Triumph (TGI) 10-Q 12 Nov 24 2025 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2024	Nov. 07, 2024
Document Information [Line Items]
Document Period End Date	Sep. 30, 2024
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	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		77,350,330
Document Fiscal Year Focus	2025
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	555 E Lancaster Avenue
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Radnor
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	19087
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, 2024	Mar. 31, 2024
Current assets:
Cash and cash equivalents	$ 104,893	$ 392,511
Trade and other receivables, less allowance for credit losses of $5,333 and $4,773	162,217	138,272
Contract assets	84,719	74,289
Inventory, net	393,824	317,671
Prepaid expenses and other current assets	15,661	16,626
Total current assets	761,314	939,369
Property and equipment, net	148,809	144,287
Goodwill	514,976	510,687
Intangible assets, net	60,703	65,063
Other, net	25,663	26,864
Total assets	1,511,465	1,686,270
Current liabilities:
Current portion of long-term debt	8,126	3,200
Accounts payable	145,566	167,349
Contract liabilities	48,055	55,858
Accrued expenses	105,876	129,855
Total current liabilities	307,623	356,262
Long-term debt, less current portion	957,620	1,074,999
Accrued pension and other postretirement benefits	269,266	283,634
Deferred income taxes	7,284	7,268
Other noncurrent liabilities	64,858	68,521
Stockholders' deficit:
Common stock, $.001 par value, 200,000,000 shares authorized, 77,334,487 and 76,923,691 shares issued and outstanding	77	77
Capital in excess of par value	1,112,120	1,107,750
Accumulated other comprehensive loss	(509,987)	(517,069)
Accumulated deficit	(697,396)	(695,172)
Total stockholders' deficit	(95,186)	(104,414)
Total liabilities and stockholders' deficit	$ 1,511,465	$ 1,686,270

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 5,333	$ 4,773
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	77,334,487	76,923,691
Common stock, shares outstanding	77,334,487	76,923,691

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Net sales	$ 287,495	$ 284,678	$ 568,511	$ 548,501
Operating costs and expenses:
Cost of sales (exclusive of depreciation shown separately below)	192,891	209,865	399,968	403,770
Selling, general and administrative	51,123	42,137	100,501	92,631
Depreciation and amortization	7,487	7,314	14,854	14,679
Legal contingencies loss		1,338	7,464	1,338
Restructuring	3,566	1,942	5,182	1,942
(Gain) loss on sale of assets and businesses		(409)		12,208
Operating Expenses	255,067	262,187	527,969	526,568
Operating income	32,428	22,491	40,542	21,933
Non-service defined benefit expense (income)	1,468	(820)	2,501	(1,640)
Debt modification and extinguishment (gain) loss		(688)	5,369	(4,079)
Warrant remeasurement gain, net		(544)		(8,545)
Interest expense and other, net	21,869	29,833	40,853	61,935
Income (Loss) from continuing operations before income taxes	9,091	(5,290)	(8,181)	(25,738)
Income tax (benefit) expense	(2,776)	1,019	(1,277)	2,279
Income (loss) from continuing operations	11,867	(6,309)	(6,904)	(28,017)
Income from discontinued operations, net of tax expense of $0, $723, $338 and $1,213, respectively		5,013	4,680	8,558
Net income (loss)	$ 11,867	$ (1,296)	$ (2,224)	$ (19,459)
Earnings (loss) per share-basic:
Earnings (loss) per share - continuing operations	$ 0.15	$ (0.08)	$ (0.09)	$ (0.39)
Earnings per share - discontinued operations		0.06	0.06	0.12
Earnings (loss) per share	$ 0.15	$ (0.02)	$ (0.03)	$ (0.27)
Weighted average common shares outstanding—basic	77,343	76,447	77,252	71,368
Earnings (loss) per share-diluted:
Earnings (loss) per share - continuing operations	$ 0.15	$ (0.08)	$ (0.09)	$ (0.39)
Earnings per share - discontinued operations		0.06	0.06	0.12
Earnings (loss) per share	$ 0.15	$ (0.02)	$ (0.03)	$ (0.27)
Weighted average common shares outstanding—diluted	77,718	76,447	77,252	71,368

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Statement [Abstract]
Income from discontinued operations, net of tax expense	$ 0	$ 723	$ 338	$ 1,213

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net Income (Loss)	$ 11,867	$ (1,296)	$ (2,224)	$ (19,459)
Other comprehensive income (loss):
Foreign currency translation adjustment	3,309	(5,160)	(3,067)	(1,456)
Reclassification to net income (loss) - net of tax expense
Amortization of net loss, net of taxes of $0, $0, $0 and $0, respectively	7,174	6,423	14,348	12,847
Recognized prior service credits, net of taxes of $0, $0, $0 and $0, respectively	(1,250)	(1,250)	(2,501)	(2,501)
Total defined benefit pension plans and other postretirement benefits income, net of taxes	5,924	5,173	11,847	10,346
Cash flow hedges:
Unrealized loss arising during the period, net of tax expense of $0, $0, $0 and $0, respectively	(959)	(13)	(2,604)	566
Reclassification of loss (gain) included in net earnings, net of tax expense of $0,$0, $0 and $0, respectively	875	(845)	906	(1,761)
Net unrealized loss on cash flow hedges, net of tax	(84)	(858)	(1,698)	(1,195)
Total other comprehensive income (loss)	9,149	(845)	7,082	7,695
Total comprehensive income (loss)	$ 21,016	$ (2,141)	$ 4,858	$ (11,764)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
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_5

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, 2023	$ (797,396)	$ 65	$ 964,741		$ (554,646)	[1]	$ (1,207,556)
Balance (in shares) at Mar. 31, 2023		65,432,589
Net income (loss)	(18,163)						(18,163)
Foreign currency translation adjustment	3,704				3,704
Pension liability adjustment, net of income taxes	5,173				5,173
Change in fair value of foreign currency hedges, net of income taxes	(337)				(337)
Share-based compensation	3,622		3,622
Share-based compensation, shares		300,102
Repurchase of restricted shares for minimum tax obligation	(1,235)			$ (1,235)
Repurchase of restricted shares for minimum tax obligation, shares		(103,996)
Retirement of treasury shares			(414)	414
Employee stock purchase plan	150		150
Employee stock purchase plan, shares		12,907
Warrant exercises, net of income taxes	13,482	$ 1	13,481
Warrant exercises, net of income taxes, shares		1,122,438
Issuance of shares on pension contribution	39,136	$ 4	38,311	821
Issuance of shares on pension contribution, shares		3,200,000
Balance at Jun. 30, 2023	(751,864)	$ 70	1,019,891		(546,106)	[1]	(1,225,719)
Balance (in shares) at Jun. 30, 2023		69,964,040
Balance at Mar. 31, 2023	(797,396)	$ 65	964,741		(554,646)	[1]	(1,207,556)
Balance (in shares) at Mar. 31, 2023		65,432,589
Foreign currency translation adjustment	(1,456)
Share-based compensation	7,346
Balance at Sep. 30, 2023	(668,216)	$ 77	1,105,673		(546,951)	[1]	(1,227,015)
Balance (in shares) at Sep. 30, 2023		76,835,661
Balance at Jun. 30, 2023	(751,864)	$ 70	1,019,891		(546,106)	[1]	(1,225,719)
Balance (in shares) at Jun. 30, 2023		69,964,040
Net income (loss)	(1,296)						(1,296)
Foreign currency translation adjustment	(5,160)				(5,160)
Pension liability adjustment, net of income taxes	5,173				5,173
Change in fair value of foreign currency hedges, net of income taxes	(858)				(858)
Share-based compensation	3,724		3,677	47
Share-based compensation, shares		127,324
Repurchase of restricted shares for minimum tax obligation	(47)			(47)
Repurchase of restricted shares for minimum tax obligation, shares		(4,944)
Employee stock purchase plan	166		166
Employee stock purchase plan, shares		13,443
Warrant exercises, net of income taxes	81,946	$ 7	81,939
Warrant exercises, net of income taxes, shares		6,735,798
Balance at Sep. 30, 2023	(668,216)	$ 77	1,105,673		(546,951)	[1]	(1,227,015)
Balance (in shares) at Sep. 30, 2023		76,835,661
Balance at Mar. 31, 2024	(104,414)	$ 77	1,107,750		(517,069)	[1]	(695,172)
Balance (in shares) at Mar. 31, 2024		76,923,691
Net income (loss)	(14,091)						(14,091)
Foreign currency translation adjustment	(6,376)				(6,376)
Pension liability adjustment, net of income taxes	5,923				5,923
Change in fair value of foreign currency hedges, net of income taxes	(1,614)				(1,614)
Share-based compensation	3,015		3,015
Share-based compensation, shares		473,076
Repurchase of restricted shares for minimum tax obligation	(2,132)			(2,132)
Repurchase of restricted shares for minimum tax obligation, shares		(158,885)
Retirement of treasury shares			(2,132)	2,132
Employee stock purchase plan	128		128
Employee stock purchase plan, shares		8,920
Balance at Jun. 30, 2024	(119,561)	$ 77	1,108,761		(519,136)	[1]	(709,263)
Balance (in shares) at Jun. 30, 2024		77,246,802
Balance at Mar. 31, 2024	(104,414)	$ 77	1,107,750		(517,069)	[1]	(695,172)
Balance (in shares) at Mar. 31, 2024		76,923,691
Foreign currency translation adjustment	(3,067)
Share-based compensation	6,365
Balance at Sep. 30, 2024	(95,186)	$ 77	1,112,120		(509,987)	[1]	(697,396)
Balance (in shares) at Sep. 30, 2024		77,334,487
Balance at Jun. 30, 2024	(119,561)	$ 77	1,108,761		(519,136)	[1]	(709,263)
Balance (in shares) at Jun. 30, 2024		77,246,802
Net income (loss)	11,867						11,867
Foreign currency translation adjustment	3,309				3,309
Pension liability adjustment, net of income taxes	5,924				5,924
Change in fair value of foreign currency hedges, net of income taxes	(84)				(84)
Share-based compensation	3,350		3,350
Share-based compensation, shares		84,225
Repurchase of restricted shares for minimum tax obligation	(141)			(141)
Repurchase of restricted shares for minimum tax obligation, shares		(6,753)
Retirement of treasury shares			(141)	$ 141
Employee stock purchase plan	150		150
Employee stock purchase plan, shares		10,213
Balance at Sep. 30, 2024	$ (95,186)	$ 77	$ 1,112,120		$ (509,987)	[1]	$ (697,396)
Balance (in shares) at Sep. 30, 2024		77,334,487
[1] Net of tax

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Deficit (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023
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
Warrant exercises, net of income taxes			$ 0	$ 0

