Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2013

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)	September 30, 2013		(Level 1)		(Level 2)		(Level 3)
Assets:
Corporate-owned life insurance — non-current	$	3,721	$	—	$	—	$	3,721
Liabilities:
Contingent consideration — current	180		—		—		180
Contingent consideration — non-current	1,620		—		—		1,620



	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, 2013	(Level 1)	(Level 2)	(Level 3)
Assets:
Corporate-owned life insurance — non-current	3,673	—	—	3,673

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:



	Six months ended
	September 30,
(In thousands)	2013		2012
Corporate-owned life insurance:
Balance on April 1, 2013	$	3,673	$	3,458
Unrealized gain relating to instruments held at reporting date	6		55
Purchases, sales, issuances and settlements, net	42		42
Balance on September 30, 2013	$	3,721	$	3,555

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)	September 30, 2013		(Level 1)		(Level 2)		(Level 3)
Assets:
Goodwill	$	17,701	$	—	$	—	$	17,701
Intangible assets	11,267		—		—		11,267
Liabilities:
Restructuring liabilities — current	$	438	$	—	$	—	$	438
Other employee benefit plan obligations — non-current	195		—		—		195



	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, 2013		(Level 1)		(Level 2)		(Level 3)
Assets:
Goodwill	$	14,128	$	—	$	—	$	14,128
Intangible assets	11,283		—		—		11,283
Liabilities:
Restructuring liabilities — current	584		—		—		584
Other employee benefit plans obligations — non-current	195		—		—		195

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

The following tables present a summary of changes in the fair value of the Level 3 assets and liabilities:



	Level 3 assets and liabilities
	Six months ended September 30, 2013
(In thousands)	Goodwill		Intangible assets			Contingent consideration		Other employee benefit plans obligations		Restructuring liabilities
Balance at April 1, 2013	$	14,128	$	11,283		$	—	$	195	$	584
Foreign currency translation adjustments	129		—			—		—		—
Amortization	—		(621		)	—		—		—
Provisions	—		—			—		—		512
Purchases	3,444		605			—		—		—
Activity, payments and other charges (net)	—		—			1,800		—		(658		)
Balance at September 30, 2013	$	17,701	$	11,267		1,800		$	195	$	438



	Level 3 assets and liabilities
	Six months ended September 30, 2012
(In thousands)	Goodwill		Intangible assets			SERP obligations			Other employee benefit plans obligations		Restructuring liabilities
Balance at April 1, 2012	$	15,198	$	12,444		$	3,323		$	195	$	6,047
Foreign currency translation adjustments	25		—			—			—		—
Amortization	—		(581		)	—			—		—
Provisions	—		—			—			—		1,213
Activity, payments and other charges (net)	—		—			(3,323		)	—		(5,690		)
Balance at September 30, 2012	$	15,223	$	11,863		$	—		$	195	$	1,570

- 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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