) $ ( 725,386 ) (1) Net of tax. (2) Includes amortization of actuarial losses and recognized prior service costs, which are included in net periodic pension income. Refer to Note 9 for additional disclosure regarding our postretirement benefit plans.

Segments (Tables)

Segments (Tables)	6 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Selected Financial Information for Each Reportable Segment and Reconciliation of EBITDAP to Operating Income	Selected financial information for each reportable segment is as follows: Three Months Ended September 30, 2021 Total Corporate & Systems & Aerospace Net sales to external customers $ 357,396 $ — $ 248,758 $ 108,638 Intersegment sales (eliminated in consolidation) — ( 28 ) 23 5 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 52,066 — 45,047 7,019 Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 12,945 ) ( 1,091 ) ( 8,440 ) ( 3,414 ) Interest expense and other, net ( 34,183 ) Corporate expenses ( 13,678 ) Share-based compensation expense ( 2,825 ) Loss on sale of assets and businesses ( 7,660 ) Amortization of acquired contract liabilities 1,493 Non-service defined benefit income 10,449 Loss before income taxes ( 7,283 ) Total capital expenditures $ 5,369 $ 156 $ 2,655 $ 2,558 Total assets $ 1,800,717 $ 164,039 $ 1,431,193 $ 205,485 Three Months Ended September 30, 2020 Total Corporate & Systems & Aerospace Net sales to external customers $ 481,815 $ — $ 253,637 $ 228,178 Intersegment sales (eliminated in consolidation) — ( 1,134 ) 534 600 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 31,208 — 34,169 ( 2,961 ) Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 22,098 ) ( 807 ) ( 8,121 ) ( 13,170 ) Interest expense and other, net ( 52,506 ) Corporate expenses ( 15,483 ) Share-based compensation expense ( 2,621 ) Loss on sale of assets and businesses ( 747 ) Amortization of acquired contract liabilities 17,163 Non-service defined benefit income 12,427 Loss before income taxes ( 32,657 ) Total capital expenditures $ 5,081 $ 232 $ 3,228 $ 1,621 Six Months Ended September 30, 2021 Total Corporate & Systems & Aerospace Net sales to external customers $ 754,042 $ — $ 507,163 $ 246,879 Intersegment sales (eliminated in consolidation) — ( 47 ) 31 16 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 112,284 — 87,895 24,389 Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 28,376 ) ( 1,859 ) ( 16,944 ) ( 9,573 ) Interest expense and other, net ( 72,741 ) Corporate expenses ( 30,631 ) Share-based compensation expense ( 5,072 ) Loss on sale of assets and businesses ( 13,629 ) Amortization of acquired contract liabilities 2,707 Non-service defined benefit income 8,727 Debt extinguishment loss ( 9,689 ) Loss before income taxes ( 36,420 ) Total capital expenditures $ 7,481 $ 514 $ 3,757 $ 3,210 Six Months Ended September 30, 2020 Total Corporate & Systems & Aerospace Net sales to external customers $ 976,892 $ — $ 491,652 $ 485,240 Intersegment sales (eliminated in consolidation) — ( 3,821 ) 2,406 1,415 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 69,660 — 64,237 5,423 Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 50,700 ) ( 1,663 ) ( 16,477 ) ( 32,560 ) Interest expense and other, net ( 87,463 ) Corporate expenses ( 33,544 ) Share-based compensation expense ( 5,407 ) Loss on sale of assets and businesses ( 747 ) Amortization of acquired contract liabilities 28,150 Non-service defined benefit income 24,843 Impairment of long-lived assets ( 252,382 ) Loss before income taxes ( 307,590 ) Total capital expenditures $ 12,804 $ 643 $ 9,511 $ 2,650

Background and Basis of Prese_2

Background and Basis of Presentation - Additional Information (Details)	6 Months Ended
	Sep. 30, 2021Segment
Background And Basis Of Presentation [Line Items]
Number of reportable segments	2

