Fair Value Measurement (Tables)

6 Months Ended

Sep. 30, 2012

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of September 30, 2012:



	Fair Value at Reporting Date Using:
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Balance
Cash Equivalents and Short-Term investments:
US government treasuries and agencies securities	$	145,836	$	—	$	—	$	145,836
Money market funds	61,841		—		—		61,841
Corporate bonds	—		13,696		—		13,696
International government bonds	—		4,605		—		4,605
Corporate commercial paper	—		1,000		—		1,000
Bank deposits	—		11,441		—		11,441
Total assets measured at fair value	$	207,677	$	30,742	$	—	$	238,419
Liabilities:
Fair value of contingent consideration	—		—		6,000		6,000
Total liabilities measured at fair value	$	—	$	—	$	6,000	$	6,000

The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis as of April 1, 2012:



	Fair Value at Reporting Date Using
(in thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Cash Equivalents and Short-Term investments:
US government treasuries and agencies securities	$	156,315	$	—	$	—	$	156,315
Money market funds	104,596		—		—		104,596
Corporate bonds	—		21,538		—		21,538
International government bonds	—		4,648		—		4,648
Corporate commercial paper	—		3,148		—		3,148
Bank deposits	—		11,633		—		11,633
Municipal bonds	—		653		—		653
Total assets measured at fair value	$	260,911	$	41,620	$	—	$	302,531

Change in Fair Value of Contingent Consideration Measured Using Level 3 Inputs

The following table summarizes the change in the fair value of the contingent consideration measured using significant unobservable inputs (Level 3) for the six months ended September 30, 2012:



(in thousands)	Estimated Fair Value
Balance as of April 1, 2012	$	—
Additions	6,000
Deletions	—
Balance as of September 30, 2012	$	6,000

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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