INVENTORIES

12 Months Ended

Mar. 31, 2025

Inventories consisted of the following (in thousands):


	Year Ended March 31,
	2025		2024
Inventories:
Raw materials	6,928		6,174
Work in process	2,342		5,244
Finished goods	5,358		4,387
Aircraft parts	28,794		49,522
Total inventories	43,422		65,327
Reserves	(4,906)		(4,607)
Total inventories, net of reserves	$	38,516	$	60,720

A write-down of $1.5 million was recorded on the inventory of the commercial aircraft, engines and parts segment during the fiscal year ended March 31, 2025. The write-down was attributable to our evaluation of the carrying value of inventory as of March 31, 2025, where we compared its cost to its net realizable value and considered factors such as physical condition, sales patterns and expected future demand to estimate the amount necessary to write down any slow moving, obsolete or damaged inventory.