Triumph (TGI) 10-Q 30 Oct 15 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Oct. 30, 2015
Entity Information [Line Items]
Entity Registrant Name		TRIUMPH GROUP INC
Entity Central Index Key		1,021,162
Current Fiscal Year End Date		--03-31
Entity Filer Category		Large Accelerated Filer
Document Type		10-Q
Document Period End Date		Sep. 30, 2015
Document Fiscal Year Focus		2,016
Document Fiscal Period Focus		Q2
Amendment Flag		false
Entity Common Stock, Shares Outstanding			49,316,991
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015
Current assets:
Cash and cash equivalents	$ 39,089	$ 32,617
Trade and other receivables, less allowance for doubtful accounts of $6,458 and $6,475	540,902	521,601
Inventories, net of unliquidated progress payments of $153,998 and $189,923	1,556,487	1,280,274
Rotable assets	52,335	48,820
Deferred Tax Assets, Net of Valuation Allowance, Current	73,823	145,352
Prepaid and other current assets	28,775	23,069
Total current assets	2,291,411	2,051,733
Property and equipment, net	914,304	950,734
Goodwill	2,022,820	2,019,225
Intangible assets, net	934,108	966,365
Other, net	109,928	107,997
Total assets	6,272,571	6,096,054
Current liabilities:
Current portion of long-term debt	43,048	42,255
Accounts payable	399,927	429,134
Accrued expenses	404,273	411,848
Total current liabilities	847,248	883,237
Long-term debt, less current portion	1,556,647	1,326,345
Accrued pension and other postretirement benefits, noncurrent	492,433	538,381
Deferred income taxes, noncurrent	401,396	410,543
Other noncurrent liabilities	717,465	801,764
Stockholders’ equity:
Common stock, $.001 par value, 100,000,000 shares authorized, 52,460,920 and 52,460,920 shares issued; 49,307,138 and 49,273,053 shares outstanding	51	51
Capital in excess of par value	849,847	851,940
Treasury Stock, Value	(200,457)	(203,514)
Accumulated other comprehensive loss	(198,677)	(198,910)
Retained earnings	1,806,618	1,686,217
Total stockholders' equity	2,257,382	2,135,784
Total liabilities and stockholders' equity	$ 6,272,571	$ 6,096,054

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parenthetical (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015
Allowance for doubtful accounts	$ 6,290	$ 6,475
Unliquidated progress payments	$ 138,696	$ 189,923
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	52,460,920	52,460,920
Common stock, shares outstanding	49,307,138	49,273,053
Treasury Stock, Shares	3,153,782	3,187,867

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net sales	$ 954,774	$ 994,123	$ 1,914,412	$ 1,891,028
Operating costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown separately below)	730,831	771,445	1,462,925	1,456,262
Selling, General and Administrative Expense	71,321	68,770	144,602	134,479
Depreciation and amortization	42,575	39,014	86,109	76,565
Restructuring Charges	0	196	0	3,193
Gain (Loss) Related to Litigation Settlement	0	0	0	134,693
Settlements and early retirement incentive expense	0	0
Operating expenses	844,727	879,425	1,696,499	1,535,806
Operating Income (Loss)	110,047	114,698	217,913	355,222
Interest expense and other	15,631	15,386	33,747	57,746
Income from continuing operations before income taxes	94,416	99,312	184,166	297,476
Income Tax Expense (Benefit)	32,804	31,866	59,823	101,786
Net Income (Loss) Attributable to Parent	$ 61,612	$ 67,446	$ 124,343	$ 195,690
Earnings per share-basic:
Earnings per share—basic:	$ 1.25	$ 1.32	$ 2.53	$ 3.81
Weighted-average common shares outstanding-basic (in shares)	49,219	51,015	49,208	51,351
Earnings per share-diluted:
Earnings per share—diluted:	$ 1.25	$ 1.32	$ 2.52	$ 3.79
Weighted-average common shares outstanding-diluted (in shares)	49,308	51,169	49,311	51,627
Dividends declared and paid per common share (in dollars per share)	$ 0.04	$ 0.04	$ 0.08	$ 0.08
Pension Plan [Member]
Operating costs and expenses:
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			$ 2,863	$ 0

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Prior service credit, net of taxes of $0 and ($7,023) for the three months ended and $0 and ($7,023) for the nine months ended	$ 0	$ 0	$ (360)	$ 0
Actuarial gain, net of taxes ($3,110)	0	0	5,306	0
Net Income (Loss) Attributable to Parent	61,612	67,446	124,343	195,690
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustment	(15,658)	(16,827)	(4,725)	(9,623)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	487	0	1,421	0
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Net of Tax	(1,584)	(1,533)	(1,348)	(3,066)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent	(1,097)	(1,533)	5,739	(3,066)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(1,766)	906	(754)	(451)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(34)	(31)	(27)	(66)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(1,800)	875	(781)	(517)
Other Comprehensive Income (Loss), Net of Tax	(18,555)	(17,485)	233	(13,206)
Total comprehensive income	$ 43,057	$ 49,961	$ 124,576	$ 182,484

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income Parenthetical (Parentheticals) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Prior service credit, net of taxes of $0 and ($7,023) for the three months ended and $0 and ($7,023) for the nine months ended	$ 0	$ 0	$ (360)	$ 0
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit), Tax	0	0	(211)	0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During the Period, Tax	0	0	(3,110)	$ 0
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Tax	(285)	0	(833)
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax	928	921	790
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During the Period, Tax	1,018	(685)	483
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	$ 2	$ 9	$ 2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Operating Activities
Net Income (Loss) Attributable to Parent	$ 124,343	$ 195,690
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	86,109	76,565
Amortization of acquired contract liabilities	(65,502)	(23,832)
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements	(2,863)	0
Accretion of debt discount	0	1,577
Other amortization included in interest expense	1,945	6,255
Provision for doubtful accounts receivable	1,248	(55)
Provision for deferred income taxes	41,705	100,307
Employee stock-based compensation	1,990	2,056
Changes in assets and liabilities, excluding the effects of acquisitions and dispositions of businesses:
Trade and other receivables	(30,945)	57,938
Rotable assets	(1,143)	(1,848)
Inventories	(273,225)	(80,273)
Prepaid expenses and other current assets	5,446	3,405
Accounts payable, accrued expenses and other current liabilities	(36,854)	11,231
Accrued pension and other postretirement benefits	(39,549)	(90,071)
Other	3,114	(530)
Net cash (used in) provided by operating activities	(178,455)	258,415
Investing Activities
Capital expenditures	(38,128)	(59,074)
Proceeds from sale of assets	1,561	1,192
Acquisitions, net of cash acquired	(5,986)	(73,901)
Net cash used in investing activities	(42,553)	(131,230)
Financing Activities
Net increase in revolving credit facility	166,094	68,421
Proceeds from issuance of long-term debt	108,297	342,960
Repayment of debt and capital lease obligations	(44,207)	(427,343)
Payments for Repurchase of Common Stock	0	93,018
Payment of deferred financing costs	(143)	(5,513)
Dividends paid	(3,943)	(4,090)
Repayments of government grant	0	(3,198)
Repurchase of restricted shares for minimum tax obligation	(96)	(673)
Proceeds from exercise of stock options	0	356
Net cash (used in) provided by financing activities	226,002	(122,098)
Effect of exchange rate changes on cash	1,478	(719)
Net change in cash	6,472	4,368
Cash at beginning of period	32,617	28,998
Cash at end of period	$ 39,089	$ 33,366

Consolidated Statements of Cas8

Consolidated Statements of Cash Flows Parenthetical (Parentheticals) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Excess tax benefit	$ 0	$ 0

BASIS OF PRESENTATION AND ORGAN

BASIS OF PRESENTATION AND ORGANIZATION	6 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	BASIS OF PRESENTATION AND ORGANIZATION The accompanying unaudited condensed consolidated financial statements of Triumph Group, Inc. (the "Company") 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, 2015 are not necessarily indicative of results that may be expected for the year ending March 31, 2016 . The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the fiscal 2015 audited condensed consolidated financial statements and notes thereto included in the Company's Form 10-K for the year ended March 31, 2015 filed with the Securities and Exchange Commission (the "SEC") on May 21, 2015. The Company designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The Company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers. In April 2015, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2015-03, Interest—Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs. ASU 2015-03 requires companies to present debt issuance costs as a direct deduction from the carrying value of that debt liability. ASU 2015-03 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is allowed for financial statements that have not been previously issued. Entities would apply the new guidance retrospectively to all prior periods (i.e., the balance sheet for each period is adjusted). Effective April 1, 2015, the Company adopted this standard. The adoption did not have a material impact on the Company’s financial position, results of operations or cash flows (see Note 5 for further discussion). The Company's policy is to exclude debt issuance costs relating to revolving debt instruments as a direct deduction to debt (see Note 5 for further discussion).

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Revenue Recognition Revenues are generally recognized in accordance with the contract terms when products are shipped, delivery has occurred or services have been rendered, pricing is fixed and determinable, and collection is reasonably assured. A significant portion of the Company’s contracts are within the scope of the Revenue Recognition - Construction-Type and Production-Type Contracts topic of the ASC 605-35 and revenue and costs on contracts are recognized using the percentage-of-completion method of accounting. Accounting for the revenue and profit on a contract requires estimates of (1) the contract value or total contract revenue, (2) the total costs at completion, which is equal to the sum of the actual incurred costs to date on the contract and the estimated costs to complete the contract’s scope of work, and (3) the measurement of progress towards completion. Depending on the contract, the Company measures progress toward completion using either the cost-to-cost method or the units-of-delivery method of accounting, with the great majority measured under the units-of-delivery method of accounting. • Under the cost-to-cost method of accounting, progress toward completion is measured as the ratio of total costs incurred to estimated total costs at completion. Costs are recognized as incurred. Profit is determined based on estimated profit margin on the contract multiplied by the progress toward completion. Revenue represents the sum of costs and profit on the contract for the period. • Under the units-of-delivery method of accounting, revenue on a contract is recorded as the units are delivered and accepted during the period at an amount equal to the contractual selling price of those units. The costs recorded on a contract under the units-of-delivery method of accounting are equal to the total costs at completion divided by the total units to be delivered. As contracts can span multiple years, the Company often segments the contracts into production lots for the purposes of accumulating and allocating cost. Profit is recognized as the difference between revenue for the units delivered and the estimated costs for the units delivered. Adjustments to original estimates for a contract’s revenues, estimated costs at completion and estimated total profit are often required as work progresses under a contract, as experience is gained and as more information is obtained, even though the scope of work required under the contract may not change, or if contract modifications occur. These estimates are also sensitive to the assumed rate of production. Generally, the longer it takes to complete the contract quantity, the more relative overhead that contract will absorb. The impact of revisions in cost estimates is recognized on a cumulative catch-up basis in the period in which the revisions are made. Provisions for anticipated losses on contracts are recorded in the period in which they become evident (‘‘forward losses’’) and are first offset against costs that are included in inventory, with any remaining amount reflected in accrued contract liabilities in accordance with the Revenue Recognition - Construction-Type and Production-Type Contracts topic. Revisions in contract estimates, if significant, can materially affect results of operations and cash flows, as well as valuation of inventory. Furthermore, certain contracts are combined or segmented for revenue recognition in accordance with the Revenue Recognition - Construction-Type and Production-Type Contracts topic. For the three months ended September 30, 2015 , cumulative catch-up adjustments from changes in estimates, inclusive of changes in forward loss estimates, decreased operating income, net income and earnings per share by approximately $(6,794) , $(4,433) and $(0.09) , net of tax, respectively. The cumulative catch-up adjustments to operating income for the three months ended September 30, 2015 , included gross favorable adjustments of approximately $14,484 and gross unfavorable adjustments of approximately $(21,278) . For the three months ended September 30, 2014 , cumulative catch-up adjustments from changes in estimates decreased operating income, net income and earnings per share by approximately $(6,164) , $(4,186) and $(0.08) , net of tax, respectively. For the six months ended September 30, 2015 , cumulative catch-up adjustments from changes in estimates, inclusive of changes in forward loss estimates, decreased operating income, net income and earnings per share by approximately $(6,324) , $(4,270) and $(0.09) , net of tax, respectively. The cumulative catch-up adjustments to operating income for the six months ended September 30, 2015 , included gross favorable adjustments of approximately $26,862 and gross unfavorable adjustments of approximately $(33,186) . For the six months ended September 30, 2014 , cumulative catch-up adjustments from changes in estimates decreased operating income, net income and earnings per share by approximately $(4,450) , $(2,927) and $(0.06) , net of tax, respectively. Amounts representing contract change orders or claims are only included in revenue when such change orders or claims have been settled with the customer and to the extent that units have been delivered. Additionally, some contracts may contain provisions for revenue sharing, price re-determination, requests for equitable adjustments, change orders or cost and/or performance incentives. Such amounts or incentives are included in contract value when the amounts can be reliably estimated and their realization is reasonably assured. Although fixed-price contracts, which extend several years into the future, generally permit the Company to keep unexpected profits if costs are less than projected, the Company also bears the risk that increased or unexpected costs may reduce profit or cause the Company to sustain losses on the contract. In a fixed-price contract, the Company must fully absorb cost overruns, notwithstanding the difficulty of estimating all of the costs the Company will incur in performing these contracts and in projecting the ultimate level of revenue that may otherwise be achieved. As disclosed during fiscal 2015, we recognized a provision for forward losses associated with our long-term contract on the 747-8 program. There is still risk similar to what the Company has experienced on the 747-8 program. In particular, the Company's ability to manage risks related to supplier performance, execution of cost reduction strategies, hiring and retaining skilled production and management personnel, quality and manufacturing execution, program schedule delays and many other risks, will determine the ultimate performance of these programs. Included in net sales of the Aerostructures and Aerospace Systems group is the non-cash amortization of acquired contract liabilities that were recognized as fair value adjustments through purchase accounting from various acquisitions. For the three months ended September 30, 2015 and 2014 , the Company recognized $30,404 and $14,865 , respectively, into net sales in the accompanying Condensed Consolidated Statements of Income. For the six months ended September 30, 2015 and 2014 , the Company recognized $65,502 and $23,832 , respectively, into net sales in the accompanying Condensed Consolidated Statements of Income. The Aftermarket Services Group provides repair and overhaul services, of which a small portion of services are provided under long-term power-by-the-hour contracts. The Company applies the proportional performance method of accounting to recognize revenue under these contracts. Revenue is recognized over the contract period as units are delivered based on the relative value in proportion to the total estimated contract consideration. In estimating the total contract consideration, management evaluates the projected utilization of its customers’ fleet over the term of the contract, in connection with the related estimated repair and overhaul servicing requirements to the fleet based on such utilization. Changes in utilization of the fleet by customers, among other factors, may have an impact on these estimates and require adjustments to estimates of revenue to be realized. Concentration of Credit Risk The Company’s trade 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 Boeing (representing commercial, military and space) represented approximately 30% and 13% of total trade accounts receivable as of September 30, 2015 and March 31, 2015 , respectively. Trade accounts receivable from Gulfstream Aerospace Corporation ("Gulfstream") represented approximately 15% and 16% of total trade accounts receivable as of September 30, 2015 and March 31, 2015 , respectively. The Company had no other concentrations of credit risk of more than 10% . Sales to Boeing for the six months ended September 30, 2015 , were $750,044 , or 39% of net sales, of which $634,416 , $97,452 and $18,176 were from the Aerostructures segment, the Aerospace Systems segment and Aftermarket Services segment, respectively. Sales to Boeing for the six months ended September 30, 2014 , were $826,698 , or 44% of net sales, of which $747,762 , $66,092 and $12,844 were from the Aerostructures segment, the Aerospace Systems segment and Aftermarket Services segment, respectively. Sales to Gulfstream for the six months ended September 30, 2015 , were $251,384 , or 13% of net sales, of which $249,601 , $1,776 and $7 were from the Aerostructures segment, the Aerospace Systems segment and Aftermarket Services segment, respectively. Sales to Gulfstream for the six months ended September 30, 2014 , were $137,635 , or 7% of net sales, of which $135,848 , $1,787 and $0 were from the Aerostructures segment, the Aerospace Systems segment and Aftermarket Services segment, 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 and Gulfstream, could have a material adverse effect on the Company and its operating subsidiaries. Stock-Based Compensation The Company recognizes compensation expense for share-based awards based on the fair value of those awards at the date of grant. Stock-based compensation expense for the three months ended September 30, 2015 and 2014 , was $1,199 and $1,060 , respectively. Stock-based compensation expense for the six months ended September 30, 2015 and 2014 , was $1,990 and $2,056 , respectively. The Company has classified share-based compensation within selling, general and administrative expenses to correspond with the same line item as the majority of the cash compensation paid to employees. Upon the exercise of stock options or vesting of restricted stock, the Company first transfers treasury stock, then issues new shares. Intangible Assets The components of intangible assets, net, are as follows: September 30, 2015 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.3 $ 678,189 $ (204,799 ) $ 473,390 Product rights, technology and licenses 11.7 56,014 (35,970 ) 20,044 Non-compete agreements and other 15.9 2,928 (654 ) 2,274 Tradenames Indefinite-lived 438,400 — 438,400 Total intangibles, net $ 1,175,531 $ (241,423 ) $ 934,108 March 31, 2015 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.5 $ 683,272 $ (180,765 ) $ 502,507 Product rights, technology and licenses 11.8 56,302 (33,208 ) 23,094 Non-compete agreements and other 15.9 2,929 (565 ) 2,364 Tradenames Indefinite-lived 438,400 — 438,400 Total intangibles, net $ 1,180,903 $ (214,538 ) $ 966,365 Amortization expense for the three months ended September 30, 2015 and 2014 , was $14,447 and $11,848 , respectively. Amortization expense for the six months ended September 30, 2015 and 2014 , was $30,411 and $23,479 , respectively. 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 to its interest rate swap (see Note 5). Warranty Reserves A reserve has been established to provide for the estimated future cost of warranties on our delivered products. The Company periodically reviews the reserves and adjustments are made accordingly. A provision for warranty on products delivered is made on the basis of historical experience and identified warranty issues. Warranties cover such factors as non-conformance to specifications and defects in material and workmanship. The majority of the Company's agreements include a three -year warranty, although certain programs have warranties up to 20 years. The warranty reserves as of September 30, 2015 and March 31, 2015 , were $107,290 and $112,140 , respectively. Supplemental Cash Flow Information The Company paid $2,220 for income taxes, net of refunds received, for the six months ended September 30, 2015 . The Company received $24,246 for income refunds, net of payments, for the six months ended September 30, 2014 . The Company made interest payments of $30,236 and $52,250 for the six months ended September 30, 2015 and 2014 , respectively. During the three and six months ended September 30, 2015 and 2014 , respectively, the Company did not finance any property and equipment additions through capital leases. During the six months ended September 30, 2014 , under the existing stock repurchase program, the Company repurchased 1,386,740 shares for $93,018 . As of September 30, 2015 , the Company remains able to purchase an additional 2,277,789 shares under the existing stock repurchase program.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS FISCAL 2015 ACQUISITIONS Acquisition of Spirit AeroSystems Holdings, Inc. - Gulfstream G650 and G280 Wing Programs Effective December 30, 2014, a wholly-owned subsidiary of the Company, Triumph Aerostructures - Tulsa LLC, doing business as Triumph Aerostructures-Vought Aircraft Division-Tulsa, completed the acquisition of the Gulfstream G650 and G280 wing programs (the "Tulsa Programs") located in Tulsa, Oklahoma, from Spirit AeroSystems, Inc. The acquisition of the Tulsa Programs establishes the Company as a leader in fully integrated wing design, engineering and production and advances its standing as a strategic Tier One Capable aerostructures supplier. The acquired business operates as Triumph Aerostructures-Vought Aircraft Division-Tulsa and its results are included in the Aerostructures Group from the date of acquisition. The Company received $160,000 in cash plus assets required to run the business from Spirit-Tulsa to cover the anticipated future cash flow needs of the programs. Goodwill in the amount of $73,800 was provisionally recognized for this acquisition and is calculated as the excess of consideration transferred over the net assets recognized and represents future economic benefits arising from other assets acquired that could not be individually identified and separately recognized such as assembled workforce. The goodwill is not deductible for tax purposes. The accounting for the business combination is provisional and dependent upon obtaining final valuations and other information for certain assets and liabilities which have not yet been identified, completed or obtained to a point where definitive estimates can be made. The process for estimating the fair values of identified intangible assets, certain tangible assets and assumed liabilities requires the use of judgment to determine the appropriate assumptions. As the Company finalizes estimates of the fair value of assets acquired and liabilities assumed, substantially all of the purchase price allocation for the Tulsa Programs is provisional. Additional purchase price adjustments will be recorded during the measurement period not to exceed one year beyond the acquisition date. These adjustments may have a material impact on the Company's results of operations and financial position. The table below presents the provisional estimated fair value of assets acquired and liabilities assumed on the acquisition date based on the best information the Company has received to date, in accordance with Accounting Standards Codification Topic 805, Business Combinations ("ASC 805"). These estimates will be revised as the Company receives final appraisal of tangible and intangible assets, certain liabilities assumed and other information related to the Tulsa Programs acquisition. Accordingly, the amounts below report the Company's best estimate of fair value based on the information available at this time: December 30, 2014 Inventory $ 78,660 Property and equipment 15,409 Goodwill 73,800 Deferred taxes 48,608 Other assets 68,941 Total assets $ 285,418 Accounts payable $ 1,782 Accrued expenses 16,810 Acquired contract liabilities 358,735 Other noncurrent liabilities 68,091 Total liabilities $ 445,418 Based on the information accumulated through the reporting date, the Company has recognized an accrued warranty liability of $74,132 and a related indemnification asset of $68,941 for amounts reimbursed by the seller. The provisional amounts recognized are based on the Company's best estimate using information that it has obtained as of the reporting date. The Company will finalize its estimate once it is able to determine that it has obtained all necessary information that existed as of the acquisition date related to this matter or one year following the acquisition of the Tulsa Programs, whichever is earlier. The Tulsa Programs acquisition has been accounted for under the acquisition method and, accordingly, is included in the condensed consolidated financial statements from the effective date of acquisition. The Company incurred $5,000 in acquisition-related costs in connection with the Tulsa Programs acquisition. Acquisition of North American Aircraft Services, Inc. Effective October 17, 2014, the Company acquired the ownership of all of the outstanding shares of North American Aircraft Services, Inc. and its affiliates ("NAAS"). NAAS is based in San Antonio, Texas, with fixed-based operator units throughout the United States as well as international locations and delivers line maintenance and repair, fuel leak detection and fuel bladder cell repair services. The acquired business operates as Triumph Aviation Services - NAAS Division and its results are included in Aftermarket Services Group from the date of acquisition. The purchase price for the NAAS acquisition was $44,520 , net of working capital adjustment of $167 . Goodwill in the amount of $25,217 was recognized for this acquisition and is calculated as the excess of consideration transferred over the net assets recognized and represents future economic benefits arising from other assets acquired that could not be individually identified and separately recognized such as assembled workforce. The goodwill is not deductible for tax purposes. The Company has also identified an intangible asset related to customer relationships valued at $17,000 with a weighted-average life of 11.0 years. The following condensed balance sheet represents the amounts assigned to each major asset and liability caption in the aggregate from the acquisition of NAAS, in accordance with ASC 805: October 17, 2014 Cash $ 818 Accounts receivable 4,939 Inventory 848 Property and equipment 216 Goodwill 25,217 Intangible assets 17,000 Other assets 225 Total assets $ 49,263 Accounts payable $ 232 Accrued expenses 911 Other noncurrent liabilities 3,600 Total liabilities $ 4,743 The Company finalized its estimate after it was able to determine that it had obtained all necessary information that existed as of the acquisition date related to these amounts. The NAAS acquisition has been accounted for under the acquisition method and, accordingly, is included in the condensed consolidated financial statements from the effective date of acquisition. The NAAS acquisition was funded by the Company's long-term borrowings in place at the date of acquisition. The Company incurred $654 in acquisition-related costs in connection with the NAAS acquisition. Acquisition of GE Aviation - Hydraulic Actuation Effective June 27, 2014, the Company acquired the hydraulic actuation business of GE Aviation ("GE"). GE's hydraulic actuation business consisted of three facilities located in Yakima, Washington, Cheltenham, England and the Isle of Man (IOM) and is a technology leader in actuation systems. GE's key product offerings include complete landing gear actuation systems, door actuation, nose-wheel steerings, hydraulic fuses, manifolds flight control actuation and locking mechanisms for the commercial, military and business jet markets. The acquired business operates as Triumph Actuation Systems-Yakima and Triumph Actuation Systems-UK & IOM and its results are included in Aerospace Systems Group from the date of acquisition. The purchase price for the GE acquisition was $75,609 , which includes cash paid at closing, working capital adjustments and deferred payments of $6,000 , which was paid in fiscal 2016. Goodwill in the amount of $150,772 was recognized for this acquisition and is calculated as the excess of consideration transferred over the net assets recognized and represents future economic benefits arising from other assets acquired that could not be individually identified and separately recognized such as assembled workforce. The goodwill is deductible for tax purposes. The Company has also identified intangible assets including customer relationships and technology valued at $26,472 with a weighted-average life of 12.0 years. The following condensed balance sheet represents the amounts assigned to each major asset and liability caption in the aggregate from the acquisition of GE, in accordance with ASC 805: June 27, 2014 Cash $ 4,608 Accounts receivable 35,376 Inventory 49,585 Property and equipment 30,985 Goodwill 150,772 Intangible assets 26,472 Deferred taxes 63,341 Other assets 2,023 Total assets $ 363,162 Accounts payable $ 17,734 Accrued expenses 37,483 Acquired contract liabilities 232,336 Total liabilities $ 287,553 Based on the information accumulated during the measurement period, and the Company's assessment of the probable outcome of warranty claims, the Company has recognized a liability of $24,514 . The Company finalized its estimates after it was able to determine that it had obtained all necessary information that existed as of the acquisition date related to these matters. The GE acquisition has been accounted for under the acquisition method and, accordingly, is included in the condensed consolidated financial statements from the effective date of acquisition. The GE acquisition was funded by the Company's long-term borrowings in place at the date of acquisition. The Company incurred $1,834 in acquisition-related costs in connection with the GE acquisition. The acquisitions of the Tulsa Programs, NAAS and GE are referred to in this report as the "fiscal 2015 acquisitions." The pro forma results presented below include the effects of the GE acquisition as if it had been consummated as of April 1, 2014. The pro forma results include the amortization associated with an estimate of acquired intangible assets and interest expense on debt to fund these acquisitions, as well as fair value adjustments for property and equipment and off-market contracts. To better reflect the combined operating results, nonrecurring charges directly attributable to the transaction have been excluded. In addition, the pro forma results do not include any expected benefits of the acquisition. Accordingly, the pro forma results are not necessarily indicative of either future results of operations or results that might have been achieved had the acquisition been consummated as of April 1, 2014, and have been included in the Company's results of operations for fiscal years 2016 and 2015. Three Months Ended September 30, Six Months Ended September 30, 2015 2014 2015 2014 Net sales $ 954,774 $ 994,123 $ 1,914,412 $ 1,941,965 Net income 61,612 67,446 124,343 197,560 Earnings per share—basic $ 1.25 $ 1.32 $ 2.53 $ 3.85 Earnings per share—diluted $ 1.25 $ 1.32 $ 2.52 $ 3.83

