FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jun. 30, 2017

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, 2017 and March 31, 2017 (in thousands):



	Fair Value Measurements at
	June 30, 2017
	Level 1		Level 2			Level 3			Total
ASSETS:
Cash and cash equivalents	$	261,736	$	—		$	—		$	261,736
U.S. government and municipal obligations	35,697		76,287			—			111,984
Commercial paper	—		32,672			—			32,672
Corporate bonds	3,258		—			—			3,258
Derivative financial instruments	—		420			—			420
	$	300,691	$	109,379		$	—		$	410,070
LIABILITIES:
Contingent purchase consideration	$	—	$	—		$	(5,487	)	$	(5,487	)
Derivative financial instruments	—		(17		)	—			(17		)
	$	—	$	(17	)	$	(5,487	)	$	(5,504	)



	Fair Value Measurements at
	March 31, 2017
	Level 1		Level 2			Level 3			Total
ASSETS:
Cash and cash equivalents	$	304,880	$	—		$	—		$	304,880
U.S. government and municipal obligations	40,628		80,273			—			120,901
Commercial paper	—		29,469			—			29,469
Corporate bonds	7,956		—			—			7,956
Certificate of deposits	—		1,499			—			1,499
Derivative financial instruments	—		110			—			110
	$	353,464	$	111,351		$	—		$	464,815
LIABILITIES:
Contingent purchase consideration	$	—	$	—		$	(5,449	)	$	(5,449	)
Derivative financial instruments	—		(213		)	—			(213		)
	$	—	$	(213	)	$	(5,449	)	$	(5,662	)

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, 2017 (in thousands):



	Contingent Purchase Consideration
Balance at March 31, 2017	$	(5,449	)
Increase in fair value and accretion expense (included within research and development expense)	(38		)
Balance at June 30, 2017	$	(5,487	)