Triumph (TGI) 10-Q 28 Jul 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Jun. 30, 2017	Jul. 27, 2017
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	Jun. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		49,623,221
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 36,968	$ 69,633
Trade and other receivables, less allowance for doubtful accounts of $4,120 and $4,559	343,962	311,792
Inventories, net of unliquidated progress payments of $432,760 and $222,485	1,248,656	1,340,175
Prepaid and other current assets	34,213	30,064
Assets Held-for-sale, Not Part of Disposal Group, Current	0	21,255
Total current assets	1,663,799	1,772,919
Property and equipment, net	794,770	805,030
Goodwill	1,147,676	1,142,605
Intangible assets, net	578,525	592,364
Other, net	91,274	101,682
Total assets	4,276,044	4,414,600
Current liabilities:
Current portion of long-term debt	140,869	160,630
Accounts payable	420,260	481,243
Accrued expenses	600,478	674,379
Disposal Group, Including Discontinued Operation, Liabilities, Current	0	18,008
Total current liabilities	1,161,607	1,334,260
Long-term debt, less current portion	1,140,165	1,035,670
Accrued pension and other postretirement benefits, noncurrent	572,501	592,134
Deferred income taxes, noncurrent	67,052	68,107
Other noncurrent liabilities	481,829	537,956
Stockholders’ equity:
Common stock, $.001 par value, 100,000,000 shares authorized, 52,460,920 and 52,460,920 shares issued; 49,609,065 and 49,573,029 shares outstanding	51	51
Capital in excess of par value	845,451	846,807
Treasury Stock, Value	(182,264)	(183,696)
Accumulated other comprehensive loss	(385,921)	(396,178)
Retained earnings	575,573	579,489
Total stockholders' equity	852,890	846,473
Total liabilities and stockholders' equity	$ 4,276,044	$ 4,414,600

Consolidated Balance Sheet Pare

Consolidated Balance Sheet Parenthetical (Parentheticals) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Allowance for doubtful accounts	$ 4,120	$ 4,559
Unliquidated progress payments	$ 432,760	$ 222,485
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	49,609,065	49,573,029
Treasury Stock, Shares	2,851,855	2,887,891

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Net sales	$ 781,689	$ 893,253
Operating costs and expenses:
Cost of sales (exclusive of depreciation and amortization shown separately below)	627,346	726,388
Selling, General and Administrative Expense	79,303	68,026
Depreciation and amortization	39,131	45,462
Restructuring Charges	17,500	6,651
Operating expenses	763,280	846,527
Operating Income	18,409	46,726
Interest expense and other	21,018	18,126
Income from continuing operations before income taxes	(2,609)	28,600
Income Tax Expense	(678)	8,866
Net Income (Loss) Attributable to Parent	$ (1,931)	$ 19,734
Earnings per share-basic:
Earnings per share—basic:	$ (0.04)	$ 0.40
Weighted-average common shares outstanding-basic (in shares)	49,341	49,271
Earnings per share-diluted:
Earnings per share—diluted:	$ (0.04)	$ 0.40
Weighted-average common shares outstanding-diluted (in shares)	49,341	49,413
Dividends declared and paid per common share (in dollars per share)	$ 0.04	$ 0.04

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Net Income (Loss) Attributable to Parent	$ (1,931)	$ 19,734
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustment	11,421	(14,797)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	1,695	836
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Net of Tax	(3,042)	(2,408)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax, Portion Attributable to Parent	(1,347)	(1,572)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	552	(553)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(369)	(13)
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	183	(566)
Other Comprehensive Income (Loss), Net of Tax	10,257	(16,935)
Total comprehensive income	$ 8,326	$ 2,799

Consolidated Statements of Com6

Consolidated Statements of Comprehensive Income Parenthetical (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Net Prior Service Cost (Credit), Tax	$ 0	$ 0
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net Unamortized Gain (Loss) Arising During the Period, Tax	0	0
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Tax	0	(489)
Other Comprehensive Income (Loss), Amortization Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net Prior Service (Cost) Credit, Tax	0	1,408
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During the Period, Tax	0	339
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	$ 0	$ 2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating Activities
Net Income (Loss) Attributable to Parent	$ (1,931)	$ 19,734
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	39,131	45,462
Amortization of acquired contract liabilities	(29,473)	(29,349)
Other amortization included in interest expense	3,263	1,284
Provision for doubtful accounts receivable	(363)	(207)
Provision for deferred income taxes	(1,060)	4,996
Employee stock-based compensation	(41)	1,956
Changes in assets and liabilities, excluding the effects of acquisitions and dispositions of businesses:
Trade and other receivables	(30,310)	55,413
Inventories	118,243	(123,589)
Prepaid expenses and other current assets	751	15,096
Accounts payable, accrued expenses and other current liabilities	(172,918)	(47,419)
Accrued pension and other postretirement benefits	(21,207)	(24,558)
Other	(3,133)	(2,854)
Net cash (used in) provided by operating activities	(99,048)	(84,035)
Investing Activities
Capital expenditures	(12,085)	(12,723)
Proceeds from sale of assets	1,351	948
Acquisitions, net of cash acquired	0	9
Net cash used in investing activities	(10,734)	(11,766)
Financing Activities
Net increase in revolving credit facility	118,961	174,091
Repayment of debt and capital lease obligations	(33,268)	(46,989)
Payment of deferred financing costs	(7,160)	(10,689)
Dividends paid	(1,984)	(1,981)
Repayments of government grant	0	(7,285)
Repurchase of restricted shares for minimum tax obligation	(296)	(171)
Net cash (used in) provided by financing activities	76,253	106,976
Effect of exchange rate changes on cash	864	(860)
Net change in cash and cash equivalents	(32,665)	10,315
Cash at beginning of period	69,633	20,984
Cash at end of period	$ 36,968	$ 31,299

Consolidated Statements of Cas8

Consolidated Statements of Cash Flows Parenthetical (Parentheticals) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Excess tax benefit	$ 0	$ 0

BASIS OF PRESENTATION AND ORGAN

BASIS OF PRESENTATION AND ORGANIZATION	3 Months Ended
	Jun. 30, 2017
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 months ended June 30, 2017 are not necessarily indicative of results that may be expected for the year ending March 31, 2018 . The accompanying condensed consolidated financial statements are unaudited and should be read in conjunction with the fiscal 2017 audited condensed consolidated financial statements and notes thereto included in the Company's Form 10-K for the year ended March 31, 2017 filed with the Securities and Exchange Commission (the "SEC") on May 24, 2017. 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 March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting ("ASU 2016-09"). ASU 2016-09 identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. The Company adopted ASU 2016-15 effective April 1, 2017. The adoption of ASU 2016-15 did not have a material impact on the Company's consolidated financial statements. Standards Issued Not Yet Implemented In May 2014, the Financial Accounting Standards Board ("FASB") issued ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”, “ASC 606”), which requires recognition of revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The FASB has issued several updates to ASU 2014-09 which must be adopted concurrently with ASU 2014-09. Under ASC 606, revenue is recognized when control of promised goods or services transfers to a customer and is recognized in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. The major provisions include determining enforceable rights and obligation between parties, defining performance obligations as the units of accounting under contract, accounting for variable consideration, and determining whether performance obligations are satisfied over time or at a point of time. Additionally, ASC 606 requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. ASC 606 will be effective for the Company beginning April 1, 2018. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (the “full retrospective method”), or retrospectively with the cumulative effect of initially applying ASC 606 recognized at the date of initial application (the "modified retrospective method”). The Company is adopting ASC 606 effective April 1, 2018 and the Company expects to do so using the modified retrospective method. During the fiscal year ended March 31, 2016, we established a cross-functional team to assess and prepare for implementation of the new standard. We are analyzing the impact of the new standard on the Company’s revenue contracts, comparing our current accounting policies and practices to the requirements of the new standard, and identifying potential differences that would result from applying the new standard to our contracts. While further analysis of ASC 606 and a review of all material contracts is underway, the adoption of ASC 606 may impact the amount and timing of revenue recognition and the accounting treatment of deferred production costs for certain of our contracts. Under ASC 606, the units-of-delivery method is no longer viable and some performance obligations may be satisfied over time which may change the timing of recognition of revenue and associated production costs for certain contracts. In March 2017, the FASB issued ASU No. 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (“ASU 2017-07”). ASU 2017-07 amends ASC 715, Compensation — Retirement Benefits , to require employers that present a measure of operating income in their statement of income to include only the service cost component of net periodic pension cost and net periodic postretirement benefit cost in operating expenses (together with other employee compensation costs). The other components of net benefit cost, including amortization of prior service cost/credit, and settlement and curtailment effects, are to be included in nonoperating expenses. Employers that do not present a measure of operating income are required to include the service cost component in the same line item as other employee compensation costs. Employers are required to include all other components of net benefit cost in a separate line item(s). The line item(s) in which the components of net benefit cost other than the service cost are included need to be identified as such on the income statement or in the disclosures. ASU 2017-07 also stipulates that only the service cost component of net benefit cost is eligible for capitalization. ASU 2017-07 is effective for -reporting periods beginning after December 15, 2017, with early adoption permitted. The Company is currently performing its assessment of the impact of adopting the guidance; however based on its expectations for the fiscal year ended March 31, 2018, the Company believes the it will likely have a material impact due to the reclassification of pension and OPEB income from capitalized costs (Operating Income) to Other Income. Excluding the service costs, the net periodic pension benefit for the fiscal year ended March 31, 2018 is expected to be $67,000. In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) ("ASU 2016-02"). This update requires recognition of lease assets and lease liabilities on the balance sheet of lessees. ASU 2016-02 is effective for fiscal years beginning after December 15, 2018 and interim reporting periods within those years. Early adoption is permitted. ASU 2016-02 requires a modified retrospective transition approach and provides certain optional transition relief. The Company is currently evaluating the new guidance to determine the impact it may have to the Company's consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2017
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 Accounting Standards Codification ("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 toward 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 June 30, 2017 , 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 $(5,289) , $(3,915) and $(0.08) , net of tax, respectively. For the three months ended June 30, 2016 , cumulative catch-up adjustments from changes in estimates decreased operating income, net income and earnings per share by approximately $(27,968) , $(19,298) and $(0.39) , 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 previously disclosed, the Company recognized a provision for forward losses associated with our long-term contract on the 747-8 and Bombardier programs. There is still risk similar to what the Company has experienced on the 747-8 and Bombardier programs. Particularly, 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, potential need to negotiate facility lease extensions or alternatively relocate work and many other risks, will determine the ultimate performance of these programs. Included in net sales of Integrated Systems, Aerospace Structures and Precision Components 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 June 30, 2017 and 2016 , the Company recognized $29,473 and $29,349 , respectively, into net sales on the accompanying Condensed Consolidated Statements of Income. Product Support 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 11% and 5% of total trade accounts receivable as of June 30, 2017 and March 31, 2017 , respectively. Trade accounts receivable from Gulfstream (representing commercial, military and space) represented approximately 21% and 3% of total trade accounts receivable as of June 30, 2017 and March 31, 2017 , respectively. The Company had no other concentrations of credit risk of more than 10% . Sales to Boeing for the three months ended June 30, 2017 , were $257,311 , or 33% of net sales, of which $53,530 , $102,396 , $99,292 and $2,093 were from the Integrated Systems, Aerospace Structures, Precision Components and Product Support, respectively. Sales to Boeing for the three months ended June 30, 2016 , were $337,988 , or 38% of net sales, of which $53,760 , $162,935 , $112,823 and $8,470 were from the Integrated Systems, Aerospace Structures, Precision Components and Product Support, respectively. Sales to Gulfstream for the three months ended June 30, 2017 , were $116,026 , or 15% of net sales, of which $306 , $113,346 , $2,364 and $10 were from the Integrated Systems, Aerospace Structures, Precision Components and Product Support, respectively. Sales to Gulfstream for the three months ended June 30, 2016 , were $107,627 , or 12% of net sales, of which $558 , $104,795 , $2,254 and $20 were from the Integrated Systems, Aerospace Structures, Precision Components and Product Support, 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 June 30, 2017 and 2016 , was $(41) and $1,956 , 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: June 30, 2017 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.6 $ 659,179 $ (246,773 ) $ 412,406 Product rights, technology and licenses 11.4 54,470 (40,074 ) 14,396 Non-compete agreements and other 16.3 2,756 (830 ) 1,926 Tradenames 10.3 163,000 (13,203 ) 149,797 Total intangibles, net $ 879,405 $ (300,880 ) $ 578,525 March 31, 2017 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.6 $ 663,165 $ (241,124 ) $ 422,041 Product rights, technology and licenses 11.4 54,347 (39,486 ) 14,861 Non-compete agreements and other 16.3 2,756 (786 ) 1,970 Tradenames 10.3 163,000 (9,508 ) 153,492 Total intangibles, net $ 883,268 $ (290,904 ) $ 592,364 Amortization expense for the three months ended June 30, 2017 and 2016 , was $14,847 and $13,631 , 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 divestitures and interest rate swap (see Note 3 and 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 June 30, 2017 and March 31, 2017 , were $83,810 and $107,088 , respectively. The decrease in warranty reserves during the first quarter of the fiscal year ended March 31 2018, was offset by a corresponding decrease to the related indemnification asset, which is included in other assets on the accompanying Condensed Consolidated Balance Sheets. Supplemental Cash Flow Information The Company paid $2,749 and $1,198 for income taxes, net of refunds, for the three months ended June 30, 2017 and 2016 , respectively. The Company made interest payments of $24,007 and $25,751 for the three months ended June 30, 2017 and 2016 , respectively. As of June 30, 2017 , the Company remains able to purchase an additional 2,277,789 shares under the existing stock repurchase program. However, there are certain restrictions placed on the repurchase program by the Company's lenders that prevent any repurchases at this time.