INVENTORIES

INVENTORIES	6 Months Ended
	Sep. 30, 2015
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories are stated at the lower of cost (average-cost or specific-identification methods) or market. The components of inventories are as follows: September 30, 2015 March 31, 2015 Raw materials $ 88,279 $ 73,168 Work-in-process, including manufactured and purchased components 1,490,091 1,305,390 Finished goods 116,813 91,639 Less: unliquidated progress payments (138,696 ) (189,923 ) Total inventories $ 1,556,487 $ 1,280,274 Work-in-process inventory includes capitalized pre-production costs. Capitalized pre-production costs include nonrecurring engineering, planning and design, including applicable overhead, incurred before production is manufactured on a regular basis. Significant customer-directed work changes can also cause pre-production costs to be incurred. These costs are typically recovered over a contractually determined number of ship-set deliveries and the Company believes these amounts will be fully recovered. The balance of capitalized pre-production costs related to the Company's contracts with Bombardier for the Global 7000/8000 program ("Bombardier") and Embraer for the second generation E-Jet ("Embraer") are as follows: September 30, 2015 March 31, 2015 Bombardier $ 308,311 $ 238,871 Embraer 118,229 68,112 Total $ 426,540 $ 306,983 The Company is still in the pre-production stages for the Bombardier and Embraer programs, as these aircrafts are not scheduled to enter service until 2018 or later. The transition of these programs from development to recurring production levels is dependent upon the success of the programs achieving flight testing and certification, as well as the ability of the Bombardier and Embraer programs to generate acceptable levels of aircraft sales. The failure to achieve these milestones and level of sales or significant cost overruns may result in an impairment of the capitalized pre-production costs.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt consists of the following: September 30, 2015 March 31, 2015 Revolving line of credit $ 314,350 $ 148,255 Term loan 346,875 356,250 Receivable securitization facility 178,700 100,000 Equipment leasing facility and other capital leases 86,679 91,913 Senior notes due 2021 375,000 375,000 Senior notes due 2022 300,000 300,000 Other debt 7,978 7,978 Less: Debt issuance costs (9,887 ) (10,796 ) 1,599,695 1,368,600 Less: Current portion 43,048 42,255 $ 1,556,647 $ 1,326,345 Revolving Credit Facility In May 2014, the Company amended the Credit Facility (defined below) with its lenders to (i) increase the maximum amount allowed for the receivable securitization facility (the “Securitization Facility”) and (ii) amend certain other terms and covenants. In November 2013, the Company amended and restated its existing credit agreement (the “Credit Facility”) with its lenders to (i) provide for a $375,000 Term Loan with a maturity date of May 14, 2019 (the "2013 Term Loan"), (ii) maintain a Revolving Line of Credit under the Credit Facility of $1,000,000 with a $250,000 accordion feature, (iii) extend the maturity date to November 19, 2018, and (iv) amend certain other terms and covenants. In connection with the amendment to the Credit Facility, the Company incurred $2,795 of financing costs. These costs, along with the $6,507 of unamortized financing costs prior to the amendment, are being amortized over the remaining term of the Credit Facility. The Company will repay the outstanding principal amount of the 2013 Term Loan in quarterly installments, on the first business day of each January, April, July and October, commencing April 2014. The obligations under the Credit Facility and related documents are secured by liens on substantially all assets of the Company and its domestic subsidiaries pursuant to a Second Amended and Restated Guarantee and Collateral Agreement, dated as of November 19, 2013, among the administrative agent, the Company and the subsidiaries of the Company party thereto. Pursuant to the Credit Facility, the Company can borrow, repay and re-borrow revolving credit loans, and cause to be issued letters of credit, in an aggregate principal amount not to exceed $1,000,000 outstanding at any time. The Credit Facility bears interest at either: (i) LIBOR plus between 1.38% and 2.50% ; (ii) the prime rate; or (iii) an overnight rate at the option of the Company. The applicable interest rate is based upon the Company’s ratio of total indebtedness to earnings before interest, taxes, depreciation and amortization. In addition, the Company is required to pay a commitment fee of between 0.25% and 0.45% on the unused portion of the Credit Facility. The Company’s obligations under the Credit Facility are guaranteed by the Company’s domestic subsidiaries. At September 30, 2015 , there were $314,350 in borrowings and $25,672 in letters of credit outstanding under the Revolving Line of Credit provisions of the Credit Facility primarily to support insurance policies. At March 31, 2015 , there were $148,255 in borrowings and $35,384 in letters of credit outstanding under the Revolving Line of Credit provisions of the Credit Facility primarily to support insurance policies. The level of unused borrowing capacity under the Revolving Line of Credit provisions of the Credit Facility varies from time to time depending in part upon its compliance with financial and other covenants set forth in the related agreement. The Credit Facility contains certain affirmative and negative covenants, including limitations on specified levels of indebtedness to earnings before interest, taxes, depreciation and amortization, and interest coverage requirements, and includes limitations on, among other things, liens, mergers, consolidations, sales of assets, and incurrence of debt. If an event of default were to occur under the Credit Facility, the lenders would be entitled to declare all amounts borrowed under it immediately due and payable. The occurrence of an event of default under the Credit Facility could also cause the acceleration of obligations under certain other agreements. The Company is currently in compliance with all such covenants. As of September 30, 2015 , the Company had borrowing capacity under this facility of $659,978 after reductions for borrowings and letters of credit outstanding under the facility. In connection with the Company amending and restating the Credit Facility to add the 2013 Term Loan, the Company also entered into an interest rate swap agreement through November 2018 to reduce its exposure to interest on the variable rate portion of its long-term debt. On the date of inception, the Company designated the interest rate swap as a cash flow hedge in accordance with FASB guidance on accounting for derivatives and hedges and linked the interest rate swap to the 2013 Term Loan. The Company formally documented the hedging relationship between 2013 Term Loan and the interest rate swap, as well as its risk-management objective and strategy for undertaking the hedge, the nature of the risk being hedged, how the hedging instrument's effectiveness will be assessed and a description of the method of measuring the ineffectiveness. The Company also formally assesses, both at the hedge's inception and on a quarterly basis, whether the derivative item is highly effective offsetting changes in cash flows. As of September 30, 2015 and March 31, 2015 , the interest rate swap agreement had a notional amount of $346,875 and $356,250 , respectively. As of September 30, 2015 and March 31, 2015 , the interest rate swap agreement had a fair value of $4,378 and $2,743 , respectively, which is recorded in other noncurrent liabilities with an offset to other comprehensive income, net of applicable taxes (Level 2). The interest rate swap settles on a monthly basis when interest payments are made. These settlements occur through the maturity date. Receivables Securitization Facility In November 2014, the Company amended its $225,000 Securitization Facility, increasing the purchase limit from $175,000 to $225,000 and extending the term through November 2017. In connection with the Securitization Facility, the Company sells on a revolving basis certain trade 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. As of September 30, 2015 , the maximum amount available under the Securitization Facility was $225,000 . Interest rates are based on LIBOR plus a program fee and a commitment fee. The program fee is 0.40% on the amount outstanding under the Securitization Facility. Additionally, the commitment fee is 0.40% on 100.00% of the maximum amount available under the Securitization Facility. At September 30, 2015 , there was $178,700 outstanding under the Securitization Facility. In connection with amending the Securitization Facility, the Company incurred approximately $252 of financing costs. These costs, along with the $341 of unamortized financing costs prior to the amendment, are being amortized over the life of the Securitization Facility. The Company securitizes its trade accounts receivable, which are generally non-interest bearing, in transactions that are accounted for as borrowings pursuant to the Transfers and Servicing topic of the ASC 860. The agreement governing the Securitization Facility contains restrictions and covenants which include 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 of the Company's assets. Capital Leases During the six months ended September 30, 2015 and 2014 , respectively, the Company did not enter into any new leases. During the six months ended September 30, 2015 and 2014 , the Company obtained financing for existing fixed assets in the amount of $6,497 and $20,160 , respectively. Senior Notes Due 2021 On February 26, 2013, the Company issued $375,000 principal amount of 4.875% Senior Notes due 2021 (the "2021 Notes"). The 2021 Notes were sold at 100% of principal amount and have an effective interest yield of 4.875% . Interest on the 2021 Notes accrues at the rate of 4.875% per annum and is payable semiannually in cash in arrears on April 1 and October 1 of each year, commencing on October 1, 2013. In connection with the issuance of the 2021 Notes, the Company incurred approximately $6,327 of costs, which are a direct deduction to the face amount of the note and are being amortized on the effective interest method over the term of the 2021 Notes. The 2021 Notes are the Company's senior unsecured obligations and rank equally in right of payment with all of its other existing and future senior unsecured indebtedness and senior in right of payment to all of its existing and future subordinated indebtedness. The 2021 Notes are guaranteed on a full, joint and several basis by each of the Guarantor Subsidiaries. The Company may redeem some or all of the 2021 Notes prior to April 1, 2017, by paying a "make-whole" premium. The Company may redeem some or all of the 2021 Notes on or after April 1, 2017, at specified redemption prices. In addition, prior to April 1, 2016, the Company may redeem up to 35% of the 2021 Notes with the net proceeds of certain equity offerings at a redemption price equal to 104.875% of the aggregate principal amount plus accrued and unpaid interest, if any, subject to certain limitations set forth in the indenture governing the 2021 Notes (the "2021 Indenture"). The Company is obligated to offer to repurchase the 2021 Notes at a price of (i) 101% of their principal amount plus accrued and unpaid interest, if any, as a result of certain change-of-control events, and (ii) 100% of their principal amount plus accrued and unpaid interest, if any, in the event of certain asset sales. These restrictions and prohibitions are subject to certain qualifications and exceptions. The 2021 Indenture contains covenants that, among other things, limit the Company's ability and the ability of any of the Guarantor Subsidiaries to (i) grant liens on its assets, (ii) make dividend payments, other distributions or other restricted payments, (iii) incur restrictions on the ability of the Guarantor Subsidiaries to pay dividends or make other payments, (iv) enter into sale and leaseback transactions, (v) merge, consolidate, transfer or dispose of substantially all of their assets, (vi) incur additional indebtedness, (vii) use the proceeds from sales of assets, including capital stock of restricted subsidiaries, and (viii) enter into transactions with affiliates. Senior Notes Due 2022 On June 3, 2014, the Company issued $300,000 principal amount of 5.250% Senior Notes due 2022 (the "2022 Notes"). The 2022 Notes were sold at 100% of principal amount and have an effective interest yield of 5.250% . Interest on the 2022 Notes accrues at the rate of 5.250% per annum and is payable semiannually in cash in arrears on June 1 and December 1 of each year, commencing on December 1, 2014. In connection with the issuance of the 2022 Notes, the Company incurred approximately $4,990 of costs, which are a direct deduction to the face amount of the note and are being amortized on the effective interest method over the term of the 2022 Notes. The 2022 Notes are the Company's senior unsecured obligations and rank equally in right of payment with all of its other existing and future senior unsecured indebtedness and senior in right of payment to all of its existing and future subordinated indebtedness. The 2022 Notes are guaranteed on a full, joint and several basis by each of the Guarantor Subsidiaries. The Company may redeem some or all of the 2022 Notes prior to June 1, 2017, by paying a "make-whole" premium. The Company may redeem some or all of the 2022 Notes on or after June 1, 2017, at specified redemption prices. In addition, prior to June 1, 2017, the Company may redeem up to 35% of the 2022 Notes with the net proceeds of certain equity offerings at a redemption price equal to 105.250% of the aggregate principal amount plus accrued and unpaid interest, if any, subject to certain limitations set forth in the indenture governing the 2022 Notes (the "2022 Indenture"). The Company is obligated to offer to repurchase the 2022 Notes at a price of (i) 101% of their principal amount plus accrued and unpaid interest, if any, as a result of certain change-of-control events and (ii) 100% of their principal amount plus accrued and unpaid interest, if any, in the event of certain asset sales. These restrictions and prohibitions are subject to certain qualifications and exceptions. The 2022 Indenture contains covenants that, among other things, limit the Company's ability and the ability of any of the Guarantor Subsidiaries to (i) grant liens on its assets, (ii) make dividend payments, other distributions or other restricted payments, (iii) incur restrictions on the ability of the Guarantor Subsidiaries to pay dividends or make other payments, (iv) enter into sale and leaseback transactions, (v) merge, consolidate, transfer or dispose of substantially all of their assets, (vi) incur additional indebtedness, (vii) use the proceeds from sales of assets, including capital stock of restricted subsidiaries, and (viii) enter into transactions with affiliates. Senior Notes Due 2018 On June 23, 2014, the Company completed the redemption of the 8.63% Senior Notes due 2018 (the “2018 Notes”). The principal amount of $350,000 was redeemed at a price of 104.79% plus accrued and unpaid interest. As a result of the redemption, the Company recognized a pre-tax loss on redemption of $22,615 , consisting of early termination premium, write-off of unamortized discount and deferred financing fees and was recorded on the Condensed Consolidated Statements of Income as a component of "Interest expense and other" for the six months ended September 30, 2014 . Convertible Senior Subordinated Notes On May 22, 2014, the Company announced the redemption of the convertible senior subordinated notes (the “Convertible Notes”). The redemption price for the Convertible Notes was equal to the sum of 100% of the principal amount of the Convertible Notes outstanding, plus accrued and unpaid interest on the Convertible Notes up to, but not including, the redemption date of June 23, 2014. The Convertible Notes were able to be converted at the option of the holder. The Convertible Notes were eligible for conversion upon meeting certain conditions as provided in the indenture governing the Convertible Notes. For the periods from January 1, 2011 through June 23, 2014, the Convertible Notes were eligible for conversion. During the six months ended September 30, 2014 , the Company settled the conversion of $12,834 in principal value of the Convertible Notes, with the principal and the conversion benefit settled in cash. To be included in the calculation of diluted earnings per share, the average price of the Company’s common stock for the quarter must exceed the conversion price per share of $27.12 . The average price of the Company's common stock for the six months ended September 30, 2014 , was $67.20 . Therefore, for the six months ended September 30, 2014 , there were 99,090 additional shares included in the calculation of diluted earnings per share. Financial Instruments Not Recorded at Fair Value The carrying amounts of certain of our financial instruments, including cash and cash equivalents, accounts receivable and accounts payable, approximate fair value because of their short maturities (Level 1 inputs). Carrying amounts and the related estimated fair values of the Company’s financial instruments not recorded at fair value in the financial statements are as follows: September 30, 2015 March 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 1,599,695 $ 1,566,174 $ 1,368,600 $ 1,358,306 The fair value of the long-term debt was calculated based on interest rates available for debt with terms and maturities similar to the Company’s existing debt arrangements, unless quoted market prices were available (Level 2 inputs).