Condensed Consolidated Statem_7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Operating Activities
Net loss	$ 11,867	$ (1,296)	$ (2,224)	$ (19,459)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			14,854	16,160
Amortization of acquired contract liability			(1,213)	(1,165)
(Gain) loss on sale of assets and businesses			(5,018)	12,208
Loss (gain) on modification and extinguishment of debt		(688)	5,369	(4,079)
Other amortization included in interest expense			2,052	2,980
Provision for credit losses			329	781
Warrants remeasurement gain				(8,532)
Share-based compensation			6,365	7,346
Changes in other assets and liabilities, excluding the effects of acquisitions and divestitures:
Trade and other receivables			(23,848)	22,131
Contract assets			(10,419)	(6,426)
Inventories			(75,053)	(45,394)
Prepaid expenses and other current assets			953	(1,028)
Accounts payable, accrued expenses, and contract liabilities			(46,191)	(69,795)
Accrued pension and other postretirement benefits			(2,540)	(2,386)
Other, net			(6,344)	713
Net cash used in operating activities			(142,928)	(95,945)
Investing Activities
Capital expenditures	(6,286)	(4,627)	(14,458)	(11,028)
Payments on sale of assets and businesses			(2,328)	(6,785)
Investment in joint venture				(1,527)
Net cash used in investing activities			(16,786)	(19,340)
Financing Activities
Proceeds from issuance of long-term debt				2,000
Retirement of debt and finance lease obligations			(121,594)	(19,865)
Payment of deferred financing costs				(1,578)
Proceeds on issuance of common stock, net of issuance costs				79,961
Premium on redemption of long-term debt			(3,600)
Repurchase of shares for share-based compensation minimum tax obligation			(2,273)	(1,282)
Net cash (used in) provided by financing activities			(127,467)	59,236
Effect of exchange rate changes on cash			(437)	(1,469)
Net change in cash and cash equivalents			(287,618)	(57,518)
Cash and cash equivalents at beginning of period			392,511	227,403	$ 227,403
Cash and cash equivalents at end of period	$ 104,893	$ 169,885	$ 104,893	$ 169,885	$ 392,511

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 11,867	$ (1,296)	$ (2,224)	$ (19,459)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Background and Basis of Present

Background and Basis of Presentation	6 Months Ended
	Sep. 30, 2024
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, 2024 and 2023, are not necessarily indicative of results that may be expected for the year ending March 31, 2025. The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the fiscal 2024 audited consolidated financial statements and notes thereto included in the Company's Form 10-K for the fiscal year ended March 31, 2024, filed with the Securities and Exchange Commission (the "SEC") on May 31, 2024. Triumph Group, Inc. ("Triumph" or the "Company") is a Delaware corporation which, 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 Interiors. 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. As disclosed in Note 3, in December 2023 the Company entered into a definitive agreement with AAR Corp. (“AAR”), to sell Systems & Support's maintenance, repair, and overhaul operations located in Wellington, Kansas; Grand Prairie, Texas; San Antonio, Texas; Hot Springs, Arkansas; and Chonburi, Thailand (“Product Support”). As a result of this agreement, the Company has classified the Product Support results of operations for all periods presented as discontinued operations, and these operations are no longer reported as part of the Systems & Support reportable segment. Interiors consists of the Company’s operations that have historically supplied commercial, business, and regional manufacturers with large metallic structures and continues to supply aircraft interior systems, including air ducting and thermal acoustic insulations systems. Subsequent to the divestitures disclosed in Note 3, the remaining operations of Interiors are those that supply commercial and regional manufacturers with aircraft interior systems. 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. The preparation of financial statements in conformity with accounting principles generally accepted in the United States 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. Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures (“ASU 2023-07”), which requires disclosure of significant segment expenses and other segment items on an annual and interim basis. ASU 2023-07 is effective for annual periods beginning after December 15, 2023, and for interim periods beginning after December 15, 2024. Early adoption is permitted and the amendments in this ASU must be applied on a retrospective basis to all periods presented. The Company has not determined the impact ASU 2023-07 may have on the Company’s financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures ("ASU 2023-09"), which improves income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The ASU indicates that all entities will apply its guidance prospectively with an option for retroactive application to each period in the financial statements. The Company has not determined the impact ASU 2023-09 may have on the Company’s financial statement disclosures.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 generally do not represent material rights granted to customers. The Company generally enters into agreements directly with its customers and is the principal in substantially 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, claims (when a legal basis exists), 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 that the Company has determined that it is probable that a significant reversal of cumulative revenue recognized for the contract will not occur when the uncertainty associated with the variable consideration is resolved, and any excess variable consideration above such included amount is considered constrained. Consideration paid or payable to a customer is reflected as a reduction in net revenues when the amounts paid are not related to a distinct good or service at the later of when the related revenue is recognized or when the Company pays or promises to pay the consideration to the customer. 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. 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 and asset utilization. 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; however, actual results could differ materially from those estimates. 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. The Company updates the estimated transaction price, including its assessment of whether an estimate of variable consideration is constrained, at the end of each reporting period to represent faithfully the circumstances present at the end of the reporting period and the changes in circumstances during the reporting period. Any portion of the change in transaction price that is allocated to satisfied and partially satisfied (when control transfers over time) performance obligations is recognized as revenue in the period of the transaction price change as a cumulative catch-up adjustment. Differences in the timing of revenue recognition and contractual billing and payment terms result in the recognition of contract assets and liabilities. Refer to Note 4 for further discussion. 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 18 % and 14 % of total trade accounts receivable as of September 30, 2024 and March 31, 2024, respectively. Sales to Boeing for the six months ended September 30, 2024 were $ 128,129 , or 22.5 % of net sales, of which $ 83,612 and $ 44,517 were from Systems & Support and Interiors, respectively. Sales to Boeing for the six months ended September 30, 2023, were $ 133,252 , or 24.3 % of net sales, of which $ 86,927 and $ 46,325 were from Systems & Support and Interiors, 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. Warrants On December 1, 2022, the Company’s board of directors declared a distribution to holders of the Company’s shares of common stock in the form of warrants to purchase shares of common stock (the “Warrants”). Holders of common stock received three Warrants for every ten shares of common stock held as of December 12, 2022 (the "Record Date"). The Company issued approximately 19.5 million Warrants on December 19, 2022, to holders of record of common stock as of the close of business on the Record Date. Each Warrant represented the right to purchase initially one share of common stock, at an exercise price of $ 12.35 per Warrant, subject to certain anti-dilution adjustments. Payment for shares of common stock on exercise of Warrants could have been made in (i) cash or (ii) under certain circumstances, certain of the Company's outstanding notes (the "Designated Notes"). The common stock warrants were accounted for as derivative liabilities in accordance with ASC 815-40 and included within accrued liabilities on the accompanying condensed consolidated balance sheets. The Company measured the Warrants at fair value as of the issuance date using a Monte Carlo pricing model, a Level 3 fair value measurement (as described below), due to the level of market activity. Inherent in the option pricing simulation are assumptions related to expected stock-price volatility, expected life and risk-free interest rate. The Company estimated the volatility of the Warrants based on implied and historical volatility of the Company’s common stock. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the Warrants. The expected life of the Warrants was based on the Company’s ability to redeem the Warrants, subject to a 20 calendar-day notice period, as well as the automatic acceleration of the Expiration Date following the Price Condition Date. During the three months ended December 31, 2022, due to increased trading volume, the Company began remeasuring outstanding Warrants using the Warrants trading price, a Level 1 fair value measurement (as described below). The Warrants were remeasured at each balance sheet date. Warrants remeasurement adjustments were recognized in warrant remeasurement gain, net on the accompanying condensed consolidated statements of operations. At distribution, the fair value of the Warrants was $ 19,500 . Approximately 7.7 million Warrants were exercised in the year ended March 31, 2024, resulting in total cash proceeds, net of transaction costs, of approximately $ 79,961 and $ 8,532 of warrants remeasurement gain was recognized in the six months ended September 30, 2023 . On July 6, 2023 , the Company redeemed all of the approximately 11.4 million remaining outstanding Warrants for a total redemption price of approximately $ 11 pursuant to its June 16, 2023, notice of redemption. Contingencies Contingencies are existing conditions, situations or circumstances involving uncertainty as to possible gain or loss that will ultimately be resolved when future events occur or fail to occur. Such contingencies include, but are not limited to environmental obligations, litigation, regulatory investigations and proceedings, product quality, and gains or losses resulting from other events and developments. Liabilities for loss contingencies are accrued in the amount of the Company's best estimate for the ultimate loss when a loss is considered probable of having been incurred and is reasonably estimable. When there appears to be a range of possible costs with equal likelihood, liabilities are based on the low-end of such range. Disclosure is provided for material loss contingencies when a loss is probable but a reasonable estimate cannot be made, and when it is reasonably possible that a loss will be incurred or the amount of a loss will exceed the recorded provision. The Company regularly reviews contingencies to determine whether the likelihood of loss has changed and to assess whether a reasonable estimate of the loss or range of loss can be made. Contingencies that might result in gains are generally not accrued until the contingencies are resolved and the gain is realized or realizable. Refer to Note 12 for further disclosure. 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 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 measuring the warrants (refer to the above disclosure), when disclosing the fair value of its long-term debt not recorded at fair value (see Note 6), and to its pension and postretirement plan assets (see Note 9). Supplemental Cash Flow Information For the six months ended September 30, 2024 and 2023 the Company paid $ 9,070 and $ 1,699 , respectively f or income taxes, net of income tax refunds received.

Divested Operations and Assets

Divested Operations and Assets Held For Sale	6 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divested Operations and Assets Held For Sale	3. DIVESTED OPERATIONS AND ASSETS HELD FOR SALE Fiscal 2024 Divestiture and Discontinued Operations In December 2023, the Company’s Board of Directors committed to a plan, and the Company entered into a definitive agreement with AAR, to sell Product Support for cash proceeds of $ 725,000 subject to adjustments related to the closing balance sheet and certain transaction expenses. This transaction closed on March 1, 2024, and the Company recognized a gain of approximately $ 548,250 , net of transaction costs and certain other purchase price adjustments. In July 2024, the Company finalized certain purchase price adjustments principally related to the transferred working capital of the divested operations and recognized a gain of approximately $ 5,018 in the six months ended September 30, 2024. The gain is included within discontinued operations on the accompanying condensed consolidated statement of operations. Product Support companies provided aftermarket maintenance, repair, and overhaul solutions for commercial, regional and military aircraft. As a result of this transaction, effective in the third quarter of fiscal 2024, we classified our results of operations for all periods presented to reflect Product Support as discontinued operations. Under the terms of the purchase agreement, we will continue to guarantee the performance of certain of the divested legal entities pursuant to pre-existing performance guarantee agreements covering existing contracts with specific customers that are expected to be fully satisfied within the next twelve months. There is no limitation to the maximum potential future liabilities under these guarantee agreements; however, we are fully indemnified by the buyer, AAR, against such losses that may arise from their failure to perform under the related contracts. The Company has also indemnified the buyer for a period of three years from the date of the transaction on product liability or warranty claims related to Product Support products and operations prior to the transaction date to the extent such claims exceed an aggregate amount of $ 1,000 . Other than these guarantees, a short-term transition services agreement, commercial purchases and sales which are not significant and are entered into in the ordinary course of business, and other customary short-term transitional activities, the Company will have no further continuing involvement with Product Support. The following table shows the results of Product Support within discontinued operations for the three and six months ended September 30, 2023. Income from discontinued operations in the six months ended September 30, 2024 pertains to the purchase price adjustments described above. Three Months Ended Six Months Ended September 30, 2023 September 30, 2023 Major line items constituting pretax income of discontinued operations Net sales $ 69,383 $ 132,705 Operating costs and expenses: Cost of sales (exclusive of depreciation shown separately below) 51,527 98,357 Selling, general and administrative 5,341 10,498 Depreciation and amortization 728 1,481 57,596 110,336 Operating income 11,787 22,369 Interest expense and other, net 6,051 12,598 Income from discontinued operations before income taxes 5,736 9,771 Income tax expense 723 1,213 Income from discontinued operations $ 5,013 $ 8,558 The Company's accounting policy to allocate to discontinued operations other consolidated interest that is not directly attributable to or related to other operations of the entity based on the ratio of net assets to be sold or discontinued less debt that is required to be paid as a result of the disposal transaction to the sum of total net assets of the consolidated group plus consolidated debt, adjusted for debt that will be assumed by the buyer; debt that is required to be paid as a result of the disposal transaction; and debt that can be directly attributed to other operations of the entity. In applying the above policy, the Company allocated interest expense to discontinued operations of approximately $ 5,714 and $ 11,984 in the three and six months ended September 30, 2023, respectively . The accompanying condensed consolidated statements of cash flows do not present cash flows from discontinued operations separately from cash flows from continuing operations. Capital expenditures and other operating and investing noncash items of the discontinued operations for the six months ended September 30, 2023 were immaterial. Fiscal 2023 Divestitures In January 2022, the Company’s Board of Directors committed to a plan to sell its manufacturing operations located in Stuart, Florida. In February 2022, the Company entered into a definitive agreement with the buyer of these manufacturing operations. This transaction closed in July 2022. The Company recognized a gain of approximately $ 96,800 , net of transaction costs in fiscal year 2023. In the year ended March 31, 2024, the Company paid $ 6,800 to the buyer of the Stuart manufacturing operations and recognized a loss of approximately $ 3,900 due to the resolution of claims by the buyer related to the accounts payable representation and warranty under the purchase agreement and the finalization of certain purchase price adjustments related to the transferred working capital of the divested operations. Additionally, in the year ended March 31, 2024, the Company recognized a loss on sale of approximately $ 8,300 related to an adjustment that would have reduced the fiscal 2023 gain on sale. Other claims for indemnification with the Buyer of the Stuart facility (refer to Note 12) remain outstanding. The operating results of the Stuart, Florida, manufacturing operations are included within the Interiors reportable segment through the date of divestiture.