INVENTORIES

INVENTORIES	3 Months Ended
	Jun. 30, 2017
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: June 30, 2017 March 31, 2017 Raw materials $ 95,095 $ 89,069 Work-in-process, including manufactured and purchased components 1,403,460 1,297,989 Finished goods 127,258 118,265 Rotable assets 55,603 57,337 Less: unliquidated progress payments (432,760 ) (222,485 ) Total inventories $ 1,248,656 $ 1,340,175 Work-in-process inventory includes capitalized pre-production costs on newer development programs. 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. The balance of development program inventory, comprised principally of capitalized pre-production costs, excluding progress payments related to the Company's contracts with Bombardier for the Global 7000/8000 program ("Bombardier") and Embraer for the second generation E-Jet program ("Embraer") are as follows: June 30, 2017 Inventory Capitalized Pre-Production Forward Loss Provision Total Inventory, net Bombardier $ 140,809 $ 618,070 $ (390,758 ) $ 368,121 Embraer 17,490 176,607 (5,800 ) 188,297 Total $ 158,299 $ 794,677 $ (396,558 ) $ 556,418 March 31, 2017 Inventory Capitalized Pre-Production Forward Loss Provision Total Inventory, net Bombardier $ 89,650 $ 589,449 $ (399,758 ) $ 279,341 Embraer 14,987 173,169 (5,800 ) 182,356 Total $ 104,637 $ 762,618 $ (405,558 ) $ 461,697 Under our contract for the Bombardier Global 7000/8000 wing program ("Global 7000"), the Company has the right to design, develop and manufacture wing components for the Global 7000 program. The Global 7000 contract provides for fixed pricing and requires the Company to fund certain up-front development expenses, with certain milestone payments made by Bombardier. The Global 7000 program charge resulted in the impairment of previously capitalized pre-production costs due to the combination of cost recovery uncertainty, higher than anticipated non-recurring costs and increased forecasted costs on recurring production. The increases in costs were driven by several factors, including: changing technical requirements, increased spending on the design and engineering phase of the program, and uncertainty regarding cost reduction and cost recovery initiatives with our customer and suppliers. The Global 7000 program has continued to incur costs since March 2016 in support of the development and transition to production. In May 2017, Triumph Aerostructures and Bombardier entered into a comprehensive settlement agreement that resolves all outstanding commercial disputes between them, including all pending litigation, related to the design, manufacture and supply of wing components for the Global 7000 business aircraft. The settlement resets the commercial relationship between the companies and allows each company to better achieve its business objectives going forward. Further cost increases or an inability to meet revised recurring cost forecasts on the Global 7000 program will likely result in additional forward loss reserves in future periods, while improvements in future costs compared to current estimates may result in favorable adjustments if forward loss reserves are no longer required. 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. 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 additional forward losses.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Long-term debt consists of the following: June 30, 2017 March 31, 2017 Revolving line of credit $ 148,961 $ 29,999 Term loan 302,344 309,375 Receivable securitization facility 95,900 112,900 Capital leases 63,561 72,800 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 (12,710 ) (11,752 ) 1,281,034 1,196,300 Less: Current portion 140,869 160,630 $ 1,140,165 $ 1,035,670 Revolving Credit Facility In May 2017, the Company entered into an Eighth Amendment to the Third Amended and Restated Credit Agreement (the “Eighth Amendment Effective Date”), among the Company and its lenders to, among other things, (i) eliminate the total leverage ratio financial covenant, (ii) increase the maximum permitted senior secured leverage ratio financial covenant applicable to each fiscal quarter, commencing with the fiscal quarter ended March 31, 2017, and to revise the step-downs applicable to such financial covenant, (iii) reduce the aggregate principal amount of commitments under the revolving line of credit to $850,000 from $1,000,000 , (iv) modify the maturity date of the term loans so that all of the term loans will mature on March 31, 2019, and (v) establish a new higher pricing tier for the interest rate, commitment fee and letter of credit fee pricing provisions and provide that the highest pricing tier will apply until the maximum senior secured leverage ratio financial covenant is 2.50 to 1.00 and the Company delivers a compliance certificate demonstrating compliance with such financial covenant. In connection with the amendment to the Credit Facility, the Company incurred $6,780 of financing costs. These costs, along with the $10,532 of unamortized financing costs subsequent to the amendment, are being amortized over the remaining term of the Credit Facility. In accordance with the reduction of the Credit Facility, the Company impaired a proportional amount of unamortized financing fees prior to the amendment. The Eighth Amendment also provided the Company’s Vought Aircraft Division (Triumph Aerostructures, LLC) and certain affiliated entities (collectively, the “Vought entities”) with the option, if necessary, to commence voluntary insolvency proceedings within 90 days of the Eighth Amendment Effective Date, subject to certain conditions set forth in the Credit Agreement. Upon the commencement of such proceedings, the Vought entities would no longer be Subsidiary Co-Borrowers under the Credit Agreement, and transactions between any of the Vought entities, on the one hand, and the Company and any of the Subsidiary Co-Borrowers, on the other hand, would have been restricted. The Company entered into the Eighth Amendment, among other reasons, in order to provide the Vought entities with greater financial flexibility to address their significant cash utilization relative to certain contracts. The Company expected that any action it may have taken regarding the Vought entities would have improved the Company’s credit profile and equity value. The Company does not intend to exercise its option to commence voluntary insolvency for the Vought entities, which expires on July 31, 2017. 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 $850,000 outstanding at any time. The Credit Facility bears interest at either: (i) LIBOR plus between 1.50% and 3.50% ; (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 0.50% 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 June 30, 2017 , there were $148,961 in borrowings and $60,978 in letters of credit outstanding under the Revolving Line of Credit provisions of the Credit Facility, primarily to support insurance policies. At March 31, 2017 , there were $29,999 in borrowings and $27,240 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. Although the Company does not anticipate any violations of the financial covenants, its ability to comply with these covenants is dependent upon achieving earnings and cash flow projections. As of June 30, 2017 , the Company had borrowing capacity under this facility of $587,604 after reductions for borrowings, letters of credit outstanding under the facility and consideration of covenant limitations. The Credit Facility also provides for a variable rate term loan (the "2013 Term Loan"). The Company repays the outstanding principal amount of the 2013 Term Loan in quarterly installments, on the first business day of each January, April, July and October. The Company maintains an interest rate swap agreement through November 2018 to reduce its exposure to interest on the variable rate portion of its long-term debt. As of June 30, 2017 and March 31, 2017 , the interest rate swap agreement had a notional amount of $302,344 and $309,375 , respectively. As of June 30, 2017 and March 31, 2017 , the interest rate swap agreement had a fair value of $475 and $309 , 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 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 June 30, 2017 , 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. The Company secures 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 Securitization Facility is classified within the current portion of long term debt on the accompanying Condensed Consolidated Balance Sheet at June 30, 2017 . The agreement governing the Securitization Facility contains restrictions and covenants, including limitations on the making of certain restricted payments, creation of certain liens, and certain corporate acts such as mergers, consolidations and the sale of all or substantially all of the Company's assets. 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. 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. Receivables Purchase Agreement On March 28, 2016, the Company entered into a Purchase Agreement ("Receivables Purchase Agreement") to sell certain accounts receivables to a financial institution without recourse. The Company is the servicer of the accounts receivable under the Receivables Purchase Agreement. As of March 31, 2016, the maximum amount available under the Receivables Purchase Agreement was $90,000 . Interest rates are based on LIBOR plus 0.65% - 0.70% . As of June 30, 2017 and March 31, 2017 , the Company sold $0 and $78,006 , respectively, worth of eligible accounts receivable. 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: June 30, 2017 March 31, 2017 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 1,281,034 $ 1,289,639 $ 1,196,300 $ 1,178,968 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	3 Months Ended
	Jun. 30, 2017
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 June 30, (in thousands) 2017 2016 Weighted-average common shares outstanding – basic 49,341 49,271 Net effect of dilutive stock options and nonvested stock — 142 Weighted-average common shares outstanding – diluted 49,341 49,413

INCOME TAXES

INCOME TAXES	3 Months Ended
	Jun. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	The Company follows the Income Taxes topic of ASC 740, which prescribes a recognition threshold and measurement attribute criteria for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return, as well as guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company 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 June 30, 2017 and March 31, 2017 , the total amount of accrued income tax-related interest and penalties was $293 and $282 , respectively. As of June 30, 2017 and March 31, 2017 , the total amount of unrecognized tax benefits was $10,398 and $10,266 , respectively, of which $10,398 and $10,266 , 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. As of June 30, 2017 , the Company has a valuation allowance against principally all of its net deferred tax assets given insufficient positive evidence to support the realization of the Company’s deferred tax assets. The Company intends to continue maintaining a valuation allowance on its deferred tax assets until there is sufficient positive evidence to support the reversal of all or some portion of these allowances. A reduction in the valuation allowance could result in a significant decrease in income tax expense in the period that the release is recorded. However, the exact timing and amount of the reduction in its valuation allowance is unknown at this time and will be subject to the earnings level the Company achieves during fiscal 2018 as well as the Company's projected income in future periods. The effective income tax rate for the three months ended June 30, 2017 , was 26.0% as compared to 31.0% for the three months ended June 30, 2016 . 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, 2013, or foreign income tax examinations by tax authorities for fiscal years ended before March 31, 2011. As of June 30, 2017 , the Company is subject to examination in one 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	3 Months Ended
	Jun. 30, 2017
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, 2017 through June 30, 2017 : Integrated Systems Precision Components Product Support Total Balance, March 31, 2017 $ 541,155 $ 532,418 $ 69,032 $ 1,142,605 Effect of exchange rate changes 3,610 1,512 (51 ) 5,071 Balance, June 30, 2017 $ 544,765 $ 533,930 $ 68,981 $ 1,147,676

PENSION AND OTHER POSTRETIREMEN

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS	3 Months Ended
	Jun. 30, 2017
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, on the accompanying Condensed Consolidated Balance Sheets. The funded status is measured as the difference between the fair value of the plan’s assets and the pension benefit obligation or accumulated postretirement benefit obligation, of the plan. In order to recognize the funded status, the Company determined the fair value of the plan assets. The majority of the plan assets are publicly traded investments which were valued based on the market price as of the date of 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 June 30, 2017 2016 Components of net periodic benefit costs: Service cost $ 1,120 $ 1,649 Interest cost 18,788 18,189 Expected return on plan assets (38,048 ) (39,058 ) Amortization of prior service credits (710 ) (446 ) Amortization of net loss 3,477 3,031 Net periodic benefit income $ (15,373 ) $ (16,635 ) Other postretirement benefits Three Months Ended June 30, 2017 2016 Components of net periodic benefit costs: Service cost $ 102 $ 179 Interest cost 1,219 1,247 Amortization of prior service credits (2,328 ) (3,366 ) Amortization of gain (1,775 ) (1,647 ) Net periodic benefit income $ (2,782 ) $ (3,587 )

STOCKHOLDERS' EQUITY STOCKHOLDE

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY	3 Months Ended
	Jun. 30, 2017
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 months ended June 30, 2017 and 2016 , 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 March 31, 2017 $ (87,212 ) $ 2,153 $ (311,119 ) $ (396,178 ) AOCI before reclassifications 11,421 552 — 11,973 Amounts reclassified from AOCI — (369 ) (1,347 ) (2 ) (1,716 ) Net current period AOCI 11,421 183 (1,347 ) 10,257 Balance June 30, 2017 $ (75,791 ) $ 2,336 $ (312,466 ) $ (385,921 ) Balance March 31, 2016 $ (58,816 ) $ (2,920 ) $ (285,426 ) $ (347,162 ) AOCI before reclassifications (14,797 ) (553 ) — (15,350 ) Amounts reclassified from AOCI — (13 ) (1,572 ) (2 ) (1,585 ) Net current period AOCI (14,797 ) (566 ) (1,572 ) (16,935 ) Balance June 30, 2016 $ (73,613 ) $ (3,486 ) $ (286,998 ) $ (364,097 ) (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. Issuance of Restricted Stock Awards and Stock Options Included in the employment agreement for the Company's CEO were restricted stock awards totaling 179,134 shares. The awards generally vest in full after four to seven years. The fair value of the awards is determined by the product of the number of shares granted, the grant date market price of the Company's stock and adjusted for the market conditions necessary to achieve the awards. Certain of these awards contain performance conditions, in addition to service conditions. The fair value of the awards is expensed over a graded vesting period of the requisite service period of four to seven years. In addition the employment agreement included 150,000 stock options with an exercise price of $30.86 , a contractual term of 10 years and vesting over a 4 -year period.

