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FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Jun. 30, 2016
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities
The following tables present the Company’s financial assets and liabilities measured on a recurring basis using the fair value hierarchy at June 30, 2016 and March 31, 2016 (in thousands):

Fair Value Measurements at
 
June 30, 2016
 
Level 1

Level 2

Level 3

Total
ASSETS:

 

 



Cash and cash equivalents
$
210,870

 
$

 
$

 
$
210,870

U.S. government and municipal obligations
25,611

 
71,727

 


97,338

Commercial paper

 
26,714

 


26,714

Derivative financial instruments

 
116

 


116

Contingently returnable consideration

 

 
8,341

 
$
8,341


$
236,481

 
$
98,557

 
$
8,341


$
343,379

LIABILITIES:

 

 



Contingent purchase consideration
$

 
$

 
$
(4,674
)

$
(4,674
)
Derivative financial instruments

 
(93
)
 


(93
)

$

 
$
(93
)
 
$
(4,674
)

$
(4,767
)

Fair Value Measurements at
 
March 31, 2016
 
Level 1

Level 2

Level 3

Total
ASSETS:

 

 



Cash and cash equivalents
$
210,711

 
$

 
$


$
210,711

U.S. government and municipal obligations
41,116

 
82,212

 


123,328

Commercial paper

 
16,172

 


16,172

Corporate bonds
1,864

 

 


1,864

Derivative financial instruments

 
191

 

 
191

Contingently returnable consideration
 
 
 
 
16,131

 
16,131


$
253,691


$
98,575


$
16,131


$
368,397

LIABILITIES:

 

 



Contingent purchase consideration
$

 
$

 
$
(7,293
)

$
(7,293
)
Derivative financial instruments

 
(158
)
 


(158
)

$


$
(158
)

$
(7,293
)

$
(7,451
)
Schedule of Reconciliation of Changes in Fair Value of Level III Financial Assets
The following table sets forth a reconciliation of changes in the fair value of the Company’s Level 3 financial assets and liabilities for the three months ended June 30, 2016 (in thousands):

Contingent
Purchase
Consideration
 
Contingently Returnable Consideration
Balance at beginning of period
$
(7,293
)
 
$
16,131

Increase in fair value and accretion expense (included within research and development expense)
(38
)
 

Payment received

 
(7,790
)
Payments made
2,657

 

Balance at end of period
$
(4,674
)
 
$
8,341