Revenue Recognition and Contrac

Revenue Recognition and Contracts with Customers	6 Months Ended
	Sep. 30, 2024
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 on 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. 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, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 Systems & Support Satisfied over time $ 69,590 $ 77,874 $ 141,897 $ 157,670 Satisfied at a point in time 179,742 170,921 358,824 317,803 Revenue from contracts with customers 249,332 248,795 500,721 475,473 Amortization of acquired contract liabilities 622 590 1,213 1,165 Total Systems & Support revenue 249,954 249,385 501,934 476,638 Interiors Satisfied over time $ 29,698 $ 29,716 $ 53,209 $ 60,645 Satisfied at a point in time 7,843 5,577 13,368 11,218 Revenue from contracts with customers 37,541 35,293 66,577 71,863 Total Interiors revenue 37,541 35,293 66,577 71,863 Total revenue $ 287,495 $ 284,678 $ 568,511 $ 548,501 The following table shows disaggregated net sales by end market (excluding intercompany sales) for the three and six months ended September 30, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 Systems & Support OEM Commercial $ 82,799 $ 95,493 $ 174,293 $ 176,937 OEM Military 64,045 61,058 125,820 126,854 MRO Commercial 48,932 39,728 97,438 74,204 MRO Military 43,766 43,558 84,899 80,476 Non-aviation 9,790 8,958 18,271 17,002 Revenue from contracts with customers 249,332 248,795 500,721 475,473 Amortization of acquired contract liabilities 622 590 1,213 1,165 Total Systems & Support revenue $ 249,954 $ 249,385 $ 501,934 476,638 Interiors OEM Commercial $ 36,144 $ 35,082 $ 63,337 70,740 MRO Commercial 1,219 — 2,889 704 Non-aviation 178 211 351 419 Revenue from contracts with customers 37,541 35,293 66,577 71,863 Total Interiors revenue 37,541 35,293 66,577 71,863 Total revenue $ 287,495 $ 284,678 $ 568,511 548,501 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, 2024 and 2023, 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. When contract 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 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. For such contracts, the effect of a contract modification on the transaction price and the Company's measure of progress for the performance obligations is recognized as an adjustment to revenue (either as an increase in or a reduction of revenue) on a cumulative catch-up basis. When contract modifications do not include additional performance obligations but the remaining goods and services are distinct from those already provided, the Company treats the modification as the termination of the existing contract and the creation of a new contract, and the total remaining transaction price is allocated to the remaining performance obligations using the relative stand-alone selling price as of the date of the modification and is 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 the Company's contract assets and liabilities balances: September 30, 2024 March 31, 2024 Change Contract assets $ 84,719 $ 74,289 $ 10,430 Contract liabilities ( 57,555 ) ( 65,358 ) 7,803 Net contract asset $ 27,164 $ 8,931 $ 18,233 The change in contract assets is the result of revenue recognized in excess of amounts billed during the six months ended September 30, 2024. The change in contract liabilities is the result of revenue recognized in excess of receipt of additional customer advances during the six months ended September 30, 2024. For the six months ended September 30, 2024, the Company recognized $ 20,459 of revenue that was included in the contract liability balance at the beginning of the period. 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. A single contract may contain multiple performance obligations consisting of both recurring and nonrecurring elements. As of September 30, 2024, 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 - 3 years 4 - 5 years More than 5 Unsatisfied performance obligations $ 1,617,322 $ 1,021,243 $ 569,662 $ 25,876 $ 541

Inventories

Inventories	6 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Inventories	5. INVENTORIES Inventories are carried at the lower of cost (average-cost or specific-identification methods) or net realizable value. The Company expenses general and administrative costs related to products and services provided under commercial terms and conditions as incurred. The Company determines the cost of inventory sold by the first-in, first-out or average cost methods. The components of inventories are as follows: September 30, March 31, 2024 2024 Raw materials $ 38,157 $ 25,224 Work-in-process, including manufactured and purchased components 339,206 277,471 Finished goods 16,461 14,976 Total inventories $ 393,824 $ 317,671

Long-term Debt

Long-term Debt	6 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	6. LONG-TERM DEBT Long-term debt consists of the following: September 30, March 31, 2024 2024 Finance leases $ 17,916 $ 14,008 Senior secured first lien notes due 2028 958,890 1,078,890 Other notes 1,823 1,900 Less: debt issuance costs ( 12,883 ) ( 16,599 ) 965,746 1,078,199 Less: current portion 8,126 3,200 $ 957,620 $ 1,074,999 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 Bloomberg Short Term Bank Yield Index ("BSBY"), plus a 2.25 % fee on the drawn portion and a fee ranging from 0.45 % to 0.50 % on the undrawn portion of the Securitization Facility. The drawn fee may be reduced to 2.00 % depending on the credit rating of the Company. Collateralized letters of credit incur fees at a rate of 0.125 %. 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, 2024 , the maximum amount available under the Securitization Facility was $ 75,000 . 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, 2024, there were $ 0 in borrowings and $ 20,804 in letters of credit outstanding under the Securitization Facility, primarily to support insurance policies. In October 2024, the Company drew $ 20,000 in borrowings under the Securitization Facility. The Securitization Facility expires in December 2025. 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 2028 On March 14, 2023, the Company issued $ 1,200,000 principal amount of 9.000 % Senior Secured First Lien Notes due March 15, 2028, pursuant to an indenture among the Company, the Guarantor Subsidiaries, and U.S. Bank National Association, as trustee (the “2028 First Lien Notes”). The 2028 First Lien Notes were sold at 100 % of the principal amount and have an effective interest yield of 9.000 %. Interest is payable semi-annually in cash in arrears on March 15 and September 15 of each year , commencing on September 15, 2023. In the six months ended September 30, 2023, the Company recognized a gain of approximately $ 3,400 related to an adjustment to its deferred debt issuance costs, a portion of which related to fiscal 2023. The total issuance costs incurred i n connection with the issuance of the 2028 First Lien Notes were approximately $ 23,000 , which were deferred and are being amortized over the term of the 2028 First Lien Notes. The 2028 First Lien Notes and the guarantees are first lien secured obligations of the Company and the Guarantor Subsidiaries. The 2028 First Lien Notes: (i) rank equally in right of payment to any future senior indebtedness of the Company and Guarantor Subsidiaries; (ii) are effectively senior to all future second lien obligations and all future unsecured indebtedness of the Company and the Guarantor Subsidiaries, but only to the extent of the value of the Collateral (as defined below), and after giving effect to any permitted additional first lien secured obligations and other permitted liens of senior or equal priority); (iii) are senior in right of payment to all future subordinated indebtedness of the Company and the Guarantor Subsidiaries; (iv) are secured by the Collateral on a pari passu basis with any future permitted additional first lien secured obligations, subject to the Collateral Trust Agreement; (v) are effectively subordinated to any existing and future obligations of the Company and the Guarantor Subsidiaries that are secured by assets that do not constitute the Collateral, in each case, to the extent of the value of the assets securing such obligations; and (vi) are structurally subordinated to all existing and future indebtedness and other liabilities of the Company’s existing and future subsidiaries that do not guarantee the 2028 First Lien Notes, including the Securitization Facility. The 2028 First Lien Notes are guaranteed on a full, senior, joint and several basis by each of 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 2028 First Lien Notes. Under certain circumstances, the guarantees may be released without action by, or consent of, the holders of the 2028 First Lien Notes. The 2028 First Lien Notes and the guarantees are secured, subject to permitted liens, by first-priority liens on substantially all of the Company’s and the Guarantor Subsidiaries’ assets (including certain of the Company’s real estate assets), whether now owned or hereafter acquired, other than certain excluded property, which liens will secure permitted additional first lien obligations on a pari passu basis, subject to the Collateral Trust Agreement (the “Collateral”). Under certain circumstances, the Collateral may be released without action by, or the consent of, the holders of the 2028 First Lien Notes. The 2028 First Lien Notes and the guarantees will not be secured by the assets of Non-Guarantor Subsidiaries, which include the unrestricted subsidiaries to whom certain of the Company’s accounts receivables are and may in the future be sold to support borrowing under the Securitization Facility. A collateral trust agreement (the “Collateral Trust Agreement”) among the Company, the Guarantor Subsidiaries, the Collateral Trustee and U.S. Bank National Association, in its capacity as the trustee for the 2028 First Lien Notes, sets forth therein the relative rights with respect to the Collateral as among the trustee for the 2028 First Lien Notes and certain subsequent holders of first lien obligations and covering certain other matters relating to the administration of security interests. The Collateral Trust Agreement generally controls substantially all matters related to the Collateral, including with respect to decisions, distribution of proceeds or enforcement. Pursuant to the Collateral Trust Agreement, on the issue date of the 2028 First Lien Notes the Collateral Trustee will control certain matters related to the Collateral that the Collateral Trust Agreement specifies are in its discretion. If the Company incurs certain types of additional first lien obligations, the Controlling First Lien Holders (as defined in the Collateral Trust Agreement) will have the right to control decisions relating to the Collateral that are outside the Collateral Trustee’s discretion under the Collateral Trust Agreement and the 2028 Note holders may no longer be in control of such decisions. The Company may redeem the 2028 First Lien Notes, in whole or in part, at any time or from time to time on or after March 15, 2025, 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 March 15, 2025, the Company may redeem the 2028 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 2028 First Lien Notes prior to March 15, 2025, with the net cash proceeds from certain equity offerings at a redemption price equal to 109.000 % 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 2028 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 2028 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 2028 First Lien Notes Indenture requires, among other things, the Company to provide financial and current reports to holders of the 2028 First Lien Notes or file such reports electronically with the SEC. 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. In March 2024, using approximately $ 129,827 of the proceeds from the sale of Product Support, the Company redeemed $ 120,000 principal amount of 2028 First Lien Notes at a purchase price of 103 % of the aggregate principal amount, plus accrued and unpaid interest and repurchased in an asset sale tender offer $ 1,110 principal amount of 2028 First Lien Notes at a purchase price of 100% of the aggregate principal amount, plus accrued and unpaid interest. This redemption resulted in a debt extinguishment loss of approximately $ 5,463 in the year ended March 31, 2024. In May 2024, the Company redeemed an additional $ 120,000 of its 2028 First Lien Notes at a redemption price equal to 103 % of the principal amount redeemed plus accrued and unpaid interest to, but not including, the redemption date. This redemption resulted in a debt extinguishment loss of approximately $ 5,369 in the six months ended September 30, 2024. 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". In the year ended March 31, 2024 , approximately $ 13,404 in principal amount of the 2025 Notes were used to pay the exercise price for approximately 0.9 million Warrants. In August 2023, the Company executed a 10b5-1 repurchase plan agreement with a third-party (the "Agent") granting the Agent the authority to repurchase on the open market up to $ 50,000 in principal amount of the 2025 Notes, subject to specific conditions, including daily volume and market prices. Pursuant to this agreement, i n the year ended March 31, 2024 , the Company used approximately $ 48,062 to redeem $ 50,000 principal amount of the 2025 Notes. In March 2024, using approximately $ 437,590 of the proceeds from the sale of Product Support, the Company redeemed the remaining outstanding $ 435,621 principal amount of 2025 Notes plus accrued and unpaid interest. The extinguishment gains on these transactions totaled approximately $ 500 in the year ended March 31, 2024. 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 accompanying condensed consolidated financial statements are as follows: September 30, 2024 March 31, 2024 Carrying Fair Carrying Fair $ 965,746 $ 1,027,437 $ 1,078,199 $ 1,154,245 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 the Company's existing debt (Level 2 inputs). Interest paid on indebtedness during the six months ended September 30, 2024 and 2023, amounted to $ 46,391 and $ 74,218 , respectively.