SEGMENTS

SEGMENTS	3 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
SEGMENTS	SEGMENTS The Company has four reportable segments: Integrated Systems, Aerospace Structures, Precision Components and Product Support. The Company’s reportable segments are aligned with how the business is managed and views the markets that the Company serves. The Chief Operating Decision Maker (the "CODM") evaluates performance and allocates resources based upon review of segment information. The CODM utilizes earnings before interest, income taxes, depreciation and amortization (“Adjusted EBITDA”) as a primary measure of segment profitability to evaluate performance of its segments and allocate resources. Integrated Systems consists of the Company’s operations that provides integrated solutions including design, development and support of proprietary components, subsystems and systems, as well as production of complex assemblies using external designs. Capabilities include hydraulic, mechanical and electro-mechanical actuation, power and control; a complete suite of aerospace gearbox solutions including engine accessory gearboxes and helicopter transmissions; active and passive heat exchange technology; fuel pumps, fuel metering units and Full Authority Digital Electronic Control fuel systems; hydro-mechanical and electromechanical primary and secondary flight controls; and a broad spectrum of surface treatment options. Aerospace Structures consists of the Company’s operations that supply commercial, business, regional and military manufacturers with large metallic and composite structures. Products include wings, wing boxes, fuselage panels, horizontal and vertical tails and sub-assemblies such as floor grids. Inclusive of most of the former Vought Aircraft Division, Aerospace Structures also has the capability to engineer detailed structural designs in metal and composites. Precision Components consists of the Company’s operations that produce close-tolerance parts primarily to customer designs and model-based definition, including a wide range of aluminum, hard metal and composite structure capabilities. Capabilities include complex machining, gear manufacturing, sheet metal fabrication, forming, advanced composite and interior structures, joining processes such as welding, autoclave bonding and conventional mechanical fasteners and a variety of special processes including: super plastic titanium forming, aluminum and titanium chemical milling and surface treatments. Product Support consists of the Company’s operations that provide full life cycle solutions for commercial, regional and military aircraft. The Company’s extensive product and service offerings include full post-delivery value chain services that simplify the MRO supply chain. Through its line maintenance, component MRO and postproduction supply chain activities, Product Support is positioned to provide integrated planeside repair solutions globally. Capabilities include fuel tank repair, metallic and composite aircraft structures, nacelles, thrust reversers, interiors, auxiliary power units and a wide variety of pneumatic, hydraulic, fuel and mechanical accessories. 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 restructuring of $10,548 for the three months ended June 30, 2017 . 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 June 30, 2017 2016 Net sales: Integrated Systems $ 238,136 $ 257,356 Aerospace Structures 275,976 331,596 Precision Components 236,870 254,561 Product Support 66,433 84,199 Elimination of inter-segment sales (35,726 ) (34,459 ) $ 781,689 $ 893,253 (Loss) income before income taxes: Operating income (expense): Integrated Systems $ 47,417 $ 47,986 Aerospace Structures (281 ) 9,163 Precision Components (3,265 ) (7,782 ) Product Support 8,437 14,059 Corporate (33,899 ) (16,700 ) 18,409 46,726 Interest expense and other 21,018 18,126 $ (2,609 ) $ 28,600 Depreciation and amortization: Integrated Systems $ 9,951 $ 10,303 Aerospace Structures 19,391 17,962 Precision Components 7,749 14,330 Product Support 1,738 2,484 Corporate 302 383 $ 39,131 $ 45,462 Amortization of acquired contract liabilities, net: Integrated Systems $ 7,303 $ 10,337 Aerospace Structures 21,293 18,438 Precision Components 877 574 $ 29,473 $ 29,349 Three Months Ended June 30, 2017 2016 Adjusted EBITDA: Integrated Systems $ 50,065 $ 47,952 Aerospace Structures (2,183 ) 8,687 Precision Components 3,607 5,974 Product Support 10,175 16,543 Corporate (33,597 ) (16,317 ) $ 28,067 $ 62,839 Capital expenditures: Integrated Systems $ 2,565 $ 3,228 Aerospace Structures 4,417 3,833 Precision Components 4,062 4,902 Product Support 261 630 Corporate 780 130 $ 12,085 $ 12,723 June 30, 2017 March 31, 2017 Total Assets: Integrated Systems $ 1,296,558 $ 1,281,828 Aerospace Structures 1,433,739 1,548,239 Precision Components 1,256,392 1,262,691 Product Support 266,142 284,231 Corporate 23,213 37,611 $ 4,276,044 $ 4,414,600 During the three months ended June 30, 2017 and 2016 , the Company had international sales of $178,407 and $180,419 , respectively.

SELECTED CONSOLIDATING FINANCIA

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS	3 Months Ended
	Jun. 30, 2017
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 foreign 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 June 30, 2017 and March 31, 2017 , Condensed Consolidating Statements of Comprehensive Income for the three months ended June 30, 2017 and 2016 , and Condensed Consolidating Statements of Cash Flows for the three months ended June 30, 2017 and 2016 . SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS: June 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Current assets: Cash and cash equivalents $ 654 $ 82 $ 36,232 $ — $ 36,968 Trade and other receivables, net 222 91,504 252,236 — 343,962 Inventories — 1,141,422 107,234 — 1,248,656 Prepaid expenses and other 8,361 13,830 12,022 — 34,213 Total current assets 9,237 1,246,838 407,724 — 1,663,799 Property and equipment, net 8,794 661,987 123,989 — 794,770 Goodwill and other intangible assets, net — 1,546,059 180,142 — 1,726,201 Other, net 20,984 52,986 17,304 — 91,274 Intercompany investments and advances 2,206,150 81,541 74,065 (2,361,756 ) — Total assets $ 2,245,165 $ 3,589,411 $ 803,224 $ (2,361,756 ) $ 4,276,044 Current liabilities: Current portion of long-term debt $ 30,592 $ 14,377 $ 95,900 $ — $ 140,869 Accounts payable 10,082 371,450 38,728 — 420,260 Accrued expenses 40,378 514,863 45,237 — 600,478 Total current liabilities 81,052 900,690 179,865 — 1,161,607 Long-term debt, less current portion 1,083,263 56,902 — 1,140,165 Intercompany advances 219,690 1,839,709 380,279 (2,439,678 ) — Accrued pension and other postretirement benefits, noncurrent 6,784 565,717 — — 572,501 Deferred income taxes and other 1,485 506,840 40,556 — 548,881 Total stockholders’ equity 852,891 (280,447 ) 202,524 77,922 852,890 Total liabilities and stockholders’ equity $ 2,245,165 $ 3,589,411 $ 803,224 $ (2,361,756 ) $ 4,276,044 SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS: March 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Current assets: Cash and cash equivalents $ 19,942 $ 24,137 $ 25,554 $ — $ 69,633 Trade and other receivables, net 546 34,874 276,372 — 311,792 Inventories — 1,243,461 96,714 — 1,340,175 Prepaid expenses and other 7,763 11,678 10,623 — 30,064 Assets held for sale — 3,250 18,005 — 21,255 Total current assets 28,251 1,317,400 427,268 — 1,772,919 Property and equipment, net 8,315 673,153 123,562 — 805,030 Goodwill and other intangible assets, net — 1,560,050 174,919 — 1,734,969 Other, net 17,902 67,955 15,825 — 101,682 Intercompany investments and advances 2,057,534 81,541 77,090 (2,216,165 ) — Total assets $ 2,112,002 $ 3,700,099 $ 818,664 $ (2,216,165 ) $ 4,414,600 Current liabilities: Current portion of long-term debt $ 33,298 $ 14,432 $ 112,900 $ — $ 160,630 Accounts payable 17,291 426,646 37,306 — 481,243 Accrued expenses 53,829 578,457 42,093 — 674,379 Liabilities related to assets held for sale — — 18,008 — 18,008 Total current liabilities 104,418 1,019,535 210,307 — 1,334,260 Long-term debt, less current portion 974,693 60,977 — — 1,035,670 Intercompany advances 178,381 1,754,529 370,907 (2,303,817 ) — Accrued pension and other postretirement benefits, noncurrent 6,633 585,501 — — 592,134 Deferred income taxes and other 1,403 564,358 40,302 — 606,063 Total stockholders’ equity 846,474 (284,801 ) 197,148 87,652 846,473 Total liabilities and stockholders’ equity $ 2,112,002 $ 3,700,099 $ 818,664 $ (2,216,165 ) $ 4,414,600 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 715,090 $ 87,911 $ (21,312 ) $ 781,689 Operating costs and expenses: Cost of sales — 575,404 73,254 (21,312 ) 627,346 Selling, general and administrative 22,989 44,853 11,461 — 79,303 Depreciation and amortization 302 34,773 4,056 — 39,131 Restructuring 10,547 6,446 507 — 17,500 33,838 661,476 89,278 (21,312 ) 763,280 Operating (loss) income (33,838 ) 53,614 (1,367 ) — 18,409 Intercompany interest and charges (43,242 ) 41,022 2,220 — — Interest expense and other 17,042 2,781 1,195 — 21,018 (Loss) income before income taxes (7,638 ) 9,811 (4,782 ) — (2,609 ) Income tax (benefit) expense (7,074 ) 5,763 633 — (678 ) Net (loss) income (564 ) 4,048 (5,415 ) — (1,931 ) Other comprehensive income (loss) 183 (1,347 ) 11,421 — 10,257 Total comprehensive (loss) income $ (381 ) $ 2,701 $ 6,006 $ — $ 8,326 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 817,345 $ 94,651 $ (18,743 ) $ 893,253 Operating costs and expenses: Cost of sales — 668,539 76,592 (18,743 ) 726,388 Selling, general and administrative 14,444 45,907 7,675 — 68,026 Depreciation and amortization 383 40,766 4,313 — 45,462 Restructuring 1,860 4,791 — — 6,651 16,687 760,003 88,580 (18,743 ) 846,527 Operating (loss) income (16,687 ) 57,342 6,071 — 46,726 Intercompany interest and charges (51,564 ) 49,173 2,391 — — Interest expense and other 17,375 2,282 (1,531 ) — 18,126 Income before income taxes 17,502 5,887 5,211 — 28,600 Income tax expense 2,050 5,289 1,527 — 8,866 Net income 15,452 598 3,684 — 19,734 Other comprehensive loss (566 ) (1,572 ) (14,797 ) — (16,935 ) Total comprehensive income (loss) $ 14,886 $ (974 ) $ (11,113 ) $ — $ 2,799 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS: For the Three Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net (loss) income $ (564 ) $ 4,048 $ (5,415 ) $ — $ (1,931 ) Adjustments to reconcile net income to net cash (used in) operating activities provided by (24,495 ) (101,363 ) 28,086 655 (97,117 ) Net cash (used in) provided by operating activities (25,059 ) (97,315 ) 22,671 655 (99,048 ) Capital expenditures (780 ) (10,375 ) (930 ) — (12,085 ) Proceeds from sale of assets — 1,183 168 — 1,351 Net cash used in investing activities (780 ) (9,192 ) (762 ) — (10,734 ) Net increase in revolving credit facility 118,961 — — — 118,961 Retirements and repayments of debt (12,139 ) (4,129 ) (17,000 ) — (33,268 ) Payments of deferred financing costs (7,160 ) — — — (7,160 ) Dividends paid (1,984 ) — — — (1,984 ) Repurchase of restricted shares for minimum tax obligation (296 ) — — — (296 ) Intercompany financing and advances (90,831 ) 86,581 4,905 (655 ) — Net cash provided by (used in)financing activities 6,551 82,452 (12,095 ) (655 ) 76,253 Effect of exchange rate changes on cash — — 864 — 864 Net change in cash and cash equivalents (19,288 ) (24,055 ) 10,678 — (32,665 ) Cash and cash equivalents at beginning of period 19,942 24,137 25,554 — 69,633 Cash and cash equivalents at end of period $ 654 $ 82 $ 36,232 $ — $ 36,968 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS: For the Three Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net income $ 15,452 $ 598 $ 3,684 $ — $ 19,734 Adjustments to reconcile net income to net cash provided by (used in) operating activities (2,131 ) (121,953 ) 19,688 627 (103,769 ) Net cash provided by (used in) operating activities 13,321 (121,355 ) 23,372 627 (84,035 ) Capital expenditures (130 ) (8,961 ) (3,632 ) — (12,723 ) Proceeds from sale of assets — 108 840 — 948 Acquisitions, net of cash acquired — 9 — — 9 Net cash used in investing activities (130 ) (8,844 ) (2,792 ) — (11,766 ) Net increase in revolving credit facility 174,091 — — — 174,091 Retirements and repayments of debt (7,102 ) (3,687 ) (36,200 ) — (46,989 ) Payments of deferred financing costs (10,689 ) — — — (10,689 ) Dividends paid (1,981 ) — — — (1,981 ) Repayment of government grant — (7,285 ) — — (7,285 ) Repurchase of restricted shares for minimum tax obligations (171 ) — — — (171 ) Intercompany financing and advances (168,266 ) 141,776 27,117 (627 ) — Net cash (used in) provided by financing activities (14,118 ) 130,804 (9,083 ) (627 ) 106,976 Effect of exchange rate changes on cash — — (860 ) — (860 ) Net change in cash and cash equivalents (927 ) 605 10,637 — 10,315 Cash and cash equivalents at beginning of period 1,544 201 19,239 — 20,984 Cash and cash equivalents at end of period $ 617 $ 806 $ 29,876 $ — $ 31,299

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2017
Commitments and Contingencies [Abstract]
Commitments and Contingencies Disclosure [Text Block]	COMMITMENTS AND CONTINGENCIES As previously reported, on December 22, 2016, Triumph Aerostructures, LLC, a wholly owned subsidiary of the Company (“Triumph Aerostructures”), initiated litigation against Bombardier, Inc. (“Bombardier”) in the Quebec Superior Court, District of Montreal. The lawsuit related to Bombardier’s failure to pay to Triumph Aerostructures certain non-recurring expenses incurred by Triumph Aerostructures during the development phase of a program pursuant to which Triumph Aerostructures agreed to design, manufacture, and supply the wing and related components for Bombardier’s Global 7000 business aircraft. In May 2017, Triumph Aerostructures and Bombardier entered into a comprehensive settlement agreement that resolves all outstanding commercial disputes between them, including all pending litigation, related to the design, manufacture and supply of wing components for Bombardier’s Global 7000 business aircraft. The settlement resets the commercial relationship between the companies and allows each company to better achieve its business objectives going forward. In the ordinary course of business, the Company is involved in disputes, claims and lawsuits with employees, suppliers and customers, as well as governmental and regulatory inquiries, that it deems to be immaterial. Some may involve claims or potential claims of substantial damages, fines, penalties or injunctive relief. While the Company cannot predict the outcome of any pending or future litigation or proceeding and no assurances can be given, the Company does not believe that any pending matter will have a material effect, individually or in the aggregate, on its financial position or results of operations.

