SUMMARY OF ACCOUNTING POLICIES (Tables)

12 Months Ended

Mar. 31, 2017

The following table summarizes the activity in the Company's allowance for doubtful accounts during fiscal years 2017, 2016 and 2015:



	Balance at Beginning of Year		Charged to Costs and Expenses			Deductions/ Write-Offs			Balance at End of Year
	(In thousands)
Allowance for doubtful accounts:
Year ended March 31, 2015	$	5,529	$	650		$	(1,645	)	$	4,534
Year ended March 31, 2016	$	4,534	$	72,295		$	(12,221	)	$	64,608
Year ended March 31, 2017	$	64,608	$	(184	)	$	(7,122	)	$	57,302

Cash and cash equivalents consisted of the following:



	As of March 31,
	2017		2016
	(In thousands)
Cash and bank balances	$	763,834	$	533,438
Money market funds and time deposits	1,066,841		1,074,132
	$	1,830,675	$	1,607,570

The components of inventories, net of lower of cost or market write-downs, were as follows:

Property and equipment was comprised of the following:



	Depreciable Life (In Years)	As of March 31,
	Depreciable Life (In Years)	2017			2016
		(In thousands)
Machinery and equipment	3 - 10	$	3,233,392		$	3,187,590
Buildings	30	1,237,739			1,144,798
Leasehold improvements	up to 30	395,663			397,340
Furniture, fixtures, computer equipment and software	3 - 7	502,223			477,203
Land	—	145,663			127,927
Construction-in-progress	—	212,326			178,851
		5,727,006			5,513,709
Accumulated depreciation and amortization		(3,409,980		)	(3,256,076		)
Property and equipment, net		$	2,317,026		$	2,257,633

The following table summarizes the activity in the Company's goodwill during fiscal years 2017 and 2016 (in thousands):



	HRS			CTG		IEI			CEC		Total
Balance, as of March 31, 2015	93,138			68,234		64,221			108,038		333,631
Additions (1)	340,610			—		258,582			3,655		602,847
Purchase accounting adjustments (3)	125			—		—			—		125
Foreign currency translation adjustments (4)	5,463			—		—			—		5,463
Balance, as of March 31, 2016	$	439,336		$	68,234	$	322,803		$	111,693	$	942,066
Additions (1)	—			42,989		17,544			3,309		63,842
Divestitures (2)	(1,787		)	—		(2,640		)	—		(4,427		)
Purchase accounting adjustments (3)	794			—		—			—		794
Foreign currency translation adjustments (4)	(17,408		)	—		—			—		(17,408		)
Balance, as of March 31, 2017	$	420,935		$	111,223	$	337,707		$	115,002	$	984,867

_______________________________________________________________________________


(1)	The goodwill generated from the Company's business combinations completed during the fiscal years 2017 and 2016 are primarily related to value placed on the employee workforce, service offerings and capabilities and expected synergies. The goodwill is not deductible for income tax purposes. Refer to the discussion of the Company's business acquisitions in note 17.


(2)	During the fiscal year ended March 31, 2017, the Company disposed of two non-strategic businesses within the IEI and HRS segments, and recorded an aggregate reduction of goodwill of $4.4 million accordingly, which is included in the loss on sale recorded in other charges, net on the consolidated statement of operations.


(3)	Includes adjustments based on management's estimates resulting from their review and finalization of the valuation of assets and liabilities acquired through certain business combinations completed in a period subsequent to the respective acquisition. These adjustments were not individually, nor in the aggregate, significant to the Company.


(4)	During the fiscal years ended March 31, 2017 and 2016, the Company recorded $17.4 million and $5.5 million, respectively, of foreign currency translation adjustments primarily related to the goodwill associated with the acquisition of Mirror Controls International ("MCi") in fiscal year 2016, as the U.S. Dollar fluctuated against the Euro.

The components of acquired intangible assets are as follows:



	As of March 31, 2017							As of March 31, 2016
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(In thousands)
Intangible assets:
Customer-related intangibles	$	260,704	$	(105,912	)	$	154,792	$	223,046	$	(66,473	)	$	156,573
Licenses and other intangibles	283,897		(76,508		)	207,389		285,053		(37,872		)	247,181
Total	$	544,601	$	(182,420	)	$	362,181	$	508,099	$	(104,345	)	$	403,754

The estimated future annual amortization expense for acquired intangible assets is as follows: