Inventories (Notes)

3 Months Ended

Jun. 30, 2016

The components of inventories consist of the following (amounts in thousands):



	June 30, 2016		March 31, 2016
Raw materials	$	14,971	$	12,179
Work in process	346,506		208,283
Finished goods	156,954		86,353
Total inventories	$	518,431	$	306,815

Inventories are valued at the lower of cost or market using the first-in, first-out method. Inventory impairment charges establish a new cost basis for inventory and charges are not subsequently reversed to income even if circumstances later suggest that increased carrying amounts are recoverable. The inventory balance at June 30, 2016 includes a $80.9 million acquired inventory fair value adjustment resulting from the acquisition of Atmel.