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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summary of Notional Amounts and Fair Values of Derivative Instruments on Consolidated Balance Sheet
The notional amounts and fair values of derivative instruments in the consolidated balance sheets at September 30, 2017 and March 31, 2017 were as follows (in thousands):
 
Notional Amounts (a)

Prepaid Expenses and Other Current Assets

Accrued Other
 
September 30,
2017

March 31,
2017
 
September 30,
2017
 
March 31,
2017
 
September 30,
2017
 
March 31,
2017
Derivatives Designated as Hedging Instruments:











Forward contracts
$
10,504

 
$
14,752

 
$
496

 
$
110

 
$
18

 
$
213

 
(a)
Notional amounts represent the gross contract/notional amount of the derivatives outstanding.
Summary of Effect of Foreign Exchange Forward Contracts on OCI and Results of Operations
The following table provides the effect foreign exchange forward contracts had on other comprehensive income (loss) (OCI) and results of operations for the three months ended September 30, 2017 and 2016 (in thousands):
Derivatives in Cash
Flow Hedging
Relationships
Effective Portion

   Ineffective Portion                    
Gain (Loss) Recognized in
OCI on Derivative
(a)

Loss Reclassified from
Accumulated OCI into Income
(b)

Gain (Loss) Recognized in Income (Amount
Excluded from Effectiveness Testing)
(c)
September 30, 2017
 
September 30, 2016

Location

September 30, 2017

September 30, 2016

Location

September 30, 2017
 
September 30, 2016
Forward contracts
$
415

 
$
(88
)

Research and
development

$
(54
)
 
$
(6
)

Research and
development

$
34

 
$
18






Sales and
marketing

(325
)
 
(5
)

Sales and
marketing

(46
)
 
(57
)

$
415


$
(88
)



$
(379
)

$
(11
)



$
(12
)

$
(39
)
(a)
The amount represents the change in fair value of derivative contracts due to changes in spot rates.
(b)
The amount represents reclassification from other comprehensive income to earnings that occurs when the hedged item affects earnings.
(c)
The amount represents the change in fair value of derivative contracts due to changes in the difference between the spot price and forward price that is excluded from the assessment of hedge effectiveness and therefore recognized in earnings. No gains or losses were reclassified as a result of discontinuance of cash flow hedges.
The following table provides the effect foreign exchange forward contracts had on other comprehensive income (loss) (OCI) and results of operations for the six months ended September 30, 2017 and 2016 (in thousands):
Derivatives in Cash
Flow Hedging
Relationships
Effective Portion
 
   Ineffective Portion                    
Gain (Loss) Recognized in
OCI on Derivative
(a)
 
Gain (Loss) Reclassified from
Accumulated OCI into Income
(b)
 
Gain (Loss) Recognized in Income (Amount
Excluded from Effectiveness Testing)
(c)
September 30, 2017
 
September 30, 2016
 
Location
 
September 30, 2017
 
September 30, 2016
 
Location
 
September 30, 2017
 
September 30, 2016
Forward contracts
$
909

 
$
(137
)
 
Research and
development
 
$
(82
)
 
$
(18
)
 
Research and
development
 
$
37

 
$
31

 
 
 
 
 
Sales and
marketing
 
(285
)
 
29

 
Sales and
marketing
 
(74
)
 
(92
)
 
$
909

 
$
(137
)
 
 
 
$
(367
)
 
$
11

 
 
 
$
(37
)
 
$
(61
)
(a)
The amount represents the change in fair value of derivative contracts due to changes in spot rates.
(b)
The amount represents reclassification from other comprehensive income to earnings that occurs when the hedged item affects earnings.
(c)
The amount represents the change in fair value of derivative contracts due to changes in the difference between the spot price and forward price that is excluded from the assessment of hedge effectiveness and therefore recognized in earnings. No gains or losses were reclassified as a result of discontinuance of cash flow hedges.