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Fair value of financial instruments (Tables)
12 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Summary of Fair Value of Financial Liabilities
The following table sets forth the fair value of the Company’s financial liabilities by level within the fair value hierarchy as of March 31, 2020 (in thousands):
 
 
 
Fair value measurements using
 
Fair value
 
Level 1
 
Level 2
 
Level 3
Financial liabilities:
 
 
 
 
 
 
 
Long-term debt, including current portion (1)
$
138,865

 
$

 
$
138,865

 
$

Total financial liabilities
$
138,865

 
$

 
$
138,865

 
$

__________________________
(1) Of this amount, $12,568 is classified as current. The gross carrying amounts of the Company’s bank debt, before reduction of the debt issuance costs, approximate their fair values as the stated rates approximate market rates for loans with similar terms.
The following table sets forth the fair value of the Company’s financial liabilities by level within the fair value hierarchy as of March 31, 2019 (in thousands):
 
 
 
Fair value measurements using
 
Fair value
 
Level 1
 
Level 2
 
Level 3
Financial liabilities:
 
 
 
 
 
 
 
Long-term debt, including current portion (1)
$
148,593

 
$

 
$
148,593

 
$

Total financial liabilities
$
148,593

 
$

 
$
148,593

 
$

__________________________
(1) Of this amount, $10,259 is classified as current. The gross carrying amounts of the Company’s bank debt, before reduction of the debt issuance costs, approximate their fair values as the stated rates approximate market rates for loans with similar terms.
The following table sets forth the fair value of the Company’s financial liabilities by level within the fair value hierarchy as of December 31, 2018 (in thousands):
 
 
 
Fair value measurements using
 
Fair value
 
Level 1
 
Level 2
 
Level 3
Financial liabilities:
 
 
 
 
 
 
 
Long-term debt, including current portion (1)
$
150,719

 
$

 
$
150,719

 
$

Total financial liabilities
$
150,719

 
$

 
$
150,719

 
$

__________________________
(1) Of this amount, $9,861 is classified as current. The gross carrying amounts of the Company’s bank debt, before reduction of the debt issuance costs, approximate their fair values as the stated rates approximate market rates for loans with similar terms.