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Change In Accounting Estimate [Line Items]
Change in accounting estimate			$ 6,375,000
Income taxes paid, net of refunds received			1,760,000	$ 1,281,000
Net sales	$ 357,396,000	$ 481,815,000	$ 754,042,000	$ 976,892,000
Boeing [Member] | Trade Accounts Receivable [Member] | Credit Concentration Risk [Member]
Change In Accounting Estimate [Line Items]
Concentration Risk, Percentage			15.00%		23.00%
Boeing [Member] | Net sales [Member] | Customer Concentration Risk [Member]
Change In Accounting Estimate [Line Items]
Concentration Risk, Percentage			36.00%	37.00%
Net sales			$ 273,426,000	$ 361,770,000
Boeing [Member] | Net sales [Member] | Customer Concentration Risk [Member] | Systems & Support [Member]
Change In Accounting Estimate [Line Items]
Net sales			82,988,000	104,547,000
Boeing [Member] | Net sales [Member] | Customer Concentration Risk [Member] | Aerospace Structures [Member]
Change In Accounting Estimate [Line Items]
Net sales			$ 190,439,000	257,224,000
Qarbon Aerospace Inc. [Member] | Trade Accounts Receivable [Member] | Credit Concentration Risk [Member]
Change In Accounting Estimate [Line Items]
Concentration Risk, Percentage			12.00%		0.00%
Revenue Benchmark [Member]
Change In Accounting Estimate [Line Items]
Change in accounting estimate	3,066,000	1,299,000	$ 6,375,000	3,253,000
Operating Income (Loss) [Member]
Change In Accounting Estimate [Line Items]
Change in accounting estimate	7,455,000	10,052,000	16,910,000	13,647,000
Income (Loss), Net [Member]
Change In Accounting Estimate [Line Items]
Change in accounting estimate	7,455,000	10,052,000	16,910,000	13,647,000
Earnings (Loss) Per Share [Member]
Change In Accounting Estimate [Line Items]
Change in accounting estimate	$ 120	$ 190	$ 260	$ 260
Minimum [Member]
Change In Accounting Estimate [Line Items]
Standard trade receivable, payment terms			30 days
Maximum [Member]
Change In Accounting Estimate [Line Items]
Standard trade receivable, payment terms			120 days

Divested Operations and Asset_2

Divested Operations and Assets Held For Sale - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
	Oct. 31, 2021	May 31, 2021	Aug. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Discontinued operations and assets held for sale
Gain (loss) on disposition of assets				$ (7,660)	$ (747)	$ (13,629)	$ (747)
Gulfstream G650 [Member]
Discontinued operations and assets held for sale
Proceeds from divestiture of business			$ 51,000
Gain (loss) on disposition of assets			$ (819)
Product Lines of Staverton, United Kingdom operations [Member] | Subsequent Event [Member]
Discontinued operations and assets held for sale
Proceeds from divestiture of business	$ 34,000
Assets Held for Sale Composites Manufacturing Operations [Member]
Discontinued operations and assets held for sale
Impairment on the assets held for sale								$ 102,500
Proceeds from divestiture of business		$ 155,000
Gain (loss) on disposition of business		(6,000)		$ (8,000)
Loss due to curtailment		$ (16,000)
Spokane Operations [Member]
Discontinued operations and assets held for sale
Asset held for sale purchase price						11,000
Proceeds from sale of asset held for sale						$ 6,000

Revenue Recognition and Contr_3

Revenue Recognition and Contracts with Customers - Schedule of Disaggregated Net Sales Satisfied Overtime and at a Point in Time (Excluding Intercompany Sales) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Line Items]
Amortization of acquired contract liabilities	$ 1,493	$ 17,163	$ 2,707	$ 28,150
Net sales	357,396	481,815	754,042	976,892
Systems & Support [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	247,265	250,093	504,468	484,389
Amortization of acquired contract liabilities	1,493	3,544	2,695	7,263
Revenues excluding intercompany sales	248,758	253,637	507,163	491,652
Systems & Support [Member] | Transferred over Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	114,683	102,807	233,664	206,155
Systems & Support [Member] | Transferred at Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	132,582	147,286	270,804	278,234
Aerospace Structures [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	108,638	214,559	246,867	464,353
Amortization of acquired contract liabilities		13,619	12	20,887
Revenues excluding intercompany sales	108,638	228,178	246,879	485,240
Aerospace Structures [Member] | Transferred over Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	97,633	204,180	227,156	447,819
Aerospace Structures [Member] | Transferred at Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	$ 11,005	$ 10,379	$ 19,711	$ 16,534

