FAIR VALUE MEASUREMENTS - Note 2

6 Months Ended

Sep. 30, 2017

Cash and Cash Equivalents [Abstract]

FAIR VALUE MEASUREMENTS - Note 2

2. FAIR VALUE MEASUREMENTS

Cash, cash equivalents, and available-for-sale investments, and contingent consideration were (in thousands):

				Gross		Gross				Cash and
		Amortized		Unrealized		Unrealized		Estimated		Cash		Short-Term
As of September 30, 2017		Costs		Gain		Loss		Fair Value		Equivalents		Investments
Cash	$	20,122	$	-	$	-	$	20,122	$	20,122	$	-
Level 1:
Money market funds		14,448		-		-		14,448		14,448		-
Mutual funds		1,828		-		-		1,828		-		1,828
Subtotal		36,398		-		-		36,398		34,570		1,828
Level 2:
Commercial paper		13,554		2		-		13,556		-		13,556
Corporate debt		88,578		62		(21)		88,619		-		88,619
International government securities		2,494		-		(1)		2,493		-		2,493
Asset backed securities		25,988		4		(8)		25,984		-		25,984
Subtotal		130,614		68		(30)		130,652		-		130,652
Total assets	$	167,012	$	68	$	(30)	$	167,050	$	34,570	$	132,480

				Gross		Gross				Cash and
		Amortized		Unrealized		Unrealized		Estimated		Cash		Short-Term
As of March 31, 2017		Costs		Gain		Loss		Fair Value		Equivalents		Investments
Cash	$	29,122	$	-	$	-	$	29,122	$	29,122	$	-
Level 1:
Money market funds		11,908		-		-		11,908		11,908		-
Mutual funds		2,000		-		(194)		1,806		-		1,806
Subtotal		43,030		-		(194)		42,836		41,030		1,806
Level 2:
Commercial paper		19,144		8		-		19,152		-		19,152
Corporate debt		83,995		61		(58)		83,998		-		83,998
Asset backed securities		26,906		4		(22)		26,888		-		26,888
Mortgage backed securities		116		-		(1)		115		-		115
Agency bond		2,000		-		-		2,000		-		2,000
Subtotal		132,161		73		(81)		132,153		-		132,153
Total assets	$	175,191	$	73	$	(275)	$	174,989	$	41,030	$	133,959
Level 3:
Contingent consideration	$	-	$	-	$	-	$	148	$	-	$	-
Total liabilities	$	-	$	-	$	-	$	148	$	-	$	-

Contractual maturities of investments as of September 30, 2017 are set forth below (in thousands):

		Estimated
		Fair Value
Due within one year	$	80,612
Due after one year		51,868
Total	$	132,480

Contingent Consideration and Escrow Liability

The Company's contingent consideration liability, included in other accrued liabilities and noncurrent liabilities on the condensed consolidated balance sheets as of March 31, 2017, was associated with the Quality Software Corporation (QSC) acquisition made in the first quarter of fiscal year 2016. This contingent liability was classified as level 3 within the fair value hierarchy. The remaining liability of $0.1 million was settled and paid as of September 30, 2017.