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BASIS OF PRESENTATION, CONSOLIDATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Jun. 30, 2017
Basis Of Presentation, Consolidation And Summary Of Significant Accounting Policies [Abstract]  
Schedule of foreign exchange rates
The value of these currencies has fluctuated relative to the U.S. dollar as indicated in the following table:
 
 
Three Months Ended 
 June 30,
 
 
2017
 
2016
One British pound sterling into U.S. dollars
 
 
 
 
High
 
1.30

 
1.48

Average
 
1.28

 
1.43

Low
 
1.24

 
1.31

At period-end
 
1.30

 
1.34

One euro into U.S. dollars
 
 
 
 
High
 
1.14

 
1.15

Average
 
1.10

 
1.13

Low
 
1.06

 
1.10

At period-end
 
1.14

 
1.11

One Australian dollar into U.S. dollars
 
 
 
 
High
 
0.77

 
0.78

Average
 
0.75

 
0.75

Low
 
0.74

 
0.72

At period-end
 
0.77

 
0.74

One Norwegian kroner into U.S. dollars
 
 
 
 
High
 
0.1199

 
0.1245

Average
 
0.1174

 
0.1212

Low
 
0.1152

 
0.1163

At period-end
 
0.1194

 
0.1195

One Nigerian naira into U.S. dollars
 
 
 
 
High
 
0.0033

 
0.0050

Average
 
0.0032

 
0.0048

Low
 
0.0032

 
0.0035

At period-end
 
0.0032

 
0.0035


_____________ 
Source: FactSet
The value of the Brazilian real has fluctuated relative to the U.S. dollar as indicated in the following table:
 
 
Three Months Ended 
 June 30,
 
 
2017
 
2016
One Brazilian real into U.S. dollars
 
 
 
 
High
 
0.3233

 
0.3121

Average
 
0.3113

 
0.2849

Low
 
0.2995

 
0.2702

At period-end
 
0.3018

 
0.3121

_____________ 
Source: FactSet
Schedule of foreign exchange impact
We estimate that the fluctuation of currencies versus the same period in the prior fiscal year had the following effect on our financial condition and results of operations (in thousands):
 
 
Three Months Ended 
 June 30, 2017
Revenue
 
$
(18,804
)
Operating expense
 
13,710

Earnings from unconsolidated affiliates, net of losses
 
(1,090
)
Non-operating expense
 
4,579

Income before provision for income taxes
 
(1,605
)
Provision for income taxes
 
1,202

Net income
 
(403
)
Cumulative translation adjustment
 
10,070

Total stockholders’ investment
 
$
9,667
Schedule of interest income and interest expense
During the three months ended June 30, 2017 and 2016, interest expense, net consisted of the following (in thousands):
 
Three Months Ended 
 June 30,
 
2017
 
2016
Interest income
$
214

 
$
234

Interest expense
(16,235
)
 
(11,120
)
Interest expense, net
$
(16,021
)
 
$
(10,886
)
Schedule of goodwill
Goodwill of $19.9 million and $19.8 million as of June 30 and March 31, 2017, respectively, related to our reporting units were as follows (in thousands):
 
 
Asia Pacific
 
Total
March 31, 2017
 
$
19,798

 
$
19,798

Foreign currency translation
 
109

 
109

June 30, 2017
 
$
19,907

 
$
19,907

Accumulated goodwill impairment of $50.9 million as of both June 30 and March 31, 2017 related to our reporting units were as follows (in thousands):
 
Europe Caspian
 
Africa
 
Americas
 
Corporate and other
 
Total
March 31, 2017
$
(33,883
)
 
$
(6,179
)
 
$
(576
)
 
$
(10,223
)
 
$
(50,861
)
Impairments
—

 
—

 
—

 
—

 
—

June 30, 2017
$
(33,883
)
 
$
(6,179
)
 
$
(576
)
 
$
(10,223
)
 
$
(50,861
)
Schedule of other intangible assets
Intangible assets by type were as follows (in thousands):
 
Client
contracts
 
Client
relationships
 
Trade name and trademarks
 
Internally developed software
 
Licenses
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
Gross Carrying Amount
March 31, 2017
$
8,169

 
$
12,752

 
$
4,483

 
$
1,062

 
$
746

 
$
27,212

Foreign currency translation
—

 
13

 
127

 
15

 
2

 
157

June 30, 2017
$
8,169

 
$
12,765

 
$
4,610

 
$
1,077

 
$
748

 
$
27,369

 
 
 
 
 
 
 
 
 
 
 
 
 
Accumulated Amortization
March 31, 2017
$
(8,155
)
 
$
(11,071
)
 
$
(908
)
 
$
(685
)
 
$
(657
)
 
$
(21,476
)
Amortization expense
(6
)
 
(71
)
 
(71
)
 
(53
)
 
(14
)
 
(215
)
June 30, 2017
$
(8,161
)
 
$
(11,142
)
 
$
(979
)
 
$
(738
)
 
$
(671
)
 
$
(21,691
)
 
 
 
 
 
 
 
 
 
 
 
 
Weighted average remaining contractual life, in years
0.1

 
3.6

 
13.1

 
1.8

 
1.6

 
5.2
Schedule of other intangible assets, future amortization expense
Future amortization expense of intangible assets for each of the years ending March 31 is as follows (in thousands):
                 
2018
$
688

2019
623

2020
383

2021
383

2022
383

Thereafter
3,218

 
$
5,678
Schedule of capital expenditures
During the three months ended June 30, 2017 and 2016, we made capital expenditures as follows:
 
Three Months Ended 
 June 30,
 
2017

2016
Number of aircraft delivered:
 
 
 
Medium
3

 
—

Total aircraft
3

 
—

Capital expenditures (in thousands):
 
 
 
Aircraft and equipment (1)
$
10,810

 
$
17,487

Land and buildings
1,743

 
3,576

Total capital expenditures
$
12,553

 
$
21,063

_____________ 
(1)
During the three months ended June 30, 2017 and 2016, we spent $1.3 million and $3.1 million, respectively, on progress payments for aircraft to be delivered in future periods.
Schedule of aircraft sales and impairments
The following table presents details on the aircraft sold or disposed of and impairments on assets held for sale during the three months ended June 30, 2017 and 2016:
 
Three Months Ended 
 June 30,
 
2017
 
2016
 
 
 
 
 
(In thousands, except for number of aircraft)
 
 
 
 
Number of aircraft sold or disposed of
6

 
6

Proceeds from sale or disposal of assets
$
41,975

 
$
11,500

Gain from sale or disposal of assets (1)
$
2,263

 
$
132

 
 
 
 
Number of aircraft impaired
2

 
11

Impairment charges on aircraft held for sale (1)
$
1,564

 
$
10,149


_____________ 
(1) 
Included in gain (loss) on disposal of assets on our condensed consolidated statements of operations.