Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2014

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)	March 31, 2014		(Level 1)		(Level 2)		(Level 3)
Assets:
Investments	$	28,999	$	—	$	28,999	$	—
Corporate-owned life insurance — current	1,989		—		—		1,989
Corporate-owned life insurance — non-current	2,371		—		—		2,371
Liabilities:
Contingent consideration — current	$	127	$	—	$	—	$	127
Contingent consideration — non-current	1,612		—		—		1,612



	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 and liabilities for the fiscal years ended March 31, 2014 and 2013:



	Level 3 assets and liabilities
(In thousands)	2014		2013
Corporate-owned life insurance:
Balance on April 1	$	3,673	$	3,458
Realized gains	—		—
Unrealized gain relating to instruments held at reporting date	600		107
Purchases, sales, issuances and settlements, net	87		108
Balance on March 31	$	4,360	$	3,673

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 fiscal years ended March 31, 2014 and 2013:



Level 3 assets and liabilities
Year ended March 31, 2014
(In thousands)	Contingent consideration
Balance at April 1, 2013	$	—
Amortization	—
Provisions	—
Activity, payments and other charges (net)	1,739
Balance at March 31, 2014	$	1,739



Level 3 assets and liabilities
Year ended March 31, 2013
	SERP obligations
Balance at April 1, 2012	$	3,323
Amortization	—
Provisions	—
Activity, payments and other charges (net)	(3,323		)
Balance at March 31, 2013	$	—

- 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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