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Other Assets
6 Months Ended
Sep. 30, 2022
Other Assets [Abstract]  
Other Assets

Note 10. Other Assets

The components of other assets are as follows:

 

 

 

September 30, 2022

 

 

March 31, 2022

 

 

 

(in thousands)

 

Investment in Shockwave Medical

 

$

46,385

 

 

$

61,535

 

Other investments (Note 6)

 

 

125,807

 

 

 

70,314

 

Operating lease right of use assets

 

 

7,550

 

 

 

9,518

 

Other intangible assets and other assets

 

 

13,302

 

 

 

6,118

 

   Total other assets

 

$

193,044

 

 

$

147,485

 

 

Investment in Shockwave Medical

The fair value of the Company’s investment in Shockwave Medical, a publicly-traded medical device company, was $46.4 million and $61.5 million as of September 30, 2022 and March 31, 2022, respectively. During the three months ended September 30, 2022 and 2021, the Company recorded an unrealized gain of $14.5 million and $4.8 million, respectively, in interest and other income, net within the condensed consolidated statements of operations. During the six months ended September 30, 2022 and 2021, the Company recorded an unrealized gain of $9.7 million and $22.4 million, respectively, in interest and other income, net within the condensed consolidated statements of operations.

 

In August 2022, the Company sold approximately 0.1 million of its shares of Shockwave Medical stock for cash proceeds of approximately $40.0 million and realized a net gain of $15.2 million in interest and other income, net within the condensed consolidated statement of operations.

Operating Lease Right of Use Assets

The Company has lease agreements for real estate including corporate offices and warehouse space, vehicles and certain equipment. The balance of operating lease right-of-use assets included in other assets was $7.6 million and $9.5 million as of September 30, 2022 and March 31, 2022, respectively

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.