Fair Value Measurements

12 Months Ended

Mar. 31, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The following tables set forth by level within the fair value hierarchy the Company's financial assets and liabilities that were accounted for at fair value on a recurring basis at March 31, 2013 and March 31, 2012:

	Balance at March 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
ASSETS
Cash and cash equivalents (1)	$	105,999	$	105,999	$	—	$	—
Restricted cash	5,488		5,488		—		—
Marketable securities (2)	12,012		12,012		—		—
	$	123,499	$	123,499	$	—	$	—
LIABILITIES
Contingent consideration related to acquisitions	$	5,336	—		$	—	$	5,336
	$	5,336	$	—	$	—	$	5,336

	Balance at March 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
ASSETS
Cash and cash equivalents (1)	$	134,444	$	134,444	$	—	$	—
Restricted cash	1,962		1,962		—		—
Marketable securities (2)	4,987		4,987		—		—
	$	141,393	$	141,393	$	—	$	—
LIABILITIES
Contingent consideration related to acquisitions	$	6,556	$	—	$	—	$	6,556
	$	6,556	$	—	$	—	$	6,556

____________________

(1) Cash and cash equivalents consists of money market funds.

(2) Marketable securities consists of fixed-income securities.

The Company's contingent consideration liability is accounted for at fair value on a recurring basis and is adjusted to fair value when the carrying value differs from fair value. The categorization of the framework used to measure fair value of the contingent consideration liability is considered Level 3 due to the subjective nature of the unobservable inputs used. The fair values of the contingent consideration liability were estimated based on the probability of achieving certain business milestones and management's forecast of expected revenues. See Note 5.

The following table presents activity in the Company's financial assets and liabilities measured at fair value using significant unobservable inputs (Level 3), as March 31, 2013:

	Total Liabilities
Balance at March 31, 2011	$	915
Acquisitions (Note 5)	6,104
Earnout payments	(463		)
Fair value adjustments	—
Balance at March 31, 2012	$	6,556
Acquisitions (Note 5)	2,862
Earnout payments (1)	(5,354		)
Fair value adjustments	1,272
Balance at March 31, 2013	$	5,336

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(1) Earnout payments comprised of $2,354 in cash and $3,000 in common stock

Non-Recurring Fair Value Measurements

The Company has certain assets, including goodwill and other intangible assets, which are measured at fair value on a non-recurring basis and are adjusted to fair value only if an impairment charge is recognized. The categorization of the framework used to measure fair value of the assets is considered Level 3 due to the subjective nature of the unobservable inputs used. During the year ended March 31, 2013, there were no adjustments to fair value of such assets, except for the intangible assets acquired from Matrix and Poseidon as discussed below in Note 5.