Earnings (Loss) per Share

Earnings (Loss) per Share	6 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) per Share	7. EARNINGS (LOSS) PER SHARE The calculation of basic earnings per share is based on income (loss) from continuing operations, income from discontinued operations, or net income (loss) divided by the weighted average number of common shares considered outstanding during the periods. The calculation of diluted earnings per share reflects the effect of all potentially dilutive securities (principally outstanding restricted stock units and, in prior year periods, outstanding warrants) and is based on income (loss) from continuing operations, income from discontinued operations, or net income (loss) divided by the diluted weighted average number of common shares considered outstanding during the periods. The Company applies the treasury stock method when calculating 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) 2024 2023 2024 2023 Weighted average common shares outstanding - basic 77,343 76,447 77,252 71,368 Dilutive potential common shares 375 — — — Weighted average common shares outstanding - diluted 77,718 76,447 77,252 71,368 (1) For the six months ended September 30, 2024, approximately 1,983 shares associated with outstanding restricted stock unit awards were excluded from the computation of diluted earnings per share as the resulting incremental shares would have been anti-dilutive due to the loss from continuing operations in the period. For the three and six months ended September 30, 2023, approximately 2,204 shares, associated with outstanding restricted stock unit awards were excluded from the computation of diluted earnings per share as the resulting incremental shares would have been anti-dilutive due to the loss from continuing operations in each period.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2024
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, 2024 and March 31, 2024 , the total amount of unrecognized tax benefits was $ 12,453 and $ 12,281 , 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, 2024, 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 this allowance. 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 2025 and future periods. The effective income tax rate for the three months ended September 30, 2024 was ( 30.5 )% as compared with ( 19.3 )% for the three months ended September 30, 2023. The effective income tax rate for the six months ended September 30, 2024, was 15.6 % as compared with ( 8.9 )% for the six months ended September 30, 2023. 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, 2014. 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, 2024
Retirement Benefits [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 applicable government regulations, by making payments into a separate trust. The Company has in the past contributed and may in the future contribute shares of its common stock to this separate trust which would reduce cash contributions required by the Company. In addition to the defined benefit pension plans, the Company provides other postretirement benefits ("OPEB") in the form of 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. 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 the Company's evaluation of data from fund managers and comparable market data or using the net asset value as a practical expedient. Net Periodic Benefit Plan Costs The components of net periodic benefit expense for the Company's postretirement benefit plans are shown in the following table: Pension Benefits Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Components of net periodic benefit income: Service cost $ 43 $ 100 $ 85 $ 200 Interest cost 19,687 $ 20,117 39,375 40,234 Expected return on plan assets ( 24,706 ) $ ( 26,252 ) ( 49,413 ) ( 52,504 ) Amortization of prior service credits 26 $ 26 51 51 Amortization of net loss 8,287 $ 7,523 16,575 15,046 Net periodic benefit expense $ 3,337 $ 1,514 $ 6,673 $ 3,027 The Company recognized net periodic benefit income from its other postretirement benefits plan of approximately $ 4,522 and $ 4,467 for the six months ended September 30, 2024 and 2023, respectively.

Stockholders' Deficit

Stockholders' Deficit	6 Months Ended
	Sep. 30, 2024
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, 2024 and 2023 were as follows: Currency Unrealized Gains Defined Benefit Total (1) June 30, 2024 $ ( 50,525 ) $ ( 1,545 ) $ ( 467,066 ) $ ( 519,136 ) Other comprehensive loss before reclassifications 3,309 ( 959 ) — 2,350 Amounts reclassified from AOCI — 875 5,924 (2) 6,799 Net current period OCI 3,309 ( 84 ) 5,924 9,149 September 30, 2024 $ ( 47,216 ) $ ( 1,629 ) $ ( 461,142 ) $ ( 509,987 ) June 30, 2023 $ ( 45,502 ) $ 880 $ ( 501,484 ) $ ( 546,106 ) Other comprehensive income (loss) before reclassifications ( 5,160 ) ( 13 ) — ( 5,173 ) Amounts reclassified from AOCI — ( 845 ) 5,173 (2) 4,328 Net current period OCI ( 5,160 ) ( 858 ) 5,173 ( 845 ) September 30, 2023 $ ( 50,662 ) $ 22 $ ( 496,311 ) $ ( 546,951 ) March 31, 2024 $ ( 44,149 ) $ 69 $ ( 472,989 ) $ ( 517,069 ) Other comprehensive (loss) income before reclassifications ( 3,067 ) ( 2,604 ) — ( 5,671 ) Amounts reclassified from AOCI — 906 11,847 (2) 12,753 Net current period OCI ( 3,067 ) ( 1,698 ) 11,847 7,082 September 30, 2024 $ ( 47,216 ) $ ( 1,629 ) $ ( 461,142 ) $ ( 509,987 ) March 31, 2023 $ ( 49,206 ) $ 1,217 $ ( 506,657 ) $ ( 554,646 ) Other comprehensive income before reclassifications ( 1,456 ) 566 — ( 890 ) Amounts reclassified from AOCI — ( 1,761 ) 10,346 (2) 8,585 Net current period OCI ( 1,456 ) ( 1,195 ) 10,346 7,695 September 30, 2023 $ ( 50,662 ) $ 22 $ ( 496,311 ) $ ( 546,951 ) (1) Net of tax . (2) Includes amortization of actuarial losses and recognized prior service costs, which are included in net periodic benefit income. Refer to Note 9 for additional disclosure regarding the Company's postretirement benefit plans.

Segments

Segments	6 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Segments	11. SEGMENTS The Company reports financial performance based on the following two reportable segments: Systems & Support and Interiors. 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. Financial information for Systems & Support differs from information reported in prior periods as this reportable segment no longer includes the results of operations of Product Support which have been reclassified for all periods as discontinued operations. 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, 2024 Total Discontinued Operations Corporate & Systems & Interiors Net sales to external customers $ 287,495 $ — $ — $ 249,954 $ 37,541 Intersegment sales (eliminated in consolidation) — — ( 3 ) — 3 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 56,714 — — 54,823 1,891 Reconciliation of segment profit to income before income taxes Depreciation and amortization ( 7,487 ) — ( 578 ) ( 6,385 ) ( 524 ) Interest expense and other, net ( 21,869 ) Corporate expenses ( 14,071 ) Share-based compensation expense ( 3,350 ) Amortization of acquired contract liabilities 622 Non-service defined benefit expense ( 1,468 ) Income from continuing operations before income taxes $ 9,091 Total capital expenditures $ 6,286 $ — $ 558 $ 5,624 $ 104 Total assets $ 1,511,465 $ — $ 85,680 $ 1,309,907 $ 115,878 Three Months Ended September 30, 2023 Total Discontinued Operations Corporate & Systems & Interiors Net sales to external customers $ 284,678 $ — $ — $ 249,385 $ 35,293 Intersegment sales (eliminated in consolidation) — — ( 411 ) 411 — Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 45,783 — — 48,487 ( 2,704 ) Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 7,314 ) — ( 445 ) ( 6,225 ) ( 644 ) Interest expense and other, net ( 29,833 ) Corporate expenses ( 11,915 ) Share-based compensation expense ( 3,724 ) Gain on sale of assets and businesses 409 Amortization of acquired contract liabilities 590 Non-service defined benefit income 820 Legal contingencies loss ( 1,338 ) Debt modification and extinguishment gain 688 Warrant remeasurement gain, net 544 Loss from continuing operations before income taxes $ ( 5,290 ) Total capital expenditures $ 4,627 $ 465 $ 105 $ 3,506 $ 551 Six Months Ended September 30, 2024 Total Discontinued Operations Corporate & Systems & Interiors Net sales to external customers $ 568,511 $ — $ — $ 501,934 $ 66,577 Intersegment sales (eliminated in consolidation) — — ( 19 ) 8 11 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 96,834 — — 102,220 ( 5,386 ) Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 14,854 ) — ( 990 ) ( 12,764 ) ( 1,100 ) Interest expense and other, net ( 40,853 ) Corporate expenses ( 28,822 ) Share-based compensation expense ( 6,365 ) Amortization of acquired contract liabilities 1,213 Non-service defined benefit loss ( 2,501 ) Legal contingencies loss ( 7,464 ) Debt extinguishment loss ( 5,369 ) Loss from continuing operations before income taxes $ ( 8,181 ) Total capital expenditures $ 14,458 $ — $ 656 $ 13,346 $ 456 Six Months Ended September 30, 2023 Total Discontinued Operations Corporate & Systems & Interiors Net sales to external customers $ 548,501 $ — $ — $ 476,638 $ 71,863 Intersegment sales (eliminated in consolidation) — — ( 503 ) 490 13 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 84,704 — — 89,301 ( 4,597 ) Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 14,679 ) — ( 940 ) ( 12,412 ) ( 1,327 ) Interest expense and other, net ( 61,935 ) Corporate expenses ( 28,365 ) Share-based compensation expense ( 7,346 ) Loss on sale of assets and businesses ( 12,208 ) Amortization of acquired contract liabilities 1,165 Non-service defined benefit income 1,640 Legal contingencies loss ( 1,338 ) Debt modification and extinguishment gain 4,079 Warrant remeasurement gain, net 8,545 Loss from continuing operations before income taxes $ ( 25,738 ) Total capital expenditures $ 11,028 $ 824 $ 1,937 $ 7,208 $ 1,059

