Veloce

9 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

VELOCE

VELOCE

In June 2012, the Company completed its acquisition of Veloce Technologies, Inc. ("Veloce") which had been developing specific ARM-based technology for the Company. The total purchase consideration for Veloce was $178.5 million, the payment of which has been subject to the completion of certain development milestones and vesting requirements. For accounting purposes, the costs incurred in connection with the development milestones relating to Veloce were considered compensatory and recognized as R&D expense in the Condensed Consolidated Statements of Operations. Veloce completed the milestones as of March 31, 2014 and the total consideration of $178.5 million has been recognized as R&D expense as of March 31, 2015.

The following table summarizes the cash payment and stock issuance activities during the three and nine months ended December 31, 2015 and 2014 as part of the above arrangement (in thousands):

	Three Months Ended December 31,				Nine Months Ended December 31,
	2015		2014		2015		2014
Cash payments	$	9	$	1,482	$	99	$	8,981
Value of common stock issued	1		257		2,869		872
Total payments	$	10	$	1,739	$	2,968	$	9,853
Shares of common stock issued	—		39		517		116

As of December 31, 2015, $171.9 million of the total Veloce consideration has been paid and the Company expects that an additional $2.2 million will be paid in cash and stock by March 31, 2016. The $171.9 million paid to date includes $89.4 million in cash and the issuance of 11.2 million shares of common stock valued at $82.5 million. The consideration not yet paid of $6.6 million can be settled in cash or common stock (or a combination of cash and stock) at the Company's election and is classified as short-term in the Condensed Consolidated Balance Sheet as of December 31, 2015.