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE The following is a reconciliation between the weighted-average outstanding shares used in the calculation of basic and diluted earnings per share: Three Months Ended September 30, Six Months Ended September 30, (in thousands) (in thousands) 2015 2014 2015 2014 Weighted-average common shares outstanding – basic 49,219 51,015 49,208 51,351 Net effect of dilutive stock options and nonvested stock 89 154 103 177 Potential common shares – convertible debt — — — 99 Weighted-average common shares outstanding – diluted 49,308 51,169 49,311 51,627

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2015
Income Tax Disclosure [Abstract]
INCOME TAXES	The Company follows the Income Taxes topic of the 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 de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. 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. As of September 30, 2015 and March 31, 2015 , the total amount of accrued income tax-related interest and penalties was $223 and $207 , respectively. As of September 30, 2015 and March 31, 2015 , the total amount of unrecognized tax benefits was $8,358 and $8,348 , respectively, of which $8,358 and $8,348 , respectively, 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. The effective income tax rate for the three months ended September 30, 2015 was 34.7% as compared to 32.1% for the three months ended September 30, 2014 . For the three months ended September 30, 2015 , the income tax provision included the benefit of $421 related to the effects of transfer pricing adjustments carried back to prior periods. For the three months ended September 30, 2014 , the income tax provision included the benefit of $1,999 from the decrease to the state deferred tax rates. The effective income tax rate for the six months ended September 30, 2015 , was 32.5% as compared to 34.2% for the six months ended September 30, 2014 . For the six months ended September 30, 2015 , the income tax provision included the benefit of $4,213 from a decrease to the state deferred tax rate and the benefit of $421 related to the effects of transfer pricing adjustments carried back to prior periods. For the six months ended September 30, 2014 , the income tax provision included an unrecognized tax benefits of $1,051 , an additional tax benefit related to a net operating loss carryback claim of $367 and the benefit of $1,999 from the decrease to the state deferred tax rates. With few exceptions, the Company is no longer subject to U.S. federal income tax examinations for fiscal years ended before March 31, 2011, state or local examinations for fiscal years ended before March 31, 2011, or foreign income tax examinations by tax authorities for fiscal years ended before March 31, 2009. As of September 30, 2015 , the Company was not subject to examination in any state jurisdiction. The Company has filed appeals in a prior state examination related to fiscal years ended March 31, 1999 through March 31, 2005. Because of net operating losses acquired as part of the acquisition of Vought, the Company is subject to U.S. federal income tax examinations and various state jurisdictions for the years ended December 31, 2001 and after related to previously filed Vought tax returns. The Company believes appropriate provisions for all outstanding issues have been made for all jurisdictions and all open years.

GOODWILL

GOODWILL	6 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL The following is a summary of the changes in the carrying value of goodwill by reportable segment, from March 31, 2015 through September 30, 2015 : Aerostructures Aerospace Systems Aftermarket Total Balance, March 31, 2015 $ 1,414,663 $ 523,253 $ 81,309 $ 2,019,225 Effect of exchange rate changes 435 3,194 (34 ) 3,595 Balance, September 30, 2015 $ 1,415,098 $ 526,447 $ 81,275 $ 2,022,820

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	6 Months Ended
	Sep. 30, 2015
Compensation and Retirement Disclosure [Abstract]
PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS The Company sponsors several defined benefit pension plans covering some of its employees. Certain employee groups are ineligible to participate in the plans or have ceased to accrue additional benefits under the plans based upon their service to the Company or years of service accrued under the defined benefit pension plans. Benefits under the defined benefit plans are based on years of service and, for most non-represented employees, on average compensation for certain years. It is the Company’s policy to fund at least the minimum amount required for all qualified plans, using actuarial cost methods and assumptions acceptable under U.S. Government regulations, by making payments into a separate trust. In addition to the defined benefit pension plans, the Company provides certain healthcare and life insurance benefits for eligible retired employees. Such benefits are unfunded. Employees achieve eligibility to participate in these contributory plans upon retirement from active service if they meet specified age and years of service requirements. Election to participate for some employees must be made at the date of retirement. Qualifying dependents at the date of retirement are also eligible for medical coverage. Current plan documents reserve the right to amend or terminate the plans at any time, subject to applicable collective bargaining requirements for represented employees. From time to time, changes have been made to the benefits provided to various groups of plan participants. Premiums charged to most retirees for medical coverage prior to age 65 are based on years of service and are adjusted annually for changes in the cost of the plans as determined by an independent actuary. In addition to this medical inflation cost-sharing feature, the plans also have provisions for deductibles, co-payments, coinsurance percentages, out-of-pocket limits, schedules of reasonable fees, preferred provider networks, coordination of benefits with other plans and a Medicare carve-out. 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 remeasurement, in 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 PBO or accumulated postretirement benefit obligation of the plan. In order to recognize the funded status, the Company determined the fair value of the plan assets. The majority of the plan assets are publicly traded investments which were valued based on the market price as of the date of remeasurement. Investments that are not publicly traded were valued based on the estimated fair value of those investments based on our evaluation of data from fund managers and comparable market data. Net Periodic Benefit Plan Costs The components of net periodic benefit costs (income) for our postretirement benefit plans are shown in the following table: Pension benefits Three Months Ended September 30, Six Months Ended September 30, 2015 2014 2015 2014 Components of net periodic benefit costs: Service cost $ 2,726 $ 3,257 $ 5,494 $ 6,513 Interest cost 22,755 21,950 45,432 43,902 Expected return on plan assets (40,855 ) (36,913 ) (81,709 ) (73,826 ) Amortization of prior service credits (1,059 ) (1,322 ) (2,205 ) (2,644 ) Amortization of net loss 2,468 — 4,990 — Curtailment charge — — 2,863 — Net periodic benefit income $ (13,965 ) $ (13,028 ) $ (25,135 ) $ (26,055 ) Other postretirement benefits Three Months Ended September 30, Six Months Ended September 30, 2015 2014 2015 2014 Components of net periodic benefit costs: Service cost $ 306 $ 717 $ 632 $ 1,434 Interest cost 2,056 3,082 4,126 6,164 Amortization of prior service credits (1,451 ) (1,132 ) (2,796 ) (2,264 ) Amortization of net loss (1,657 ) — (3,301 ) — Net periodic benefit (income) expense $ (746 ) $ 2,667 $ (1,339 ) $ 5,334 The Company periodically experiences events or makes changes to its benefit plans that result in special charges. Some require remeasurements. The following summarizes the key events whose effects on net periodic benefit costs are included in the tables above: • In April 2015, the Company's largest union-represented group of employees ratified a new collective bargaining agreement. The agreement includes an amendment to the retirement plan, for which actively employed participants will no longer continue to accrue a benefit after 30 years of service. This change resulted in a curtailment charge of approximately $2,863 and is presented on the accompanying Condensed Consolidated Statements of Income as "Curtailment charge"

STOCKHOLDERS' EQUITY STOCKHOLDE

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY	6 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	STOCKHOLDERS' EQUITY Accumulated Other Comprehensive Loss Changes in accumulated other comprehensive income (loss) ("AOCI") by component for the three and six months ended September 30, 2015 and 2014 , respectively, were as follows: Currency Translation Adjustment Unrealized Gains and Losses on Derivative Instruments Defined Benefit Pension Plans and Other Postretirement Benefits Total (1) Balance June 30, 2015 $ (35,818 ) $ (1,738 ) $ (142,566 ) $ (180,122 ) AOCI before reclassifications (15,658 ) (1,766 ) — (17,424 ) Amounts reclassified from AOCI — (34 ) (1,097 ) (2 ) (1,131 ) Net current period AOCI (15,658 ) (1,800 ) (1,097 ) (18,555 ) Balance September 30, 2015 $ (51,476 ) $ (3,538 ) $ (143,663 ) $ (198,677 ) Balance June 30, 2014 $ 7,402 $ 104 $ (22,135 ) $ (14,629 ) AOCI before reclassifications (16,827 ) 906 — (15,921 ) Amounts reclassified from AOCI — (31 ) (1,533 ) (2 ) (1,564 ) Net current period AOCI (16,827 ) 875 (1,533 ) (17,485 ) Balance September 30, 2014 $ (9,425 ) $ 979 $ (23,668 ) $ (32,114 ) Balance March 31, 2015 $ (46,751 ) $ (2,757 ) $ (149,402 ) $ (198,910 ) AOCI before reclassifications (4,725 ) (754 ) 5,666 187 Amounts reclassified from AOCI — (27 ) 73 (2 ) 46 Net current period AOCI (4,725 ) (781 ) 5,739 233 Balance September 30, 2015 $ (51,476 ) $ (3,538 ) $ (143,663 ) $ (198,677 ) Balance March 31, 2014 $ 198 $ 1,496 $ (20,602 ) $ (18,908 ) AOCI before reclassifications (9,623 ) (451 ) — (10,074 ) Amounts reclassified from AOCI — (66 ) (3,066 ) (2 ) (3,132 ) Net current period AOCI (9,623 ) (517 ) (3,066 ) (13,206 ) Balance September 30, 2014 $ (9,425 ) $ 979 $ (23,668 ) $ (32,114 ) (1) Net of tax. (2) Includes amortization of actuarial losses and recognized prior service (credits) costs, which are included in the net periodic pension cost of which a portion is allocated to production as inventoried costs.

SEGMENTS

SEGMENTS	6 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
SEGMENTS	SEGMENTS The Company has three reportable segments: the Aerostructures Group, the Aerospace Systems Group and the Aftermarket Services Group. The Company’s reportable segments are aligned with how the business is managed and the markets that the Company serves are viewed. 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 (“Adjusted EBITDA”) as a primary measure of segment profitability to evaluate performance of its segments and allocate resources. The Aerostructures segment consists of the Company’s operations that manufacture products primarily for the aerospace original equipment manufacturer ("OEM") market. The Aerostructures segment’s revenues are derived from the design, manufacture, assembly and integration of metallic and composite aerostructures and structural components, including aircraft wings, fuselage sections, tail assemblies, engine nacelles, flight control surfaces as well as helicopter cabins. Further, the segment’s operations also design and manufacture composite assemblies for floor panels and environmental control system ducts. These products are sold to various aerospace OEMs on a global basis. The Aerospace Systems segment consists of the Company’s operations that also manufacture products primarily for the aerospace OEM market, as well as the related aftermarket. The segment’s operations design and engineer mechanical and electromechanical controls, such as hydraulic systems, main engine gearbox assemblies, accumulators, mechanical control cables and non-structural cockpit components. These products are sold primarily to various aerospace OEMs on a global basis. The Aftermarket Services segment consists of the Company’s operations that provide maintenance, repair and overhaul services to both commercial and military markets on components and accessories manufactured by third parties. Maintenance, repair and overhaul revenues are derived from services on auxiliary power units, airframe and engine accessories, including constant-speed drives, cabin compressors, starters and generators and pneumatic drive units. In addition, the segment’s operations repair and overhaul thrust reversers, nacelle components and flight control surfaces. The segment’s operations also perform repair and overhaul services and supply spare parts for various types of gauges for a broad range of commercial airlines on a worldwide basis. Segment Adjusted EBITDA 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, including a curtailment charge, of $2,863 for the six months ended September 30, 2015 . 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 and the reconciliation of Adjusted EBITDA to operating income is as follows: Three Months Ended September 30, Six Months Ended September 30, 2015 2014 2015 2014 Net sales: Aerostructures $ 604,874 $ 632,510 $ 1,216,711 $ 1,244,670 Aerospace systems 280,155 288,902 557,803 508,754 Aftermarket services 73,777 74,343 148,522 141,951 Elimination of inter-segment sales (4,032 ) (1,632 ) (8,624 ) (4,347 ) $ 954,774 $ 994,123 $ 1,914,412 $ 1,891,028 Income before income taxes: Operating income (expense): Aerostructures $ 67,099 $ 70,008 $ 130,243 $ 138,827 Aerospace systems 46,140 46,214 97,393 83,567 Aftermarket services 9,125 11,620 19,112 22,124 Corporate (12,317 ) (13,144 ) (28,835 ) 110,704 110,047 114,698 217,913 355,222 Interest expense and other 15,631 15,386 33,747 57,746 $ 94,416 $ 99,312 $ 184,166 $ 297,476 Depreciation and amortization: Aerostructures $ 25,506 $ 25,314 $ 54,225 $ 50,835 Aerospace systems 14,251 11,147 26,205 20,665 Aftermarket services 2,428 1,926 4,890 3,803 Corporate 390 627 789 1,262 $ 42,575 $ 39,014 $ 86,109 $ 76,565 Amortization of acquired contract liabilities, net: Aerostructures $ 20,393 $ 4,783 $ 44,990 $ 9,900 Aerospace systems 10,011 10,082 20,512 13,932 $ 30,404 $ 14,865 $ 65,502 $ 23,832 Adjusted EBITDA: Aerostructures $ 72,212 $ 90,539 $ 139,478 $ 179,762 Aerospace systems 50,380 47,279 103,086 90,300 Aftermarket services 11,553 13,546 24,002 25,927 Corporate (11,927 ) (12,517 ) (25,183 ) (22,727 ) $ 122,218 $ 138,847 $ 241,383 $ 273,262 Capital expenditures: Aerostructures $ 12,897 $ 23,027 $ 24,523 $ 38,638 Aerospace systems 6,423 10,588 11,934 16,251 Aftermarket services 711 2,353 1,333 4,033 Corporate 81 29 338 152 $ 20,112 $ 35,997 $ 38,128 $ 59,074 September 30, 2015 March 31, 2015 Total Assets: Aerostructures $ 4,365,902 $ 4,091,852 Aerospace systems 1,432,958 1,460,064 Aftermarket services 368,746 375,752 Corporate 104,965 168,386 $ 6,272,571 $ 6,096,054 During the three months ended September 30, 2015 and 2014 , the Company had international sales of $188,308 and $191,849 , respectively. During the six months ended September 30, 2015 and 2014 , the Company had international sales of $379,625 and $351,683 , respectively.