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2024
Commitments And Contingencies [Abstract]
Commitments and Contingencies	12. COMMITMENTS AND CONTINGENCIES Environmental Matters Certain of the Company's current or former operations and facilities are subject to a number of federal, state, local and foreign environmental laws and regulations. In July 2024, a panel of three arbitrators made a decision in an arbitration between Triumph Aerostructures, LLC (“TAS”), a wholly owned subsidiary of the Company, and Northrop Grumman Systems Corporation (“Northrop”) related to responsibility for environmental remediation costs at certain formerly occupied properties that had been previously operated by Northrop. The decision indicated that TAS would be liable to reimburse Northrop for remediation costs incurred at the properties through September 2023 in the amount of approximately $ 11,500 . The decision also indicated that TAS would be responsible for reimbursing Northrop for remediation costs at two of the facilities incurred subsequent to September 2023. Such incremental remediation costs for the period from September 2023 to June 30, 2024 are estimated to be approximately $ 2,000 , and estimated incremental remediation costs for the three months ended September 30, 2024, are immaterial. Accordingly, TAS has accrued a total of approximately $ 13,464 following the decision, of which $ 7,464 was recognized in the six months ended September 30, 2024, and is presented within legal contingencies loss on the Company’s condensed consolidated statement of operations. The Company estimates that total future remediation costs reimbursable to Northrop could be up to approximately $ 38,000 , and result in annual cash expenditures not likely to exceed $ 2,000 to $ 3,000 per year. In addition, TAS is a party to the environmental remediation regulatory order at one of the properties. Therefore, in accordance with ASC 410-30, Environmental obligations, the Company has accrued approximately $ 1,300 as management's best estimate of the total future remediation costs at this property. TAS intends to continue to vigorously defend itself in this matter and has filed a motion to seek to set aside the adverse decision from the arbitration panel. Commercial Disputes and Litigation Throughout the course of the Company’s programs, disputes with suppliers or customers have arisen and could arise in the future regarding unique contractual requirements, quality, costs or impacts to production schedules. If the Company is unable to successfully and equitably resolve such claims and assertions, its business, financial condition, results of operations, customer relationships and related transactions could be materially adversely affected. 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 commercial dispute, 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. Divestitures, Disposals, Guarantees, and Indemnifications As disclosed in Note 3, we have engaged in a number of divestitures. In connection with divestitures and related transactions, the Company from time to time has indemnified and has been indemnified by third parties against certain liabilities that may arise in connection with, among other things, business activities prior to the completion of the respective transactions. The term of these indemnifications, which typically pertain to environmental, tax and product liabilities, is generally indefinite. As of September 30, 2024, no indemnification assets or liabilities have been recorded. As it relates to certain divestitures, disputes have arisen or may continue to arise between the Company and the acquirer subsequent to the completion and closing of the divestiture transaction. Such disputes have included or may include amounts payable to or from the buyer for closing working capital adjustments to the purchase price as well as claims regarding alleged violations of contractual terms, representations, and warranties of the sale agreements, among other matters. The outcome of such disputes typically involve negotiations between the Company and the acquirer, but could also lead to litigation between the parties, including as disclosed further below, and the ultimate claims made by the parties against each other could be material. The Company has received notification of claims which allege certain bases for indemnification and damages relating to certain divestitures. The relevant agreements generally contain limits on certain damages that may be payable under the relevant agreements. For example, the divestiture agreement relating to the sale of the Red Oak facility specified that representations and warranties insurance would be the sole and exclusive remedy for breach of representations and warranties except in the case of fraud. By way of further example, the divestiture agreement relating to the sale of the Stuart facility contains an $ 18,750 general cap on breaches of representations (other than certain specified representations) and a $ 25,000 cap on breaches of certain specified representations related to contracts and product warranties, in each case absent certain circumstances, including fraud or breaches of fundamental or tax representations. As disclosed in Note 3, on June 16, 2023, the Company entered into a settlement agreement with the buyer of the Stuart facility resolving a working capital dispute with the buyer resulting in an amount of $ 2,400 payable to the Company and resolving claims by the buyer related to the accounts payable representation and warranty under the purchase agreement resulting in an amount of $ 9,200 payable to the buyer, with such amount applicable to the general cap referred to above. The amounts were settled on a net basis by the Company paying $ 6,800 to the buyer. The purchaser of the Stuart facility also commenced litigation against the Company on December 12, 2023, seeking additional indemnification for damages claimed to be approximately $ 130,000 for losses allegedly arising from the knowing breach of certain representations and warranties regarding the financial condition of TAS and the products manufactured by TAS and alleged failures to disclose known and widespread paint issues and certain supplier and production issues at the facility prior to the closing. While the Company cannot predict the outcome of any pending or future divestiture related litigation, proceeding, or claim and no assurances can be given, the Company intends to vigorously defend claims brought against it and does not believe that this matter or others will have a material effect on its financial position or results of operations. If the Company is unable to successfully and equitably resolve such claims and assertions, its business, financial condition, and results of operations could be materially adversely affected. Additionally, in connection with certain divestitures, the Company has obtained customer consent to assign specified long-term contracts to the acquirer of the divested business by entering into consent-to-assignment agreements among the customer, the acquirer, and the Company. Pursuant to certain of these agreements, the Company remains a guarantor pursuant to guarantee agreements with the customer that predate the divestiture transaction. The term of these obligations typically covers a period of 2 to 5 years from the date of divestiture. There is no limitation to the maximum potential future liabilities under these contracts; however, the Company typically has a right to indemnification from acquirers against such losses that may arise from the acquirers’ failure to perform under the assigned contracts. On June 13, 2024, Boeing submitted correspondence to the Company asserting that under the terms of a guarantee agreement between Boeing and the Company (the “Guarantee Agreement”), the Company would be responsible for damages that Boeing may suffer from any production disruption caused by Qarbon Aerospace, LLC (“Qarbon”), the acquirer of the Company’s Red Oak facility, on the T7-A program, which is the subject of ongoing litigation between the Company and Qarbon. Boeing has provided certain details regarding its contractual dispute with Qarbon, but has not alleged any damages incurred. As of September 30, 2024, no related indemnification assets or liabilities or guarantee liabilities have been recorded. The Company intends to vigorously defend itself against any assertion that Boeing is entitled to damages from the Company under the Guarantee Agreement, but the Company has concluded that a loss is reasonably possible. At this time, based on the early stage of this matter, the Company is unable to reasonably estimate the amount of any damages that Boeing has incurred or may claim. Separately, pursuant to the terms of the purchase agreement providing for Qarbon’s acquisition of the Red Oak facility, the Company is entitled to indemnification from Qarbon. Also, in connection with certain divestitures, the Company has assigned lease facility agreements to the acquirers and entered into guarantee agreements with respect to the lease agreement in the event of non-performance under the lease by the assignee. The Company typically has a right to indemnification from the assignee or other third party to the transaction. On May 2, 2023, the Company received a letter from a lessor associated with one such transaction to assert the lessor’s rights against the Company as guarantor. The lease payment associated with the lease is approximately $ 130 per month over a lease term ending December 31, 2031, although the landlord may be barred from recovery due to its acceptance of the lessee's surrender of the premises. The Company currently estimates that a reasonably possible loss, if any, would be recoverable through indemnification and be immaterial. In the year ended March 31, 2023, the Company withdrew from the IAM National Pension Fund (the “Fund), which is a multiemployer pension plan to which the Company previously contributed on behalf of certain of its represented employees. Such withdrawal occurred as part of the Company’s exit of its Spokane, Washington, composites manufacturing operations. In April 2023, the Company received a letter from the Fund confirming the Company’s complete withdrawal from the Fund and indicating that the Company’s portion of the unfunded vested benefits (the “Withdrawal Liability”) was estimated to be approximately $ 14,644 , payable in quarterly installments of approximately $ 400 over a period of approximately thirteen years. As of September 30, 2024, the Company's liability for this obligation is included on the accompanying condensed consolidated balance sheet is approximately $ 13,528 , representing its estimate of the remaining obligation before interest based on the letter received from the Fund. The Company has issued a formal challenge through arbitration on the issue of the interest rate used by the Fund when determining the Withdrawal Liability, and it is possible the Withdrawal Liability could be reduced during that process.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
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 generally do not represent material rights granted to customers. The Company generally enters into agreements directly with its customers and is the principal in substantially 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, claims (when a legal basis exists), 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 that the Company has determined that it is probable that a significant reversal of cumulative revenue recognized for the contract will not occur when the uncertainty associated with the variable consideration is resolved, and any excess variable consideration above such included amount is considered constrained. Consideration paid or payable to a customer is reflected as a reduction in net revenues when the amounts paid are not related to a distinct good or service at the later of when the related revenue is recognized or when the Company pays or promises to pay the consideration to the customer. 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. 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 and asset utilization. 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; however, actual results could differ materially from those estimates. 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. The Company updates the estimated transaction price, including its assessment of whether an estimate of variable consideration is constrained, at the end of each reporting period to represent faithfully the circumstances present at the end of the reporting period and the changes in circumstances during the reporting period. Any portion of the change in transaction price that is allocated to satisfied and partially satisfied (when control transfers over time) performance obligations is recognized as revenue in the period of the transaction price change as a cumulative catch-up adjustment. Differences in the timing of revenue recognition and contractual billing and payment terms result in the recognition of contract assets and liabilities. Refer to Note 4 for further discussion.
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 18 % and 14 % of total trade accounts receivable as of September 30, 2024 and March 31, 2024, respectively. Sales to Boeing for the six months ended September 30, 2024 were $ 128,129 , or 22.5 % of net sales, of which $ 83,612 and $ 44,517 were from Systems & Support and Interiors, respectively. Sales to Boeing for the six months ended September 30, 2023, were $ 133,252 , or 24.3 % of net sales, of which $ 86,927 and $ 46,325 were from Systems & Support and Interiors, 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.
Warrants	Warrants On December 1, 2022, the Company’s board of directors declared a distribution to holders of the Company’s shares of common stock in the form of warrants to purchase shares of common stock (the “Warrants”). Holders of common stock received three Warrants for every ten shares of common stock held as of December 12, 2022 (the "Record Date"). The Company issued approximately 19.5 million Warrants on December 19, 2022, to holders of record of common stock as of the close of business on the Record Date. Each Warrant represented the right to purchase initially one share of common stock, at an exercise price of $ 12.35 per Warrant, subject to certain anti-dilution adjustments. Payment for shares of common stock on exercise of Warrants could have been made in (i) cash or (ii) under certain circumstances, certain of the Company's outstanding notes (the "Designated Notes"). The common stock warrants were accounted for as derivative liabilities in accordance with ASC 815-40 and included within accrued liabilities on the accompanying condensed consolidated balance sheets. The Company measured the Warrants at fair value as of the issuance date using a Monte Carlo pricing model, a Level 3 fair value measurement (as described below), due to the level of market activity. Inherent in the option pricing simulation are assumptions related to expected stock-price volatility, expected life and risk-free interest rate. The Company estimated the volatility of the Warrants based on implied and historical volatility of the Company’s common stock. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the grant date for a maturity similar to the expected remaining life of the Warrants. The expected life of the Warrants was based on the Company’s ability to redeem the Warrants, subject to a 20 calendar-day notice period, as well as the automatic acceleration of the Expiration Date following the Price Condition Date. During the three months ended December 31, 2022, due to increased trading volume, the Company began remeasuring outstanding Warrants using the Warrants trading price, a Level 1 fair value measurement (as described below). The Warrants were remeasured at each balance sheet date. Warrants remeasurement adjustments were recognized in warrant remeasurement gain, net on the accompanying condensed consolidated statements of operations. At distribution, the fair value of the Warrants was $ 19,500 . Approximately 7.7 million Warrants were exercised in the year ended March 31, 2024, resulting in total cash proceeds, net of transaction costs, of approximately $ 79,961 and $ 8,532 of warrants remeasurement gain was recognized in the six months ended September 30, 2023 . On July 6, 2023 , the Company redeemed all of the approximately 11.4 million remaining outstanding Warrants for a total redemption price of approximately $ 11 pursuant to its June 16, 2023, notice of redemption.
Contingencies	Contingencies Contingencies are existing conditions, situations or circumstances involving uncertainty as to possible gain or loss that will ultimately be resolved when future events occur or fail to occur. Such contingencies include, but are not limited to environmental obligations, litigation, regulatory investigations and proceedings, product quality, and gains or losses resulting from other events and developments. Liabilities for loss contingencies are accrued in the amount of the Company's best estimate for the ultimate loss when a loss is considered probable of having been incurred and is reasonably estimable. When there appears to be a range of possible costs with equal likelihood, liabilities are based on the low-end of such range. Disclosure is provided for material loss contingencies when a loss is probable but a reasonable estimate cannot be made, and when it is reasonably possible that a loss will be incurred or the amount of a loss will exceed the recorded provision. The Company regularly reviews contingencies to determine whether the likelihood of loss has changed and to assess whether a reasonable estimate of the loss or range of loss can be made. Contingencies that might result in gains are generally not accrued until the contingencies are resolved and the gain is realized or realizable. Refer to Note 12 for further disclosure.
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 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 measuring the warrants (refer to the above disclosure), when disclosing the fair value of its long-term debt not recorded at fair value (see Note 6), 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, 2024 and 2023 the Company paid $ 9,070 and $ 1,699 , respectively f or income taxes, net of income tax refunds received.

