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Customer Concentration
12 Months Ended
Mar. 31, 2024
Customer Concentration [Abstract]  
Customer Concentration

18. CUSTOMER CONCENTRATION

Trade and other receivables from The Boeing Company ("Boeing") represented approximately 14% and 13% of total trade and other receivables as of March 31, 2024 and 2023, respectively. Trade and other receivables from Daher Aerospace Inc. ("Daher") include receivables that largely correspond with payables associated with transition services and represented approximately 20% as of March 31, 2023. The Company had no other significant concentrations of credit risk.

Sales to Boeing for fiscal 2024 were $279,956, or 23% of net sales, of which $168,038 and $111,918 were from Systems & Support and Interiors, respectively. Sales to Boeing for fiscal 2023 were $259,343, or 23% of net sales, of which $154,404 and $104,939 were from Systems & Support and Interiors, respectively. Sales to Boeing for fiscal 2022 were $464,043, or 37% of net sales, of which $130,123 and $333,920 were from Systems & Support and Interiors, respectively.

No other single customer accounted for more than 10% of the Company's net sales; however, the loss of any significant customer, including Boeing, could have a material adverse effect on the Company and its operating subsidiaries.

The Company currently generates a majority of its revenue from clients in the commercial aerospace industry and the military. The Company's growth and financial results are largely dependent on continued demand for its products and services from clients in these industries. When these industries experience a downturn, it is possible that customers in these sectors may conduct less business with the Company.