RESTRUCTURING COSTS RESTRUCTURI

RESTRUCTURING COSTS RESTRUCTURING COSTS	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs [Table Text Block]	The restructuring charges recognized for the three months ended June 30, 2017 and 2016 , by type and by segment consisted of the following: For the Three Months Ended June 30, 2017 Integrated Systems Aerospace Structures Precision Components Product Support Corporate Total Termination benefits $ — $ — $ 256 $ — $ — $ 256 Facility closure and other exit costs — 1,406 1,898 — — 3,304 Other 615 — 2,017 760 10,548 13,940 Total Restructuring 615 1,406 4,171 760 10,548 17,500 Accelerated depreciation 546 — 314 — — 860 Total $ 1,161 $ 1,406 $ 4,485 $ 760 $ 10,548 $ 18,360 For the Three Months Ended June 30, 2016 Integrated Systems Aerospace Structures Precision Components Product Support Corporate Total Termination benefits $ — $ — $ 27 $ 25 $ — $ 52 Facility closure and other exit costs — — 247 — — 247 Other — 3,052 1,440 — 1,860 6,352 Total Restructuring — 3,052 1,714 25 1,860 6,651 Accelerated depreciation 46 — 3,300 145 — 3,491 Total $ 46 $ 3,052 $ 5,014 $ 170 $ 1,860 $ 10,142	14. RESTRUCTURING COSTS During the fiscal year ended March 31, 2017, the Company committed to a restructuring of certain of its businesses as well as the consolidation of certain of its facilities ("2017 Restructuring Plan"). The Company expects to reduce its footprint by approximately 1.0 million square feet, to reduce head count by approximately 100 employees and to amend certain contracts. Over the next few fiscal years, the Company estimates that it will record aggregate pre-tax charges of $55,000 to $60,000 related to these programs, which represent employee termination benefits, contract termination costs, accelerated depreciation and facility closure and other exit costs, and will result in future cash outlays. During the fiscal year ended March 31, 2016, the Company committed to a restructuring of certain of its businesses as well as the consolidation of certain of its facilities ("2016 Restructuring Plan"). The Company expects to reduce its footprint by approximately 3.5 million square feet and to reduce head count by approximately 1,200 employees. Over the next few fiscal years, the Company estimates that it will record aggregate pre-tax charges of $140,000 to $150,000 related to these programs, which represent employee termination benefits, contract termination costs, accelerated depreciation and facility closure and other exit costs, and will result in future cash outlays. The following table provides a summary of the Company's current aggregate cost estimates by major type of expense associated with the restructuring plans noted above: Type of expense: Total estimated amount expected to be incurred Termination benefits $ 21,000 Facility closure and other exit costs (1) 44,000 Contract termination costs 18,000 Accelerated depreciation charges (2) 37,000 Other (3) 89,000 $ 209,000 (1) I ncludes costs to transfer product lines among facilities and outplacement and employee relocation costs. (2) Accelerated depreciation charges are recorded as part of Depreciation and amortization on the Consolidated Statement of Operations. (3) Consists of other costs directly related to the plan, including project management, legal, regulatory costs and other transformation related costs, such as costs to amend certain contracts. The restructuring charges recognized for the three months ended June 30, 2017 and 2016 , by type and by segment consisted of the following: For the Three Months Ended June 30, 2017 Integrated Systems Aerospace Structures Precision Components Product Support Corporate Total Termination benefits $ — $ — $ 256 $ — $ — $ 256 Facility closure and other exit costs — 1,406 1,898 — — 3,304 Other 615 — 2,017 760 10,548 13,940 Total Restructuring 615 1,406 4,171 760 10,548 17,500 Accelerated depreciation 546 — 314 — — 860 Total $ 1,161 $ 1,406 $ 4,485 $ 760 $ 10,548 $ 18,360 For the Three Months Ended June 30, 2016 Integrated Systems Aerospace Structures Precision Components Product Support Corporate Total Termination benefits $ — $ — $ 27 $ 25 $ — $ 52 Facility closure and other exit costs — — 247 — — 247 Other — 3,052 1,440 — 1,860 6,352 Total Restructuring — 3,052 1,714 25 1,860 6,651 Accelerated depreciation 46 — 3,300 145 — 3,491 Total $ 46 $ 3,052 $ 5,014 $ 170 $ 1,860 $ 10,142 Termination benefits include employee retention, severance and benefit payments for terminated employees. Facility closure costs include general operating costs incurred subsequent to production shutdown as well as equipment relocation and other associated costs. Contract termination costs include costs associated with terminating existing leases and supplier agreements. Other transformation costs include legal, outplacement and employee relocation costs, and other employee-related costs and costs to amend certain contracts.

SUMMARY OF SIGNIFICANT ACCOUN22

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2017
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 Accounting Standards Codification ("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 toward 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 June 30, 2017 , 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 $(5,289) , $(3,915) and $(0.08) , net of tax, respectively. For the three months ended June 30, 2016 , cumulative catch-up adjustments from changes in estimates decreased operating income, net income and earnings per share by approximately $(27,968) , $(19,298) and $(0.39) , 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 previously disclosed, the Company recognized a provision for forward losses associated with our long-term contract on the 747-8 and Bombardier programs. There is still risk similar to what the Company has experienced on the 747-8 and Bombardier programs. Particularly, 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, potential need to negotiate facility lease extensions or alternatively relocate work and many other risks, will determine the ultimate performance of these programs. Included in net sales of Integrated Systems, Aerospace Structures and Precision Components 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 June 30, 2017 and 2016 , the Company recognized $29,473 and $29,349 , respectively, into net sales on the accompanying Condensed Consolidated Statements of Income. Product Support 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 11% and 5% of total trade accounts receivable as of June 30, 2017 and March 31, 2017 , respectively. Trade accounts receivable from Gulfstream (representing commercial, military and space) represented approximately 21% and 3% of total trade accounts receivable as of June 30, 2017 and March 31, 2017 , respectively. The Company had no other concentrations of credit risk of more than 10% . Sales to Boeing for the three months ended June 30, 2017 , were $257,311 , or 33% of net sales, of which $53,530 , $102,396 , $99,292 and $2,093 were from the Integrated Systems, Aerospace Structures, Precision Components and Product Support, respectively. Sales to Boeing for the three months ended June 30, 2016 , were $337,988 , or 38% of net sales, of which $53,760 , $162,935 , $112,823 and $8,470 were from the Integrated Systems, Aerospace Structures, Precision Components and Product Support, respectively. Sales to Gulfstream for the three months ended June 30, 2017 , were $116,026 , or 15% of net sales, of which $306 , $113,346 , $2,364 and $10 were from the Integrated Systems, Aerospace Structures, Precision Components and Product Support, respectively. Sales to Gulfstream for the three months ended June 30, 2016 , were $107,627 , or 12% of net sales, of which $558 , $104,795 , $2,254 and $20 were from the Integrated Systems, Aerospace Structures, Precision Components and Product Support, 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 June 30, 2017 and 2016 , was $(41) and $1,956 , 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: June 30, 2017 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.6 $ 659,179 $ (246,773 ) $ 412,406 Product rights, technology and licenses 11.4 54,470 (40,074 ) 14,396 Non-compete agreements and other 16.3 2,756 (830 ) 1,926 Tradenames 10.3 163,000 (13,203 ) 149,797 Total intangibles, net $ 879,405 $ (300,880 ) $ 578,525 March 31, 2017 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.6 $ 663,165 $ (241,124 ) $ 422,041 Product rights, technology and licenses 11.4 54,347 (39,486 ) 14,861 Non-compete agreements and other 16.3 2,756 (786 ) 1,970 Tradenames 10.3 163,000 (9,508 ) 153,492 Total intangibles, net $ 883,268 $ (290,904 ) $ 592,364 Amortization expense for the three months ended June 30, 2017 and 2016 , was $14,847 and $13,631 , 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 divestitures and interest rate swap (see Note 3 and 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 June 30, 2017 and March 31, 2017 , were $83,810 and $107,088 , respectively
Cash Flow, Supplemental Disclosures [Text Block]	Supplemental Cash Flow Information The Company paid $2,749 and $1,198 for income taxes, net of refunds, for the three months ended June 30, 2017 and 2016 , respectively. The Company made interest payments of $24,007 and $25,751 for the three months ended June 30, 2017 and 2016 , respectively. As of June 30, 2017 , the Company remains able to purchase an additional 2,277,789 shares under the existing stock repurchase program. However, there are certain restrictions placed on the repurchase program by the Company's lenders that prevent any repurchases at this time.

SUMMARY OF SIGNIFICANT ACCOUN23

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Table Text Block]	June 30, 2017 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.6 $ 659,179 $ (246,773 ) $ 412,406 Product rights, technology and licenses 11.4 54,470 (40,074 ) 14,396 Non-compete agreements and other 16.3 2,756 (830 ) 1,926 Tradenames 10.3 163,000 (13,203 ) 149,797 Total intangibles, net $ 879,405 $ (300,880 ) $ 578,525 March 31, 2017 Weighted- Average Life Gross Carrying Amount Accumulated Amortization Net Customer relationships 16.6 $ 663,165 $ (241,124 ) $ 422,041 Product rights, technology and licenses 11.4 54,347 (39,486 ) 14,861 Non-compete agreements and other 16.3 2,756 (786 ) 1,970 Tradenames 10.3 163,000 (9,508 ) 153,492 Total intangibles, net $ 883,268 $ (290,904 ) $ 592,364

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Jun. 30, 2017
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 development program inventory, comprised principally of capitalized pre-production costs, excluding progress payments related to the Company's contracts with Bombardier for the Global 7000/8000 program ("Bombardier") and Embraer for the second generation E-Jet program ("Embraer") are as follows: June 30, 2017 Inventory Capitalized Pre-Production Forward Loss Provision Total Inventory, net Bombardier $ 140,809 $ 618,070 $ (390,758 ) $ 368,121 Embraer 17,490 176,607 (5,800 ) 188,297 Total $ 158,299 $ 794,677 $ (396,558 ) $ 556,418 March 31, 2017 Inventory Capitalized Pre-Production Forward Loss Provision Total Inventory, net Bombardier $ 89,650 $ 589,449 $ (399,758 ) $ 279,341 Embraer 14,987 173,169 (5,800 ) 182,356 Total $ 104,637 $ 762,618 $ (405,558 ) $ 461,697
Schedule of components of inventories	June 30, 2017 March 31, 2017 Raw materials $ 95,095 $ 89,069 Work-in-process, including manufactured and purchased components 1,403,460 1,297,989 Finished goods 127,258 118,265 Rotable assets 55,603 57,337 Less: unliquidated progress payments (432,760 ) (222,485 ) Total inventories $ 1,248,656 $ 1,340,175

LONG-TERM DEBT LONG-TERM DEBT (

LONG-TERM DEBT LONG-TERM DEBT (Tables)	3 Months Ended
	Jun. 30, 2017
Long-term debt
Schedule of Long-term Debt Instruments [Table Text Block]	June 30, 2017 March 31, 2017 Revolving line of credit $ 148,961 $ 29,999 Term loan 302,344 309,375 Receivable securitization facility 95,900 112,900 Capital leases 63,561 72,800 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 (12,710 ) (11,752 ) 1,281,034 1,196,300 Less: Current portion 140,869 160,630 $ 1,140,165 $ 1,035,670

LONG-TERM DEBT Fair Value Measu

LONG-TERM DEBT Fair Value Measurements (Tables)	3 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping [Table Text Block]	June 30, 2017 March 31, 2017 Carrying Value Fair Value Carrying Value Fair Value Long-term debt $ 1,281,034 $ 1,289,639 $ 1,196,300 $ 1,178,968

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Reconciliation between the weighted average outstanding shares used in calculation of basic and diluted earnings per share	Three Months Ended June 30, (in thousands) 2017 2016 Weighted-average common shares outstanding – basic 49,341 49,271 Net effect of dilutive stock options and nonvested stock — 142 Weighted-average common shares outstanding – diluted 49,341 49,413

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying value of goodwill by reportable segment	Integrated Systems Precision Components Product Support Total Balance, March 31, 2017 $ 541,155 $ 532,418 $ 69,032 $ 1,142,605 Effect of exchange rate changes 3,610 1,512 (51 ) 5,071 Balance, June 30, 2017 $ 544,765 $ 533,930 $ 68,981 $ 1,147,676