Divested Operations and Asset_2

Divested Operations and Assets Held For Sale (Tables)	6 Months Ended
	Sep. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Results of Operations and Major Classes of Assets and Liabilities	The following table shows the results of Product Support within discontinued operations for the three and six months ended September 30, 2023. Income from discontinued operations in the six months ended September 30, 2024 pertains to the purchase price adjustments described above. Three Months Ended Six Months Ended September 30, 2023 September 30, 2023 Major line items constituting pretax income of discontinued operations Net sales $ 69,383 $ 132,705 Operating costs and expenses: Cost of sales (exclusive of depreciation shown separately below) 51,527 98,357 Selling, general and administrative 5,341 10,498 Depreciation and amortization 728 1,481 57,596 110,336 Operating income 11,787 22,369 Interest expense and other, net 6,051 12,598 Income from discontinued operations before income taxes 5,736 9,771 Income tax expense 723 1,213 Income from discontinued operations $ 5,013 $ 8,558

Revenue Recognition and Contr_2

Revenue Recognition and Contracts with Customers (Tables)	6 Months Ended
	Sep. 30, 2024
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, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 Systems & Support Satisfied over time $ 69,590 $ 77,874 $ 141,897 $ 157,670 Satisfied at a point in time 179,742 170,921 358,824 317,803 Revenue from contracts with customers 249,332 248,795 500,721 475,473 Amortization of acquired contract liabilities 622 590 1,213 1,165 Total Systems & Support revenue 249,954 249,385 501,934 476,638 Interiors Satisfied over time $ 29,698 $ 29,716 $ 53,209 $ 60,645 Satisfied at a point in time 7,843 5,577 13,368 11,218 Revenue from contracts with customers 37,541 35,293 66,577 71,863 Total Interiors revenue 37,541 35,293 66,577 71,863 Total revenue $ 287,495 $ 284,678 $ 568,511 $ 548,501 The following table shows disaggregated net sales by end market (excluding intercompany sales) for the three and six months ended September 30, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 Systems & Support OEM Commercial $ 82,799 $ 95,493 $ 174,293 $ 176,937 OEM Military 64,045 61,058 125,820 126,854 MRO Commercial 48,932 39,728 97,438 74,204 MRO Military 43,766 43,558 84,899 80,476 Non-aviation 9,790 8,958 18,271 17,002 Revenue from contracts with customers 249,332 248,795 500,721 475,473 Amortization of acquired contract liabilities 622 590 1,213 1,165 Total Systems & Support revenue $ 249,954 $ 249,385 $ 501,934 476,638 Interiors OEM Commercial $ 36,144 $ 35,082 $ 63,337 70,740 MRO Commercial 1,219 — 2,889 704 Non-aviation 178 211 351 419 Revenue from contracts with customers 37,541 35,293 66,577 71,863 Total Interiors revenue 37,541 35,293 66,577 71,863 Total revenue $ 287,495 $ 284,678 $ 568,511 548,501
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 the Company's contract assets and liabilities balances: September 30, 2024 March 31, 2024 Change Contract assets $ 84,719 $ 74,289 $ 10,430 Contract liabilities ( 57,555 ) ( 65,358 ) 7,803 Net contract asset $ 27,164 $ 8,931 $ 18,233
Schedule of Performance Obligations that are Expected to Be Recognized in Future	As of September 30, 2024, 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 - 3 years 4 - 5 years More than 5 Unsatisfied performance obligations $ 1,617,322 $ 1,021,243 $ 569,662 $ 25,876 $ 541

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of components of inventories	The components of inventories are as follows: September 30, March 31, 2024 2024 Raw materials $ 38,157 $ 25,224 Work-in-process, including manufactured and purchased components 339,206 277,471 Finished goods 16,461 14,976 Total inventories $ 393,824 $ 317,671

Long-term Debt (Tables)

Long-term Debt (Tables)	6 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt consists of the following: September 30, March 31, 2024 2024 Finance leases $ 17,916 $ 14,008 Senior secured first lien notes due 2028 958,890 1,078,890 Other notes 1,823 1,900 Less: debt issuance costs ( 12,883 ) ( 16,599 ) 965,746 1,078,199 Less: current portion 8,126 3,200 $ 957,620 $ 1,074,999
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 accompanying condensed consolidated financial statements are as follows: September 30, 2024 March 31, 2024 Carrying Fair Carrying Fair $ 965,746 $ 1,027,437 $ 1,078,199 $ 1,154,245

Earnings (Loss) per Share (Tabl

Earnings (Loss) per Share (Tables)	6 Months Ended
	Sep. 30, 2024
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) 2024 2023 2024 2023 Weighted average common shares outstanding - basic 77,343 76,447 77,252 71,368 Dilutive potential common shares 375 — — — Weighted average common shares outstanding - diluted 77,718 76,447 77,252 71,368 (1) For the six months ended September 30, 2024, approximately 1,983 shares associated with outstanding restricted stock unit awards were excluded from the computation of diluted earnings per share as the resulting incremental shares would have been anti-dilutive due to the loss from continuing operations in the period. For the three and six months ended September 30, 2023, approximately 2,204 shares, associated with outstanding restricted stock unit awards were excluded from the computation of diluted earnings per share as the resulting incremental shares would have been anti-dilutive due to the loss from continuing operations in each period.

Pension and Other Postretirem_2

Pension and Other Postretirement Benefit Plans (Tables)	6 Months Ended
	Sep. 30, 2024
Retirement Benefits [Abstract]
Schedule of Components of Net Periodic Benefit Expense	The components of net periodic benefit expense for the Company's postretirement benefit plans are shown in the following table: Pension Benefits Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Components of net periodic benefit income: Service cost $ 43 $ 100 $ 85 $ 200 Interest cost 19,687 $ 20,117 39,375 40,234 Expected return on plan assets ( 24,706 ) $ ( 26,252 ) ( 49,413 ) ( 52,504 ) Amortization of prior service credits 26 $ 26 51 51 Amortization of net loss 8,287 $ 7,523 16,575 15,046 Net periodic benefit expense $ 3,337 $ 1,514 $ 6,673 $ 3,027

Stockholders' Deficit (Tables)

Stockholders' Deficit (Tables)	6 Months Ended
	Sep. 30, 2024
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, 2024 and 2023 were as follows: Currency Unrealized Gains Defined Benefit Total (1) June 30, 2024 $ ( 50,525 ) $ ( 1,545 ) $ ( 467,066 ) $ ( 519,136 ) Other comprehensive loss before reclassifications 3,309 ( 959 ) — 2,350 Amounts reclassified from AOCI — 875 5,924 (2) 6,799 Net current period OCI 3,309 ( 84 ) 5,924 9,149 September 30, 2024 $ ( 47,216 ) $ ( 1,629 ) $ ( 461,142 ) $ ( 509,987 ) June 30, 2023 $ ( 45,502 ) $ 880 $ ( 501,484 ) $ ( 546,106 ) Other comprehensive income (loss) before reclassifications ( 5,160 ) ( 13 ) — ( 5,173 ) Amounts reclassified from AOCI — ( 845 ) 5,173 (2) 4,328 Net current period OCI ( 5,160 ) ( 858 ) 5,173 ( 845 ) September 30, 2023 $ ( 50,662 ) $ 22 $ ( 496,311 ) $ ( 546,951 ) March 31, 2024 $ ( 44,149 ) $ 69 $ ( 472,989 ) $ ( 517,069 ) Other comprehensive (loss) income before reclassifications ( 3,067 ) ( 2,604 ) — ( 5,671 ) Amounts reclassified from AOCI — 906 11,847 (2) 12,753 Net current period OCI ( 3,067 ) ( 1,698 ) 11,847 7,082 September 30, 2024 $ ( 47,216 ) $ ( 1,629 ) $ ( 461,142 ) $ ( 509,987 ) March 31, 2023 $ ( 49,206 ) $ 1,217 $ ( 506,657 ) $ ( 554,646 ) Other comprehensive income before reclassifications ( 1,456 ) 566 — ( 890 ) Amounts reclassified from AOCI — ( 1,761 ) 10,346 (2) 8,585 Net current period OCI ( 1,456 ) ( 1,195 ) 10,346 7,695 September 30, 2023 $ ( 50,662 ) $ 22 $ ( 496,311 ) $ ( 546,951 ) (1) Net of tax . (2) Includes amortization of actuarial losses and recognized prior service costs, which are included in net periodic benefit income. Refer to Note 9 for additional disclosure regarding the Company's postretirement benefit plans.

Segments (Tables)