Revenue Recognition and Contr_4

Revenue Recognition and Contracts with Customers - Schedule of Disaggregated Net Sales by End Market (Excluding Intercompany Sales) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation Of Revenue [Line Items]
Amortization of acquired contract liabilities	$ 1,493	$ 17,163	$ 2,707	$ 28,150
Net sales	357,396	481,815	754,042	976,892
Systems & Support [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	247,265	250,093	504,468	484,389
Amortization of acquired contract liabilities	1,493	3,544	2,695	7,263
Revenues excluding intercompany sales	248,758	253,637	507,163	491,652
Systems & Support [Member] | Commercial Aerospace [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	93,129	95,393	190,585	187,573
Systems & Support [Member] | Military [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	126,521	131,120	262,328	251,504
Systems & Support [Member] | Business Jets [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	10,521	8,708	22,878	19,082
Systems & Support [Member] | Regional [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	5,315	7,112	10,588	12,987
Systems & Support [Member] | Non-aviation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	11,779	7,760	18,089	13,243
Aerospace Structures [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	108,638	214,559	246,867	464,353
Amortization of acquired contract liabilities		13,619	12	20,887
Revenues excluding intercompany sales	108,638	228,178	246,879	485,240
Aerospace Structures [Member] | Commercial Aerospace [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	99,868	121,550	212,529	262,521
Aerospace Structures [Member] | Military [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	1,210	35,438	14,913	73,694
Aerospace Structures [Member] | Business Jets [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	6,297	54,150	16,510	120,102
Aerospace Structures [Member] | Regional [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	$ 1,263	3,414	2,897	8,025
Aerospace Structures [Member] | Non-aviation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers		$ 7	$ 18	$ 11

Revenue Recognition and Contr_5

Revenue Recognition and Contracts with Customers - Summary of Contract Assets and Liabilities Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Contract assets	$ 158,425	$ 139,937
Contract liabilities	(214,729)	(305,116)
Net contract liability	(56,304)	$ (165,179)
Change in contract assets	18,488
Change in contract liabilities	90,387
Change in net contract liability	$ 108,875

Revenue Recognition and Contr_6

Revenue Recognition and Contracts with Customers - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Mar. 31, 2021
Revenue From Contract With Customer [Abstract]
Revenue recognized due to changes in estimates associated with performance obligations	$ 6,375
Contract with Customer, Liability, Revenue Recognized	68,095
Contract with Customer, Asset, Net, Noncurrent	8,017	$ 5,299
Contract with Customer, Liability, Noncurrent	$ 55,038	$ 100,737

Revenue Recognition and Contr_7

Revenue Recognition and Contracts with Customers - Schedule of Performance Obligations that are Expected to Be Recognized in Future (Details) $ in Thousands	Sep. 30, 2021USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 1,912,724
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	1,059,987
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	820,588
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	31,965
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 184
Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2022-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 years
Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	4 years
Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2026-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	5 years
Minimum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2027-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	5 years

Revenue Recognition and Contr_8

Revenue Recognition and Contracts with Customers - Schedule of Performance Obligations that are Expected to Be Recognized in Future (Details 1) $ in Thousands	Sep. 30, 2021USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 1,912,724

Inventories - Schedule of Compo

Inventories - Schedule of Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 49,802	$ 45,211
Work-in-process, including manufactured and purchased components	298,251	277,729
Finished goods	10,822	51,221
Rotable assets	29,031	26,205
Total inventories	$ 387,906	$ 400,366