SELECTED CONSOLIDATING FINANCIA

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS	6 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS	SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS The 2021 Notes and the 2022 Notes are fully and unconditionally guaranteed on a joint and several basis by the Guarantor Subsidiaries. The total assets, stockholders' equity, revenue, earnings and cash flows from operating activities of the Guarantor Subsidiaries exceeded a majority of the consolidated total of such items as of and for the periods reported. The only consolidated subsidiaries of the Company that are not guarantors of the 2021 Notes and the 2022 Notes (the “Non-Guarantor Subsidiaries”) are: (a) the receivables securitization special-purpose entity; and (b) the international operating subsidiaries. The following tables present condensed consolidating financial statements including the Company (the “Parent”), the Guarantor Subsidiaries, and the Non-Guarantor Subsidiaries. Such financial statements include summary Condensed Consolidating Balance Sheets as of September 30, 2015 and March 31, 2015 , Condensed Consolidating Statements of Comprehensive Income for the three and six months ended September 30, 2015 and 2014 , and Condensed Consolidating Statements of Cash Flows for the six months ended September 30, 2015 and 2014 . 12. SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Continued) SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS: September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Current assets: Cash and cash equivalents $ 612 $ 312 $ 38,165 $ — $ 39,089 Trade and other receivables, net 3,203 224,361 313,338 — 540,902 Inventories — 1,455,368 101,119 — 1,556,487 Rotable assets — 35,750 16,585 — 52,335 Deferred income taxes — 73,700 123 — 73,823 Prepaid expenses and other 4,336 17,694 6,745 — 28,775 Total current assets 8,151 1,807,185 476,075 — 2,291,411 Property and equipment, net 7,573 776,184 130,547 — 914,304 Goodwill and other intangible assets, net — 2,754,973 201,955 — 2,956,928 Other, net 12,903 79,806 17,219 — 109,928 Intercompany investments and advances 4,029,045 81,541 78,195 (4,188,781 ) — Total assets $ 4,057,672 $ 5,499,689 $ 903,991 $ (4,188,781 ) $ 6,272,571 Current liabilities: Current portion of long-term debt $ 23,720 $ 19,328 $ — $ — $ 43,048 Accounts payable 3,912 350,812 45,203 — 399,927 Accrued expenses 42,550 322,721 39,002 — 404,273 Total current liabilities 70,182 692,861 84,205 — 847,248 Long-term debt, less current portion 1,308,097 69,850 178,700 — 1,556,647 Intercompany advances 402,762 2,021,140 341,450 (2,765,352 ) — Accrued pension and other postretirement benefits, noncurrent 7,633 482,895 1,905 — 492,433 Deferred income taxes and other 11,617 1,047,351 59,893 — 1,118,861 Total stockholders’ equity 2,257,381 1,185,592 237,838 (1,423,429 ) 2,257,382 Total liabilities and stockholders’ equity $ 4,057,672 $ 5,499,689 $ 903,991 $ (4,188,781 ) $ 6,272,571 SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS: March 31, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Current assets: Cash and cash equivalents $ 620 $ 419 $ 31,578 $ — $ 32,617 Trade and other receivables, net 3,578 180,874 337,149 — 521,601 Inventories — 1,200,941 79,333 — 1,280,274 Rotable assets — 35,248 13,572 — 48,820 Deferred income taxes — 145,352 — — 145,352 Prepaid expenses and other 6,509 10,549 6,011 — 23,069 Total current assets 10,707 1,573,383 467,643 — 2,051,733 Property and equipment, net 8,209 807,070 135,455 — 950,734 Goodwill and other intangible assets, net — 2,780,855 204,735 — 2,985,590 Other, net 13,805 80,806 13,386 — 107,997 Intercompany investments and advances 4,062,058 81,540 63,897 (4,207,495 ) — Total assets $ 4,094,779 $ 5,323,654 $ 885,116 $ (4,207,495 ) $ 6,096,054 Current liabilities: Current portion of long-term debt $ 19,024 $ 23,231 $ — $ — $ 42,255 Accounts payable 8,919 382,143 38,072 — 429,134 Accrued expenses 38,275 326,694 46,879 — 411,848 Total current liabilities 66,218 732,068 84,951 — 883,237 Long-term debt, less current portion 1,155,299 71,046 100,000 — 1,326,345 Intercompany advances 719,525 1,769,564 407,722 (2,896,811 ) — Accrued pension and other postretirement benefits, noncurrent 7,517 527,741 3,123 — 538,381 Deferred income taxes and other 10,435 1,138,648 63,224 — 1,212,307 Total stockholders’ equity 2,135,785 1,084,587 226,096 (1,310,684 ) 2,135,784 Total liabilities and stockholders’ equity $ 4,094,779 $ 5,323,654 $ 885,116 $ (4,207,495 ) $ 6,096,054 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 876,282 $ 95,355 $ (16,863 ) $ 954,774 Operating costs and expenses: Cost of sales — 667,591 80,103 (16,863 ) 730,831 Selling, general and administrative 11,908 49,803 9,610 — 71,321 Depreciation and amortization 389 37,766 4,420 — 42,575 12,297 755,160 94,133 (16,863 ) 844,727 Operating (loss) income (12,297 ) 121,122 1,222 — 110,047 Intercompany interest and charges (50,709 ) 48,401 2,308 — — Interest expense and other 15,133 2,193 (1,695 ) — 15,631 Income before income taxes 23,279 70,528 609 — 94,416 Income tax expense 5,487 26,196 1,121 — 32,804 Net income 17,792 44,332 (512 ) — 61,612 Other comprehensive loss (1,800 ) (1,097 ) (15,658 ) — (18,555 ) Total comprehensive income (loss) $ 15,992 $ 43,235 $ (16,170 ) $ — $ 43,057 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended September 30, 2014 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 909,720 $ 90,664 $ (6,261 ) $ 994,123 Operating costs and expenses: Cost of sales — 705,399 72,307 (6,261 ) 771,445 Selling, general and administrative 12,493 47,264 9,013 — 68,770 Depreciation and amortization 626 34,512 3,876 — 39,014 Relocation costs — 196 — — 196 13,119 787,371 85,196 (6,261 ) 879,425 Operating (loss) income (13,119 ) 122,349 5,468 — 114,698 Intercompany interest and charges (52,345 ) 50,142 2,203 — — Interest expense and other 15,014 2,388 (2,016 ) — 15,386 Income before income taxes 24,212 69,819 5,281 — 99,312 Income tax expense 5,553 26,295 18 — 31,866 Net income 18,659 43,524 5,263 — 67,446 Other comprehensive income (loss) 1,456 (1,533 ) (17,408 ) — (17,485 ) Total comprehensive income (loss) $ 20,115 $ 41,991 $ (12,145 ) $ — $ 49,961 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Six Months Ended September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 1,761,725 $ 181,492 $ (28,805 ) $ 1,914,412 Operating costs and expenses: Cost of sales — 1,339,900 151,830 (28,805 ) 1,462,925 Selling, general and administrative 25,060 102,241 17,301 — 144,602 Depreciation and amortization 789 72,808 12,512 — 86,109 Curtailment charge 2,863 — — — 2,863 28,712 1,514,949 181,643 (28,805 ) 1,696,499 Operating (loss) income (28,712 ) 246,776 (151 ) — 217,913 Intercompany interest and charges (104,300 ) 99,913 4,387 — — Interest expense and other 29,648 5,083 (984 ) — 33,747 Income before income taxes 45,940 141,780 (3,554 ) — 184,166 Income tax expense 5,476 52,590 1,757 — 59,823 Net income (loss) 40,464 89,190 (5,311 ) — 124,343 Other comprehensive (loss) income (781 ) 5,739 (4,725 ) — 233 Total comprehensive income (loss) $ 39,683 $ 94,929 $ (10,036 ) $ — $ 124,576 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Six Months Ended September 30, 2014 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 1,752,016 $ 147,255 $ (8,243 ) $ 1,891,028 Operating costs and expenses: Cost of sales — 1,343,290 121,215 (8,243 ) 1,456,262 Selling, general and administrative 22,663 95,647 16,169 — 134,479 Depreciation and amortization 1,264 68,573 6,728 — 76,565 Relocation costs — 3,193 — — 3,193 Gain on legal settlement, net of expenses (134,693 ) — — — (134,693 ) (110,766 ) 1,510,703 144,112 (8,243 ) 1,535,806 Operating income 110,766 241,313 3,143 — 355,222 Intercompany interest and charges (105,634 ) 101,672 3,962 — — Interest expense and other 56,298 4,543 (3,095 ) — 57,746 Income before income taxes 160,102 135,098 2,276 — 297,476 Income tax expense (benefit) 51,737 51,370 (1,321 ) — 101,786 Net income 108,365 83,728 3,597 — 195,690 Other comprehensive loss (84 ) (3,066 ) (10,056 ) — (13,206 ) Total comprehensive income (loss) $ 108,281 $ 80,662 $ (6,459 ) $ — $ 182,484 12. SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Continued) CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS: For the Six Months Ended September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net income (loss) $ 40,464 $ 89,190 $ (5,311 ) $ — $ 124,343 Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities 4,328 (320,943 ) 7,972 5,845 (302,798 ) Net cash provided by (used in) operating activities 44,792 (231,753 ) 2,661 5,845 (178,455 ) Capital expenditures (338 ) (30,316 ) (7,474 ) — (38,128 ) Proceeds from sale of assets — 1,408 153 — 1,561 Acquisitions, net of cash acquired — 14 (6,000 ) — (5,986 ) Net cash used in investing activities (338 ) (28,894 ) (13,321 ) — (42,553 ) Net increase in revolving credit facility 166,094 — — — 166,094 Proceeds on issuance of debt — 6,497 101,800 — 108,297 Retirements and repayments of debt (9,511 ) (11,596 ) (23,100 ) — (44,207 ) Payments of deferred financing costs (143 ) — — — (143 ) Dividends paid (3,943 ) — — — (3,943 ) Repurchase of restricted shares for minimum tax obligation (96 ) — — — (96 ) Intercompany financing and advances (196,863 ) 265,639 (62,931 ) (5,845 ) — Net cash (used in) provided by financing activities (44,462 ) 260,540 15,769 (5,845 ) 226,002 Effect of exchange rate changes on cash — — 1,478 — 1,478 Net change in cash and cash equivalents (8 ) (107 ) 6,587 — 6,472 Cash and cash equivalents at beginning of period 620 419 31,578 — 32,617 Cash and cash equivalents at end of period $ 612 $ 312 $ 38,165 $ — $ 39,089 12. SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Continued) CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS: For the Six Months Ended September 30, 2014 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net income $ 108,365 $ 83,728 $ 3,597 $ — $ 195,690 Adjustments to reconcile net income to net cash (used in) provided by operating activities (218,022 ) 249,129 21,295 10,323 62,725 Net cash (used in) provided by operating activities (109,657 ) 332,857 24,892 10,323 258,415 Capital expenditures (152 ) (49,296 ) (9,626 ) — (59,074 ) Reimbursed capital expenditures — 553 — — 553 Proceeds from sale of assets — 1,124 68 — 1,192 Acquisitions, net of cash acquired — — (73,901 ) — (73,901 ) Net cash used in investing activities (152 ) (47,619 ) (83,459 ) — (131,230 ) Net increase in revolving credit facility 68,421 — — — 68,421 Proceeds on issuance of debt 300,000 20,160 22,800 — 342,960 Retirements and repayments of debt (391,725 ) (10,218 ) (25,400 ) — (427,343 ) Purchase of common stock (93,018 ) — — — (93,018 ) Payments of deferred financing costs (5,513 ) — — — (5,513 ) Dividends paid (4,090 ) — — — (4,090 ) Withholding of restricted shares for minimum tax obligation (673 ) — — — (673 ) Repayment of government grant — (3,198 ) — — (3,198 ) Proceeds from exercise of stock options 356 — — — 356 Intercompany financing and advances 233,859 (292,557 ) 69,021 (10,323 ) — Net cash provided by (used in) financing activities 107,617 (285,813 ) 66,421 (10,323 ) (122,098 ) Effect of exchange rate changes on cash — — (719 ) — (719 ) Net change in cash and cash equivalents (2,192 ) (575 ) 7,135 — 4,368 Cash and cash equivalents at beginning of period 2,820 1,149 25,029 — 28,998 Cash and cash equivalents at end of period $ 628 $ 574 $ 32,164 $ — $ 33,366

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2015
Commitments and Contingencies [Abstract]
Commitments and Contingencies Disclosure [Text Block]	COMMITMENTS AND CONTINGENCIES On June 13, 2013, American Brownfield MCIC, LLC (“American Brownfield”) filed suit in the 298th Judicial District Court of Dallas County, Texas against Triumph Aerostructures, LLC (“Triumph Aerostructures”), a wholly-owned subsidiary of the Company, for amounts allegedly owed pursuant to a lease dated October 24, 2007 (as modified and amended, the “Lease”) covering the use and occupancy of approximately 314 acres of land and improvements in Dallas, Texas, previously known as the Naval Weapons Industrial Reserve Plant (the “Jefferson Street Facility”). American Brownfield purchased the Jefferson Street Facility from the Department of the Navy, the owner of the Jefferson Street Facility and lessor under the Lease when the Lease was executed, and took an assignment of the Lease on October 5, 2012. Triumph Aerostructures surrendered possession of the Jefferson Street Facility to American Brownfield on March 28, 2014. In its current petition, American Brownfield asserts claims based on alleged breaches of the Lease, including claims for liquidated damages for failure to timely surrender possession, damages for breaches of environmental, maintenance and repair obligations, damages for failure to remove certain property that should have been removed and removal of other property that should have remained, and damages for failure to restore the premises or provide compensation for damage to the premises during occupancy. On June 15, 2015, American Brownfield served its expert reports which, for the first time, specified the amounts of the damages it would be claiming, totaling approximately $70,000 . The case is currently set for trial by jury on December 7, 2015. Extensive discovery, including numerous depositions and continuing production of voluminous documents, has been ongoing for several months and is expected to continue until shortly before trial. We believe Triumph Aerostructures has valid defenses and intend to continue to vigorously contest American Brownfield’s claims. In the ordinary course of business, the Company is involved in disputes, claims, lawsuits, and governmental and regulatory inquiries that it deems to be immaterial. Some may involve claims or potential claims of substantial damages, fines or penalties. While the Company cannot predict the outcome of any pending or future litigation or proceeding and no assurances can be given, the Company does not believe that any pending matter will have a material effect, individually or in the aggregate, on its financial position or results of operations.

RELOCATION COSTS RELOCATION COS

RELOCATION COSTS RELOCATION COSTS	6 Months Ended
	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	14. RELOCATION COSTS During the fiscal year ended March 31, 2013, the Company committed to relocate the operations of its largest facility in Dallas, Texas and to expand its Red Oak, Texas facility to accommodate this relocation. The Company incurred approximately $196 of expenses related to the relocation during the three months ended September 30, 2014 , shown separately on the accompanying Condensed Consolidated Statements of Income. The Company incurred approximately $3,193 of expenses related to the relocation during the six months ended September 30, 2014 , shown separately on the accompanying Condensed Consolidated Statements of Income. The relocation was substantially completed during the fiscal year ended March 31, 2014.

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition Revenues are generally recognized in accordance with the contract terms when products are shipped, delivery has occurred or services have been rendered, pricing is fixed and determinable, and collection is reasonably assured. A significant portion of the Company’s contracts are within the scope of the Revenue Recognition - Construction-Type and Production-Type Contracts topic of the ASC 605-35 and revenue and costs on contracts are recognized using the percentage-of-completion method of accounting. Accounting for the revenue and profit on a contract requires estimates of (1) the contract value or total contract revenue, (2) the total costs at completion, which is equal to the sum of the actual incurred costs to date on the contract and the estimated costs to complete the contract’s scope of work, and (3) the measurement of progress towards completion. Depending on the contract, the Company measures progress toward completion using either the cost-to-cost method or the units-of-delivery method of accounting, with the great majority measured under the units-of-delivery method of accounting. • Under the cost-to-cost method of accounting, progress toward completion is measured as the ratio of total costs incurred to estimated total costs at completion. Costs are recognized as incurred. Profit is determined based on estimated profit margin on the contract multiplied by the progress toward completion. Revenue represents the sum of costs and profit on the contract for the period. • Under the units-of-delivery method of accounting, revenue on a contract is recorded as the units are delivered and accepted during the period at an amount equal to the contractual selling price of those units. The costs recorded on a contract under the units-of-delivery method of accounting are equal to the total costs at completion divided by the total units to be delivered. As contracts can span multiple years, the Company often segments the contracts into production lots for the purposes of accumulating and allocating cost. Profit is recognized as the difference between revenue for the units delivered and the estimated costs for the units delivered. Adjustments to original estimates for a contract’s revenues, estimated costs at completion and estimated total profit are often required as work progresses under a contract, as experience is gained and as more information is obtained, even though the scope of work required under the contract may not change, or if contract modifications occur. These estimates are also sensitive to the assumed rate of production. Generally, the longer it takes to complete the contract quantity, the more relative overhead that contract will absorb. The impact of revisions in cost estimates is recognized on a cumulative catch-up basis in the period in which the revisions are made. Provisions for anticipated losses on contracts are recorded in the period in which they become evident (‘‘forward losses’’) and are first offset against costs that are included in inventory, with any remaining amount reflected in accrued contract liabilities in accordance with the Revenue Recognition - Construction-Type and Production-Type Contracts topic. Revisions in contract estimates, if significant, can materially affect results of operations and cash flows, as well as valuation of inventory. Furthermore, certain contracts are combined or segmented for revenue recognition in accordance with the Revenue Recognition - Construction-Type and Production-Type Contracts topic. For the three months ended September 30, 2015 , cumulative catch-up adjustments from changes in estimates, inclusive of changes in forward loss estimates, decreased operating income, net income and earnings per share by approximately $(6,794) , $(4,433) and $(0.09) , net of tax, respectively. The cumulative catch-up adjustments to operating income for the three months ended September 30, 2015 , included gross favorable adjustments of approximately $14,484 and gross unfavorable adjustments of approximately $(21,278) . For the three months ended September 30, 2014 , cumulative catch-up adjustments from changes in estimates decreased operating income, net income and earnings per share by approximately $(6,164) , $(4,186) and $(0.08) , net of tax, respectively. For the six months ended September 30, 2015 , cumulative catch-up adjustments from changes in estimates, inclusive of changes in forward loss estimates, decreased operating income, net income and earnings per share by approximately $(6,324) , $(4,270) and $(0.09) , net of tax, respectively. The cumulative catch-up adjustments to operating income for the six months ended September 30, 2015 , included gross favorable adjustments of approximately $26,862 and gross unfavorable adjustments of approximately $(33,186) . For the six months ended September 30, 2014 , cumulative catch-up adjustments from changes in estimates decreased operating income, net income and earnings per share by approximately $(4,450) , $(2,927) and $(0.06) , net of tax, respectively. Amounts representing contract change orders or claims are only included in revenue when such change orders or claims have been settled with the customer and to the extent that units have been delivered. Additionally, some contracts may contain provisions for revenue sharing, price re-determination, requests for equitable adjustments, change orders or cost and/or performance incentives. Such amounts or incentives are included in contract value when the amounts can be reliably estimated and their realization is reasonably assured. Although fixed-price contracts, which extend several years into the future, generally permit the Company to keep unexpected profits if costs are less than projected, the Company also bears the risk that increased or unexpected costs may reduce profit or cause the Company to sustain losses on the contract. In a fixed-price contract, the Company must fully absorb cost overruns, notwithstanding the difficulty of estimating all of the costs the Company will incur in performing these contracts and in projecting the ultimate level of revenue that may otherwise be achieved. As disclosed during fiscal 2015, we recognized a provision for forward losses associated with our long-term contract on the 747-8 program. There is still risk similar to what the Company has experienced on the 747-8 program. In particular, the Company's ability to manage risks related to supplier performance, execution of cost reduction strategies, hiring and retaining skilled production and management personnel, quality and manufacturing execution, program schedule delays and many other risks, will determine the ultimate performance of these programs. Included in net sales of the Aerostructures and Aerospace Systems group is the non-cash amortization of acquired contract liabilities that were recognized as fair value adjustments through purchase accounting from various acquisitions. For the three months ended September 30, 2015 and 2014 , the Company recognized $30,404 and $14,865 , respectively, into net sales in the accompanying Condensed Consolidated Statements of Income. For the six months ended September 30, 2015 and 2014 , the Company recognized $65,502 and $23,832 , respectively, into net sales in the accompanying Condensed Consolidated Statements of Income. The Aftermarket Services Group provides repair and overhaul services, of which a small portion of services are provided under long-term power-by-the-hour contracts. The Company applies the proportional performance method of accounting to recognize revenue under these contracts. Revenue is recognized over the contract period as units are delivered based on the relative value in proportion to the total estimated contract consideration. In estimating the total contract consideration, management evaluates the projected utilization of its customers’ fleet over the term of the contract, in connection with the related estimated repair and overhaul servicing requirements to the fleet based on such utilization. Changes in utilization of the fleet by customers, among other factors, may have an impact on these estimates and require adjustments to estimates of revenue to be realized.
Concentration of Credit Risk	Concentration of Credit Risk The Company’s trade 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 Boeing (representing commercial, military and space) represented approximately 30% and 13% of total trade accounts receivable as of September 30, 2015 and March 31, 2015 , respectively. Trade accounts receivable from Gulfstream Aerospace Corporation ("Gulfstream") represented approximately 15% and 16% of total trade accounts receivable as of September 30, 2015 and March 31, 2015 , respectively. The Company had no other concentrations of credit risk of more than 10% . Sales to Boeing for the six months ended September 30, 2015 , were $750,044 , or 39% of net sales, of which $634,416 , $97,452 and $18,176 were from the Aerostructures segment, the Aerospace Systems segment and Aftermarket Services segment, respectively. Sales to Boeing for the six months ended September 30, 2014 , were $826,698 , or 44% of net sales, of which $747,762 , $66,092 and $12,844 were from the Aerostructures segment, the Aerospace Systems segment and Aftermarket Services segment, respectively. Sales to Gulfstream for the six months ended September 30, 2015 , were $251,384 , or 13% of net sales, of which $249,601 , $1,776 and $7 were from the Aerostructures segment, the Aerospace Systems segment and Aftermarket Services segment, respectively. Sales to Gulfstream for the six months ended September 30, 2014 , were $137,635 , or 7% of net sales, of which $135,848 , $1,787 and $0 were from the Aerostructures segment, the Aerospace Systems segment and Aftermarket Services segment, 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 and Gulfstream, could have a material adverse effect on the Company and its operating subsidiaries.
Stock-Based Compensation	Stock-Based Compensation The Company recognizes compensation expense for share-based awards based on the fair value of those awards at the date of grant. Stock-based compensation expense for the three months ended September 30, 2015 and 2014 , was $1,199 and $1,060 , respectively. Stock-based compensation expense for the six months ended September 30, 2015 and 2014 , was $1,990 and $2,056 , respectively. The Company has classified share-based compensation within selling, general and administrative expenses to correspond with the same line item as the majority of the cash compensation paid to employees. Upon the exercise of stock options or vesting of restricted stock, the Company first transfers treasury stock, then issues new shares.
Intangibles policy [Policy Text Block]	Intangible Assets The components of intangible assets, net, are as follows: September 30, 2015 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.3 $ 678,189 $ (204,799 ) $ 473,390 Product rights, technology and licenses 11.7 56,014 (35,970 ) 20,044 Non-compete agreements and other 15.9 2,928 (654 ) 2,274 Tradenames Indefinite-lived 438,400 — 438,400 Total intangibles, net $ 1,175,531 $ (241,423 ) $ 934,108 March 31, 2015 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.5 $ 683,272 $ (180,765 ) $ 502,507 Product rights, technology and licenses 11.8 56,302 (33,208 ) 23,094 Non-compete agreements and other 15.9 2,929 (565 ) 2,364 Tradenames Indefinite-lived 438,400 — 438,400 Total intangibles, net $ 1,180,903 $ (214,538 ) $ 966,365 Amortization expense for the three months ended September 30, 2015 and 2014 , was $14,447 and $11,848 , respectively. Amortization expense for the six months ended September 30, 2015 and 2014 , was $30,411 and $23,479 , respectively.
Fair Value Measurement, Policy [Policy Text Block]	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 to its interest rate swap (see Note 5).
Product Warranty Disclosure [Text Block]	Warranty Reserves A reserve has been established to provide for the estimated future cost of warranties on our delivered products. The Company periodically reviews the reserves and adjustments are made accordingly. A provision for warranty on products delivered is made on the basis of historical experience and identified warranty issues. Warranties cover such factors as non-conformance to specifications and defects in material and workmanship. The majority of the Company's agreements include a three -year warranty, although certain programs have warranties up to 20 years. The warranty reserves as of September 30, 2015 and March 31, 2015 , were $107,290 and $112,140 , respectively
Cash Flow, Supplemental Disclosures [Text Block]	Supplemental Cash Flow Information The Company paid $2,220 for income taxes, net of refunds received, for the six months ended September 30, 2015 . The Company received $24,246 for income refunds, net of payments, for the six months ended September 30, 2014 . The Company made interest payments of $30,236 and $52,250 for the six months ended September 30, 2015 and 2014 , respectively. During the three and six months ended September 30, 2015 and 2014 , respectively, the Company did not finance any property and equipment additions through capital leases.