PENSION AND OTHER POSTRETIREM29

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Tables)	3 Months Ended
	Jun. 30, 2017
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 June 30, 2017 2016 Components of net periodic benefit costs: Service cost $ 1,120 $ 1,649 Interest cost 18,788 18,189 Expected return on plan assets (38,048 ) (39,058 ) Amortization of prior service credits (710 ) (446 ) Amortization of net loss 3,477 3,031 Net periodic benefit income $ (15,373 ) $ (16,635 )
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 June 30, 2017 2016 Components of net periodic benefit costs: Service cost $ 102 $ 179 Interest cost 1,219 1,247 Amortization of prior service credits (2,328 ) (3,366 ) Amortization of gain (1,775 ) (1,647 ) Net periodic benefit income $ (2,782 ) $ (3,587 )

STOCKHOLDERS' EQUITY STOCKHOL30

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Jun. 30, 2017
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 months ended June 30, 2017 and 2016 , 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 March 31, 2017 $ (87,212 ) $ 2,153 $ (311,119 ) $ (396,178 ) AOCI before reclassifications 11,421 552 — 11,973 Amounts reclassified from AOCI — (369 ) (1,347 ) (2 ) (1,716 ) Net current period AOCI 11,421 183 (1,347 ) 10,257 Balance June 30, 2017 $ (75,791 ) $ 2,336 $ (312,466 ) $ (385,921 ) Balance March 31, 2016 $ (58,816 ) $ (2,920 ) $ (285,426 ) $ (347,162 ) AOCI before reclassifications (14,797 ) (553 ) — (15,350 ) Amounts reclassified from AOCI — (13 ) (1,572 ) (2 ) (1,585 ) Net current period AOCI (14,797 ) (566 ) (1,572 ) (16,935 ) Balance June 30, 2016 $ (73,613 ) $ (3,486 ) $ (286,998 ) $ (364,097 )

SEGMENTS (Tables)

SEGMENTS (Tables)	3 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule of selected financial information for each reportable segment and the reconciliation of EBITDA to operating income	Three Months Ended June 30, 2017 2016 Net sales: Integrated Systems $ 238,136 $ 257,356 Aerospace Structures 275,976 331,596 Precision Components 236,870 254,561 Product Support 66,433 84,199 Elimination of inter-segment sales (35,726 ) (34,459 ) $ 781,689 $ 893,253 (Loss) income before income taxes: Operating income (expense): Integrated Systems $ 47,417 $ 47,986 Aerospace Structures (281 ) 9,163 Precision Components (3,265 ) (7,782 ) Product Support 8,437 14,059 Corporate (33,899 ) (16,700 ) 18,409 46,726 Interest expense and other 21,018 18,126 $ (2,609 ) $ 28,600 Depreciation and amortization: Integrated Systems $ 9,951 $ 10,303 Aerospace Structures 19,391 17,962 Precision Components 7,749 14,330 Product Support 1,738 2,484 Corporate 302 383 $ 39,131 $ 45,462 Amortization of acquired contract liabilities, net: Integrated Systems $ 7,303 $ 10,337 Aerospace Structures 21,293 18,438 Precision Components 877 574 $ 29,473 $ 29,349 Three Months Ended June 30, 2017 2016 Adjusted EBITDA: Integrated Systems $ 50,065 $ 47,952 Aerospace Structures (2,183 ) 8,687 Precision Components 3,607 5,974 Product Support 10,175 16,543 Corporate (33,597 ) (16,317 ) $ 28,067 $ 62,839 Capital expenditures: Integrated Systems $ 2,565 $ 3,228 Aerospace Structures 4,417 3,833 Precision Components 4,062 4,902 Product Support 261 630 Corporate 780 130 $ 12,085 $ 12,723
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	June 30, 2017 March 31, 2017 Total Assets: Integrated Systems $ 1,296,558 $ 1,281,828 Aerospace Structures 1,433,739 1,548,239 Precision Components 1,256,392 1,262,691 Product Support 266,142 284,231 Corporate 23,213 37,611 $ 4,276,044 $ 4,414,600

SELECTED CONSOLIDATING FINANC32

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Tables)	3 Months Ended
	Jun. 30, 2017
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Summary of consolidating balance sheets	June 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Current assets: Cash and cash equivalents $ 654 $ 82 $ 36,232 $ — $ 36,968 Trade and other receivables, net 222 91,504 252,236 — 343,962 Inventories — 1,141,422 107,234 — 1,248,656 Prepaid expenses and other 8,361 13,830 12,022 — 34,213 Total current assets 9,237 1,246,838 407,724 — 1,663,799 Property and equipment, net 8,794 661,987 123,989 — 794,770 Goodwill and other intangible assets, net — 1,546,059 180,142 — 1,726,201 Other, net 20,984 52,986 17,304 — 91,274 Intercompany investments and advances 2,206,150 81,541 74,065 (2,361,756 ) — Total assets $ 2,245,165 $ 3,589,411 $ 803,224 $ (2,361,756 ) $ 4,276,044 Current liabilities: Current portion of long-term debt $ 30,592 $ 14,377 $ 95,900 $ — $ 140,869 Accounts payable 10,082 371,450 38,728 — 420,260 Accrued expenses 40,378 514,863 45,237 — 600,478 Total current liabilities 81,052 900,690 179,865 — 1,161,607 Long-term debt, less current portion 1,083,263 56,902 — 1,140,165 Intercompany advances 219,690 1,839,709 380,279 (2,439,678 ) — Accrued pension and other postretirement benefits, noncurrent 6,784 565,717 — — 572,501 Deferred income taxes and other 1,485 506,840 40,556 — 548,881 Total stockholders’ equity 852,891 (280,447 ) 202,524 77,922 852,890 Total liabilities and stockholders’ equity $ 2,245,165 $ 3,589,411 $ 803,224 $ (2,361,756 ) $ 4,276,044 SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS: March 31, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Current assets: Cash and cash equivalents $ 19,942 $ 24,137 $ 25,554 $ — $ 69,633 Trade and other receivables, net 546 34,874 276,372 — 311,792 Inventories — 1,243,461 96,714 — 1,340,175 Prepaid expenses and other 7,763 11,678 10,623 — 30,064 Assets held for sale — 3,250 18,005 — 21,255 Total current assets 28,251 1,317,400 427,268 — 1,772,919 Property and equipment, net 8,315 673,153 123,562 — 805,030 Goodwill and other intangible assets, net — 1,560,050 174,919 — 1,734,969 Other, net 17,902 67,955 15,825 — 101,682 Intercompany investments and advances 2,057,534 81,541 77,090 (2,216,165 ) — Total assets $ 2,112,002 $ 3,700,099 $ 818,664 $ (2,216,165 ) $ 4,414,600 Current liabilities: Current portion of long-term debt $ 33,298 $ 14,432 $ 112,900 $ — $ 160,630 Accounts payable 17,291 426,646 37,306 — 481,243 Accrued expenses 53,829 578,457 42,093 — 674,379 Liabilities related to assets held for sale — — 18,008 — 18,008 Total current liabilities 104,418 1,019,535 210,307 — 1,334,260 Long-term debt, less current portion 974,693 60,977 — — 1,035,670 Intercompany advances 178,381 1,754,529 370,907 (2,303,817 ) — Accrued pension and other postretirement benefits, noncurrent 6,633 585,501 — — 592,134 Deferred income taxes and other 1,403 564,358 40,302 — 606,063 Total stockholders’ equity 846,474 (284,801 ) 197,148 87,652 846,473 Total liabilities and stockholders’ equity $ 2,112,002 $ 3,700,099 $ 818,664 $ (2,216,165 ) $ 4,414,600
Condensed consolidating statements of income	CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 715,090 $ 87,911 $ (21,312 ) $ 781,689 Operating costs and expenses: Cost of sales — 575,404 73,254 (21,312 ) 627,346 Selling, general and administrative 22,989 44,853 11,461 — 79,303 Depreciation and amortization 302 34,773 4,056 — 39,131 Restructuring 10,547 6,446 507 — 17,500 33,838 661,476 89,278 (21,312 ) 763,280 Operating (loss) income (33,838 ) 53,614 (1,367 ) — 18,409 Intercompany interest and charges (43,242 ) 41,022 2,220 — — Interest expense and other 17,042 2,781 1,195 — 21,018 (Loss) income before income taxes (7,638 ) 9,811 (4,782 ) — (2,609 ) Income tax (benefit) expense (7,074 ) 5,763 633 — (678 ) Net (loss) income (564 ) 4,048 (5,415 ) — (1,931 ) Other comprehensive income (loss) 183 (1,347 ) 11,421 — 10,257 Total comprehensive (loss) income $ (381 ) $ 2,701 $ 6,006 $ — $ 8,326 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 817,345 $ 94,651 $ (18,743 ) $ 893,253 Operating costs and expenses: Cost of sales — 668,539 76,592 (18,743 ) 726,388 Selling, general and administrative 14,444 45,907 7,675 — 68,026 Depreciation and amortization 383 40,766 4,313 — 45,462 Restructuring 1,860 4,791 — — 6,651 16,687 760,003 88,580 (18,743 ) 846,527 Operating (loss) income (16,687 ) 57,342 6,071 — 46,726 Intercompany interest and charges (51,564 ) 49,173 2,391 — — Interest expense and other 17,375 2,282 (1,531 ) — 18,126 Income before income taxes 17,502 5,887 5,211 — 28,600 Income tax expense 2,050 5,289 1,527 — 8,866 Net income 15,452 598 3,684 — 19,734 Other comprehensive loss (566 ) (1,572 ) (14,797 ) — (16,935 ) Total comprehensive income (loss) $ 14,886 $ (974 ) $ (11,113 ) $ — $ 2,799 CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME: For the Three Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ 715,090 $ 87,911 $ (21,312 ) $ 781,689 Operating costs and expenses: Cost of sales — 575,404 73,254 (21,312 ) 627,346 Selling, general and administrative 22,989 44,853 11,461 — 79,303 Depreciation and amortization 302 34,773 4,056 — 39,131 Restructuring 10,547 6,446 507 — 17,500 33,838 661,476 89,278 (21,312 ) 763,280 Operating (loss) income (33,838 ) 53,614 (1,367 ) — 18,409 Intercompany interest and charges (43,242 ) 41,022 2,220 — — Interest expense and other 17,042 2,781 1,195 — 21,018 (Loss) income before income taxes (7,638 ) 9,811 (4,782 ) — (2,609 ) Income tax (benefit) expense (7,074 ) 5,763 633 — (678 ) Net (loss) income (564 ) 4,048 (5,415 ) — (1,931 ) Other comprehensive income (loss) 183 (1,347 ) 11,421 — 10,257 Total comprehensive (loss) income $ (381 ) $ 2,701 $ 6,006 $ — $ 8,326 O O
Condensed consolidating statements of cash flows	CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS: For the Three Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net (loss) income $ (564 ) $ 4,048 $ (5,415 ) $ — $ (1,931 ) Adjustments to reconcile net income to net cash (used in) operating activities provided by (24,495 ) (101,363 ) 28,086 655 (97,117 ) Net cash (used in) provided by operating activities (25,059 ) (97,315 ) 22,671 655 (99,048 ) Capital expenditures (780 ) (10,375 ) (930 ) — (12,085 ) Proceeds from sale of assets — 1,183 168 — 1,351 Net cash used in investing activities (780 ) (9,192 ) (762 ) — (10,734 ) Net increase in revolving credit facility 118,961 — — — 118,961 Retirements and repayments of debt (12,139 ) (4,129 ) (17,000 ) — (33,268 ) Payments of deferred financing costs (7,160 ) — — — (7,160 ) Dividends paid (1,984 ) — — — (1,984 ) Repurchase of restricted shares for minimum tax obligation (296 ) — — — (296 ) Intercompany financing and advances (90,831 ) 86,581 4,905 (655 ) — Net cash provided by (used in)financing activities 6,551 82,452 (12,095 ) (655 ) 76,253 Effect of exchange rate changes on cash — — 864 — 864 Net change in cash and cash equivalents (19,288 ) (24,055 ) 10,678 — (32,665 ) Cash and cash equivalents at beginning of period 19,942 24,137 25,554 — 69,633 Cash and cash equivalents at end of period $ 654 $ 82 $ 36,232 $ — $ 36,968 For the Three Months Ended June 30, 2017 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net (loss) income $ (564 ) $ 4,048 $ (5,415 ) $ — $ (1,931 ) Adjustments to reconcile net income to net cash (used in) operating activities provided by (24,495 ) (101,363 ) 28,086 655 (97,117 ) Net cash (used in) provided by operating activities (25,059 ) (97,315 ) 22,671 655 (99,048 ) Capital expenditures (780 ) (10,375 ) (930 ) — (12,085 ) Proceeds from sale of assets — 1,183 168 — 1,351 Net cash used in investing activities (780 ) (9,192 ) (762 ) — (10,734 ) Net increase in revolving credit facility 118,961 — — — 118,961 Retirements and repayments of debt (12,139 ) (4,129 ) (17,000 ) — (33,268 ) Payments of deferred financing costs (7,160 ) — — — (7,160 ) Dividends paid (1,984 ) — — — (1,984 ) Repurchase of restricted shares for minimum tax obligation (296 ) — — — (296 ) Intercompany financing and advances (90,831 ) 86,581 4,905 (655 ) — Net cash provided by (used in)financing activities 6,551 82,452 (12,095 ) (655 ) 76,253 Effect of exchange rate changes on cash — — 864 — 864 Net change in cash and cash equivalents (19,288 ) (24,055 ) 10,678 — (32,665 ) Cash and cash equivalents at beginning of period 19,942 24,137 25,554 — 69,633 Cash and cash equivalents at end of period $ 654 $ 82 $ 36,232 $ — $ 36,968 CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS: For the Three Months Ended June 30, 2016 Parent Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Total Net income $ 15,452 $ 598 $ 3,684 $ — $ 19,734 Adjustments to reconcile net income to net cash provided by (used in) operating activities (2,131 ) (121,953 ) 19,688 627 (103,769 ) Net cash provided by (used in) operating activities 13,321 (121,355 ) 23,372 627 (84,035 ) Capital expenditures (130 ) (8,961 ) (3,632 ) — (12,723 ) Proceeds from sale of assets — 108 840 — 948 Acquisitions, net of cash acquired — 9 — — 9 Net cash used in investing activities (130 ) (8,844 ) (2,792 ) — (11,766 ) Net increase in revolving credit facility 174,091 — — — 174,091 Retirements and repayments of debt (7,102 ) (3,687 ) (36,200 ) — (46,989 ) Payments of deferred financing costs (10,689 ) — — — (10,689 ) Dividends paid (1,981 ) — — — (1,981 ) Repayment of government grant — (7,285 ) — — (7,285 ) Repurchase of restricted shares for minimum tax obligations (171 ) — — — (171 ) Intercompany financing and advances (168,266 ) 141,776 27,117 (627 ) — Net cash (used in) provided by financing activities (14,118 ) 130,804 (9,083 ) (627 ) 106,976 Effect of exchange rate changes on cash — — (860 ) — (860 ) Net change in cash and cash equivalents (927 ) 605 10,637 — 10,315 Cash and cash equivalents at beginning of period 1,544 201 19,239 — 20,984 Cash and cash equivalents at end of period $ 617 $ 806 $ 29,876 $ — $ 31,299

