FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

9 Months Ended

Dec. 31, 2016

Schedule of business acquisitions by acquisition, contingent consideration

The following table summarizes the activities related to contingent consideration:



	Three-Month Periods Ended					Nine-Month Periods Ended
	December 31, 2016			December 31, 2015		December 31, 2016			December 31, 2015
	(In thousands)
Beginning balance	$	75,614		$	4,500	$	73,423		$	4,500
Additions to accrual	—			81,000		—			81,000
Payments	(40,555		)	—		(42,776		)	—
Fair value adjustments	(6,997		)	4,000		(2,585		)	4,000
Ending balance	$	28,062		$	89,500	$	28,062		$	89,500

Schedule of financial assets and liabilities measured at fair value on a recurring basis

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis:



	Fair Value Measurements as of December 31, 2016
	Level 1		Level 2			Level 3			Total
	(In thousands)
Assets:
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)	$	—	$	751,027		$	—		$	751,027
Deferred purchase price receivable (Note 10)	—		—			668,918			668,918
Foreign exchange contracts (Note 8)	—		27,935			—			27,935
Deferred compensation plan assets:									0
Mutual funds, money market accounts and equity securities	6,686		50,522			—			57,208
Liabilities:									0
Foreign exchange contracts (Note 8)	$	—	$	(22,928	)	$	—		$	(22,928	)
Contingent consideration in connection with business acquisitions	—		—			(28,062		)	(28,062		)

	Fair Value Measurements as of March 31, 2016
	Level 1		Level 2			Level 3			Total
	(In thousands)
Assets:
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)	$	—	$	1,074,132		$	—		$	1,074,132
Deferred purchase price receivable (Note 10)	—		—			501,097			501,097
Foreign exchange contracts (Note 8)	—		22,648			—			22,648
Deferred compensation plan assets:									0
Mutual funds, money market accounts and equity securities	9,228		40,556			—			49,784
Liabilities:									0
Foreign exchange contracts (Note 8)	$	—	$	(21,091	)	$	—		$	(21,091	)
Contingent consideration in connection with business acquisitions	—		—			(73,423		)	(73,423		)

Schedule of debt not carried at fair value

The following table presents the Company’s debt not carried at fair value:



	As of December 31, 2016				As of March 31, 2016
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Hierarchy
	(In thousands)
Term Loan, including current portion, due in installments through March 2019	525,000		524,675		547,500		542,709		Level 1
4.625% Notes due February 2020	500,000		525,740		500,000		524,735		Level 1
Term Loan, including current portion, due in installments through November 2021 (1)	700,000		696,941		577,500		573,533		Level 1
5.000% Notes due February 2023	500,000		532,810		500,000		507,500		Level 1
4.750% Notes due June 2025	595,879		639,288		595,589		604,926		Level 1
Total	$	2,820,879	$	2,919,454	$	2,720,589	$	2,753,403

(1) On November 30, 2016, the Company entered into a new arrangement to extend the maturity date of the agreement from August 30, 2018 to November 30, 2021. Refer to note 5 for further details of the arrangement.