Fair Value Measurements

6 Months Ended

Sep. 30, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of September 30, 2016 and March 31, 2016 based on the three-tier fair value hierarchy (in thousands):

	Fair Value Measurements as of September 30, 2016
	Level 1		Level 2		Level 3		Total
Description:
Money market funds	$	36,179	$	—	$	—	$	36,179
Certificates of deposit	—		11,208		—		11,208
Commercial paper	—		34,274		—		$	34,274
Corporate notes and bonds	—		5,104		—		5,104
U.S. treasury securities	2,300		—		—		$	2,300
U.S. government agencies	—		73,039		—		73,039
Restricted cash - money market funds	8,115		—		—		$	8,115
Total	$	46,594	$	123,625	$	—	$	170,219
Included in cash and cash equivalents							$	58,725
Included in short-term investments							$	103,379
Included in restricted cash							$	8,115
	Fair Value Measurements as of March 31, 2016
	Level 1		Level 2		Level 3		Total
Description:
Money market funds	$	36,118	$	—	$	—	$	36,118
Corporate notes and bonds	—		15,933		—		15,933
U.S. treasury securities	2,297		—		—		2,297
U.S. government agencies	—		107,184		—		107,184
Restricted cash - money market funds	8,115		—		—		8,115
Total	$	46,530	$	123,117	$	—	$	169,647
Included in cash and cash equivalents							$	36,118
Included in short-term investments							$	125,414
Included in restricted cash							$	8,115

There were no transfers between fair value measurement levels during the six months ended September 30, 2016 and 2015.

Gross unrealized gains or losses for cash equivalents and short-term investments as of September 30, 2016 and March 31, 2016 were not material. As of September 30, 2016 and March 31, 2016, there were no securities that were in an unrealized loss position for more than 12 months.

The following table classifies the Company’s available-for-sale short-term investments by contractual maturities as of September 30, 2016 and March 31, 2016 (in thousands):

	September 30, 2016		March 31, 2016
Due within one year	$	94,883	$	103,822
Due within one to two years	8,496		21,592
Total	$	103,379	$	125,414

For certain other financial instruments, including accounts receivable, accounts payable and other current liabilities, the carrying amounts approximate their fair value due to the relatively short maturity of these balances.