FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Mar. 31, 2020

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 March 31, 2020 and 2019 (in thousands):

	Fair Value Measurements at
	March 31, 2020
	Level 1		Level 2		Level 3		Total
ASSETS:
Cash and cash equivalents	$	338,489	$	—	$	—	$	338,489
U.S. government and municipal obligations	31,341		—		—		31,341
Commercial paper	—		14,644		—		14,644
Corporate bonds	4,597		—		—		4,597
	$	374,427	$	14,644	$	—	$	389,071
LIABILITIES:
Contingent purchase consideration	$	—	$	—	$	(1,748)	$	(1,748)
Derivative financial instruments	—		(49)		—		(49)
	$	—	$	(49)	$	(1,748)	$	(1,797)

 

	Fair Value Measurements at
	March 31, 2019
	Level 1		Level 2		Level 3		Total
ASSETS:
Cash and cash equivalents	$	409,632	$	—	$	—	$	409,632
U.S. government and municipal obligations	10,732		16,890		—		27,622
Commercial paper	—		48,722		—		48,722
Corporate bonds	1,012		—		—		1,012
Derivative financial instruments	—		58		—		58
Contingent consideration	—		—		762		762
	$	421,376	$	65,670	$	762	$	487,808
LIABILITIES:
Derivative financial instruments	$	—	$	(68)	$	—	$	(68)
	$	—	$	(68)	$	—	$	(68)

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, 2020 (in thousands):

	Contingent Purchase Consideration		Contingent Consideration
Balance at March 31, 2019	$	—	$	762
Additions to Level 3	(1,800)		—
Change in fair value of contingent consideration	—		(762)
Payments received	52		—
Balance at March 31, 2020	$	(1,748)	$	—

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, 2019 (in thousands):

	Contingent Purchase Consideration		Contingent Consideration
Balance at March 31, 2018	$	(5,464)	$	—
Contingent consideration pursuant to divestiture of the HNT tools business	—		2,257
Change in fair value of contingent consideration	(102)		(1,495)
Payments made	5,566		—
Balance at March 31, 2019	$	—	$	762