Other Assets

12 Months Ended

Mar. 31, 2022

Other Assets [Abstract]

Other Assets

Note 10. Other Assets

The components of other assets are as follows:

	March 31, 2022		March 31, 2021
	(in thousands)
Investment in Shockwave Medical	$	61,535	$	38,655
Other investments (Note 5)		70,314		62,995
Operating lease right-of-use assets (Note 11)		9,518		6,109
Other intangible assets and other assets		6,118		5,323
Total other assets	$	147,485	$	113,082

Investment in Shockwave Medical

In fiscal year 2019, the Company invested $25.0 million in Shockwave Medical, a publicly traded medical device company. During the fiscal year ended March 31, 2021, the Company sold approximately 1.4 million of its shares for cash proceeds of $67.9 million in which it realized a gain of $47.3 million. The fair value of this investment as of March 31, 2022 and 2021 was $61.5 million and $38.7 million, respectively. The Company recognized gains of $22.9 million, $50.8 million and $0.5 million for the years ended March 31, 2022, 2021 and 2020, respectively to interest and other income, net. The Company held 0.3 million shares of Shockwave Medical as of both March 31, 2022 and 2021.

Other Long-Term Assets

The Company’s other long-term assets is comprised primarily of license manufacturing rights to certain technology from third parties and prepayments related to the Company’s clinical trial activities.