SUMMARY OF SIGNIFICANT ACCOUN24

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	6 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	September 30, 2015 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.3 $ 678,189 $ (204,799 ) $ 473,390 Product rights, technology and licenses 11.7 56,014 (35,970 ) 20,044 Non-compete agreements and other 15.9 2,928 (654 ) 2,274 Tradenames Indefinite-lived 438,400 — 438,400 Total intangibles, net $ 1,175,531 $ (241,423 ) $ 934,108 March 31, 2015 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.5 $ 683,272 $ (180,765 ) $ 502,507 Product rights, technology and licenses 11.8 56,302 (33,208 ) 23,094 Non-compete agreements and other 15.9 2,929 (565 ) 2,364 Tradenames Indefinite-lived 438,400 — 438,400 Total intangibles, net $ 1,180,903 $ (214,538 ) $ 966,365

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	6 Months Ended
	Sep. 30, 2015
Business Acquisition [Line Items]
Business Acquisition, Pro Forma Information [Table Text Block]	" Three Months Ended September 30, Six Months Ended September 30, 2015 2014 2015 2014 Net sales $ 954,774 $ 994,123 $ 1,914,412 $ 1,941,965 Net income 61,612 67,446 124,343 197,560 Earnings per share—basic $ 1.25 $ 1.32 $ 2.53 $ 3.85 Earnings per share—diluted $ 1.25 $ 1.32 $ 2.52 $ 3.83
NAAS [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	October 17, 2014 Cash $ 818 Accounts receivable 4,939 Inventory 848 Property and equipment 216 Goodwill 25,217 Intangible assets 17,000 Other assets 225 Total assets $ 49,263 Accounts payable $ 232 Accrued expenses 911 Other noncurrent liabilities 3,600 Total liabilities $ 4,743
GEActuation [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	June 27, 2014 Cash $ 4,608 Accounts receivable 35,376 Inventory 49,585 Property and equipment 30,985 Goodwill 150,772 Intangible assets 26,472 Deferred taxes 63,341 Other assets 2,023 Total assets $ 363,162 Accounts payable $ 17,734 Accrued expenses 37,483 Acquired contract liabilities 232,336 Total liabilities $ 287,553
General Donlee [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	"
Primus Corporation [Member]
Business Acquisition [Line Items]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	"

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Sep. 30, 2015
Preproduction Costs Related to Long Term Supply Arrangements, Costs Capitalized [Line Items]
Preproduction Costs Related to Long Term Supply Arrangements, Costs Capitalized [Table Text Block]	The balance of capitalized pre-production costs related to the Company's contracts with Bombardier for the Global 7000/8000 program ("Bombardier") and Embraer for the second generation E-Jet ("Embraer") are as follows: September 30, 2015 March 31, 2015 Bombardier $ 308,311 $ 238,871 Embraer 118,229 68,112 Total $ 426,540 $ 306,983
Schedule of components of inventories	September 30, 2015 March 31, 2015 Raw materials $ 88,279 $ 73,168 Work-in-process, including manufactured and purchased components 1,490,091 1,305,390 Finished goods 116,813 91,639 Less: unliquidated progress payments (138,696 ) (189,923 ) Total inventories $ 1,556,487 $ 1,280,274

LONG-TERM DEBT LONG-TERM DEBT (

LONG-TERM DEBT LONG-TERM DEBT (Tables)	6 Months Ended
	Sep. 30, 2015
Long-term debt
Schedule of Long-term Debt Instruments [Table Text Block]	September 30, 2015 March 31, 2015 Revolving line of credit $ 314,350 $ 148,255 Term loan 346,875 356,250 Receivable securitization facility 178,700 100,000 Equipment leasing facility and other capital leases 86,679 91,913 Senior notes due 2021 375,000 375,000 Senior notes due 2022 300,000 300,000 Other debt 7,978 7,978 Less: Debt issuance costs (9,887 ) (10,796 ) 1,599,695 1,368,600 Less: Current portion 43,048 42,255 $ 1,556,647 $ 1,326,345

LONG-TERM DEBT Fair Value Measu

LONG-TERM DEBT Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value, by Balance Sheet Grouping [Table Text Block]	September 30, 2015 March 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 1,599,695 $ 1,566,174 $ 1,368,600 $ 1,358,306

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2015
Earnings Per Share [Abstract]
Reconciliation between the weighted average outstanding shares used in calculation of basic and diluted earnings per share	Three Months Ended September 30, Six Months Ended September 30, (in thousands) (in thousands) 2015 2014 2015 2014 Weighted-average common shares outstanding – basic 49,219 51,015 49,208 51,351 Net effect of dilutive stock options and nonvested stock 89 154 103 177 Potential common shares – convertible debt — — — 99 Weighted-average common shares outstanding – diluted 49,308 51,169 49,311 51,627

GOODWILL (Tables)

GOODWILL (Tables)	6 Months Ended
	Sep. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying value of goodwill by reportable segment	Aerostructures Aerospace Systems Aftermarket Total Balance, March 31, 2015 $ 1,414,663 $ 523,253 $ 81,309 $ 2,019,225 Effect of exchange rate changes 435 3,194 (34 ) 3,595 Balance, September 30, 2015 $ 1,415,098 $ 526,447 $ 81,275 $ 2,022,820

PENSION AND OTHER POSTRETIREM31

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)	6 Months Ended
	Sep. 30, 2015
Pension Plan [Member]
Components of net periodic benefit costs:
Schedule of components of net periodic benefit cost and postretirement benefit plan	Pension benefits Three Months Ended September 30, Six Months Ended September 30, 2015 2014 2015 2014 Components of net periodic benefit costs: Service cost $ 2,726 $ 3,257 $ 5,494 $ 6,513 Interest cost 22,755 21,950 45,432 43,902 Expected return on plan assets (40,855 ) (36,913 ) (81,709 ) (73,826 ) Amortization of prior service credits (1,059 ) (1,322 ) (2,205 ) (2,644 ) Amortization of net loss 2,468 — 4,990 — Curtailment charge — — 2,863 — Net periodic benefit income $ (13,965 ) $ (13,028 ) $ (25,135 ) $ (26,055 )
Other postretirement
Components of net periodic benefit costs:
Schedule of components of net periodic benefit cost and postretirement benefit plan	Other postretirement benefits Three Months Ended September 30, Six Months Ended September 30, 2015 2014 2015 2014 Components of net periodic benefit costs: Service cost $ 306 $ 717 $ 632 $ 1,434 Interest cost 2,056 3,082 4,126 6,164 Amortization of prior service credits (1,451 ) (1,132 ) (2,796 ) (2,264 ) Amortization of net loss (1,657 ) — (3,301 ) — Net periodic benefit (income) expense $ (746 ) $ 2,667 $ (1,339 ) $ 5,334

STOCKHOLDERS' EQUITY STOCKHOL32

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Sep. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Comprehensive Income (Loss) Note [Text Block]	Changes in accumulated other comprehensive income (loss) ("AOCI") by component for the three and six months ended September 30, 2015 and 2014 , respectively, were as follows: Currency Translation Adjustment Unrealized Gains and Losses on Derivative Instruments Defined Benefit Pension Plans and Other Postretirement Benefits Total (1) Balance June 30, 2015 $ (35,818 ) $ (1,738 ) $ (142,566 ) $ (180,122 ) AOCI before reclassifications (15,658 ) (1,766 ) — (17,424 ) Amounts reclassified from AOCI — (34 ) (1,097 ) (2 ) (1,131 ) Net current period AOCI (15,658 ) (1,800 ) (1,097 ) (18,555 ) Balance September 30, 2015 $ (51,476 ) $ (3,538 ) $ (143,663 ) $ (198,677 ) Balance June 30, 2014 $ 7,402 $ 104 $ (22,135 ) $ (14,629 ) AOCI before reclassifications (16,827 ) 906 — (15,921 ) Amounts reclassified from AOCI — (31 ) (1,533 ) (2 ) (1,564 ) Net current period AOCI (16,827 ) 875 (1,533 ) (17,485 ) Balance September 30, 2014 $ (9,425 ) $ 979 $ (23,668 ) $ (32,114 ) Balance March 31, 2015 $ (46,751 ) $ (2,757 ) $ (149,402 ) $ (198,910 ) AOCI before reclassifications (4,725 ) (754 ) 5,666 187 Amounts reclassified from AOCI — (27 ) 73 (2 ) 46 Net current period AOCI (4,725 ) (781 ) 5,739 233 Balance September 30, 2015 $ (51,476 ) $ (3,538 ) $ (143,663 ) $ (198,677 ) Balance March 31, 2014 $ 198 $ 1,496 $ (20,602 ) $ (18,908 ) AOCI before reclassifications (9,623 ) (451 ) — (10,074 ) Amounts reclassified from AOCI — (66 ) (3,066 ) (2 ) (3,132 ) Net current period AOCI (9,623 ) (517 ) (3,066 ) (13,206 ) Balance September 30, 2014 $ (9,425 ) $ 979 $ (23,668 ) $ (32,114 )

SEGMENTS (Tables)

SEGMENTS (Tables)	6 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule of selected financial information for each reportable segment and the reconciliation of EBITDA to operating income	Three Months Ended September 30, Six Months Ended September 30, 2015 2014 2015 2014 Net sales: Aerostructures $ 604,874 $ 632,510 $ 1,216,711 $ 1,244,670 Aerospace systems 280,155 288,902 557,803 508,754 Aftermarket services 73,777 74,343 148,522 141,951 Elimination of inter-segment sales (4,032 ) (1,632 ) (8,624 ) (4,347 ) $ 954,774 $ 994,123 $ 1,914,412 $ 1,891,028 Income before income taxes: Operating income (expense): Aerostructures $ 67,099 $ 70,008 $ 130,243 $ 138,827 Aerospace systems 46,140 46,214 97,393 83,567 Aftermarket services 9,125 11,620 19,112 22,124 Corporate (12,317 ) (13,144 ) (28,835 ) 110,704 110,047 114,698 217,913 355,222 Interest expense and other 15,631 15,386 33,747 57,746 $ 94,416 $ 99,312 $ 184,166 $ 297,476 Depreciation and amortization: Aerostructures $ 25,506 $ 25,314 $ 54,225 $ 50,835 Aerospace systems 14,251 11,147 26,205 20,665 Aftermarket services 2,428 1,926 4,890 3,803 Corporate 390 627 789 1,262 $ 42,575 $ 39,014 $ 86,109 $ 76,565 Amortization of acquired contract liabilities, net: Aerostructures $ 20,393 $ 4,783 $ 44,990 $ 9,900 Aerospace systems 10,011 10,082 20,512 13,932 $ 30,404 $ 14,865 $ 65,502 $ 23,832 Adjusted EBITDA: Aerostructures $ 72,212 $ 90,539 $ 139,478 $ 179,762 Aerospace systems 50,380 47,279 103,086 90,300 Aftermarket services 11,553 13,546 24,002 25,927 Corporate (11,927 ) (12,517 ) (25,183 ) (22,727 ) $ 122,218 $ 138,847 $ 241,383 $ 273,262 Capital expenditures: Aerostructures $ 12,897 $ 23,027 $ 24,523 $ 38,638 Aerospace systems 6,423 10,588 11,934 16,251 Aftermarket services 711 2,353 1,333 4,033 Corporate 81 29 338 152 $ 20,112 $ 35,997 $ 38,128 $ 59,074
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	September 30, 2015 March 31, 2015 Total Assets: Aerostructures $ 4,365,902 $ 4,091,852 Aerospace systems 1,432,958 1,460,064 Aftermarket services 368,746 375,752 Corporate 104,965 168,386 $ 6,272,571 $ 6,096,054

SELECTED CONSOLIDATING FINANC34

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Tables)	6 Months Ended
	Sep. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Summary of consolidating balance sheets	September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Current assets: Cash and cash equivalents $ 612 $ 312 $ 38,165 $ — $ 39,089 Trade and other receivables, net 3,203 224,361 313,338 — 540,902 Inventories — 1,455,368 101,119 — 1,556,487 Rotable assets — 35,750 16,585 — 52,335 Deferred income taxes — 73,700 123 — 73,823 Prepaid expenses and other 4,336 17,694 6,745 — 28,775 Total current assets 8,151 1,807,185 476,075 — 2,291,411 Property and equipment, net 7,573 776,184 130,547 — 914,304 Goodwill and other intangible assets, net — 2,754,973 201,955 — 2,956,928 Other, net 12,903 79,806 17,219 — 109,928 Intercompany investments and advances 4,029,045 81,541 78,195 (4,188,781 ) — Total assets $ 4,057,672 $ 5,499,689 $ 903,991 $ (4,188,781 ) $ 6,272,571 Current liabilities: Current portion of long-term debt $ 23,720 $ 19,328 $ — $ — $ 43,048 Accounts payable 3,912 350,812 45,203 — 399,927 Accrued expenses 42,550 322,721 39,002 — 404,273 Total current liabilities 70,182 692,861 84,205 — 847,248 Long-term debt, less current portion 1,308,097 69,850 178,700 — 1,556,647 Intercompany advances 402,762 2,021,140 341,450 (2,765,352 ) — Accrued pension and other postretirement benefits, noncurrent 7,633 482,895 1,905 — 492,433 Deferred income taxes and other 11,617 1,047,351 59,893 — 1,118,861 Total stockholders’ equity 2,257,381 1,185,592 237,838 (1,423,429 ) 2,257,382 Total liabilities and stockholders’ equity $ 4,057,672 $ 5,499,689 $ 903,991 $ (4,188,781 ) $ 6,272,571 SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS: March 31, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Current assets: Cash and cash equivalents $ 620 $ 419 $ 31,578 $ — $ 32,617 Trade and other receivables, net 3,578 180,874 337,149 — 521,601 Inventories — 1,200,941 79,333 — 1,280,274 Rotable assets — 35,248 13,572 — 48,820 Deferred income taxes — 145,352 — — 145,352 Prepaid expenses and other 6,509 10,549 6,011 — 23,069 Total current assets 10,707 1,573,383 467,643 — 2,051,733 Property and equipment, net 8,209 807,070 135,455 — 950,734 Goodwill and other intangible assets, net — 2,780,855 204,735 — 2,985,590 Other, net 13,805 80,806 13,386 — 107,997 Intercompany investments and advances 4,062,058 81,540 63,897 (4,207,495 ) — Total assets $ 4,094,779 $ 5,323,654 $ 885,116 $ (4,207,495 ) $ 6,096,054 Current liabilities: Current portion of long-term debt $ 19,024 $ 23,231 $ — $ — $ 42,255 Accounts payable 8,919 382,143 38,072 — 429,134 Accrued expenses 38,275 326,694 46,879 — 411,848 Total current liabilities 66,218 732,068 84,951 — 883,237 Long-term debt, less current portion 1,155,299 71,046 100,000 — 1,326,345 Intercompany advances 719,525 1,769,564 407,722 (2,896,811 ) — Accrued pension and other postretirement benefits, noncurrent 7,517 527,741 3,123 — 538,381 Deferred income taxes and other 10,435 1,138,648 63,224 — 1,212,307 Total stockholders’ equity 2,135,785 1,084,587 226,096 (1,310,684 ) 2,135,784 Total liabilities and stockholders’ equity $ 4,094,779 $ 5,323,654 $ 885,116 $ (4,207,495 ) $ 6,096,054
Condensed consolidating statements of income	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Six Months Ended September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 1,761,725 $ 181,492 $ (28,805 ) $ 1,914,412 Operating costs and expenses: Cost of sales — 1,339,900 151,830 (28,805 ) 1,462,925 Selling, general and administrative 25,060 102,241 17,301 — 144,602 Depreciation and amortization 789 72,808 12,512 — 86,109 Curtailment charge 2,863 — — — 2,863 28,712 1,514,949 181,643 (28,805 ) 1,696,499 Operating (loss) income (28,712 ) 246,776 (151 ) — 217,913 Intercompany interest and charges (104,300 ) 99,913 4,387 — — Interest expense and other 29,648 5,083 (984 ) — 33,747 Income before income taxes 45,940 141,780 (3,554 ) — 184,166 Income tax expense 5,476 52,590 1,757 — 59,823 Net income (loss) 40,464 89,190 (5,311 ) — 124,343 Other comprehensive (loss) income (781 ) 5,739 (4,725 ) — 233 Total comprehensive income (loss) $ 39,683 $ 94,929 $ (10,036 ) $ — $ 124,576 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Six Months Ended September 30, 2014 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 1,752,016 $ 147,255 $ (8,243 ) $ 1,891,028 Operating costs and expenses: Cost of sales — 1,343,290 121,215 (8,243 ) 1,456,262 Selling, general and administrative 22,663 95,647 16,169 — 134,479 Depreciation and amortization 1,264 68,573 6,728 — 76,565 Relocation costs — 3,193 — — 3,193 Gain on legal settlement, net of expenses (134,693 ) — — — (134,693 ) (110,766 ) 1,510,703 144,112 (8,243 ) 1,535,806 Operating income 110,766 241,313 3,143 — 355,222 Intercompany interest and charges (105,634 ) 101,672 3,962 — — Interest expense and other 56,298 4,543 (3,095 ) — 57,746 Income before income taxes 160,102 135,098 2,276 — 297,476 Income tax expense (benefit) 51,737 51,370 (1,321 ) — 101,786 Net income 108,365 83,728 3,597 — 195,690 Other comprehensive loss (84 ) (3,066 ) (10,056 ) — (13,206 ) Total comprehensive income (loss) $ 108,281 $ 80,662 $ (6,459 ) $ — $ 182,484 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Six Months Ended September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 1,761,725 $ 181,492 $ (28,805 ) $ 1,914,412 Operating costs and expenses: Cost of sales — 1,339,900 151,830 (28,805 ) 1,462,925 Selling, general and administrative 25,060 102,241 17,301 — 144,602 Depreciation and amortization 789 72,808 12,512 — 86,109 Curtailment charge 2,863 — — — 2,863 28,712 1,514,949 181,643 (28,805 ) 1,696,499 Operating (loss) income (28,712 ) 246,776 (151 ) — 217,913 Intercompany interest and charges (104,300 ) 99,913 4,387 — — Interest expense and other 29,648 5,083 (984 ) — 33,747 Income before income taxes 45,940 141,780 (3,554 ) — 184,166 Income tax expense 5,476 52,590 1,757 — 59,823 Net income (loss) 40,464 89,190 (5,311 ) — 124,343 Other comprehensive (loss) income (781 ) 5,739 (4,725 ) — 233 Total comprehensive income (loss) $ 39,683 $ 94,929 $ (10,036 ) $ — $ 124,576 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 876,282 $ 95,355 $ (16,863 ) $ 954,774 Operating costs and expenses: Cost of sales — 667,591 80,103 (16,863 ) 730,831 Selling, general and administrative 11,908 49,803 9,610 — 71,321 Depreciation and amortization 389 37,766 4,420 — 42,575 12,297 755,160 94,133 (16,863 ) 844,727 Operating (loss) income (12,297 ) 121,122 1,222 — 110,047 Intercompany interest and charges (50,709 ) 48,401 2,308 — — Interest expense and other 15,133 2,193 (1,695 ) — 15,631 Income before income taxes 23,279 70,528 609 — 94,416 Income tax expense 5,487 26,196 1,121 — 32,804 Net income 17,792 44,332 (512 ) — 61,612 Other comprehensive loss (1,800 ) (1,097 ) (15,658 ) — (18,555 ) Total comprehensive income (loss) $ 15,992 $ 43,235 $ (16,170 ) $ — $ 43,057 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended September 30, 2014 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 909,720 $ 90,664 $ (6,261 ) $ 994,123 Operating costs and expenses: Cost of sales — 705,399 72,307 (6,261 ) 771,445 Selling, general and administrative 12,493 47,264 9,013 — 68,770 Depreciation and amortization 626 34,512 3,876 — 39,014 Relocation costs — 196 — — 196 13,119 787,371 85,196 (6,261 ) 879,425 Operating (loss) income (13,119 ) 122,349 5,468 — 114,698 Intercompany interest and charges (52,345 ) 50,142 2,203 — — Interest expense and other 15,014 2,388 (2,016 ) — 15,386 Income before income taxes 24,212 69,819 5,281 — 99,312 Income tax expense 5,553 26,295 18 — 31,866 Net income 18,659 43,524 5,263 — 67,446 Other comprehensive income (loss) 1,456 (1,533 ) (17,408 ) — (17,485 ) Total comprehensive income (loss) $ 20,115 $ 41,991 $ (12,145 ) $ — $ 49,961
Condensed consolidating statements of cash flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS: For the Six Months Ended September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net income (loss) $ 40,464 $ 89,190 $ (5,311 ) $ — $ 124,343 Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities 4,328 (320,943 ) 7,972 5,845 (302,798 ) Net cash provided by (used in) operating activities 44,792 (231,753 ) 2,661 5,845 (178,455 ) Capital expenditures (338 ) (30,316 ) (7,474 ) — (38,128 ) Proceeds from sale of assets — 1,408 153 — 1,561 Acquisitions, net of cash acquired — 14 (6,000 ) — (5,986 ) Net cash used in investing activities (338 ) (28,894 ) (13,321 ) — (42,553 ) Net increase in revolving credit facility 166,094 — — — 166,094 Proceeds on issuance of debt — 6,497 101,800 — 108,297 Retirements and repayments of debt (9,511 ) (11,596 ) (23,100 ) — (44,207 ) Payments of deferred financing costs (143 ) — — — (143 ) Dividends paid (3,943 ) — — — (3,943 ) Repurchase of restricted shares for minimum tax obligation (96 ) — — — (96 ) Intercompany financing and advances (196,863 ) 265,639 (62,931 ) (5,845 ) — Net cash (used in) provided by financing activities (44,462 ) 260,540 15,769 (5,845 ) 226,002 Effect of exchange rate changes on cash — — 1,478 — 1,478 Net change in cash and cash equivalents (8 ) (107 ) 6,587 — 6,472 Cash and cash equivalents at beginning of period 620 419 31,578 — 32,617 Cash and cash equivalents at end of period $ 612 $ 312 $ 38,165 $ — $ 39,089 For the Six Months Ended September 30, 2015 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net income (loss) $ 40,464 $ 89,190 $ (5,311 ) $ — $ 124,343 Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities 4,328 (320,943 ) 7,972 5,845 (302,798 ) Net cash provided by (used in) operating activities 44,792 (231,753 ) 2,661 5,845 (178,455 ) Capital expenditures (338 ) (30,316 ) (7,474 ) — (38,128 ) Proceeds from sale of assets — 1,408 153 — 1,561 Acquisitions, net of cash acquired — 14 (6,000 ) — (5,986 ) Net cash used in investing activities (338 ) (28,894 ) (13,321 ) — (42,553 ) Net increase in revolving credit facility 166,094 — — — 166,094 Proceeds on issuance of debt — 6,497 101,800 — 108,297 Retirements and repayments of debt (9,511 ) (11,596 ) (23,100 ) — (44,207 ) Payments of deferred financing costs (143 ) — — — (143 ) Dividends paid (3,943 ) — — — (3,943 ) Repurchase of restricted shares for minimum tax obligation (96 ) — — — (96 ) Intercompany financing and advances (196,863 ) 265,639 (62,931 ) (5,845 ) — Net cash (used in) provided by financing activities (44,462 ) 260,540 15,769 (5,845 ) 226,002 Effect of exchange rate changes on cash — — 1,478 — 1,478 Net change in cash and cash equivalents (8 ) (107 ) 6,587 — 6,472 Cash and cash equivalents at beginning of period 620 419 31,578 — 32,617 Cash and cash equivalents at end of period $ 612 $ 312 $ 38,165 $ — $ 39,089 12. SELECTED CONDENSED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Continued) CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS: For the Six Months Ended September 30, 2014 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net income $ 108,365 $ 83,728 $ 3,597 $ — $ 195,690 Adjustments to reconcile net income to net cash (used in) provided by operating activities (218,022 ) 249,129 21,295 10,323 62,725 Net cash (used in) provided by operating activities (109,657 ) 332,857 24,892 10,323 258,415 Capital expenditures (152 ) (49,296 ) (9,626 ) — (59,074 ) Reimbursed capital expenditures — 553 — — 553 Proceeds from sale of assets — 1,124 68 — 1,192 Acquisitions, net of cash acquired — — (73,901 ) — (73,901 ) Net cash used in investing activities (152 ) (47,619 ) (83,459 ) — (131,230 ) Net increase in revolving credit facility 68,421 — — — 68,421 Proceeds on issuance of debt 300,000 20,160 22,800 — 342,960 Retirements and repayments of debt (391,725 ) (10,218 ) (25,400 ) — (427,343 ) Purchase of common stock (93,018 ) — — — (93,018 ) Payments of deferred financing costs (5,513 ) — — — (5,513 ) Dividends paid (4,090 ) — — — (4,090 ) Withholding of restricted shares for minimum tax obligation (673 ) — — — (673 ) Repayment of government grant — (3,198 ) — — (3,198 ) Proceeds from exercise of stock options 356 — — — 356 Intercompany financing and advances 233,859 (292,557 ) 69,021 (10,323 ) — Net cash provided by (used in) financing activities 107,617 (285,813 ) 66,421 (10,323 ) (122,098 ) Effect of exchange rate changes on cash — — (719 ) — (719 ) Net change in cash and cash equivalents (2,192 ) (575 ) 7,135 — 4,368 Cash and cash equivalents at beginning of period 2,820 1,149 25,029 — 28,998 Cash and cash equivalents at end of period $ 628 $ 574 $ 32,164 $ — $ 33,366