Segments (Tables)	6 Months Ended
	Sep. 30, 2024
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, 2024 Total Discontinued Operations Corporate & Systems & Interiors Net sales to external customers $ 287,495 $ — $ — $ 249,954 $ 37,541 Intersegment sales (eliminated in consolidation) — — ( 3 ) — 3 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 56,714 — — 54,823 1,891 Reconciliation of segment profit to income before income taxes Depreciation and amortization ( 7,487 ) — ( 578 ) ( 6,385 ) ( 524 ) Interest expense and other, net ( 21,869 ) Corporate expenses ( 14,071 ) Share-based compensation expense ( 3,350 ) Amortization of acquired contract liabilities 622 Non-service defined benefit expense ( 1,468 ) Income from continuing operations before income taxes $ 9,091 Total capital expenditures $ 6,286 $ — $ 558 $ 5,624 $ 104 Total assets $ 1,511,465 $ — $ 85,680 $ 1,309,907 $ 115,878 Three Months Ended September 30, 2023 Total Discontinued Operations Corporate & Systems & Interiors Net sales to external customers $ 284,678 $ — $ — $ 249,385 $ 35,293 Intersegment sales (eliminated in consolidation) — — ( 411 ) 411 — Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 45,783 — — 48,487 ( 2,704 ) Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 7,314 ) — ( 445 ) ( 6,225 ) ( 644 ) Interest expense and other, net ( 29,833 ) Corporate expenses ( 11,915 ) Share-based compensation expense ( 3,724 ) Gain on sale of assets and businesses 409 Amortization of acquired contract liabilities 590 Non-service defined benefit income 820 Legal contingencies loss ( 1,338 ) Debt modification and extinguishment gain 688 Warrant remeasurement gain, net 544 Loss from continuing operations before income taxes $ ( 5,290 ) Total capital expenditures $ 4,627 $ 465 $ 105 $ 3,506 $ 551 Six Months Ended September 30, 2024 Total Discontinued Operations Corporate & Systems & Interiors Net sales to external customers $ 568,511 $ — $ — $ 501,934 $ 66,577 Intersegment sales (eliminated in consolidation) — — ( 19 ) 8 11 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 96,834 — — 102,220 ( 5,386 ) Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 14,854 ) — ( 990 ) ( 12,764 ) ( 1,100 ) Interest expense and other, net ( 40,853 ) Corporate expenses ( 28,822 ) Share-based compensation expense ( 6,365 ) Amortization of acquired contract liabilities 1,213 Non-service defined benefit loss ( 2,501 ) Legal contingencies loss ( 7,464 ) Debt extinguishment loss ( 5,369 ) Loss from continuing operations before income taxes $ ( 8,181 ) Total capital expenditures $ 14,458 $ — $ 656 $ 13,346 $ 456 Six Months Ended September 30, 2023 Total Discontinued Operations Corporate & Systems & Interiors Net sales to external customers $ 548,501 $ — $ — $ 476,638 $ 71,863 Intersegment sales (eliminated in consolidation) — — ( 503 ) 490 13 Segment profit and reconciliation to consolidated income before income taxes: Adjusted EBITDAP 84,704 — — 89,301 ( 4,597 ) Reconciliation of segment profit to loss before income taxes Depreciation and amortization ( 14,679 ) — ( 940 ) ( 12,412 ) ( 1,327 ) Interest expense and other, net ( 61,935 ) Corporate expenses ( 28,365 ) Share-based compensation expense ( 7,346 ) Loss on sale of assets and businesses ( 12,208 ) Amortization of acquired contract liabilities 1,165 Non-service defined benefit income 1,640 Legal contingencies loss ( 1,338 ) Debt modification and extinguishment gain 4,079 Warrant remeasurement gain, net 8,545 Loss from continuing operations before income taxes $ ( 25,738 ) Total capital expenditures $ 11,028 $ 824 $ 1,937 $ 7,208 $ 1,059

Background and Basis of Prese_2

Background and Basis of Presentation - Additional Information (Details)	6 Months Ended
	Sep. 30, 2024 Segment
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 ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024	Jul. 06, 2023	Dec. 19, 2022	Dec. 01, 2022
Change In Accounting Estimate [Line Items]
Income taxes paid, net of refunds received			$ 9,070	$ 1,699
Net sales	$ 287,495	$ 284,678	$ 568,511	548,501
Number of warrants received by common stock holder								3
Number of common shares held to issue warrants								10
Number of warrants issued							19,500,000
Number of common stock purchased or issued for each warrant								1
Warrants exercise price								$ 12.35
Proceeds from warrants exercised, net of transaction costs					$ 79,961
Warrants remeasurement gain excludes cash issuance costs				8,532
Warrants redemption price per warrant						$ 11
Redeemed outstanding warrants						11,400,000
Fair value of warrants							$ 19,500
Warrants remeasurement gain				$ 8,532
Number of warrants exercised					7,700,000
Boeing [Member] | Trade Accounts Receivable [Member] | Credit Concentration Risk [Member]
Change In Accounting Estimate [Line Items]
Concentration Risk, Percentage			18%		14%
Continuing Operations [Member] | Boeing [Member] | Net sales [Member] | Customer Concentration Risk [Member]
Change In Accounting Estimate [Line Items]
Concentration Risk, Percentage			22.50%	24.30%
Net sales			$ 128,129	$ 133,252
Continuing Operations [Member] | Boeing [Member] | Net sales [Member] | Customer Concentration Risk [Member] | Systems & Support [Member]
Change In Accounting Estimate [Line Items]
Net sales			83,612	86,927
Continuing Operations [Member] | Boeing [Member] | Net sales [Member] | Customer Concentration Risk [Member] | Interiors [Member]
Change In Accounting Estimate [Line Items]
Net sales			$ 44,517	$ 46,325
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_3

Divested Operations and Assets Held For Sale - Additional Information (Details) - USD ($) $ in Thousands		1 Months Ended			3 Months Ended	6 Months Ended
	May 31, 2024	Mar. 31, 2024	Dec. 31, 2023	Jul. 31, 2022	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Discontinued operations and assets held for sale
Indemnified the buyer for a period from the date of transaction on product liability or warranty claims			3 years
Product liability or warranty claims exceeding aggregate amount			$ 1,000
Interest expense allocated to discontinued operations					$ 5,714		$ 11,984
Senior Secured First Lien Notes Due 2028 [Member]
Discontinued operations and assets held for sale
Percentage of principal amount redeemed	103%	103%
Stuart Manufacturing Operations [Member]
Discontinued operations and assets held for sale
Gain (loss) on disposition of business				$ 96,800		$ 8,300
Stuart Manufacturing Operations [Member] | Purchase Price Adjustments Related to Working Capital of Divested Operations [Member]
Discontinued operations and assets held for sale
Gain (loss) on disposition of business						3,900
Purchase price adjustment from divestiture of business.						6,800
Definitive Agreement A A R Corp [Member]
Discontinued operations and assets held for sale
Proceeds from divestiture of business			$ 725,000
Gain (loss) on disposition of business		$ 548,250
Definitive Agreement A A R Corp [Member] | Purchase Price Adjustments Related to Working Capital of Divested Operations [Member]
Discontinued operations and assets held for sale
Gain (loss) on disposition of business						$ 5,018

Divested Operations and Asset_4

Divested Operations and Assets Held For Sale - Schedule of Rusults of Operations and Major Classes of Assets and Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Operating costs and expenses:
Income tax expense	$ 0	$ 723	$ 338	$ 1,213
Income from discontinued operations		5,013	$ 4,680	8,558
Discontinued Operations, Held-for-Sale [Member] | Product Support [Member]
Major line items constituting pretax (loss) income of discontinued operations
Net sales		69,383		132,705
Operating costs and expenses:
Cost of sales (exclusive of depreciation shown separately below)		51,527		98,357
Selling, general and administrative		5,341		10,498
Depreciation and amortization		728		1,481
Total Operating costs and expenses		57,596		110,336
Operating income		11,787		22,369
Interest expense and other, net		6,051		12,598
Income from discontinued operations before income taxes		5,736		9,771
Income tax expense		723		1,213
Income from discontinued operations		$ 5,013		$ 8,558

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation Of Revenue [Line Items]
Amortization of acquired contract liabilities	$ 622	$ 590	$ 1,213	$ 1,165
Net sales	287,495	284,678	568,511	548,501
Systems & Support [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	249,332	248,795	500,721	475,473
Amortization of acquired contract liabilities	622	590	1,213	1,165
Revenues excluding intercompany sales	249,954	249,385	501,934	476,638
Systems & Support [Member] | Transferred over Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	69,590	77,874	141,897	157,670
Systems & Support [Member] | Transferred at Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	179,742	170,921	358,824	317,803
Interiors [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	37,541	35,293	66,577	71,863
Revenues excluding intercompany sales	37,541	35,293	66,577	71,863
Interiors [Member] | Transferred over Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	29,698	29,716	53,209	60,645
Interiors [Member] | Transferred at Point in Time [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	$ 7,843	$ 5,577	$ 13,368	$ 11,218

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation Of Revenue [Line Items]
Amortization of acquired contract liabilities	$ 622	$ 590	$ 1,213	$ 1,165
Net sales	287,495	284,678	568,511	548,501
Systems & Support [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	249,332	248,795	500,721	475,473
Amortization of acquired contract liabilities	622	590	1,213	1,165
Revenues excluding intercompany sales	249,954	249,385	501,934	476,638
Systems & Support [Member] | OEM Commercial [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	82,799	95,493	174,293	176,937
Systems & Support [Member] | OEM Military [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	64,045	61,058	125,820	126,854
Systems & Support [Member] | MRO Commercial [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	48,932	39,728	97,438	74,204
Systems & Support [Member] | MRO Military [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	43,766	43,558	84,899	80,476
Systems & Support [Member] | Non-aviation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	9,790	8,958	18,271	17,002
Interiors [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	37,541	35,293	66,577	71,863
Revenues excluding intercompany sales	37,541	35,293	66,577	71,863
Interiors [Member] | OEM Commercial [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	36,144	35,082	63,337	70,740
Interiors [Member] | MRO Commercial [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	1,219	0	2,889	704
Interiors [Member] | Non-aviation [Member]
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers	$ 178	$ 211	$ 351	$ 419

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, 2024	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Contract assets	$ 84,719	$ 74,289
Contract liabilities	(57,555)	(65,358)
Net contract asset	27,164	$ 8,931
Change in contract assets	10,430
Change in contract liabilities	7,803
Change in net contract asset	$ 18,233

Revenue Recognition and Contr_6

Revenue Recognition and Contracts with Customers - Additional Information (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 20,459

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, 2024 USD ($)
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 1,617,322
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	1,021,243
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	569,662
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2029-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	25,876
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2030-10-01
Revenue Remaining Performance Obligation Expected Timing Of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 541
Maximum [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	6 months
Maximum [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	3 years
Maximum [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2029-10-01
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: 2025-10-01
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: 2028-10-01
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: 2030-10-01
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, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Unsatisfied performance obligations	$ 1,617,322

Inventories - Schedule of Compo

Inventories - Schedule of Components of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Inventory Disclosure [Abstract]
Raw materials	$ 38,157	$ 25,224
Work-in-process, including manufactured and purchased components	339,206	277,471
Finished goods	16,461	14,976
Total inventories	$ 393,824	$ 317,671

Long-term Debt - Schedule of Lo

Long-term Debt - Schedule of Long-term Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Mar. 31, 2024
Debt Instrument [Line Items]
Less: debt issuance costs	$ (12,883)	$ (16,599)
Long-term debt	965,746	1,078,199
Less: current portion	8,126	3,200
Long-term debt, less current portion	957,620	1,074,999
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Long-term debt, Gross	17,916	14,008
Senior Secured First Lien Notes Due 2028 [Member]
Debt Instrument [Line Items]
Long-term debt, Gross	958,890	1,078,890
Other Notes [Member]
Debt Instrument [Line Items]
Long-term debt, Gross	$ 1,823	$ 1,900

Long-term Debt - Additional Inf

Long-term Debt - Additional Information (Details) - USD ($) shares in Millions

1 Months Ended

3 Months Ended

6 Months Ended

9 Months Ended

12 Months Ended

May 31, 2024

Mar. 14, 2023

Nov. 05, 2021

Aug. 17, 2020

Aug. 17, 2017

Mar. 31, 2024

Sep. 30, 2023

Sep. 30, 2024

Sep. 30, 2023

Dec. 31, 2023

Mar. 31, 2024

Oct. 31, 2024

Aug. 31, 2023

Debt Instrument [Line Items]

Gain (loss) on modification and extinguishment of debt

$ 688,000

$ (5,369,000)

$ 4,079,000

Interest paid, including capitalized interest, operating and investing activities

46,391,000

74,218,000

Payment of financing costs

1,578,000

Agent [Member]

Debt Instrument [Line Items]

Maximum amount of debt to be potentially repurchased

$ 50,000,000

Cash used to redeem debt including interest and transaction costs

$ 48,062,000

Product Support [Member]

Debt Instrument [Line Items]

Proceeds from divestiture of business

$ 129,827,000

437,590,000

Receivable Securitization Facility [Member]

Debt Instrument [Line Items]

Line of credit facility, commitment fee percentage

2.25%

Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]

BSBY [Member]