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Less: debt issuance costs	$ (18,528)	$ (24,053)
Long-term debt	1,609,689	1,957,543
Current portion of long-term debt	3,637	5,247
Long-term debt, less current portion	1,606,052	1,952,296
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Long-term debt	15,728	20,125
Senior Secured First Lien Notes Due 2024 [Member]
Debt Instrument [Line Items]
Long-term debt	587,489	700,000
Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Long-term debt	525,000	525,000
Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Long-term debt		236,471
Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Long-term debt	$ 500,000	$ 500,000

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($)	Jun. 18, 2021	May 19, 2021	Aug. 17, 2020	Sep. 23, 2019	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Debt Instrument [Line Items]
Premium on redemption of first lien notes					$ 7,489,000
Interest paid, including capitalized interest, operating and investing activities					82,570,000	$ 52,806,000
Receivable Securitization Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					75,000,000
Long-term debt					0
Letters of credit outstanding, amount					$ 24,772,000
Receivables securitization facility, expiration period					2022-12
Receivable Securitization Facility [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage			2.50%
Line of credit facility, unused capacity, commitment fee percentage			0.60%
Receivable Securitization Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 50,000,000
Receivable Securitization Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			0.75%
Senior Secured First Lien Notes Due 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			8.875%
Long-term debt					$ 587,489,000		$ 700,000,000
Debt instrument, principal amount			$ 700,000,000
Proceeds from loan, percentage of principal (as a percent)			100.00%
Debt instrument, interest rate, effective percentage			8.875%
Debt instrument, interest payment terms					Interest is payable semiannually in cash in arrears on June 1 and December 1 of each year.
Debt instrument, redemption price, percentage			100.00%
Debt instrument, redemption, description			40.00%
Debt instrument, redemption price, percentage - equity offering			108.875%
Debt instrument, redemption price, percentage - change of control			101.00%
Debt instrument repayment premium percentage			106.656%
Aggregate principal amount of Notes outstanding			$ 350,000,000
Available amount in asset sale covenants			$ 100,000,000
Redemption of aggregate principal amount					$ 112,511,000
Premium on redemption of first lien notes					7,489,000
Senior Notes Due 2024 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage				6.25%
Long-term debt					$ 525,000,000		525,000,000
Debt instrument, principal amount				$ 525,000,000
Debt instrument, interest rate, effective percentage				6.25%
Debt instrument, interest payment terms					Interest on the 2024 Notes is payable semiannually in cash in arrears on March 15 and September 15 of each year.
Debt instrument, redemption price, percentage				100.00%
Debt instrument, due date				Sep. 15, 2024
Senior Notes Due 2022 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage		5.25%
Long-term debt							236,471,000
Debt instrument, due date		Jun. 1, 2022
Debt instrument principal amount redeemed	$ 236,471,000
Senior Notes Due 2025 [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage			7.75%
Long-term debt					$ 500,000,000		$ 500,000,000
Debt instrument, principal amount			$ 500,000,000
Proceeds from loan, percentage of principal (as a percent)			100.00%
Debt instrument, interest rate, effective percentage			7.75%
Debt instrument, interest payment terms					Interest on the 2025 Notes accrues at the rate of 7.750% per annum and is payable semiannually in cash in arrears on February 15 and August 15 of each year.
Debt instrument, due date			Aug. 15, 2025

Long-term Debt - Schedule of Ca

Long-term Debt - Schedule of Carrying Amounts and Estimated Fair Values of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Long-term debt	$ 1,609,689	$ 1,957,543
Reported Value Measurement [Member]
Debt Instrument [Line Items]
Long-term debt	1,609,689	1,957,543
Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Long-term debt	$ 1,682,692	$ 2,085,204

Earnings per Share - Summary of

Earnings per Share - Summary of Reconciliation between Weighted-average Common Shares Outstanding used in Calculation of Basis and Diluted Earnings Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Weighted average common shares outstanding—basic	64,545	52,011	64,427	51,941
Net effect of dilutive stock options and non-vested stock	0	0	0	0
Weighted average common shares outstanding—diluted	64,545	52,011	64,427	51,941

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 11,678		$ 11,678		$ 11,536
Effective income tax rate (as a percent)	(24.50%)	(2.50%)	(8.20%)	(0.50%)