SUMMARY OF SIGNIFICANT ACCOUN35

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Revenue Recognition
Net sales	$ 954,774	$ 994,123	$ 1,914,412	$ 1,891,028
Amortization of acquired contract liabilities	(30,404)	(14,865)	(65,502)	(23,832)
Aerostructures
Revenue Recognition
Net sales	604,874	632,510	1,216,711	1,244,670
Amortization of acquired contract liabilities	(20,393)	(4,783)	(44,990)	(9,900)
Aerospace Systems [Member]
Revenue Recognition
Net sales	280,155	288,902	557,803	508,754
Amortization of acquired contract liabilities	(10,011)	(10,082)	(20,512)	(13,932)
Aftermarket Services
Revenue Recognition
Net sales	$ 73,777	$ 74,343	$ 148,522	141,951
Accounts Receivable [Member] | Credit Concentration Risk [Member] | Gulfstream [Member]
Revenue Recognition
Concentration of Risk, Accounts Receivable, Major Customer	15.00%		15.00%		16.00%
Net sales | Gulfstream [Member]
Revenue Recognition
Net sales			$ 251,384	$ 137,635
Concentration Risk, Percentage			13.00%	7.00%
Net sales | Credit Concentration Risk [Member] | Gulfstream [Member] | Aerostructures
Revenue Recognition
Net sales			$ 249,601	$ 135,848
Net sales | Credit Concentration Risk [Member] | Gulfstream [Member] | Aerospace Systems [Member]
Revenue Recognition
Net sales			1,776	1,787
Net sales | Credit Concentration Risk [Member] | Gulfstream [Member] | Aftermarket Services
Revenue Recognition
Net sales			$ 7	$ 0

SUMMARY OF SIGNIFICANT ACCOUN36

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Concentration of Credit Risk
Net sales	$ 954,774	$ 994,123	$ 1,914,412	$ 1,891,028
Stock-Based Compensation
Share-based Compensation	1,199	1,060	1,990	2,056
Aerostructures Group [Member]
Concentration of Credit Risk
Net sales	604,874	632,510	1,216,711	1,244,670
Aerospace Systems
Concentration of Credit Risk
Net sales	280,155	288,902	557,803	508,754
Aftermarket Services
Concentration of Credit Risk
Net sales	$ 73,777	$ 74,343	$ 148,522	141,951
Net sales
Concentration of Credit Risk
Concentration Risk, Customer	.1
Boeing [Member] | Accounts Receivable [Member] | Credit Concentration Risk [Member]
Concentration of Credit Risk
Concentration of Risk, Accounts Receivable, Major Customer	30.00%		30.00%		13.00%
Boeing [Member] | Net sales
Concentration of Credit Risk
Concentration Risk, Percentage			39.00%
Net sales			$ 750,044
Boeing [Member] | Net sales | Credit Concentration Risk [Member]
Concentration of Credit Risk
Net sales				826,698
Boeing [Member] | Net sales | Credit Concentration Risk [Member] | Aerostructures Group [Member]
Concentration of Credit Risk
Net sales			634,416	747,762
Boeing [Member] | Net sales | Credit Concentration Risk [Member] | Aerospace Systems
Concentration of Credit Risk
Net sales			97,452	$ 66,092
Boeing [Member] | Net sales | Credit Concentration Risk [Member] | Aftermarket Services
Concentration of Credit Risk
Concentration Risk, Percentage				44.00%
Net sales			$ 18,176	$ 12,844

Intangibles (Details 3)

Intangibles (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Mar. 31, 2015
Intangible Assets
Accumulated Amortization	$ (241,423)		$ (241,423)			$ (214,538)
Total intangibles, gross	1,175,531		1,175,531			1,180,903
Total intangibles, net	934,108		934,108			966,365
Amortization expense	14,447	$ 11,848	$ 30,411	$ 23,479
Customer relationships
Intangible Assets
Weighted-Average Life (in years)			16 years 4 months		16 years 6 months
Gross Carrying Amount	678,189		$ 678,189			683,272
Accumulated Amortization	(204,799)		(204,799)			(180,765)
Finite-lived intangible assets, net	473,390		$ 473,390			502,507
Product rights and licenses
Intangible Assets
Weighted-Average Life (in years)			11 years 8 months	11 years 9 months
Gross Carrying Amount	56,014		$ 56,014			56,302
Accumulated Amortization	(35,970)		(35,970)			(33,208)
Finite-lived intangible assets, net	20,044		$ 20,044			23,094
Non-compete agreements and other
Intangible Assets
Weighted-Average Life (in years)			15 years 11 months		15 years 11 months
Gross Carrying Amount	2,928		$ 2,928			2,929
Accumulated Amortization	(654)		(654)			(565)
Finite-lived intangible assets, net	2,274		2,274			2,364
Tradename
Intangible Assets
Accumulated Amortization	0		0			0
Finite-lived intangible assets, net	438,400		438,400			438,400
Indefinite-lived intangible assets, net	$ 438,400		$ 438,400			$ 438,400

Supplemental Cash Flow Informat

Supplemental Cash Flow Information (Details 4) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
Income taxes paid, net of refunds received		$ 2,220	$ 24,246
Cash paid for interest		30,236	52,250
Capital Lease Obligations Incurred		6,497	$ 20,160
Gross Unfavorable Changes In Estimates [Member]
Business Acquisition [Line Items]
Change in Accounting Estimate	$ (21,278)	$ (33,186)

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Changes in Accounting Estimates (Details 5) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Change in Accounting Estimate [Line Items]
Capital Lease Obligations Incurred			$ 6,497	$ 20,160
Amortization of Acquired Contract Liabilities	$ 30,404	$ 14,865	65,502	23,832
Gross Favorable Change in Estimates [Member]
Change in Accounting Estimate [Line Items]
Change in Accounting Estimate	14,484		26,862
Gross Unfavorable Changes In Estimates [Member]
Change in Accounting Estimate [Line Items]
Change in Accounting Estimate	(21,278)		(33,186)
Comprehensive Income [Member]
Change in Accounting Estimate [Line Items]
Change in Accounting Estimate	(6,794)	(6,164)	(6,324)	(4,450)
Income, net [Member]
Change in Accounting Estimate [Line Items]
Change in Accounting Estimate	(4,433)	(4,186)	(4,270)	(2,927)
Diluted earings per share [Member]
Change in Accounting Estimate [Line Items]
Change in Accounting Estimate	0	0	0	0
Aerospace Systems [Member]
Change in Accounting Estimate [Line Items]
Amortization of Acquired Contract Liabilities	10,011	10,082	20,512	13,932
Aerostructures Group [Member]
Change in Accounting Estimate [Line Items]
Amortization of Acquired Contract Liabilities	$ 20,393	$ 4,783	$ 44,990	$ 9,900

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Product Warranty (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2015	Mar. 31, 2015
Product Warranties [Abstract]
Standard Product Warranty Description	3
Extended Product Warranty Description	20
Product Warranty Accrual	$ 107,290	$ 112,140

SUMMARY OF SIGNIFICANT ACCOUN41

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Share Repurchase (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2014	Sep. 30, 2015
Equity, Class of Treasury Stock [Line Items]
Treasury Stock, Shares, Acquired	1,386,740
Stock Repurchased During Period, Value	$ 93,018
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased		2,277,789

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended			6 Months Ended		12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015	Dec. 30, 2014	Oct. 17, 2014	Jun. 27, 2014
Acquisitions
Net sales		$ 954,774	$ 994,123	$ 1,914,412	$ 1,891,028
Goodwill		2,022,820		2,022,820		$ 2,019,225
Amortization of Acquired Contract Liabilities		30,404	14,865	65,502	23,832
Business Acquisition, Pro Forma Revenue		954,774	994,123	1,914,412	1,941,965
Business Acquisition, Pro Forma Net Income (Loss)		$ 61,612	$ 67,446	$ 124,343	$ 197,560
Business Acquisition, Pro Forma Earnings Per Share, Basic		$ 1.25	$ 1.32	$ 2.53	$ 3.85
Business Acquisition, Pro Forma Earnings Per Share, Diluted		$ 1.25	$ 1.32	$ 2.52	$ 3.83
Operating Income (Loss)		$ 110,047	$ 114,698	$ 217,913	$ 355,222
Tulsa [Member]
Acquisitions
Business Acquisition, Transaction Costs		5,000		5,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents							$ 160,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory							78,660
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment							15,409
Goodwill							73,800
Business Combination, Liabilities Arising from Contingencies, Amount Recognized							74,132
Business Combination, Indemnification Assets, Amount as of Acquisition Date							68,941
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent							48,608
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets							68,941
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets							285,418
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable							1,782
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other							16,810
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent							68,091
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities							$ 445,418
Amortization of Acquired Contract Liabilities				$ 358,735
NAAS [Member]
Acquisitions
Payments to Acquire Businesses, Gross		44,520				167
Business Acquisition, Transaction Costs								$ 654
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents								818
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables								4,939
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory								848
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment								216
Goodwill								25,217
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets								225
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets								49,263
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable								232
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other								911
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other								3,600
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities								4,743
GEActuation [Member]
Acquisitions
Payments to Acquire Businesses, Gross		$ 75,609				$ 6,000
Business Acquisition, Transaction Costs									$ 1,834
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents									4,608
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables									35,376
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory									49,585
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment									30,985
Goodwill									150,772
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles									26,472
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life		12 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Assets Noncurrent									63,341
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets									2,023
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets									363,162
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable									17,734
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other									37,483
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent									232,336
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities									287,553
Customer relationships | NAAS [Member]
Acquisitions
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles								$ 17,000
Acquired Finite-lived Intangible Asset, Weighted Average Useful Life		11 years
Subsequent Event [Member] | Fairchild [Member]
Acquisitions
Payments to Acquire Businesses, Gross	$ 54,593
Warranty [Member] | GEActuation [Member]
Acquisitions
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Other									$ 24,514

DISCONTINUED OPERATIONS AND ASS

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Discontinued operations and assets held for sale
Proceeds from sale of assets	$ 1,561	$ 1,192

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Mar. 31, 2015
Inventory [Line Items]
Raw materials	$ 88,279	$ 73,168
Work-in-process	1,490,091	1,305,390
Finished goods	116,813	91,639
Less: unliquidated progress payments	(138,696)	(189,923)
Total inventories	1,556,487	1,280,274
Preproduction Costs Related to Long-term Supply Arrangements, Costs Capitalized	426,540	306,983
Bombardier [Member]
Inventory [Line Items]
Preproduction Costs Related to Long-term Supply Arrangements, Costs Capitalized	308,311	238,871
Embraer [Member]
Inventory [Line Items]
Preproduction Costs Related to Long-term Supply Arrangements, Costs Capitalized	$ 118,229	$ 68,112

LONG-TERM DEBT, BY TYPE (Detail

LONG-TERM DEBT, BY TYPE (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Long-term debt
Long-term debt	$ 1,599,695			$ 1,599,695		$ 1,368,600
Less current portion	43,048			43,048		42,255
Long-term debt, less current portion	1,556,647			1,556,647		1,326,345
Payments of Financing Costs				143	$ 5,513
Revolving credit facility
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	1,000,000			1,000,000
Long-term debt	314,350			314,350		148,255
Payments of Financing Costs		$ 2,795
Asset-backed Securities [Member]
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	225,000			225,000		175,000
Long-term debt	178,700			178,700		100,000
Payments of Financing Costs	252
Capital Lease Obligations [Member]
Long-term debt
Long-term debt	86,679			86,679		91,913
Term loan credit agreement
Long-term debt
Long-term debt	346,875			346,875		356,250
Long-term debt, less current portion		375,000			$ 375,000
Senior notes due 2018
Long-term debt
Debt Instrument, Face Amount	$ 350,000			$ 350,000
Debt Instrument, Future Redemption Price as Percentage of Original Principal in Fifth Year	104.79%
Gains (Losses) on Extinguishment of Debt		$ (22,615)
Debt Instrument, Interest Rate, Stated Percentage	8.63%			8.63%
Senior notes due 2021 [Member]
Long-term debt
Long-term debt	$ 375,000			$ 375,000		$ 375,000
Debt Instrument, Interest Rate, Effective Percentage						4.875%
Debt Instrument, Face Amount						$ 375,000
Debt Instrument, Interest Rate, Stated Percentage						4.875%
Proceeds from Debt Instrument Percentage of Original Principal	100.00%
Payments of Financing Costs			$ 6,327
Debt Instrument, Redemption with Net Proceeds from Equity Offerings as Percentage of Original Principal	35.00%
Debt Instrument Redemption Price With Net Proceeds From Equity Offerings As Percentage Of Original Principal	104.875%
Debt Instrument, Repurchase Obligation Due to Change of Control, Percentage of Original Principal	101.00%
Debt Instrument, Repurchase Obligation Due to Certain Asset Sales Percentage of Original Principal	100.00%
Senior Notes Due 2022 [Member]
Long-term debt
Long-term debt	$ 300,000			300,000		$ 300,000
Debt Instrument, Interest Rate, Effective Percentage						5.25%
Debt Instrument, Face Amount						$ 300,000
Debt Instrument, Interest Rate, Stated Percentage						5.25%
Proceeds from Debt Instrument Percentage of Original Principal	100.00%
Payments of Financing Costs			$ 4,990
Debt Instrument, Redemption with Net Proceeds from Equity Offerings as Percentage of Original Principal	35.00%
Debt Instrument Redemption Price With Net Proceeds From Equity Offerings As Percentage Of Original Principal	105.25%
Debt Instrument, Repurchase Obligation Due to Change of Control, Percentage of Original Principal	101.00%
Debt Instrument, Repurchase Obligation Due to Certain Asset Sales Percentage of Original Principal	100.00%
Convertible senior subordinated notes
Long-term debt
Debt Instrument, Repurchase Requirement Percentage of Original Principal	100.00%
Notes Payable, Other Payables [Member]
Long-term debt
Long-term debt	$ 7,978			$ 7,978		$ 7,978

LONG-TERM DEBT (Details 2)

LONG-TERM DEBT (Details 2) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Long-term debt
Payments of Financing Costs				$ 143	$ 5,513
Outstanding borrowing amount	$ 1,599,695			1,599,695		$ 1,368,600
Revolving credit facility
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	1,000,000			1,000,000
Accordion feature	250,000			$ 250,000
Payments of Financing Costs		$ 2,795
Unamortized financing costs prior to amendment			$ 6,507
Debt Instrument, Description of Variable Rate Basis				LIBOR
Outstanding borrowing amount	314,350			$ 314,350		148,255
Letters of credit outstanding amount	25,672			25,672		35,384
Borrowing capacity under revolving credit facility after reductions for borrowings and letters of credit outstanding	659,978			659,978
Term loan credit agreement
Long-term debt
Outstanding borrowing amount	346,875			346,875		356,250
Asset-backed Securities [Member]
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	225,000			225,000		175,000
Payments of Financing Costs	252
Unamortized financing costs prior to amendment						341
Outstanding borrowing amount	$ 178,700			178,700		100,000
Program fee on the amount outstanding (as a percent)	0.40%
Line of Credit Facility, Commitment Fee Percentage	0.40%
Percentage of line of credit on which commitment fees are charged (as a percent)	100.00%
Capital Lease Obligations [Member]
Long-term debt
Outstanding borrowing amount	$ 86,679			86,679		91,913
Senior notes due 2018
Long-term debt
Debt instrument principal amount	350,000			350,000
Gains (Losses) on Extinguishment of Debt		$ (22,615)
Senior notes due 2021 [Member]
Long-term debt
Payments of Financing Costs			$ 6,327
Debt instrument principal amount						375,000
Outstanding borrowing amount	375,000			375,000		375,000
Notes Payable, Other Payables [Member]
Long-term debt
Outstanding borrowing amount	$ 7,978			$ 7,978		$ 7,978
Minimum [Member] | Revolving credit facility
Long-term debt
Debt Instrument, Basis Spread on Variable Rate	1.38%
Commitment fees (as a percent)	0.25%
Maximum [Member] | Revolving credit facility
Long-term debt
Debt Instrument, Basis Spread on Variable Rate	2.50%
Commitment fees (as a percent)	0.45%

LONG-TERM DEBT (Details 3)

LONG-TERM DEBT (Details 3) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Long-term debt
Capital lease obligations entered into to finance capital additions				$ 6,497	$ 20,160
Payments of Financing Costs				$ 143	$ 5,513
Average price of common stock (in dollars per share)					$ 67.20
Additional number of shares included in diluted earning per share calculation (in shares)	0	0		0	99
Long-term debt	$ 1,599,695			$ 1,599,695		$ 1,368,600
Unamortized Debt Issuance Expense	(9,887)			(9,887)		(10,796)
Revolving credit facility
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	1,000,000			1,000,000
Line of Credit Facility, Accordion Feature	250,000			250,000
Payments of Financing Costs		$ 2,795
Long-term debt	314,350			314,350		148,255
Secured Debt [Member]
Long-term debt
Derivative Asset, Fair Value, Gross Liability	(4,378)			(4,378)		(2,743)
Long-term debt	346,875			346,875		356,250
Asset-backed Securities [Member]
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	225,000			225,000		175,000
Payments of Financing Costs	252
Long-term debt	178,700			178,700		100,000
Equipment leasing facility and other capital leases
Long-term debt
Long-term debt	86,679			86,679		91,913
Senior notes due 2018
Long-term debt
Debt instrument principal amount	$ 350,000			$ 350,000
Debt instrument interest rate stated percentage (as a percent)	8.63%			8.63%
Percentage of principal amount at which the entity may redeem the note before November 15, 2014 (as a percent)	104.79%
Gains (Losses) on Extinguishment of Debt		$ 22,615
Senior notes due 2021 [Member]
Long-term debt
Debt instrument principal amount						$ 375,000
Debt instrument interest rate stated percentage (as a percent)						4.875%
Proceeds from loan, percentage of principal (as a percent)	100.00%
Payments of Financing Costs			$ 6,327
Debt Instrument, Redemption with Net Proceeds from Equity Offerings as Percentage of Original Principal	35.00%
Effective interest yield on principal amount (as a percent)						4.875%
Debt Instrument, Repurchase Obligation Due to Change of Control, Percentage of Original Principal	101.00%
Asset sales redemption price, percentage of principal (as a percent)	100.00%
The limit of the principal amount of the debt instrument which the entity may redeem (as a percent)	104.875%
Long-term debt	$ 375,000			$ 375,000		$ 375,000
Senior Notes Due 2022 [Member]
Long-term debt
Debt instrument principal amount						$ 300,000
Debt instrument interest rate stated percentage (as a percent)						5.25%
Proceeds from loan, percentage of principal (as a percent)	100.00%
Payments of Financing Costs			$ 4,990
Debt Instrument, Redemption with Net Proceeds from Equity Offerings as Percentage of Original Principal	35.00%
Effective interest yield on principal amount (as a percent)						5.25%
Debt Instrument, Repurchase Obligation Due to Change of Control, Percentage of Original Principal	101.00%
Asset sales redemption price, percentage of principal (as a percent)	100.00%
The limit of the principal amount of the debt instrument which the entity may redeem (as a percent)	105.25%
Long-term debt	$ 300,000			$ 300,000		$ 300,000
Convertible senior subordinated notes
Long-term debt
Percentage of principal amount that the holder of the note may require the entity to repurchase the debt instrument on October 1, 2011, 2016, and 2021 (as a percent)	100.00%
Conversion price (in dollars per share)	$ 27.12			$ 27.12
Notes Payable, Other Payables [Member]
Long-term debt
Long-term debt	$ 7,978			$ 7,978		7,978
Debt Conversion, Redeemer [Member] | Convertible senior subordinated notes
Long-term debt
Extinguishment of Debt, Amount				12,834
Reported Value Measurement [Member]
Long-term debt
Long-term debt	1,599,695			1,599,695		1,368,600
Estimate of Fair Value Measurement [Member]
Long-term debt
Long-term debt	$ 1,566,174			$ 1,566,174		$ 1,358,306

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted-average common shares outstanding-basic (in shares)	49,219	51,015	49,208	51,351
Net effect of dilutive stock options (in shares)	89	154	103	177
Potential common shares - convertible debt (in shares)	0	0	0	99
Weighted average common shares outstanding - diluted (in shares)	49,308	51,169	49,311	51,627

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Income Tax Provision [Line Items]
Total accrued income tax related interest and penalties	$ 223			$ 223		$ 207
Total amount of unrecognized tax benefits	8,358			8,358		8,348
Amount of unrecognized tax benefits that would impact the effective tax rate, if recognized	$ 8,358			$ 8,358		$ 8,348
Effective income tax rate (as a percent)	30.00%	30.00%		30.00%	30.00%
Income Tax Reconciliation, Nondeductible Expense	$ 421			$ 4,213
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Amount		$ 1,999
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount			$ 1,051
Effective Income Tax Rate Reconciliation, Deduction, Other, Amount			$ 367

GOODWILL (Details)

GOODWILL (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2015USD ($)
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 2,019,225
Effect of exchange rate changes and other	3,595
Balance at the end of the period	2,022,820
Aerostructures
Changes in the carrying value of goodwill
Balance at the beginning of the period	1,414,663
Effect of exchange rate changes and other	435
Balance at the end of the period	1,415,098
Aerospace Systems [Member]
Changes in the carrying value of goodwill
Balance at the beginning of the period	523,253
Effect of exchange rate changes and other	3,194
Balance at the end of the period	526,447
Aftermarket Services
Changes in the carrying value of goodwill
Balance at the beginning of the period	81,309
Effect of exchange rate changes and other	(34)
Balance at the end of the period	$ 81,275

PENSION AND OTHER POSTRETIREM51

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Components of net periodic benefit costs:
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements			$ (2,863)	$ 0
Pension Plan [Member]
Components of net periodic benefit costs:
Service cost	$ 2,726	$ 3,257	5,494	6,513
Interest cost	22,755	21,950	45,432	43,902
Expected return on plan assets	(40,855)	(36,913)	81,709	73,826
Amortization of prior service costs	(1,059)	(1,322)	(2,205)	(2,644)
Defined Benefit Plan, Amortization of Gains (Losses)	2,468	0	(4,990)	0
Net periodic benefit cost	(13,965)	(13,028)	(25,135)	(26,055)
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements	0	0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			(2,863)	0
Other postretirement
Components of net periodic benefit costs:
Service cost	306	717	632	1,434
Interest cost	2,056	3,082	4,126	6,164
Amortization of prior service costs	(1,451)	(1,132)	(2,796)	(2,264)
Defined Benefit Plan, Amortization of Gains (Losses)	(1,657)	0	(3,301)	0
Net periodic benefit cost	$ (746)	$ 2,667	$ (1,339)	$ 5,334

STOCKHOLDERS' EQUITY STOCKHOL52

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Jun. 30, 2015	Mar. 31, 2015	Mar. 31, 2014
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	$ (198,677)	$ (32,114)	$ (14,629)	$ (198,677)	$ (32,114)	$ (180,122)	$ (198,910)	$ (18,908)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	(15,658)		(16,827)	(4,725)	(9,623)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(1,766)	906		(754)	(451)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	(17,424)		(15,921)	187	(10,074)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	0		0	0	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(34)	(31)		(27)	(66)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1,131)		(1,564)	46	(3,132)
Other Comprehensive Income (Loss), Net of Tax	(18,555)	(17,485)	(17,485)	233	(13,206)
Accumulated Translation Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), before Tax	(51,476)	(9,425)	7,402	(51,476)	(9,425)	(35,818)	(46,751)	198
Other Comprehensive Income (Loss), Net of Tax	(15,658)		(16,827)	(4,725)	(9,623)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	(3,538)	979	104	(3,538)	979	(1,738)	(2,757)	1,496
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(1,766)		906	(754)	(451)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	34		31	(27)	(66)
Other Comprehensive Income (Loss), Net of Tax	(1,800)		875	(781)	(517)
Accumulated Defined Benefit Plans Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	(143,663)	$ (23,668)		(143,663)	(23,668)	$ (142,566)	$ (149,402)	$ (20,602)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0		0	5,666	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1,097		1,533	73	(3,066)
Other Comprehensive Income (Loss), Net of Tax	$ (1,097)		$ (1,533)	$ 5,739	$ (3,066)

SEGMENTS (Details)

SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Gain (Loss) Related to Litigation Settlement	$ 0	$ 0	$ 0	$ (134,693)
Net sales	954,774	994,123	1,914,412	1,891,028
Operating income (loss)	110,047	114,698	217,913	355,222
Interest expense and other	15,631	15,386	33,747	57,746
Income from continuing operations before income taxes	94,416	99,312	184,166	297,476
Depreciation and amortization	42,575	39,014	86,109	76,565
Amortization of Acquired Contract Liabilities	30,404	14,865	65,502	23,832
EBITDA	122,218	138,847	241,383	273,262
Capital expenditures	20,112	35,997	38,128	59,074
Total assets	6,272,571		6,272,571		$ 6,096,054
Revenues	188,308	191,849	379,625	351,683
Aerostructures
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Net sales	604,874	632,510	1,216,711	1,244,670
Operating income (loss)	67,099	70,008	130,243	138,827
Depreciation and amortization	25,506	25,314	54,225	50,835
Amortization of Acquired Contract Liabilities	20,393	4,783	44,990	9,900
EBITDA	72,212	90,539	139,478	179,762
Capital expenditures	12,897	23,027	24,523	38,638
Total assets	4,365,902		4,365,902		4,091,852
Aerospace Systems
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Net sales	280,155	288,902	557,803	508,754
Operating income (loss)	46,140	46,214	97,393	83,567
Depreciation and amortization	14,251	11,147	26,205	20,665
Amortization of Acquired Contract Liabilities	10,011	10,082	20,512	13,932
EBITDA	50,380	47,279	103,086	90,300
Capital expenditures	6,423	10,588	11,934	16,251
Total assets	1,432,958		1,432,958		1,460,064
Aftermarket Services
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Net sales	73,777	74,343	148,522	141,951
Operating income (loss)	9,125	11,620	19,112	22,124
Depreciation and amortization	2,428	1,926	4,890	3,803
EBITDA	11,553	13,546	24,002	25,927
Capital expenditures	711	2,353	1,333	4,033
Total assets	368,746		368,746		375,752
Elimination of inter-segment sales
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Net sales	(4,032)	(1,632)	(8,624)	(4,347)
Corporate
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Operating income (loss)	(12,317)	(13,144)	(28,835)	110,704
Depreciation and amortization	390	627	789	1,262
EBITDA	(11,927)	(12,517)	(25,183)	(22,727)
Capital expenditures	81	$ 29	338	$ 152
Total assets	$ 104,965		$ 104,965		$ 168,386

SELECTED CONSOLIDATING FINANC54

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Consolidating Financial Statements, Captions
Net sales	$ 954,774	$ 994,123	$ 1,914,412	$ 1,891,028
Current assets:
Property and equipment, net	914,304		914,304		$ 950,734
Goodwill and other intangible assets, net	2,956,928		2,956,928		2,985,590
Other, net	109,928		109,928		107,997
Intercompany investments and advances	0		0		0
Total assets	6,272,571		6,272,571		6,096,054
Current liabilities:
Long-term debt, less current portion	1,556,647		1,556,647		1,326,345
Intercompany debt	0		0		0
Accrued pension and other postretirement benefits, noncurrent	492,433		492,433		538,381
Deferred income taxes and other	1,118,861		1,118,861		1,212,307
Total stockholders' equity	2,257,382		2,257,382		2,135,784
Total liabilities and stockholders' equity	6,272,571		6,272,571		6,096,054
Cost of Goods and Services Sold	730,831	771,445	1,462,925	1,456,262
Selling, General and Administrative Expense	71,321	68,770	144,602	134,479
Depreciation and amortization	42,575	39,014	86,109	76,565
Restructuring Charges	0	196	0	3,193
Gain (Loss) Related to Litigation Settlement	0	0	0	(134,693)
Total operating costs and expenses	844,727	879,425	1,696,499	1,535,806
Operating Income (Loss)	110,047	114,698	217,913	355,222
Intercompany Interest and Charges	0	0	0	0
Interest expense and other	15,631	15,386	33,747	57,746
Income from continuing operations before income taxes	94,416	99,312	184,166	297,476
Income Tax Expense (Benefit)	32,804	31,866	59,823	101,786
Net Income (Loss) Attributable to Parent	61,612	67,446	124,343	195,690
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(18,555)	(17,485)	233	(13,206)
Total comprehensive income	43,057	49,961	124,576	182,484
Parent
Consolidating Financial Statements, Captions
Net sales	0	0	0	0
Current assets:
Property and equipment, net	7,573		7,573		8,209
Goodwill and other intangible assets, net	0		0		0
Other, net	12,903		12,903		13,805
Intercompany investments and advances	4,029,045		4,029,045		4,062,058
Total assets	4,057,672		4,057,672		4,094,779
Current liabilities:
Long-term debt, less current portion	1,308,097		1,308,097		1,155,299
Intercompany debt	402,762		402,762		719,525
Accrued pension and other postretirement benefits, noncurrent	7,633		7,633		7,517
Deferred income taxes and other	11,617		11,617		10,435
Total stockholders' equity	2,257,381		2,257,381		2,135,785
Total liabilities and stockholders' equity	4,057,672		4,057,672		4,094,779
Cost of Goods and Services Sold	0	0	0	0
Selling, General and Administrative Expense	11,908	12,493	25,060	22,663
Depreciation and amortization	389	626	789	1,264
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				(134,693)
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			(2,863)
Total operating costs and expenses	12,297	13,119	28,712	(110,766)
Operating Income (Loss)	(12,297)	(13,119)	(28,712)	110,766
Intercompany Interest and Charges	(50,709)	(52,345)	(104,300)	(105,634)
Interest expense and other	15,133	15,014	29,648	56,298
Income from continuing operations before income taxes	23,279	24,212	45,940	160,102
Income Tax Expense (Benefit)	5,487	5,553	5,476	51,737
Net Income (Loss) Attributable to Parent	17,792	18,659	40,464	108,365
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,800)	1,456	(781)	(84)
Total comprehensive income	15,992	20,115	39,683	108,281
Guarantors Subsidiaries
Consolidating Financial Statements, Captions
Net sales	876,282	909,720	1,761,725	1,752,016
Current assets:
Property and equipment, net	776,184		776,184		807,070
Goodwill and other intangible assets, net	2,754,973		2,754,973		2,780,855
Other, net	79,806		79,806		80,806
Intercompany investments and advances	81,541		81,541		81,540
Total assets	5,499,689		5,499,689		5,323,654
Current liabilities:
Long-term debt, less current portion	69,850		69,850		71,046
Intercompany debt	2,021,140		2,021,140		1,769,564
Accrued pension and other postretirement benefits, noncurrent	482,895		482,895		527,741
Deferred income taxes and other	1,047,351		1,047,351		1,138,648
Total stockholders' equity	1,185,592		1,185,592		1,084,587
Total liabilities and stockholders' equity	5,499,689		5,499,689		5,323,654
Cost of Goods and Services Sold	667,591	705,399	1,339,900	1,343,290
Selling, General and Administrative Expense	49,803	47,264	102,241	95,647
Depreciation and amortization	37,766	34,512	72,808	68,573
Restructuring Charges		196		3,193
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	755,160	787,371	1,514,949	1,510,703
Operating Income (Loss)	121,122	122,349	246,776	241,313
Intercompany Interest and Charges	48,401	50,142	99,913	101,672
Interest expense and other	2,193	2,388	5,083	4,543
Income from continuing operations before income taxes	70,528	69,819	141,780	135,098
Income Tax Expense (Benefit)	26,196	26,295	52,590	51,370
Net Income (Loss) Attributable to Parent	44,332	43,524	89,190	83,728
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,097)	(1,533)	5,739	(3,066)
Total comprehensive income	43,235	41,991	94,929	80,662
Non-Guarantor Subsidiaries
Consolidating Financial Statements, Captions
Net sales	95,355	90,664	181,492	147,255
Current assets:
Property and equipment, net	130,547		130,547		135,455
Goodwill and other intangible assets, net	201,955		201,955		204,735
Other, net	17,219		17,219		13,386
Intercompany investments and advances	78,195		78,195		63,897
Total assets	903,991		903,991		885,116
Current liabilities:
Long-term debt, less current portion	178,700		178,700		100,000
Intercompany debt	341,450		341,450		407,722
Accrued pension and other postretirement benefits, noncurrent	1,905		1,905		3,123
Deferred income taxes and other	59,893		59,893		63,224
Total stockholders' equity	237,838		237,838		226,096
Total liabilities and stockholders' equity	903,991		903,991		885,116
Cost of Goods and Services Sold	80,103	72,307	151,830	121,215
Selling, General and Administrative Expense	9,610	9,013	17,301	16,169
Depreciation and amortization	4,420	3,876	12,512	6,728
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	94,133	85,196	181,643	144,112
Operating Income (Loss)	1,222	5,468	(151)	3,143
Intercompany Interest and Charges	2,308	2,203	4,387	3,962
Interest expense and other	(1,695)	(2,016)	(984)	(3,095)
Income from continuing operations before income taxes	609	5,281	(3,554)	2,276
Income Tax Expense (Benefit)	1,121	18	1,757	(1,321)
Net Income (Loss) Attributable to Parent	(512)	5,263	(5,311)	3,597
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(15,658)	(17,408)	(4,725)	(10,056)
Total comprehensive income	(16,170)	(12,145)	(10,036)	(6,459)
Eliminations
Consolidating Financial Statements, Captions
Net sales	(16,863)	(6,261)	(28,805)	(8,243)
Current assets:
Property and equipment, net	0		0		0
Goodwill and other intangible assets, net	0		0		0
Other, net	0		0		0
Intercompany investments and advances	(4,188,781)		(4,188,781)		(4,207,495)
Total assets	(4,188,781)		(4,188,781)		(4,207,495)
Current liabilities:
Long-term debt, less current portion	0		0		0
Intercompany debt	(2,765,352)		(2,765,352)		(2,896,811)
Accrued pension and other postretirement benefits, noncurrent	0		0		0
Deferred income taxes and other	0		0		0
Total stockholders' equity	(1,423,429)		(1,423,429)		(1,310,684)
Total liabilities and stockholders' equity	(4,188,781)		(4,188,781)		$ (4,207,495)
Cost of Goods and Services Sold	(16,863)	(6,261)	(28,805)	(8,243)
Selling, General and Administrative Expense	0	0	0	0
Depreciation and amortization	0	0	0	0
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	(16,863)	(6,261)	(28,805)	(8,243)
Operating Income (Loss)	0	0	0	0
Intercompany Interest and Charges	0	0	0	0
Interest expense and other	0	0	0	0
Income from continuing operations before income taxes	0	0	0	0
Income Tax Expense (Benefit)	0	0	0	0
Net Income (Loss) Attributable to Parent	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0	0	0	0
Total comprehensive income	$ 0	$ 0	$ 0	$ 0

