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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)
 6 Months Ended
Sep. 30, 2018
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, 2018 and March 31, 2018 were as follows (in thousands):
 
Notional Amounts (a)

Prepaid Expenses and Other Current Assets

Accrued Other
 
September 30,
2018

March 31,
2018
 
September 30,
2018
 
March 31,
2018
 
September 30,
2018
 
March 31,
2018
Derivatives Designated as Hedging Instruments:











Forward contracts
$
10,001

 
$
11,225

 
$
16

 
$
122

 
$
220

 
$
40

 
(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, 2018 and 2017 (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, 2018
 
September 30, 2017

Location

September 30, 2018

September 30, 2017

Location

September 30, 2018
 
September 30, 2017
Forward contracts
$
(59
)
 
$
415


Research and
development

$
57

 
$
(54
)

Research and
development

$
16

 
$
34






Sales and
marketing

145

 
(325
)

Sales and
marketing

(53
)
 
(46
)

$
(59
)

$
415




$
202


$
(379
)



$
(37
)

$
(12
)
(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, 2018 and 2017 (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, 2018
 
September 30, 2017
 
Location
 
September 30, 2018
 
September 30, 2017
 
Location
 
September 30, 2018
 
September 30, 2017
Forward contracts
$
(578
)
 
$
909

 
Research and
development
 
$
87

 
$
(82
)
 
Research and
development
 
$
33

 
$
37

 
 
 
 
 
Sales and
marketing
 
209

 
(285
)
 
Sales and
marketing
 
(112
)
 
(74
)
 
$
(578
)
 
$
909

 
 
 
$
296

 
$
(367
)
 
 
 
$
(79
)
 
$
(37
)

(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.