FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Mar. 31, 2018

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 March 31, 2018 and 2017 (in thousands):



	Fair Value Measurements at
	March 31, 2018
	Level 1		Level 2			Level 3			Total
ASSETS:
Cash and cash equivalents	$	369,821	$	—		$	—		$	369,821
U.S. government and municipal obligations	14,513		27,673			—			42,186
Commercial paper	—		33,003			—			33,003
Corporate bonds	2,752		—			—			2,752
Derivative financial instruments	—		122			—			122
	$	387,086	$	60,798		$	—		$	447,884
LIABILITIES:
Contingent purchase consideration	$	—	$	—		$	(5,464	)	$	(5,464	)
Derivative financial instruments	—		(40		)	—			(40		)
	$	—	$	(40	)	$	(5,464	)	$	(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 Three Financial Liabilities

The following table sets forth a reconciliation of changes in the fair value of the Company’s Level 3 financial liabilities for the year ended March 31, 2018 (in thousands):



	Contingent Purchase Consideration
Balance at March 31, 2017	$	(5,449	)
Additions to Level 3	(523		)
Increase in fair value and accretion expense (included within research and development expense)	(152		)
Payments made	660
Balance at March 31, 2018	$	(5,464	)

The following table sets forth a reconciliation of changes in the fair value of the Company’s Level 3 financial liabilities for the year ended March 31, 2017 (in thousands):



	Contingent Purchase Consideration			Contingently Returnable Consideration
Balance at March 31, 2016	$	(7,293	)	$	16,131
Additions to Level 3	(660		)	—
Increase in fair value and accretion expense (included within research and development expense)	(153		)	—
Decrease in fair value	—			(610		)
Gross presentation of contingently returnable consideration to contingent purchase consideration	(3,910		)	3,910
Payments received	—			(19,431		)
Payments made	6,567			—
Balance at March 31, 2017	$	(5,449	)	$	—