FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Jun. 30, 2017

Schedule of business acquisitions by acquisition, contingent consideration

The following table summarizes the activities related to contingent consideration payable for historic acquisitions:



	Three-Month Periods Ended
	June 30, 2017			July 1, 2016
	(In thousands)
Beginning balance	$	22,426		$	73,423
Additions to accrual	—			—
Payments	—			—
Fair value adjustments	(7,000		)	1,835
Ending balance	$	15,426		$	75,258

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 June 30, 2017
	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)	$	—	$	576,460		$	—		$	576,460
Deferred purchase price receivable (Note 10)	—		—			547,492			547,492
Foreign exchange contracts (Note 8)	—		22,079			—			22,079
Deferred compensation plan assets:									0
Mutual funds, money market accounts and equity securities	7,806		56,041			—			63,847
Liabilities:									0
Foreign exchange contracts (Note 8)	$	—	$	(11,035	)	$	—		$	(11,035	)
Contingent consideration in connection with business acquisitions	—		—			(15,426		)	(15,426		)

	Fair Value Measurements as of March 31, 2017
	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)	$	—	$	1,066,841		$	—		$	1,066,841
Deferred purchase price receivable (Note 10)	—		—			506,522			506,522
Foreign exchange contracts (Note 8)	—		22,022			—			22,022
Deferred compensation plan assets:									0
Mutual funds, money market accounts and equity securities	7,062		52,680			—			59,742
Liabilities:									0
Foreign exchange contracts (Note 8)	$	—	$	(11,742	)	$	—		$	(11,742	)
Contingent consideration in connection with business acquisitions	—		—			(22,426		)	(22,426		)

Schedule of debt not carried at fair value

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



	As of June 30, 2017				As of March 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Hierarchy
	(In thousands)
4.625% Notes due February 2020	$	500,000	$	526,370	$	500,000	$	526,255	Level 1
Term Loan, including current portion, due in installments through November 2021	700,000		699,125		700,000		699,566		Level 1
Term Loan, including current portion, due in installments through June 2022 (1)	502,500		503,405		502,500		503,756		Level 1
5.000% Notes due February 2023	500,000		546,820		500,000		534,820		Level 1
4.750% Notes due June 2025	596,078		639,876		595,979		633,114		Level 1
Euro Term Loan due September 2020	55,977		55,977		53,075		53,075		Level 1
Euro Term Loan due January 2022	114,093		114,093		107,357		107,357		Level 1
Total	$	2,968,648	$	3,085,666	$	2,958,911	$	3,057,943

(1) On June 30, 2017, the Company entered into a new arrangement and extended the maturity date of the agreement from March 31, 2019 to June 30, 2022. Refer to note 6 for further details of the arrangement.