RESTRUCTURING COSTS Schedule of

RESTRUCTURING COSTS Schedule of Restructuring Expenses (Tables)	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The following table provides a summary of the Company's current aggregate cost estimates by major type of expense associated with the restructuring plans noted above: Type of expense: Total estimated amount expected to be incurred Termination benefits $ 21,000 Facility closure and other exit costs (1) 44,000 Contract termination costs 18,000 Accelerated depreciation charges (2) 37,000 Other (3) 89,000 $ 209,000
Restructuring and Related Costs [Table Text Block]	The restructuring charges recognized for the three months ended June 30, 2017 and 2016 , by type and by segment consisted of the following: For the Three Months Ended June 30, 2017 Integrated Systems Aerospace Structures Precision Components Product Support Corporate Total Termination benefits $ — $ — $ 256 $ — $ — $ 256 Facility closure and other exit costs — 1,406 1,898 — — 3,304 Other 615 — 2,017 760 10,548 13,940 Total Restructuring 615 1,406 4,171 760 10,548 17,500 Accelerated depreciation 546 — 314 — — 860 Total $ 1,161 $ 1,406 $ 4,485 $ 760 $ 10,548 $ 18,360 For the Three Months Ended June 30, 2016 Integrated Systems Aerospace Structures Precision Components Product Support Corporate Total Termination benefits $ — $ — $ 27 $ 25 $ — $ 52 Facility closure and other exit costs — — 247 — — 247 Other — 3,052 1,440 — 1,860 6,352 Total Restructuring — 3,052 1,714 25 1,860 6,651 Accelerated depreciation 46 — 3,300 145 — 3,491 Total $ 46 $ 3,052 $ 5,014 $ 170 $ 1,860 $ 10,142	14. RESTRUCTURING COSTS During the fiscal year ended March 31, 2017, the Company committed to a restructuring of certain of its businesses as well as the consolidation of certain of its facilities ("2017 Restructuring Plan"). The Company expects to reduce its footprint by approximately 1.0 million square feet, to reduce head count by approximately 100 employees and to amend certain contracts. Over the next few fiscal years, the Company estimates that it will record aggregate pre-tax charges of $55,000 to $60,000 related to these programs, which represent employee termination benefits, contract termination costs, accelerated depreciation and facility closure and other exit costs, and will result in future cash outlays. During the fiscal year ended March 31, 2016, the Company committed to a restructuring of certain of its businesses as well as the consolidation of certain of its facilities ("2016 Restructuring Plan"). The Company expects to reduce its footprint by approximately 3.5 million square feet and to reduce head count by approximately 1,200 employees. Over the next few fiscal years, the Company estimates that it will record aggregate pre-tax charges of $140,000 to $150,000 related to these programs, which represent employee termination benefits, contract termination costs, accelerated depreciation and facility closure and other exit costs, and will result in future cash outlays. The following table provides a summary of the Company's current aggregate cost estimates by major type of expense associated with the restructuring plans noted above: Type of expense: Total estimated amount expected to be incurred Termination benefits $ 21,000 Facility closure and other exit costs (1) 44,000 Contract termination costs 18,000 Accelerated depreciation charges (2) 37,000 Other (3) 89,000 $ 209,000 (1) I ncludes costs to transfer product lines among facilities and outplacement and employee relocation costs. (2) Accelerated depreciation charges are recorded as part of Depreciation and amortization on the Consolidated Statement of Operations. (3) Consists of other costs directly related to the plan, including project management, legal, regulatory costs and other transformation related costs, such as costs to amend certain contracts. The restructuring charges recognized for the three months ended June 30, 2017 and 2016 , by type and by segment consisted of the following: For the Three Months Ended June 30, 2017 Integrated Systems Aerospace Structures Precision Components Product Support Corporate Total Termination benefits $ — $ — $ 256 $ — $ — $ 256 Facility closure and other exit costs — 1,406 1,898 — — 3,304 Other 615 — 2,017 760 10,548 13,940 Total Restructuring 615 1,406 4,171 760 10,548 17,500 Accelerated depreciation 546 — 314 — — 860 Total $ 1,161 $ 1,406 $ 4,485 $ 760 $ 10,548 $ 18,360 For the Three Months Ended June 30, 2016 Integrated Systems Aerospace Structures Precision Components Product Support Corporate Total Termination benefits $ — $ — $ 27 $ 25 $ — $ 52 Facility closure and other exit costs — — 247 — — 247 Other — 3,052 1,440 — 1,860 6,352 Total Restructuring — 3,052 1,714 25 1,860 6,651 Accelerated depreciation 46 — 3,300 145 — 3,491 Total $ 46 $ 3,052 $ 5,014 $ 170 $ 1,860 $ 10,142 Termination benefits include employee retention, severance and benefit payments for terminated employees. Facility closure costs include general operating costs incurred subsequent to production shutdown as well as equipment relocation and other associated costs. Contract termination costs include costs associated with terminating existing leases and supplier agreements. Other transformation costs include legal, outplacement and employee relocation costs, and other employee-related costs and costs to amend certain contracts.

SUMMARY OF SIGNIFICANT ACCOUN34

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2014	Mar. 31, 2017
Concentration of Credit Risk
Net sales	$ 781,689	$ 893,253
Stock-Based Compensation
Share-based Compensation	(41)	1,956
Integrated Systems [Member]
Concentration of Credit Risk
Net sales	238,136	257,356
Aerospace Structures [Member]
Concentration of Credit Risk
Net sales	275,976	331,596
Precision Components [Member]
Concentration of Credit Risk
Net sales	236,870	254,561
Product Support [Member]
Concentration of Credit Risk
Net sales	$ 66,433	$ 84,199
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	11.00%			5.00%
Boeing [Member] | Net sales | Product Support [Member]
Concentration of Credit Risk
Net sales	$ 2,093
Boeing [Member] | Net sales | Credit Concentration Risk [Member]
Concentration of Credit Risk
Concentration Risk, Percentage	33.00%	38.00%
Net sales	$ 257,311		$ 337,988
Boeing [Member] | Net sales | Credit Concentration Risk [Member] | Integrated Systems [Member]
Concentration of Credit Risk
Net sales	53,530	$ 53,760
Boeing [Member] | Net sales | Credit Concentration Risk [Member] | Aerospace Structures [Member]
Concentration of Credit Risk
Net sales	102,396	162,935
Boeing [Member] | Net sales | Credit Concentration Risk [Member] | Precision Components [Member]
Concentration of Credit Risk
Net sales	99,292	112,823
Boeing [Member] | Net sales | Credit Concentration Risk [Member] | Product Support [Member]
Concentration of Credit Risk
Net sales		8,470
Gulfstream [Member] | Net sales | Product Support [Member]
Concentration of Credit Risk
Net sales	$ 10	$ 20
Gulfstream [Member] | Net sales | Credit Concentration Risk [Member]
Concentration of Credit Risk
Concentration Risk, Percentage	15.00%	12.00%
Net sales	$ 116,026	$ 107,627
Gulfstream [Member] | Net sales | Credit Concentration Risk [Member] | Integrated Systems [Member]
Concentration of Credit Risk
Net sales	306	558
Gulfstream [Member] | Net sales | Credit Concentration Risk [Member] | Aerospace Structures [Member]
Concentration of Credit Risk
Net sales	113,346	104,795
Gulfstream [Member] | Net sales | Credit Concentration Risk [Member] | Precision Components [Member]
Concentration of Credit Risk
Net sales	$ 2,364	$ 2,254

Intangibles (Details 3)

Intangibles (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Intangible Assets
Accumulated Amortization	$ (300,880)		$ (290,904)
Total intangibles, gross	879,405		883,268
Total intangibles, net	578,525		592,364
Amortization expense	$ 14,847	$ 13,631
Customer relationships
Intangible Assets
Weighted-Average Life (in years)	16 years 7 months	16 years 7 months
Gross Carrying Amount	$ 659,179		663,165
Accumulated Amortization	(246,773)		(241,124)
Finite-lived intangible assets, net	$ 412,406		422,041
Product rights and licenses
Intangible Assets
Weighted-Average Life (in years)	11 years 5 months	11 years 5 months
Gross Carrying Amount	$ 54,470		54,347
Accumulated Amortization	(40,074)		(39,486)
Finite-lived intangible assets, net	$ 14,396		14,861
Non-compete agreements and other
Intangible Assets
Weighted-Average Life (in years)	16 years 3 months	16 years 4 months
Gross Carrying Amount	$ 2,756		2,756
Accumulated Amortization	(830)		(786)
Finite-lived intangible assets, net	$ 1,926		1,970
Tradename
Intangible Assets
Weighted-Average Life (in years)	10 years 4 months	10 years 4 months
Gross Carrying Amount	$ 163,000		163,000
Accumulated Amortization	(13,203)		(9,508)
Finite-lived intangible assets, net	$ 149,797		$ 153,492

Supplemental Cash Flow Informat

Supplemental Cash Flow Information (Details 4) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Business Acquisition [Line Items]
Income taxes paid, net of refunds received	$ 2,749	$ 1,198
Cash paid for interest	$ 24,007	$ 25,751

SUMMARY OF SIGNIFICANT ACCOUN37

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Changes in Accounting Estimates (Details 5) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Change in Accounting Estimate [Line Items]
Amortization of Acquired Contract Liabilities	$ 29,473	$ 29,349
Comprehensive Income [Member]
Change in Accounting Estimate [Line Items]
Change in Accounting Estimate	(5,289)	(27,968)
Income, net [Member]
Change in Accounting Estimate [Line Items]
Change in Accounting Estimate	(3,915)	(19,298)
Diluted earings per share [Member]
Change in Accounting Estimate [Line Items]
Change in Accounting Estimate	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN38

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Product Warranty (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Mar. 31, 2017
Product Warranties [Abstract]
Standard Product Warranty Description	3
Extended Product Warranty Description	20
Product Warranty Accrual	$ 83,810	$ 107,088

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Share Repurchase (Details)	Jun. 30, 2017shares
Equity, Class of Treasury Stock [Line Items]
Stock Repurchase Program, Remaining Number of Shares Authorized to be Repurchased	2,277,789

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Share Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation	$ (41)	$ 1,956

ACQUISITIONS (Details)

ACQUISITIONS (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Acquisitions
Goodwill	$ 1,147,676	$ 1,142,605

DISCONTINUED OPERATIONS AND ASS

DISCONTINUED OPERATIONS AND ASSETS HELD FOR SALE (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2017USD ($)
Discontinued operations and assets held for sale
Proceeds from Divestiture of Businesses	$ 9,000
TAS - Newport News [Member]
Discontinued operations and assets held for sale
Gain (Loss) on Disposition of Business	4,774
Engines and APU [Member]
Discontinued operations and assets held for sale
Gain (Loss) on Disposition of Business	$ 14,263

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Inventory [Line Items]
Raw materials	$ 95,095	$ 89,069
Work-in-process	1,403,460	1,297,989
Finished goods	127,258	118,265
Rotable Assets	55,603	57,337
Less: unliquidated progress payments	(432,760)	(222,485)
Total inventories	1,248,656	1,340,175
Bombardier [Member]
Inventory [Line Items]
Total inventories	368,121	279,341
Inventory, Work in Process and Raw Materials	140,809	89,650
Preproduction Costs Related to Long-term Supply Arrangements, Costs Capitalized	618,070	589,449
Provision for Loss on Contracts	(390,758)	(399,758)
Total Bombardier & Embraer [Member]
Inventory [Line Items]
Total inventories	556,418	461,697
Inventory, Work in Process and Raw Materials	158,299	104,637
Preproduction Costs Related to Long-term Supply Arrangements, Costs Capitalized	794,677	762,618
Provision for Loss on Contracts	(396,558)	(405,558)
Embraer [Member]
Inventory [Line Items]
Total inventories	188,297	182,356
Inventory, Work in Process and Raw Materials	17,490	14,987
Preproduction Costs Related to Long-term Supply Arrangements, Costs Capitalized	176,607	173,169
Provision for Loss on Contracts	$ (5,800)	$ (5,800)

