Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2012

Assets and liabilities measured at fair value on a recurring basis

The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value:



	Fair value measurement used
	Recorded value as of		Active markets for identical assets or liabilities		Quoted prices in similar instruments and observable inputs		Active markets for unobservable inputs
(In thousands)	December 31, 2012		(Level 1)		(Level 2)		(Level 3)
Assets:
Corporate-owned life insurance — non-current	$	3,589	$	—	$	—	$	3,589



	Fair value measurement used
	Recorded value as of		Active markets for identical assets or liabilities		Quoted prices in similar instruments and observable inputs		Active markets for unobservable inputs
(In thousands)	March 31, 2012		(Level 1)		(Level 2)		(Level 3)
Assets:
Available for sale restricted marketable securities — current	$	4,408	$	4,408	$	—	$	—
Corporate-owned life insurance — non-current	3,458		—		—		3,458
Liabilities:
BEP —current	2,948		—		2,948		—

Summary of changes in the fair value of the Level 3 assets and liabilities Corporate-owned life insurance

The following table presents a summary of changes in the fair value of the Level 3 assets and liabilities for the nine months ended December 31, 2012 and 2011:



	Level 3 assets and liabilities
(In thousands)	2012		2011
Corporate-owned life insurance:
Balance on April 1	$	3,458	$	3,323
Unrealized gain relating to instruments held at reporting date	46		83
Purchases, sales, issuances and settlements, net	85		(235		)
Balance on December 31	$	3,589	$	3,171

Financial and nonfinancial assets and liabilities measured at fair value on a nonrecurring basis

The following tables present information about our financial and nonfinancial assets and liabilities measured at fair value on a nonrecurring basis and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value:



	Fair value measurement used
	Recorded value as of		Active markets for identical assets or liabilities		Quoted prices in similar instruments and observable inputs		Active markets for unobservable inputs
(In thousands)	December 31, 2012		(Level 1)		(Level 2)		(Level 3)
Assets:
Goodwill	$	14,259	$	—	$	—	$	14,259
Intangible assets	15,922		—		—		15,922

Liabilities:
Restructuring liabilities — current	$	931	$	—	$	—	$	931
Other employee benefit plan obligations — non-current	196		—		—		196



	Fair value measurement used
	Recorded value as of		Active markets for identical assets or liabilities		Quoted prices in similar instruments and observable inputs		Active markets for unobservable inputs
(In thousands)	March 31, 2012		(Level 1)		(Level 2)		(Level 3)
Assets:
Goodwill	$	15,198	$	—	$	—	$	15,198
Intangible assets	14,135		—		—		14,135
Liabilities:
SERP obligations — current	$	3,323	$	—	$	—	$	3,323
Restructuring liabilities — current	5,447		—		—		5,447
Other employee benefit plans obligations — non-current	196		—		—		196
Restructuring liabilities — non-current	852		—		—		852

Summary of changes in the fair value of the Level 3 assets and liabilities

The following table presents a summary of changes in the fair value of the Level 3 assets and liabilities for the nine months ended December 31, 2012 and 2011:



	Level 3 assets and liabilities
	Nine months ended December 31, 2012
(In thousands)	Goodwill			Intangible assets			SERP obligations			Other employee benefit plans obligations		Restructuring liabilities
Balance at April 1, 2012	$	15,198		$	14,135		$	3,323		$	196	$	6,299
Foreign currency translation adjustments	(939		)	—			—			—		—
Amortization	—			(1,621		)	—			—		—
Purchases	—			—			—			—		1,182
Provisions, payments and other charges (net)	—			3,408			(3,323		)	—		(6,550		)
Balance at December 31, 2012	$	14,259		$	15,922		$	—		$	196	$	931



	Level 3 assets and liabilities
	Nine months ended December 31, 2011
(In thousands)	Goodwill			Intangible assets			SERP obligations		Other employee benefit plans obligations		Restructuring liabilities
Balance at April 1, 2011	$	15,211		$	22,535		$	5,791	$	305	$	733
Foreign currency translation adjustments	(107		)	—			—		—		—
Amortization	—			(1,532		)	—		—		—
Purchases	—			—			—		—		4,716
Provisions, payments and other charges (net)	—			959			61		—		(998		)
Balance at December 31, 2011	$	15,104		$	21,962		$	5,852	$	305	$	4,451

- Definition

Tabular disclosure of the fair value measurement of assets 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 (loss), 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, issues, 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 asset.

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