Percentage of drawn fee

2%

Percentage of collateralized fee incurred

0.125%

Long-term debt, Gross

0

Letters of credit outstanding, amount

20,804,000

Receivable Securitization Facility [Member] | Subsequent Events [Member]

Debt Instrument [Line Items]

Long-term debt, Gross

$ 20,000,000

Receivable Securitization Facility [Member] | Minimum [Member]

Debt Instrument [Line Items]

Line of credit facility, unused capacity, commitment fee percentage

0.45%

Receivable Securitization Facility [Member] | Maximum [Member]

Debt Instrument [Line Items]

Line of credit facility, maximum borrowing capacity

75,000,000

Line of credit facility, unused capacity, commitment fee percentage

0.50%

Senior Secured First Lien Notes Due 2024 [Member]

Debt Instrument [Line Items]

Debt instrument, redemption price, percentage

100%

Debt instrument, redemption, description

40%

Debt instrument, redemption price, percentage - equity offering

109%

Debt instrument, redemption price, percentage - change of control

101%

Senior Notes Due 2025 [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

7.75%

Debt instrument, principal amount

$ 500,000,000

$ 50,000,000

Debt tendered to exercise warrant

$ 13,404,000

Warrants excercised through tendering of debt

0.9

Debt repurchase principal amount

435,621,000

435,621,000

Gain (loss) on modification and extinguishment of debt

500,000

Debt instrument, due date

Aug. 15, 2025

Senior Secured First Lien Notes Due 2028 [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate, stated percentage

9%

Long-term debt, Gross

1,078,890,000

958,890,000

1,078,890,000

Debt instrument, principal amount

$ 1,200,000,000

Proceeds from loan, percentage of principal (as a percent)

100%

Debt instrument, interest rate, effective percentage

9%

Debt instrument, interest payment terms

Interest is payable semi-annually in cash in arrears on March 15 and September 15 of each year

Debt repurchase principal amount

$ 120,000,000

$ 120,000,000

$ 120,000,000

Percentage of principal amount redeemed

103%

103%

Debt instrument repurchased asset sale tender offer

$ 1,110,000

Gain (loss) on modification and extinguishment of debt

$ (5,463,000)

$ 5,369,000

$ 3,400,000

Payment of financing costs

$ 23,000,000

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, 2024	Mar. 31, 2024
Debt Instrument [Line Items]
Long-term debt	$ 965,746	$ 1,078,199
Reported Value Measurement [Member]
Debt Instrument [Line Items]
Long-term debt	965,746	1,078,199
Estimate of Fair Value Measurement [Member]
Debt Instrument [Line Items]
Long-term debt	$ 1,027,437	$ 1,154,245

Earnings (Loss) per Share - Sum

Earnings (Loss) 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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Weighted average common shares outstanding - basic	77,343	76,447	77,252	71,368
Dilutive potential common shares	375	0	0	0
Weighted average common shares outstanding - diluted	77,718	76,447	77,252	71,368

Earnings (Loss) per Share - S_2

Earnings (Loss) per Share - Summary of Reconciliation between Weighted-average Common Shares Outstanding used in Calculation of Basis and Diluted Earnings Per Share (Parenthetical) (Details) - shares shares in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount	2,204	1,983	2,204

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Income Tax Contingency [Line Items]
Unrecognized tax benefits	$ 12,453		$ 12,453		$ 12,281
Effective income tax rate (as a percent)	(30.50%)	(19.30%)	15.60%	(8.90%)

Pension and Other Postretirem_3

Pension and Other Postretirement Benefit Plans - Schedule of Components of Net Periodic Benefit Expense (Details) - Pension Plan [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 43	$ 100	$ 85	$ 200
Interest cost	19,687	20,117	39,375	40,234
Expected return on plan assets	(24,706)	(26,252)	(49,413)	(52,504)
Amortization of prior service credits	26	26	51	51
Amortization of net loss	8,287	7,523	16,575	15,046
Net periodic benefit expense	$ 3,337	$ 1,514	$ 6,673	$ 3,027

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Other postretirement [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit income			$ 4,522	$ 4,467
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit income	$ 3,337	$ 1,514	$ 6,673	$ 3,027

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance		$ (119,561)	$ (751,864)	$ (104,414)	$ (797,396)
Total other comprehensive income (loss)		9,149	(845)	7,082	7,695
Balance		(95,186)	(668,216)	(95,186)	(668,216)
Currency Translation Adjustment [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance		(50,525)	(45,502)	(44,149)	(49,206)
Other comprehensive income (loss) before reclassifications		3,309	(5,160)	(3,067)	(1,456)
Total other comprehensive income (loss)		3,309	(5,160)	(3,067)	(1,456)
Balance		(47,216)	(50,662)	(47,216)	(50,662)
Unrealized Gains and Losses on Derivative Instruments [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance		(1,545)	880	69	1,217
Other comprehensive income (loss) before reclassifications		(959)	(13)	(2,604)	566
Amounts reclassified from AOCI		875	(845)	906	(1,761)
Total other comprehensive income (loss)		(84)	(858)	(1,698)	(1,195)
Balance		(1,629)	22	(1,629)	22
Defined Benefit Pension Plans and Other Postretirement Benefits [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance		(467,066)	(501,484)	(472,989)	(506,657)
Amounts reclassified from AOCI	[1]	5,924	5,173	11,847	10,346
Total other comprehensive income (loss)		5,924	5,173	11,847	10,346
Balance		(461,142)	(496,311)	(461,142)	(496,311)
Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items]
Balance	[2]	(519,136)	(546,106)	(517,069)	(554,646)
Other comprehensive income (loss) before reclassifications	[2]	2,350	(5,173)	(5,671)	(890)
Amounts reclassified from AOCI	[2]	6,799	4,328	12,753	8,585
Total other comprehensive income (loss)	[2]	9,149	(845)	7,082	7,695
Balance	[2]	$ (509,987)	$ (546,951)	$ (509,987)	$ (546,951)
[1] Includes amortization of actuarial losses and recognized prior service costs, which are included in net periodic benefit income. Refer to Note 9 for additional disclosure regarding the Company's postretirement benefit plans. Net of tax

Segments - Additional Informati

Segments - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) Segment	Sep. 30, 2023 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment			2
Net sales | $	$ 287,495	$ 284,678	$ 568,511	$ 548,501

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, 2024	Jun. 30, 2024	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024
Segment Reporting Information [Line Items]
Net sales to external customers	$ 287,495		$ 284,678		$ 568,511	$ 548,501
Intersegment sales (eliminated in consolidation)	0		0		0	0
Segment profit and reconciliation to consolidated income before income taxes:
Adjusted EBITDAP	56,714		45,783		96,834	84,704
Reconciliation of segment profit to income (loss) before income taxes
Depreciation and amortization	(7,487)		(7,314)		(14,854)	(14,679)
Interest expense and other, net	(21,869)		(29,833)		(40,853)	(61,935)
Corporate expenses	(14,071)		(11,915)		(28,822)	(28,365)
Share-based compensation expense	(3,350)	$ (3,015)	(3,724)	$ (3,622)	(6,365)	(7,346)
Gain (loss) on sale of assets and businesses			409			(12,208)
Amortization of acquired contract liabilities	622		590		1,213	1,165
Non-service defined benefit income (loss)	(1,468)		820		(2,501)	1,640
Legal contingencies loss			(1,338)		(7,464)	(1,338)
Debt modification and extinguishment gain (loss)			688		(5,369)	4,079
Warrant remeasurement gain, net			544			8,545
Income (Loss) from continuing operations before income taxes	9,091		(5,290)		(8,181)	(25,738)
Total capital expenditures	6,286		4,627		14,458	11,028
Total assets	1,511,465				1,511,465		$ 1,686,270
Systems & Support [Member]
Reconciliation of segment profit to income (loss) before income taxes
Amortization of acquired contract liabilities	622		590		1,213	1,165
Corporate & Eliminations [Member]
Segment Reporting Information [Line Items]
Net sales to external customers	0		0		0	0
Intersegment sales (eliminated in consolidation)	(3)		(411)		(19)	(503)
Segment profit and reconciliation to consolidated income before income taxes:
Adjusted EBITDAP	0		0		0	0
Reconciliation of segment profit to income (loss) before income taxes
Depreciation and amortization	(578)		(445)		(990)	(940)
Total capital expenditures	558		105		656	1,937
Total assets	85,680				85,680
Operating Segments [Member] | Discontinued Operations [Member]
Reconciliation of segment profit to income (loss) before income taxes
Total capital expenditures			465			824
Operating Segments [Member] | Systems & Support [Member]
Segment Reporting Information [Line Items]
Net sales to external customers	249,954		249,385		501,934	476,638
Intersegment sales (eliminated in consolidation)	0		411		8	490
Segment profit and reconciliation to consolidated income before income taxes:
Adjusted EBITDAP	54,823		48,487		102,220	89,301
Reconciliation of segment profit to income (loss) before income taxes
Depreciation and amortization	(6,385)		(6,225)		(12,764)	(12,412)
Total capital expenditures	5,624		3,506		13,346	7,208
Total assets	1,309,907				1,309,907
Operating Segments [Member] | Interiors [Member]
Segment Reporting Information [Line Items]
Net sales to external customers	37,541		35,293		66,577	71,863
Intersegment sales (eliminated in consolidation)	3		0		11	13
Segment profit and reconciliation to consolidated income before income taxes:
Adjusted EBITDAP	1,891		(2,704)		(5,386)	(4,597)
Reconciliation of segment profit to income (loss) before income taxes
Depreciation and amortization	(524)		(644)		(1,100)	(1,327)
Total capital expenditures	104		$ 551		456	$ 1,059
Total assets	$ 115,878				$ 115,878

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands			1 Months Ended	3 Months Ended	6 Months Ended
	Dec. 12, 2023	May 02, 2023	Apr. 30, 2023	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2023
Loss Contingencies [Line Items]
Estimate of total future remediation costs				$ 1,338	$ 7,464	$ 1,338
Estimate of total future remediation costs							$ 14,644
Lease payment for divested business		$ 130
Accrued liability							$ 14,644
Periodic payment of withdrawal liability			$ 400
Withdrawal liability					$ 13,528
Maximum [Member]
Loss Contingencies [Line Items]
Obligations gurantee period for divestiture					5 years
Minimum [Member]
Loss Contingencies [Line Items]
Obligations gurantee period for divestiture					2 years
Environmental Accrual Matters [Member]
Loss Contingencies [Line Items]
Estimate of total future remediation costs					$ 13,464	$ 2,000
Estimate of total future remediation costs					11,500
Accrued liability					11,500
Environmental Accrual Matters [Member] | Maximum [Member]
Loss Contingencies [Line Items]
Forecasted loss contingency estimate of possible loss					38,000
Loss in annual cash expenditures, limit					3,000
Environmental Accrual Matters [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Loss in annual cash expenditures, limit					2,000
Environmental Accrual Matters [Member] | Other Property [Member]
Loss Contingencies [Line Items]
Estimate of total future remediation costs					1,300
Accrued liability					1,300
Representations - General [Member]
Loss Contingencies [Line Items]
Loss limit under asset purchase agreement					18,750
Representations - Specified [Member]
Loss Contingencies [Line Items]
Loss limit under asset purchase agreement					25,000
Accounts Payable Representation [Member]
Loss Contingencies [Line Items]
Payment of legal settlement					2,400
Warranty Under Purchase Agreement [Member]
Loss Contingencies [Line Items]
Payment of legal settlement					9,200
Stuart Manufacturing Operations [Member]
Loss Contingencies [Line Items]
Payment of legal settlement					$ 6,800
Additional damages claimed	$ 130,000