LONG-TERM DEBT, BY TYPE (Detail

LONG-TERM DEBT, BY TYPE (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Long-term debt
Unamortized Debt Issuance Expense	$ (12,710)		$ (11,752)
Long-term debt	1,281,034		1,196,300
Less current portion	140,869		160,630
Long-term debt, less current portion	1,140,165		1,035,670
Payments of Financing Costs	7,160	$ 10,689
Revolving credit facility
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	850,000		1,000,000
Long-term debt	148,961		29,999
Payments of Financing Costs	6,780
Term loan credit agreement
Long-term debt
Long-term debt	302,344		309,375
Asset-backed Securities [Member]
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	225,000		175,000
Long-term debt	95,900		112,900
Capital Lease Obligations [Member]
Long-term debt
Long-term debt	63,561		72,800
Senior notes due 2021 [Member]
Long-term debt
Long-term debt	$ 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%
Senior Notes Due 2022 [Member]
Long-term debt
Long-term debt	$ 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%
Notes Payable, Other Payables [Member]
Long-term debt
Long-term debt	$ 7,978		$ 7,978

LONG-TERM DEBT (Details 2)

LONG-TERM DEBT (Details 2) $ in Thousands	3 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2015USD ($)
Long-term debt
Payments of Financing Costs	$ 7,160	$ 10,689
Outstanding borrowing amount	1,281,034		$ 1,196,300
Transfer of Financial Assets Accounted for as Sales, Amount Derecognized	0		78,006
Receivables Purchase Agreement [Member]
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	90,000
Term loan credit agreement
Long-term debt
Outstanding borrowing amount	302,344		309,375
Derivative Asset, Fair Value, Gross Liability	475		309
Revolving credit facility
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	850,000		1,000,000
Payments of Financing Costs	$ 6,780
Unamortized financing costs prior to amendment				$ 10,532
Debt Instrument, Description of Variable Rate Basis	LIBOR
Outstanding borrowing amount	$ 148,961		29,999
Letters of Credit Outstanding, Amount	60,978		27,240
Borrowing capacity under revolving credit facility after reductions for borrowings and letters of credit outstanding	587,604
Asset-backed Securities [Member]
Long-term debt
Line of Credit Facility, Maximum Borrowing Capacity	225,000		175,000
Outstanding borrowing amount	$ 95,900		112,900
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	$ 63,561		72,800
Senior notes due 2021 [Member]
Long-term debt
Debt instrument principal amount			375,000
Outstanding borrowing amount	375,000		375,000
Notes Payable, Other Payables [Member]
Long-term debt
Outstanding borrowing amount	$ 7,978		$ 7,978
Interest Rate - High End [Member]
Long-term debt
Ratio of Indebtedness to Net Capital	2.5
Interest Rate - Low End [Member]
Long-term debt
Ratio of Indebtedness to Net Capital	1
Minimum [Member] | Receivables Purchase Agreement [Member]
Long-term debt
Program fee on the amount outstanding (as a percent)	0.65%
Minimum [Member] | Revolving credit facility
Long-term debt
Debt Instrument, Basis Spread on Variable Rate	1.50%
Commitment fees (as a percent)	0.25%
Maximum [Member] | Receivables Purchase Agreement [Member]
Long-term debt
Program fee on the amount outstanding (as a percent)	0.70%
Maximum [Member] | Revolving credit facility
Long-term debt
Debt Instrument, Basis Spread on Variable Rate	3.50%
Commitment fees (as a percent)	0.50%

LONG-TERM DEBT (Details 3)

LONG-TERM DEBT (Details 3) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Estimate of Fair Value Measurement [Member]
Long-term debt
Long-term debt	$ 1,289,639	$ 1,178,968
Reported Value Measurement [Member]
Long-term debt
Long-term debt	$ 1,281,034	$ 1,196,300

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - shares shares in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Weighted-average common shares outstanding-basic (in shares)	49,341	49,271
Net effect of dilutive stock options (in shares)	0	142
Weighted average common shares outstanding - diluted (in shares)	49,341	49,413

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Income Tax Provision [Line Items]
Income Tax Examination, Description	one
Total accrued income tax related interest and penalties	$ 293		$ 282
Total amount of unrecognized tax benefits	10,398		10,266
Amount of unrecognized tax benefits that would impact the effective tax rate, if recognized	$ 10,398		$ 10,266
Effective income tax rate (as a percent)	30.00%	30.00%

GOODWILL (Details)

GOODWILL (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2017USD ($)
Changes in the carrying value of goodwill
Balance at the beginning of the period	$ 1,142,605
Effect of exchange rate changes and other	5,071
Balance at the end of the period	1,147,676
Integrated Systems [Member]
Changes in the carrying value of goodwill
Balance at the beginning of the period	541,155
Effect of exchange rate changes and other	3,610
Balance at the end of the period	544,765
Precision Components [Member]
Changes in the carrying value of goodwill
Balance at the beginning of the period	532,418
Effect of exchange rate changes and other	1,512
Balance at the end of the period	533,930
Product Support [Member]
Changes in the carrying value of goodwill
Balance at the beginning of the period	69,032
Effect of exchange rate changes and other	(51)
Balance at the end of the period	$ 68,981

PENSION AND OTHER POSTRETIREM50

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Pension Plan [Member]
Components of net periodic benefit costs:
Service cost	$ 1,120	$ 1,649
Interest cost	18,788	18,189
Expected return on plan assets	(38,048)	(39,058)
Amortization of prior service costs	(710)	(446)
Defined Benefit Plan, Amortization of Gains (Losses)	3,477	3,031
Net periodic benefit cost	(15,373)	(16,635)
Other postretirement
Components of net periodic benefit costs:
Service cost	102	179
Interest cost	1,219	1,247
Amortization of prior service costs	(2,328)	(3,366)
Defined Benefit Plan, Amortization of Gains (Losses)	(1,775)	(1,647)
Net periodic benefit cost	$ (2,782)	$ (3,587)

STOCKHOLDERS' EQUITY STOCKHOL51

STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017	Mar. 31, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	$ (385,921)	$ (364,097)	$ (396,178)	$ (347,162)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	11,421	(14,797)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	552	(553)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	11,973	(15,350)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	0	0
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(369)	(13)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	(1,716)	(1,585)
Other Comprehensive Income (Loss), Net of Tax	(10,257)	16,935
Accumulated Translation Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), before Tax	(75,791)	(73,613)	(87,212)	(58,816)
Other Comprehensive Income (Loss), Net of Tax	(11,421)	14,797
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	2,336	(3,486)	2,153	(2,920)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	552	(553)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax	(369)	(13)
Other Comprehensive Income (Loss), Net of Tax	(183)	566
Accumulated Defined Benefit Plans Adjustment [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated other comprehensive loss	(312,466)	(286,998)	$ (311,119)	$ (285,426)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax	0	0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	1,347	(1,572)
Other Comprehensive Income (Loss), Net of Tax	$ (1,347)	$ 1,572

STOCKHOLDERS' EQUITY SHARE BASE

STOCKHOLDERS' EQUITY SHARE BASE COMPENSATION (Details) - $ / shares	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2017
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross	179,134
Share-based Compensation Arrangement by Share-based Payment Award, Options, Number of Shares, Period Increase (Decrease)	150,000
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price		$ 30.86
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	4 years

SEGMENTS (Details)

SEGMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	$ 18,360	$ 10,142
Net sales	781,689	893,253
Operating Income (Loss)	18,409	46,726
Interest expense and other	21,018	18,126
Income from continuing operations before income taxes	(2,609)	28,600
Depreciation and amortization	39,131	45,462
Amortization of Acquired Contract Liabilities	29,473	29,349
EBITDA	28,067	62,839
Capital expenditures	12,085	12,723
Total assets	4,276,044		$ 4,414,600
Revenues	178,407	180,419
Corporate Segment [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	10,548	1,860
Integrated Systems [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	1,161	46
Net sales	238,136	257,356
Operating Income (Loss)	47,417	47,986
Depreciation and amortization	9,951	10,303
Amortization of Acquired Contract Liabilities	7,303	10,337
EBITDA	50,065	47,952
Capital expenditures	2,565	3,228
Total assets	1,296,558		1,281,828
Aerospace Structures [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	1,406	3,052
Net sales	275,976	331,596
Operating Income (Loss)	(281)	9,163
Depreciation and amortization	19,391	17,962
Amortization of Acquired Contract Liabilities	21,293	18,438
EBITDA	(2,183)	8,687
Capital expenditures	4,417	3,833
Total assets	1,433,739		1,548,239
Precision Components [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	4,485	5,014
Net sales	236,870	254,561
Operating Income (Loss)	(3,265)	(7,782)
Depreciation and amortization	7,749	14,330
Amortization of Acquired Contract Liabilities	877	574
EBITDA	3,607	5,974
Capital expenditures	4,062	4,902
Total assets	1,256,392		1,262,691
Product Support [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	760	170
Net sales	66,433	84,199
Operating Income (Loss)	8,437	14,059
Depreciation and amortization	1,738	2,484
EBITDA	10,175	16,543
Capital expenditures	261	630
Total assets	266,142		284,231
Elimination of inter-segment sales
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Net sales	(35,726)	(34,459)
Corporate
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Operating Income (Loss)	(33,899)	(16,700)
Depreciation and amortization	302	383
EBITDA	(33,597)	(16,317)
Capital expenditures	780	130
Total assets	23,213		$ 37,611
Restructuring Charges [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	17,500	6,651
Restructuring Charges [Member] | Corporate Segment [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	10,548	1,860
Restructuring Charges [Member] | Integrated Systems [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	615	0
Restructuring Charges [Member] | Aerospace Structures [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	1,406	3,052
Restructuring Charges [Member] | Precision Components [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	4,171	1,714
Restructuring Charges [Member] | Product Support [Member]
Financial information of reportable segment and the reconciliation of EBITDA to operating income
Restructuring and Related Cost, Incurred Cost	$ 760	$ 25

SELECTED CONSOLIDATING FINANC54

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2016	Mar. 31, 2016
Consolidating Financial Statements, Captions
Cash and cash equivalents	$ 36,968	$ 69,633	$ 31,299	$ 20,984
Trade and other receivables, net	343,962	311,792
Inventories	1,248,656	1,340,175
Prepaid and other current assets	34,213	30,064
Assets Held-for-sale, Not Part of Disposal Group		21,255
Total current assets	1,663,799	1,772,919
Property and equipment, net	794,770	805,030
Goodwill and other intangible assets, net	1,726,201	1,734,969
Other, net	91,274	101,682
Intercompany investments and advances	0	0
Total assets	4,276,044	4,414,600
Current liabilities:
Current portion of long-term debt	140,869	160,630
Accounts payable	420,260	481,243
Accrued expenses	600,478	674,379
Disposal Group, Including Discontinued Operation, Liabilities		18,008
Total current liabilities	1,161,607	1,334,260
Long-term debt, less current portion	1,140,165	1,035,670
Intercompany advances	0	0
Accrued pension and other postretirement benefits, noncurrent	572,501	592,134
Deferred income taxes and other	548,881	606,063
Total stockholders’ equity	852,890	846,473
Total liabilities and stockholders' equity	4,276,044	4,414,600
Consolidation, Eliminations [Member]
Consolidating Financial Statements, Captions
Cash and cash equivalents	0	0	0	0
Trade and other receivables, net	0	0
Inventories	0	0
Prepaid and other current assets	0	0
Assets Held-for-sale, Not Part of Disposal Group		0
Total current assets	0	0
Property and equipment, net	0	0
Goodwill and other intangible assets, net	0	0
Other, net	0	0
Intercompany investments and advances	(2,361,756)	(2,216,165)
Total assets	(2,361,756)	(2,216,165)
Current liabilities:
Current portion of long-term debt	0	0
Accounts payable	0	0
Accrued expenses	0	0
Disposal Group, Including Discontinued Operation, Liabilities	0
Total current liabilities	0	0
Long-term debt, less current portion		0
Intercompany advances	(2,439,678)	(2,303,817)
Accrued pension and other postretirement benefits, noncurrent	0	0
Deferred income taxes and other	0	0
Total stockholders’ equity	77,922	87,652
Total liabilities and stockholders' equity	(2,361,756)	(2,216,165)
Parent
Consolidating Financial Statements, Captions
Cash and cash equivalents	654	19,942	617	1,544
Trade and other receivables, net	222	546
Inventories	0	0
Prepaid and other current assets	8,361	7,763
Assets Held-for-sale, Not Part of Disposal Group		0
Total current assets	9,237	28,251
Property and equipment, net	8,794	8,315
Goodwill and other intangible assets, net	0	0
Other, net	20,984	17,902
Intercompany investments and advances	2,206,150	2,057,534
Total assets	2,245,165	2,112,002
Current liabilities:
Current portion of long-term debt	30,592	33,298
Accounts payable	10,082	17,291
Accrued expenses	40,378	53,829
Disposal Group, Including Discontinued Operation, Liabilities	0
Total current liabilities	81,052	104,418
Long-term debt, less current portion	1,083,263	974,693
Intercompany advances	219,690	178,381
Accrued pension and other postretirement benefits, noncurrent	6,784	6,633
Deferred income taxes and other	1,485	1,403
Total stockholders’ equity	852,891	846,474
Total liabilities and stockholders' equity	2,245,165	2,112,002
Guarantors Subsidiaries
Consolidating Financial Statements, Captions
Cash and cash equivalents	82	24,137	806	201
Trade and other receivables, net	91,504	34,874
Inventories	1,141,422	1,243,461
Prepaid and other current assets	13,830	11,678
Assets Held-for-sale, Not Part of Disposal Group		3,250
Total current assets	1,246,838	1,317,400
Property and equipment, net	661,987	673,153
Goodwill and other intangible assets, net	1,546,059	1,560,050
Other, net	52,986	67,955
Intercompany investments and advances	81,541	81,541
Total assets	3,589,411	3,700,099
Current liabilities:
Current portion of long-term debt	14,377	14,432
Accounts payable	371,450	426,646
Accrued expenses	514,863	578,457
Disposal Group, Including Discontinued Operation, Liabilities	0
Total current liabilities	900,690	1,019,535
Long-term debt, less current portion	56,902	60,977
Intercompany advances	1,839,709	1,754,529
Accrued pension and other postretirement benefits, noncurrent	565,717	585,501
Deferred income taxes and other	506,840	564,358
Total stockholders’ equity	(280,447)	(284,801)
Total liabilities and stockholders' equity	3,589,411	3,700,099
Non-Guarantor Subsidiaries
Consolidating Financial Statements, Captions
Cash and cash equivalents	36,232	25,554	$ 29,876	$ 19,239
Trade and other receivables, net	252,236	276,372
Inventories	107,234	96,714
Prepaid and other current assets	12,022	10,623
Assets Held-for-sale, Not Part of Disposal Group		18,005
Total current assets	407,724	427,268
Property and equipment, net	123,989	123,562
Goodwill and other intangible assets, net	180,142	174,919
Other, net	17,304	15,825
Intercompany investments and advances	74,065	77,090
Total assets	803,224	818,664
Current liabilities:
Current portion of long-term debt	95,900	112,900
Accounts payable	38,728	37,306
Accrued expenses	45,237	42,093
Disposal Group, Including Discontinued Operation, Liabilities	18,008
Total current liabilities	179,865	210,307
Long-term debt, less current portion	0	0
Intercompany advances	380,279	370,907
Accrued pension and other postretirement benefits, noncurrent	0	0
Deferred income taxes and other	40,556	40,302
Total stockholders’ equity	202,524	197,148
Total liabilities and stockholders' equity	$ 803,224	$ 818,664

