FAIR VALUE MEASUREMENTS - Note 2

9 Months Ended

Dec. 31, 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 December 31, 2017		Costs		Gain		Loss		Fair Value		Equivalents		Investments
Cash	$	15,602	$	-	$	-	$	15,602	$	15,602	$	-
Level 1:
Money market funds		16,167		-		-		16,167		16,167		-
Subtotal		31,769		-		-		31,769		31,769		-
Level 2:
Commercial paper		18,277		-		(5)		18,272		-		18,272
Corporate debt		78,987		11		(70)		78,928		-		78,928
International government securities		2,496		-		(4)		2,492		-		2,492
Asset backed securities		25,407		-		(32)		25,375		-		25,375
Agency bond		4,141		-		-		4,141				4,141
Subtotal		129,308		11		(111)		129,208		-		129,208
Total assets	$	161,077	$	11	$	(111)	$	160,977	$	31,769	$	129,208

				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 December 31, 2017 are set forth below (in thousands):

		Estimated
		Fair Value
Due within one year	$	87,647
Due after one year		41,561
Total	$	129,208

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 December 31, 2017.