Pension and Other Postretirem_3

Pension and Other Postretirement Benefit Plans - Schedule of Components of Net Periodic Benefit Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 186	$ 383	$ 378	$ 760
Interest cost	11,698	16,100	23,521	32,186
Expected return on plan assets	(33,377)	(34,136)	(66,832)	(68,241)
Amortization of prior service credits	26	243	68	485
Amortization of net loss	9,614	7,807	19,198	15,605
Curtailment loss			16,024
Settlement loss	3,826		3,826
Special termination benefits	142		196
Net periodic benefit income	(7,885)	$ (9,603)	(3,621)	$ (19,205)
Other postretirement [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit income	$ 2,349		$ 4,698

Pension and Other Postretirem_4

Pension and Other Postretirement Benefit Plans - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Curtailment charge		$ 16,024
Noncash actuarial losses	$ 3,826
Other postretirement [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit income	$ 2,349	$ 4,698

Stockholders' Deficit - Schedul

Stockholders' Deficit - Schedule of Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance	$ (826,226)	$ (1,047,381)	$ (818,853)	$ (781,264)
Total other comprehensive income	4,315	13,778	26,987	21,062
Balance	(828,869)	(1,064,357)	(828,869)	(1,064,357)
Currency Translation Adjustment [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance	(39,412)	(61,126)	(42,161)	(62,045)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(5,692)	7,282	(2,943)	8,201
Total other comprehensive income	(5,692)	7,282	(2,943)	8,201
Balance	(45,104)	(53,844)	(45,104)	(53,844)
Unrealized Gains and Losses on Derivative Instruments [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance	309	(2,203)	1,015	(4,303)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(1,613)	2,772	(3,333)	6,430
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	414	(541)	1,428	(2,099)
Total other comprehensive income	(1,199)	2,231	(1,905)	4,331
Balance	(890)	28	(890)	28
Defined Benefit Pension Plans and Other Postretirement Benefits [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance	(468,417)	(675,835)	(489,046)	(680,100)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	97		10,440
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	11,109	4,265	21,395	8,530
Total other comprehensive income	11,206	4,265	31,835	8,530
Balance	(457,211)	(671,570)	(457,211)	(671,570)
Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance	(507,520)	(739,164)	(530,192)	(746,448)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(7,208)	10,054	4,164	14,631
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	11,523	3,724	22,823	6,431
Total other comprehensive income	4,315	13,778	26,987	21,062
Balance	$ (503,205)	$ (725,386)	$ (503,205)	$ (725,386)

Segments - Additional Informati

Segments - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)Segment	Sep. 30, 2020USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment			2
Net sales	$ 357,396	$ 481,815	$ 754,042	$ 976,892
Foreign Sales [Member]
Segment Reporting Information [Line Items]
Net sales	$ 81,119	$ 96,734	$ 158,043	$ 188,931