SELECTED CONSOLIDATING FINANC55

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Details 2) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Consolidating Financial Statements, Captions
Net sales	$ 781,689	$ 893,253
Cost of Goods and Services Sold	627,346	726,388
Selling, General and Administrative Expense	79,303	68,026
Depreciation and amortization	39,131	45,462
Restructuring Charges	17,500	6,651
Costs and Expenses	763,280	846,527
Operating Income (Loss)	18,409	46,726
Intercompany Interest and Charges	0	0
Interest expense and other	21,018	18,126
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	(2,609)	28,600
Income Tax Expense (Benefit)	(678)	8,866
Net Income (Loss) Attributable to Parent	(1,931)	19,734
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	10,257	(16,935)
Total comprehensive income	8,326	2,799
Consolidation, Eliminations [Member]
Consolidating Financial Statements, Captions
Net sales	(21,312)	(18,743)
Cost of Goods and Services Sold	(21,312)	(18,743)
Selling, General and Administrative Expense	0	0
Depreciation and amortization	0	0
Restructuring Charges	0	0
Costs and Expenses	(21,312)	(18,743)
Operating Income (Loss)	0	0
Intercompany Interest and Charges	0	0
Interest expense and other	0	0
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	0	0
Income Tax Expense (Benefit)	0	0
Net Income (Loss) Attributable to Parent	0	0
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	0	0
Total comprehensive income	0	0
Parent
Consolidating Financial Statements, Captions
Net sales	0	0
Cost of Goods and Services Sold	0	0
Selling, General and Administrative Expense	22,989	14,444
Depreciation and amortization	302	383
Restructuring Charges	10,547	1,860
Costs and Expenses	33,838	16,687
Operating Income (Loss)	(33,838)	(16,687)
Intercompany Interest and Charges	(43,242)	(51,564)
Interest expense and other	17,042	17,375
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	(7,638)	17,502
Income Tax Expense (Benefit)	(7,074)	2,050
Net Income (Loss) Attributable to Parent	(564)	15,452
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	183	(566)
Total comprehensive income	(381)	14,886
Guarantors Subsidiaries
Consolidating Financial Statements, Captions
Net sales	715,090	817,345
Cost of Goods and Services Sold	575,404	668,539
Selling, General and Administrative Expense	44,853	45,907
Depreciation and amortization	34,773	40,766
Restructuring Charges	6,446	4,791
Costs and Expenses	661,476	760,003
Operating Income (Loss)	53,614	57,342
Intercompany Interest and Charges	41,022	49,173
Interest expense and other	2,781	2,282
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	9,811	5,887
Income Tax Expense (Benefit)	5,763	5,289
Net Income (Loss) Attributable to Parent	4,048	598
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(1,347)	(1,572)
Total comprehensive income	2,701	(974)
Non-Guarantor Subsidiaries
Consolidating Financial Statements, Captions
Net sales	87,911	94,651
Cost of Goods and Services Sold	73,254	76,592
Selling, General and Administrative Expense	11,461	7,675
Depreciation and amortization	4,056	4,313
Restructuring Charges	507	0
Costs and Expenses	89,278	88,580
Operating Income (Loss)	(1,367)	6,071
Intercompany Interest and Charges	2,220	2,391
Interest expense and other	1,195	(1,531)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	(4,782)	5,211
Income Tax Expense (Benefit)	633	1,527
Net Income (Loss) Attributable to Parent	(5,415)	3,684
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	11,421	(14,797)
Total comprehensive income	$ 6,006	$ (11,113)

SELECTED CONSOLIDATING FINANC56

SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Details 3) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017	Mar. 31, 2016
Consolidating Financial Statements, Captions
Net Income (Loss) Attributable to Parent	$ (1,931)	$ 19,734
Adjustments to reconcile net income to net cash provided by (used in) operating activities	(97,117)	(103,769)
Net cash provided by (used in) operating activities	(99,048)	(84,035)
Capital expenditures	(12,085)	(12,723)
Proceeds from sale of assets	1,351	948
Payments to Acquire Businesses, Net of Cash Acquired	0	9
Net cash used in investing activities	(10,734)	(11,766)
Net increase in revolving credit facility	(118,961)	(174,091)
Retirements and repayments of debt	33,268	46,989
Payments of Financing Costs	7,160	10,689
Dividends paid	1,984	1,981
Repayments of government grant	0	(7,285)
Repurchase of restricted shares for minimum tax obligation	(296)	(171)
Intercompany financing and advances	0	0
Net cash (used in) provided by financing activities	76,253	106,976
Effect of exchange rate changes on cash	864	(860)
Net change in cash and cash equivalents	(32,665)	10,315
Cash and cash equivalents	36,968	31,299	$ 69,633	$ 20,984
Consolidation, Eliminations [Member]
Consolidating Financial Statements, Captions
Net Income (Loss) Attributable to Parent	0	0
Adjustments to reconcile net income to net cash provided by (used in) operating activities	655	627
Net cash provided by (used in) operating activities	655	627
Capital expenditures	0	0
Proceeds from sale of assets	0	0
Payments to Acquire Businesses, Net of Cash Acquired		0
Net cash used in investing activities	0	0
Net increase in revolving credit facility	0	0
Retirements and repayments of debt	0	0
Payments of Financing Costs	0	0
Dividends paid	0	0
Repayments of government grant		0
Repurchase of restricted shares for minimum tax obligation	0	0
Intercompany financing and advances	(655)	(627)
Net cash (used in) provided by financing activities	(655)	(627)
Effect of exchange rate changes on cash	0	0
Net change in cash and cash equivalents	0	0
Cash and cash equivalents	0	0	0	0
Parent
Consolidating Financial Statements, Captions
Net Income (Loss) Attributable to Parent	(564)	15,452
Adjustments to reconcile net income to net cash provided by (used in) operating activities	(24,495)	(2,131)
Net cash provided by (used in) operating activities	(25,059)	13,321
Capital expenditures	(780)	(130)
Proceeds from sale of assets	0	0
Payments to Acquire Businesses, Net of Cash Acquired		0
Net cash used in investing activities	(780)	(130)
Net increase in revolving credit facility	(118,961)	(174,091)
Retirements and repayments of debt	12,139	7,102
Payments of Financing Costs	7,160	10,689
Dividends paid	1,984	1,981
Repayments of government grant		0
Repurchase of restricted shares for minimum tax obligation	(296)	(171)
Intercompany financing and advances	(90,831)	(168,266)
Net cash (used in) provided by financing activities	6,551	(14,118)
Effect of exchange rate changes on cash	0	0
Net change in cash and cash equivalents	(19,288)	(927)
Cash and cash equivalents	654	617	19,942	1,544
Guarantors Subsidiaries
Consolidating Financial Statements, Captions
Net Income (Loss) Attributable to Parent	4,048	598
Adjustments to reconcile net income to net cash provided by (used in) operating activities	(101,363)	(121,953)
Net cash provided by (used in) operating activities	(97,315)	(121,355)
Capital expenditures	(10,375)	(8,961)
Proceeds from sale of assets	1,183	108
Payments to Acquire Businesses, Net of Cash Acquired		9
Net cash used in investing activities	(9,192)	(8,844)
Net increase in revolving credit facility	0	0
Retirements and repayments of debt	4,129	3,687
Payments of Financing Costs	0	0
Dividends paid	0	0
Repayments of government grant		(7,285)
Repurchase of restricted shares for minimum tax obligation	0	0
Intercompany financing and advances	86,581	141,776
Net cash (used in) provided by financing activities	82,452	130,804
Effect of exchange rate changes on cash	0	0
Net change in cash and cash equivalents	(24,055)	605
Cash and cash equivalents	82	806	24,137	201
Non-Guarantor Subsidiaries
Consolidating Financial Statements, Captions
Net Income (Loss) Attributable to Parent	(5,415)	3,684
Adjustments to reconcile net income to net cash provided by (used in) operating activities	28,086	19,688
Net cash provided by (used in) operating activities	22,671	23,372
Capital expenditures	(930)	(3,632)
Proceeds from sale of assets	168	840
Payments to Acquire Businesses, Net of Cash Acquired		0
Net cash used in investing activities	(762)	(2,792)
Net increase in revolving credit facility	0	0
Retirements and repayments of debt	17,000	36,200
Payments of Financing Costs	0	0
Dividends paid	0	0
Repayments of government grant		0
Repurchase of restricted shares for minimum tax obligation	0	0
Intercompany financing and advances	4,905	27,117
Net cash (used in) provided by financing activities	(12,095)	(9,083)
Effect of exchange rate changes on cash	864	(860)
Net change in cash and cash equivalents	10,678	10,637
Cash and cash equivalents	$ 36,232	$ 29,876	$ 25,554	$ 19,239

RESTRUCTURING COSTS RESTRUCTU57

RESTRUCTURING COSTS RESTRUCTURING COSTS (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	$ 18,360	$ 10,142
Restructuring and Related Cost, Expected Cost	209,000
2017 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Activities, Reduction of Square Footage		1,000,000
Restructuring and Related Activities, Reduction to Workforce		100
2016 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Activities, Reduction of Square Footage			4,000,000
Restructuring and Related Activities, Reduction to Workforce			1,200
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	256	$ 52
Restructuring and Related Cost, Expected Cost	21,000
Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	3,304	247
Restructuring and Related Cost, Expected Cost	44,000
Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	18,000
Accelerated Depreciation [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	37,000
Accelerated Depreciation [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	860	3,491
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	13,940	6,352
Restructuring and Related Cost, Expected Cost	89,000
Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	17,500	6,651
Integrated Systems [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,161	46
Integrated Systems [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0
Integrated Systems [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0
Integrated Systems [Member] | Accelerated Depreciation [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	546	46
Integrated Systems [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	615	0
Integrated Systems [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	615	0
Aerospace Structures [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,406	3,052
Aerospace Structures [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0
Aerospace Structures [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,406	0
Aerospace Structures [Member] | Accelerated Depreciation [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0
Aerospace Structures [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	3,052
Aerospace Structures [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,406	3,052
Precision Components [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	4,485	5,014
Precision Components [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	256	27
Precision Components [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1,898	247
Precision Components [Member] | Accelerated Depreciation [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	314	3,300
Precision Components [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	2,017	1,440
Precision Components [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	4,171	1,714
Product Support [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	760	170
Product Support [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	25
Product Support [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0
Product Support [Member] | Accelerated Depreciation [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	145
Product Support [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	760	0
Product Support [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	760	25
Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	10,548	1,860
Corporate Segment [Member] | Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0
Corporate Segment [Member] | Facility Closing [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0	0
Corporate Segment [Member] | Accelerated Depreciation [Member] | Cost of Sales [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	0
Corporate Segment [Member] | Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost		1,860
Corporate Segment [Member] | Restructuring Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	10,548	1,860
Minimum [Member] | 2017 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		55,000
Minimum [Member] | 2016 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	140,000
Maximum [Member] | 2017 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost		$ 60,000
Maximum [Member] | 2016 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 150,000