Other Financial Statement Details

12 Months Ended

Mar. 31, 2018

Accounts Receivable, Net [Abstract]

Other Financial Statement Details

Other Financial Statement Details

Accounts Receivable

Accounts receivable consists of the following (amounts in millions):

	March 31,
	2018		2017
Trade accounts receivable	$	557.8	$	473.3
Other	8.1		7.2
Total accounts receivable, gross	565.9		480.5
Less allowance for doubtful accounts	2.2		2.1
Total accounts receivable, net	$	563.7	$	478.4

Inventories

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

	March 31,
	2018		2017
Raw materials	$	26.0	$	14.4
Work in process	311.8		268.3
Finished goods	138.4		134.5
Total inventories	$	476.2	$	417.2

Inventories are valued at the lower of cost and net realizable value 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.

Property, Plant and Equipment

Property, plant and equipment consists of the following (amounts in millions):

	March 31,
	2018		2017
Land	$	73.4	$	73.4
Building and building improvements	508.5		499.7
Machinery and equipment	1,943.9		1,774.9
Projects in process	118.3		104.3
Total property, plant and equipment, gross	2,644.1		2,452.3
Less accumulated depreciation and amortization	1,876.2		1,769.0
Total property, plant and equipment, net	$	767.9	$	683.3

Depreciation expense attributed to property, plant and equipment was $123.7 million, $122.9 million and $103.9 million for the fiscal years ending March 31, 2018, 2017 and 2016, respectively.

During the quarter ended March 31, 2018, the Company entered into an agreement to purchase one of the buildings it leased in San Jose, California for a purchase price of $40.8 million with a closing date of April 4, 2018.

During the quarter ended December 31, 2016, the Company began to actively market a 6-inch wafer fabrication facility it acquired as part of its acquisition of Micrel in August 2015. In the three months ended June 30, 2017, the Company completed the sale of these assets for proceeds of $10.0 million. As of March 31, 2017, these assets consisting of property, plant and equipment were presented as held for sale in the Company's consolidated financial statements.