SELECTED CONSOLIDATING FINANC55

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Details 2) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Consolidating Financial Statements, Captions
Net sales	$ 954,774	$ 994,123	$ 1,914,412	$ 1,891,028
Operating costs and expenses:
Cost of sales	730,831	771,445	1,462,925	1,456,262
Selling, General and Administrative Expense	71,321	68,770	144,602	134,479
Depreciation and amortization	42,575	39,014	86,109	76,565
Restructuring Charges	0	196	0	3,193
Gain (Loss) Related to Litigation Settlement	0	0	0	134,693
Total operating costs and expenses	844,727	879,425	1,696,499	1,535,806
Operating Income (Loss)	110,047	114,698	217,913	355,222
Intercompany Interest and Charges	0	0	0	0
Interest expense and other	15,631	15,386	33,747	57,746
Income from continuing operations before income taxes	94,416	99,312	184,166	297,476
Income Tax Expense (Benefit)	32,804	31,866	59,823	101,786
Net Income (Loss) Attributable to Parent	61,612	67,446	124,343	195,690
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(18,555)	(17,485)	233	(13,206)
Total comprehensive income	43,057	49,961	124,576	182,484
Parent
Consolidating Financial Statements, Captions
Net sales	0	0	0	0
Operating costs and expenses:
Cost of sales	0	0	0	0
Selling, General and Administrative Expense	11,908	12,493	25,060	22,663
Depreciation and amortization	389	626	789	1,264
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				134,693
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			2,863
Total operating costs and expenses	12,297	13,119	28,712	(110,766)
Operating Income (Loss)	(12,297)	(13,119)	(28,712)	110,766
Intercompany Interest and Charges	(50,709)	(52,345)	(104,300)	(105,634)
Interest expense and other	15,133	15,014	29,648	56,298
Income from continuing operations before income taxes	23,279	24,212	45,940	160,102
Income Tax Expense (Benefit)	5,487	5,553	5,476	51,737
Net Income (Loss) Attributable to Parent	17,792	18,659	40,464	108,365
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,800)	1,456	(781)	(84)
Total comprehensive income	15,992	20,115	39,683	108,281
Guarantors Subsidiaries
Consolidating Financial Statements, Captions
Net sales	876,282	909,720	1,761,725	1,752,016
Operating costs and expenses:
Cost of sales	667,591	705,399	1,339,900	1,343,290
Selling, General and Administrative Expense	49,803	47,264	102,241	95,647
Depreciation and amortization	37,766	34,512	72,808	68,573
Restructuring Charges		196		3,193
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	755,160	787,371	1,514,949	1,510,703
Operating Income (Loss)	121,122	122,349	246,776	241,313
Intercompany Interest and Charges	48,401	50,142	99,913	101,672
Interest expense and other	2,193	2,388	5,083	4,543
Income from continuing operations before income taxes	70,528	69,819	141,780	135,098
Income Tax Expense (Benefit)	26,196	26,295	52,590	51,370
Net Income (Loss) Attributable to Parent	44,332	43,524	89,190	83,728
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,097)	(1,533)	5,739	(3,066)
Total comprehensive income	43,235	41,991	94,929	80,662
Non-Guarantor Subsidiaries
Consolidating Financial Statements, Captions
Net sales	95,355	90,664	181,492	147,255
Operating costs and expenses:
Cost of sales	80,103	72,307	151,830	121,215
Selling, General and Administrative Expense	9,610	9,013	17,301	16,169
Depreciation and amortization	4,420	3,876	12,512	6,728
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	94,133	85,196	181,643	144,112
Operating Income (Loss)	1,222	5,468	(151)	3,143
Intercompany Interest and Charges	2,308	2,203	4,387	3,962
Interest expense and other	(1,695)	(2,016)	(984)	(3,095)
Income from continuing operations before income taxes	609	5,281	(3,554)	2,276
Income Tax Expense (Benefit)	1,121	18	1,757	(1,321)
Net Income (Loss) Attributable to Parent	(512)	5,263	(5,311)	3,597
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(15,658)	(17,408)	(4,725)	(10,056)
Total comprehensive income	(16,170)	(12,145)	(10,036)	(6,459)
Eliminations
Consolidating Financial Statements, Captions
Net sales	(16,863)	(6,261)	(28,805)	(8,243)
Operating costs and expenses:
Cost of sales	(16,863)	(6,261)	(28,805)	(8,243)
Selling, General and Administrative Expense	0	0	0	0
Depreciation and amortization	0	0	0	0
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	(16,863)	(6,261)	(28,805)	(8,243)
Operating Income (Loss)	0	0	0	0
Intercompany Interest and Charges	0	0	0	0
Interest expense and other	0	0	0	0
Income from continuing operations before income taxes	0	0	0	0
Income Tax Expense (Benefit)	0	0	0	0
Net Income (Loss) Attributable to Parent	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0	0	0	0
Total comprehensive income	$ 0	$ 0	0	0
Pension Plan [Member]
Operating costs and expenses:
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			$ 2,863	$ 0

SELECTED CONSOLIDATING FINANC56

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Mar. 31, 2015
Consolidating Financial Statements, Captions
Current portion of long-term debt	$ 43,048		$ 43,048		$ 42,255
Trade and other receivables, net	540,902		540,902		521,601
Inventories	1,556,487		1,556,487		1,280,274
Accounts payable	399,927		399,927		429,134
Rotable assets	52,335		52,335		48,820
Net sales	954,774	$ 994,123	1,914,412	$ 1,891,028
Operating costs and expenses:
Adjustments to reconcile net income to net cash (used in) provided by operating activities			(302,798)	62,725
Net cash (used in) provided by operating activities			(178,455)	258,415
Net increase in revolving credit facility			166,094	68,421
Proceeds on issuance of debt			108,297	342,960
Retirements and repayments of debt			(44,207)	(427,343)
Payments for Repurchase of Common Stock			0	93,018
Payment of deferred financing costs			(143)	(5,513)
Dividends paid			(3,943)	(4,090)
Repayments of government grant			0	(3,198)
Repurchase of restricted shares for minimum tax obligation			(96)	(673)
Proceeds from exercise of stock options, including excess tax benefit			0	356
Intercompany financing and advances			0	0
Net cash (used in) provided by financing activities			226,002	(122,098)
Effect of exchange rate changes on cash and cash equivalents			1,478	(719)
Net change in cash and cash equivalents			6,472	4,368
Cash at beginning of period			32,617	28,998
Cash at end of period	39,089	33,366	39,089	33,366
Cost of Goods and Services Sold	730,831	771,445	1,462,925	1,456,262
Selling, General and Administrative Expense	71,321	68,770	144,602	134,479
Depreciation and amortization	42,575	39,014	86,109	76,565
Restructuring Charges	0	196	0	3,193
Gain (Loss) Related to Litigation Settlement	0	0	0	134,693
Total operating costs and expenses	844,727	879,425	1,696,499	1,535,806
Income Tax Expense (Benefit)	32,804	31,866	59,823	101,786
Accrued expenses	404,273		404,273		411,848
Deferred Tax Assets, Net of Valuation Allowance, Current	73,823		73,823		145,352
Prepaid and other current assets	28,775		28,775		23,069
Total current assets	2,291,411		2,291,411		2,051,733
Property and equipment, net	914,304		914,304		950,734
Goodwill and other intangible assets, net	2,956,928		2,956,928		2,985,590
Other, net	109,928		109,928		107,997
Intercompany investments and advances	0		0		0
Total assets	6,272,571		6,272,571		6,096,054
Current liabilities:
Total current liabilities	847,248		847,248		883,237
Long-term debt, less current portion	1,556,647		1,556,647		1,326,345
Intercompany debt	0		0		0
Accrued pension and other postretirement benefits, noncurrent	492,433		492,433		538,381
Deferred income taxes and other	1,118,861		1,118,861		1,212,307
Total stockholders' equity	2,257,382		2,257,382		2,135,784
Total liabilities and stockholders’ equity	6,272,571		6,272,571		6,096,054
Operating Income (Loss)	110,047	114,698	217,913	355,222
Intercompany Interest and Charges	0	0	0	0
Interest expense and other	15,631	15,386	33,747	57,746
Income from continuing operations before income taxes	94,416	99,312	184,166	297,476
Net Income (Loss) Attributable to Parent	61,612	67,446	124,343	195,690
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(18,555)	(17,485)	233	(13,206)
Total comprehensive income	43,057	49,961	124,576	182,484
Capital expenditures	20,112	35,997	38,128	59,074
Reimbursement Revenue			0	(553)
Proceeds from sale of assets			1,561	1,192
Payments to Acquire Businesses, Net of Cash Acquired			5,986	73,901
Net cash used in investing activities			(42,553)	(131,230)
Parent
Consolidating Financial Statements, Captions
Current portion of long-term debt	23,720		23,720		19,024
Trade and other receivables, net	3,203		3,203		3,578
Inventories	0		0		0
Accounts payable	3,912		3,912		8,919
Rotable assets	0		0		0
Net sales	0	0	0	0
Operating costs and expenses:
Adjustments to reconcile net income to net cash (used in) provided by operating activities			4,328	(218,022)
Net cash (used in) provided by operating activities			(44,792)	(109,657)
Net increase in revolving credit facility			166,094	68,421
Proceeds on issuance of debt			0	300,000
Retirements and repayments of debt			(9,511)	(391,725)
Payment of deferred financing costs			(143)	(5,513)
Dividends paid			(3,943)	(4,090)
Repayments of government grant			0	0
Repurchase of restricted shares for minimum tax obligation			(96)	(673)
Proceeds from exercise of stock options, including excess tax benefit				356
Intercompany financing and advances			(196,863)	233,859
Net cash (used in) provided by financing activities			(44,462)	107,617
Effect of exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			(8)	(2,192)
Cash at beginning of period			620	2,820
Cash at end of period	612	628	612	628
Cost of Goods and Services Sold	0	0	0	0
Selling, General and Administrative Expense	11,908	12,493	25,060	22,663
Depreciation and amortization	389	626	789	1,264
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				134,693
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			2,863
Total operating costs and expenses	12,297	13,119	28,712	(110,766)
Income Tax Expense (Benefit)	5,487	5,553	5,476	51,737
Accrued expenses	42,550		42,550		38,275
Deferred Tax Assets, Net of Valuation Allowance, Current	0		0		0
Prepaid and other current assets	4,336		4,336		6,509
Total current assets	8,151		8,151		10,707
Property and equipment, net	7,573		7,573		8,209
Goodwill and other intangible assets, net	0		0		0
Other, net	12,903		12,903		13,805
Intercompany investments and advances	4,029,045		4,029,045		4,062,058
Total assets	4,057,672		4,057,672		4,094,779
Current liabilities:
Total current liabilities	70,182		70,182		66,218
Long-term debt, less current portion	1,308,097		1,308,097		1,155,299
Intercompany debt	402,762		402,762		719,525
Accrued pension and other postretirement benefits, noncurrent	7,633		7,633		7,517
Deferred income taxes and other	11,617		11,617		10,435
Total stockholders' equity	2,257,381		2,257,381		2,135,785
Total liabilities and stockholders’ equity	4,057,672		4,057,672		4,094,779
Operating Income (Loss)	(12,297)	(13,119)	(28,712)	110,766
Intercompany Interest and Charges	(50,709)	(52,345)	(104,300)	(105,634)
Interest expense and other	15,133	15,014	29,648	56,298
Income from continuing operations before income taxes	23,279	24,212	45,940	160,102
Net Income (Loss) Attributable to Parent	17,792	18,659	40,464	108,365
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,800)	1,456	(781)	(84)
Total comprehensive income	15,992	20,115	39,683	108,281
Capital expenditures			338	152
Proceeds from sale of assets			0	0
Payments to Acquire Businesses, Net of Cash Acquired			0	0
Net cash used in investing activities			(338)	(152)
Guarantors Subsidiaries
Consolidating Financial Statements, Captions
Current portion of long-term debt	19,328		19,328		23,231
Trade and other receivables, net	224,361		224,361		180,874
Inventories	1,455,368		1,455,368		1,200,941
Accounts payable	350,812		350,812		382,143
Rotable assets	35,750		35,750		35,248
Net sales	876,282	909,720	1,761,725	1,752,016
Operating costs and expenses:
Adjustments to reconcile net income to net cash (used in) provided by operating activities			(320,943)	249,129
Net cash (used in) provided by operating activities			231,753	332,857
Net increase in revolving credit facility			0	0
Proceeds on issuance of debt			6,497	20,160
Retirements and repayments of debt			(11,596)	(10,218)
Payment of deferred financing costs			0	0
Dividends paid			0	0
Repayments of government grant			0	(3,198)
Repurchase of restricted shares for minimum tax obligation			0	0
Proceeds from exercise of stock options, including excess tax benefit				0
Intercompany financing and advances			265,639	(292,557)
Net cash (used in) provided by financing activities			260,540	(285,813)
Effect of exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			(107)	(575)
Cash at beginning of period			419	1,149
Cash at end of period	312	574	312	574
Cost of Goods and Services Sold	667,591	705,399	1,339,900	1,343,290
Selling, General and Administrative Expense	49,803	47,264	102,241	95,647
Depreciation and amortization	37,766	34,512	72,808	68,573
Restructuring Charges		196		3,193
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	755,160	787,371	1,514,949	1,510,703
Income Tax Expense (Benefit)	26,196	26,295	52,590	51,370
Accrued expenses	322,721		322,721		326,694
Deferred Tax Assets, Net of Valuation Allowance, Current	73,700		73,700		145,352
Prepaid and other current assets	17,694		17,694		10,549
Total current assets	1,807,185		1,807,185		1,573,383
Property and equipment, net	776,184		776,184		807,070
Goodwill and other intangible assets, net	2,754,973		2,754,973		2,780,855
Other, net	79,806		79,806		80,806
Intercompany investments and advances	81,541		81,541		81,540
Total assets	5,499,689		5,499,689		5,323,654
Current liabilities:
Total current liabilities	692,861		692,861		732,068
Long-term debt, less current portion	69,850		69,850		71,046
Intercompany debt	2,021,140		2,021,140		1,769,564
Accrued pension and other postretirement benefits, noncurrent	482,895		482,895		527,741
Deferred income taxes and other	1,047,351		1,047,351		1,138,648
Total stockholders' equity	1,185,592		1,185,592		1,084,587
Total liabilities and stockholders’ equity	5,499,689		5,499,689		5,323,654
Operating Income (Loss)	121,122	122,349	246,776	241,313
Intercompany Interest and Charges	48,401	50,142	99,913	101,672
Interest expense and other	2,193	2,388	5,083	4,543
Income from continuing operations before income taxes	70,528	69,819	141,780	135,098
Net Income (Loss) Attributable to Parent	44,332	43,524	89,190	83,728
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,097)	(1,533)	5,739	(3,066)
Total comprehensive income	43,235	41,991	94,929	80,662
Capital expenditures			30,316	49,296
Proceeds from sale of assets			1,408	1,124
Payments to Acquire Businesses, Net of Cash Acquired			14	0
Net cash used in investing activities			(28,894)	(47,619)
Non-Guarantor Subsidiaries
Consolidating Financial Statements, Captions
Current portion of long-term debt	0		0		0
Trade and other receivables, net	313,338		313,338		337,149
Inventories	101,119		101,119		79,333
Accounts payable	45,203		45,203		38,072
Rotable assets	16,585		16,585		13,572
Net sales	95,355	90,664	181,492	147,255
Operating costs and expenses:
Adjustments to reconcile net income to net cash (used in) provided by operating activities			7,972	21,295
Net cash (used in) provided by operating activities			2,661	24,892
Net increase in revolving credit facility			0	0
Proceeds on issuance of debt			101,800	22,800
Retirements and repayments of debt			(23,100)	(25,400)
Payment of deferred financing costs			0	0
Dividends paid			0	0
Repayments of government grant			0	0
Repurchase of restricted shares for minimum tax obligation			0	0
Proceeds from exercise of stock options, including excess tax benefit				0
Intercompany financing and advances			(62,931)	69,021
Net cash (used in) provided by financing activities			15,769	66,421
Effect of exchange rate changes on cash and cash equivalents			1,478	(719)
Net change in cash and cash equivalents			6,587	7,135
Cash at beginning of period			31,578	25,029
Cash at end of period	38,165	32,164	38,165	32,164
Cost of Goods and Services Sold	80,103	72,307	151,830	121,215
Selling, General and Administrative Expense	9,610	9,013	17,301	16,169
Depreciation and amortization	4,420	3,876	12,512	6,728
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	94,133	85,196	181,643	144,112
Income Tax Expense (Benefit)	1,121	18	1,757	(1,321)
Accrued expenses	39,002		39,002		46,879
Deferred Tax Assets, Net of Valuation Allowance, Current	123		123		0
Prepaid and other current assets	6,745		6,745		6,011
Total current assets	476,075		476,075		467,643
Property and equipment, net	130,547		130,547		135,455
Goodwill and other intangible assets, net	201,955		201,955		204,735
Other, net	17,219		17,219		13,386
Intercompany investments and advances	78,195		78,195		63,897
Total assets	903,991		903,991		885,116
Current liabilities:
Total current liabilities	84,205		84,205		84,951
Long-term debt, less current portion	178,700		178,700		100,000
Intercompany debt	341,450		341,450		407,722
Accrued pension and other postretirement benefits, noncurrent	1,905		1,905		3,123
Deferred income taxes and other	59,893		59,893		63,224
Total stockholders' equity	237,838		237,838		226,096
Total liabilities and stockholders’ equity	903,991		903,991		885,116
Operating Income (Loss)	1,222	5,468	(151)	3,143
Intercompany Interest and Charges	2,308	2,203	4,387	3,962
Interest expense and other	(1,695)	(2,016)	(984)	(3,095)
Income from continuing operations before income taxes	609	5,281	(3,554)	2,276
Net Income (Loss) Attributable to Parent	(512)	5,263	(5,311)	3,597
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(15,658)	(17,408)	(4,725)	(10,056)
Total comprehensive income	(16,170)	(12,145)	(10,036)	(6,459)
Capital expenditures			7,474	9,626
Proceeds from sale of assets			153	68
Payments to Acquire Businesses, Net of Cash Acquired			(6,000)	73,901
Net cash used in investing activities			(13,321)	(83,459)
Eliminations
Consolidating Financial Statements, Captions
Current portion of long-term debt	0		0		0
Trade and other receivables, net	0		0		0
Inventories	0		0		0
Accounts payable	0		0		0
Rotable assets	0		0		0
Net sales	(16,863)	(6,261)	(28,805)	(8,243)
Operating costs and expenses:
Adjustments to reconcile net income to net cash (used in) provided by operating activities			5,845	10,323
Net cash (used in) provided by operating activities			(5,845)	10,323
Net increase in revolving credit facility			0	0
Proceeds on issuance of debt			0	0
Retirements and repayments of debt			0	0
Payment of deferred financing costs			0	0
Dividends paid			0	0
Repayments of government grant			0	0
Repurchase of restricted shares for minimum tax obligation			0	0
Proceeds from exercise of stock options, including excess tax benefit				0
Intercompany financing and advances			(5,845)	(10,323)
Net cash (used in) provided by financing activities			(5,845)	(10,323)
Effect of exchange rate changes on cash and cash equivalents			0	0
Net change in cash and cash equivalents			0	0
Cash at beginning of period			0	0
Cash at end of period	0	0	0	0
Cost of Goods and Services Sold	(16,863)	(6,261)	(28,805)	(8,243)
Selling, General and Administrative Expense	0	0	0	0
Depreciation and amortization	0	0	0	0
Restructuring Charges		0		0
Gain (Loss) Related to Litigation Settlement				0
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			0
Total operating costs and expenses	(16,863)	(6,261)	(28,805)	(8,243)
Income Tax Expense (Benefit)	0	0	0	0
Accrued expenses	0		0		0
Deferred Tax Assets, Net of Valuation Allowance, Current	0		0		0
Prepaid and other current assets	0		0		0
Total current assets	0		0		0
Property and equipment, net	0		0		0
Goodwill and other intangible assets, net	0		0		0
Other, net	0		0		0
Intercompany investments and advances	(4,188,781)		(4,188,781)		(4,207,495)
Total assets	(4,188,781)		(4,188,781)		(4,207,495)
Current liabilities:
Total current liabilities	0		0		0
Long-term debt, less current portion	0		0		0
Intercompany debt	(2,765,352)		(2,765,352)		(2,896,811)
Accrued pension and other postretirement benefits, noncurrent	0		0		0
Deferred income taxes and other	0		0		0
Total stockholders' equity	(1,423,429)		(1,423,429)		(1,310,684)
Total liabilities and stockholders’ equity	(4,188,781)		(4,188,781)		$ (4,207,495)
Operating Income (Loss)	0	0	0	0
Intercompany Interest and Charges	0	0	0	0
Interest expense and other	0	0	0	0
Income from continuing operations before income taxes	0	0	0	0
Net Income (Loss) Attributable to Parent	0	0	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0	0	0	0
Total comprehensive income	$ 0	$ 0	0	0
Capital expenditures			0	0
Proceeds from sale of assets			0	0
Payments to Acquire Businesses, Net of Cash Acquired			0	0
Net cash used in investing activities			0	0
Pension Plan [Member]
Operating costs and expenses:
Defined Benefit Plan, Recognized Net Gain (Loss) Due to Settlements and Curtailments			$ 2,863	$ 0

COMMITMENTS AND CONTINGENCIES L

COMMITMENTS AND CONTINGENCIES Litigation Settlement (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Maximum	$ 70,000		$ 70,000
Gain (Loss) Related to Litigation Settlement	$ 0	$ 0	$ 0	$ (134,693)

RELOCATION COSTS RELOCATION C58

RELOCATION COSTS RELOCATION COSTS (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 196	$ 3,193

Stock Based Compensation (Detai

Stock Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Compensation Related Costs [Abstract]
Share-based Compensation	$ 1,199	$ 1,060	$ 1,990	$ 2,056