Segments - Schedule of Selected

Segments - Schedule of Selected Financial Information for Each Reportable Segment and Reconciliation of EBITDAP to Operating Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Segment Reporting Information [Line Items]
Net sales to external customers	$ 357,396	$ 481,815	$ 754,042	$ 976,892
Segment profit and reconciliation to consolidated income before income taxes:
Adjusted EBITDAP	52,066	31,208	112,284	69,660
Reconciliation of segment profit to loss before income taxes
Depreciation and amortization	(12,945)	(22,098)	(28,376)	(50,700)
Interest expense and other, net	(34,183)	(52,506)	(72,741)	(87,463)
Corporate expenses	(13,678)	(15,483)	(30,631)	(33,544)
Share-based compensation expense	(2,825)	(2,621)	(5,072)	(5,407)
Loss on sale of assets and businesses	(7,660)	(747)	(13,629)	(747)
Amortization of acquired contract liabilities	1,493	17,163	2,707	28,150
Non-service defined benefit expense (income)	10,449	12,427	8,727	24,843
Debt extinguishment loss			(9,689)
Impairment of long-lived assets				(252,382)
Loss before income taxes	(7,283)	(32,657)	(36,420)	(307,590)
Total capital expenditures	5,369	5,081	7,481	12,804
Total assets	1,800,717		1,800,717		$ 2,450,935
Systems & Support [Member]
Segment Reporting Information [Line Items]
Intersegment sales (eliminated in consolidation)	23	534	31	2,406
Reconciliation of segment profit to loss before income taxes
Amortization of acquired contract liabilities	1,493	3,544	2,695	7,263
Aerospace Structures [Member]
Segment Reporting Information [Line Items]
Intersegment sales (eliminated in consolidation)	5	600	16	1,415
Reconciliation of segment profit to loss before income taxes
Amortization of acquired contract liabilities		13,619	12	20,887
Corporate & Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales to external customers	(28)	(1,134)	(47)	(3,821)
Reconciliation of segment profit to loss before income taxes
Depreciation and amortization	(1,091)	(807)	(1,859)	(1,663)
Total capital expenditures	156	232	514	643
Total assets	164,039		164,039
Operating Segments [Member] | Systems & Support [Member]
Segment Reporting Information [Line Items]
Net sales to external customers	248,758	253,637	507,163	491,652
Segment profit and reconciliation to consolidated income before income taxes:
Adjusted EBITDAP	45,047	34,169	87,895	64,237
Reconciliation of segment profit to loss before income taxes
Depreciation and amortization	(8,440)	(8,121)	(16,944)	(16,477)
Total capital expenditures	2,655	3,228	3,757	9,511
Total assets	1,431,193		1,431,193
Operating Segments [Member] | Aerospace Structures [Member]
Segment Reporting Information [Line Items]
Net sales to external customers	108,638	228,178	246,879	485,240
Segment profit and reconciliation to consolidated income before income taxes:
Adjusted EBITDAP	7,019	(2,961)	24,389	5,423
Reconciliation of segment profit to loss before income taxes
Depreciation and amortization	(3,414)	(13,170)	(9,573)	(32,560)
Total capital expenditures	2,558	$ 1,621	3,210	$ 2,650
Total assets	$ 205,485		$ 205,485

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	6 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Annual payment period for withdrawal liability obligation	10 years

Restructuring - Additional Info

Restructuring - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2022
Restructuring Cost And Reserve [Line Items]
Restructuring	$ 3,897	$ 13,237	$ 8,382	$ 28,676
Forecast [Member]
Restructuring Cost And Reserve [Line Items]
Estimated consolidated restructuring costs					$ 15,000
Systems & Support [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring			1,048
Aerospace Structures [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring			6,902
Corporate Headquarters [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring			$ 432

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) - USD ($)	Nov. 05, 2021	Aug. 17, 2020	Oct. 31, 2021	Sep. 30, 2021	Mar. 31, 2021
Senior Secured First Lien Notes Due 2024 [Member]
Subsequent Event [Line Items]
Debt instrument, redemption price, percentage		100.00%
Long-term debt				$ 587,489,000	$ 700,000,000
Senior Secured First Lien Notes Due 2024 [Member] | Subsequent Events [Member]
Subsequent Event [Line Items]
Net proceeds used to redeem aggregate principal amount of first lien note			$ 26,000,000
Redemption of aggregate principal amount			$ 24,300,000
Debt instrument, redemption price, percentage			106.656%
Long-term debt			$ 563,200,000
Receivable Securitization Facility [Member]
Subsequent Event [Line Items]
Long-term debt				0
Line of credit facility, maximum borrowing capacity				$ 75,000,000
Receivables securitization facility, expiration period				2022-12
Receivable Securitization Facility [Member] | Subsequent Events [Member]
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 75,000,000
Amended Receivable Securitization Facility [Member] | Subsequent Events [Member]
Subsequent Event [Line Items]
Line of credit facility, maximum borrowing capacity	$ 100,000,000
Receivables securitization facility, expiration period	2024-11
Assets Held for Sale and Licensing of Legacy Product Lines [Member] | Subsequent Events [Member]
Subsequent Event [Line Items]
Proceeds from divestiture of business			$ 34,000,000