Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Cash Equivalents and Marketable Securities

The Company’s cash equivalents and marketable securities at March 31, 2022 and 2021 are invested in the following:

	Amortized		Gross Unrealized		Gross Unrealized			Fair Market
	Cost		Gains		Losses			Value
March 31, 2022:	(in thousands)
Money market funds	$	32,955	$	—	$	—		$	32,955
Commercial paper		28,961		—		(3	)		28,958
Total cash equivalents		61,916		—		(3	)		61,913
Short-term U.S. Treasury mutual fund securities		287,010		—		(1,384	)		285,626
Short-term government-backed securities		131,954		1		(554	)		131,401
Short-term corporate debt securities		61,108		36		(113	)		61,031
Short-term commercial paper		148,128		—		(397	)		147,731
Total short-term marketable securities		628,200		37		(2,448	)		625,789
Long-term U.S. Treasury mutual fund securities		89,168		—		(1,796	)		87,372
Long-term government-backed securities		126,150		—		(3,378	)		122,772
Long-term corporate debt securities		10,226		—		(281	)		9,945
Total long-term marketable securities		225,544		—		(5,455	)		220,089
Total cash equivalents and marketable securities	$	915,660	$	37	$	(7,906	)	$	907,791

	Amortized		Gross Unrealized		Gross Unrealized			Fair Market
	Cost		Gains		Losses			Value
March 31, 2021:	(in thousands)
Money market funds	$	124,297	$	—	$	—		$	124,297
Repurchase agreements		33,000		—		—			33,000
Total cash equivalents		157,297		—		—			157,297
Short-term U.S. Treasury mutual fund securities		72,221		28		—			72,249
Short-term government-backed securities		128,668		13		(12	)		128,669
Short-term corporate debt securities		104,253		581		(2	)		104,832
Short-term commercial paper		45,237		1		(3	)		45,235
Total short-term marketable securities		350,379		623		(17	)		350,985
Long-term government-backed securities		225,231		190		(37	)		225,384
Long-term corporate debt securities		38,091		630		(20	)		38,701
Total long-term marketable securities		263,322		820		(57	)		264,085
Total cash equivalents and marketable securities	$	770,998	$	1,443	$	(74	)	$	772,367

Schedule of Cross-Currency Rate Swap Derivatives Agreement

The following table summarizes the terms of the cross-currency swap agreement as of March 31, 2022 (amounts in thousands):

	Effective Date	Maturity	Fixed Rate	Aggregate Notional Amount
Pay EUR	October 15,	October 15,	2.75%		EUR 85,000
Receive U.S.$	2019	2024	4.64%		USD 93,457

Schedule of Fair Value of Company's Derivative Instrument

The following table presents the fair value of the Company’s derivative instrument as follows (amounts in thousands):

Derivatives designated as hedging instruments under ASC 815	Balance sheet classification	March 31, 2022		March 31, 2021
Cross-currency swap	Other long-term liabilities	$	489	$	4,298

Components of Contingent Consideration Liabilities

The components of contingent consideration are as follows:

	March 31, 2022		March 31, 2021
	(in thousands)
ECP	$	12,010	$	10,306
Breethe		9,500		14,400
Total contingent consideration	$	21,510	$	24,706

Financial Instruments Measured at Fair Value

	Level 1		Level 2		Level 3		Total
March 31, 2022:	(in thousands)
Assets
Money market funds	$	32,955	$	—	$	—	$	32,955
Commercial paper		—		28,958		—		28,958
Short-term U.S. Treasury mutual fund securities		—		285,626		—		285,626
Short-term government-backed securities		—		131,401		—		131,401
Short-term corporate debt securities		—		61,031		—		61,031
Short-term commercial paper		—		147,731		—		147,731
Long-term U.S. Treasury mutual fund securities		—		87,372		—		87,372
Long-term government-backed securities		—		122,772		—		122,772
Long-term corporate debt securities		—		9,945		—		9,945
Investment in Shockwave Medical (Note 10)		61,535		—		—		61,535
Liabilities
Cross-currency swap agreement		—		489		—		489
Contingent consideration		—		—		21,510		21,510

	Level 1		Level 2		Level 3		Total
March 31, 2021:	(in thousands)
Assets
Money market funds	$	124,297	$	—	$	—	$	124,297
Repurchase agreements		—		33,000		—		33,000
Short-term U.S. Treasury securities		—		72,249		—		72,249
Short-term government-backed securities		—		128,669		—		128,669
Short-term corporate debt securities		—		104,832		—		104,832
Short-term commercial paper		—		45,235		—		45,235
Long-term government-backed securities		—		225,384		—		225,384
Long-term corporate debt securities		—		38,701		—		38,701
Investment in Shockwave Medical (Note 10)		38,655		—		—		38,655
Liabilities
Cross-currency swap agreement		—		4,298		—		4,298
Contingent consideration		—		—		24,706		24,706

Schedule Of Portfolio Of Equity Method and Other Investments and Change in Balance

The carrying value of the Company’s portfolio of other investments and the change in the balance during fiscal years ended March 31, 2022 and 2021 are as follows:

	Fiscal Years Ended March 31,
	2022			2021
	(in thousands)
Beginning balance	$	62,995		$	38,741
Additions		18,769			26,104
Change in investment upon acquisition (Note 3)		(11,443	)		(2,000	)
Impairment		—			(800	)
Change in fair value, net		(7	)		950
Ending balance	$	70,314		$	62,995

Change in Fair Value of Contingent Consideration as Determined by Level 3 Inputs

The following table summarizes the change in fair value, as determined by Level 3 inputs, of contingent consideration for the fiscal years ended March 31, 2022 and 2021:

	Fiscal Years Ended March 31,
	2022			2021
	(in thousands)
Beginning balance	$	24,706		$	9,000
Additions (Note 3)		—			13,300
Payment of Breethe contingent consideration at acquisition date fair value		(2,334	)		—
Change in fair value		(862	)		2,406
Ending balance	$	21,510		$	24,706