FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

9 Months Ended

Dec. 31, 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						Nine-Month Periods Ended
	December 31, 2017			December 31, 2016			December 31, 2017			December 31, 2016
	(In thousands)
Beginning balance	$	17,342		$	75,614		$	22,426		$	73,423
Payments	(17,109		)	(40,555		)	(17,109		)	(42,776		)
Fair value adjustments	767			(6,997		)	(4,317		)	(2,585		)
Ending balance	$	1,000		$	28,062		$	1,000		$	28,062

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, 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)	$	—	$	424,744		$	—		$	424,744
Foreign exchange contracts (Note 8)	—		21,003			—			21,003
Deferred compensation plan assets:									0
Mutual funds, money market accounts and equity securities	7,212		67,503			—			74,715
Liabilities:									0
Foreign exchange contracts (Note 8)	$	—	$	(25,330	)	$	—		$	(25,330	)
Contingent consideration in connection with business acquisitions	—		—			(1,000		)	(1,000		)

	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
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 December 31, 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	$	516,925	$	500,000	$	526,255	Level 1
Term Loan, including current portion, due in installments through November 2021	691,875		693,605		700,000		699,566		Level 1
Term Loan, including current portion, due in installments through June 2022 (1)	489,938		491,163		502,500		503,756		Level 1
5.000% Notes due February 2023	500,000		536,515		500,000		534,820		Level 1
4.750% Notes due June 2025	596,282		643,440		595,979		633,114		Level 1
Euro Term Loan due September 2020	58,021		58,021		53,075		53,075		Level 1
Euro Term Loan due January 2022	119,786		119,786		107,357		107,357		Level 1
Total	$	2,955,902	$	3,059,455	$	2,958,911	$	3,057,943

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