FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Mar. 31, 2018

Summary of activities related to contingent consideration

The following table summarizes the activities related to contingent consideration:



	As of March 31,
	2018			2017
	(In thousands)
Beginning balance	$	22,426		$	73,423
Additions to accrual	—			—
Payments and settlements	(17,109		)	(44,912		)
Fair value adjustments	(5,317		)	(6,085		)
Ending balance	$	—		$	22,426

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 as of March 31, 2018 and 2017:



	Fair Value Measurements as of March 31, 2018
	Level 1		Level 2			Level 3		Total
	(In thousands)
Assets:
Money market funds and time deposits (Note 2)	$	—	$	452,622		$	—	$	452,622
Foreign exchange forward contracts (Note 9)	—		43,334			—		43,334
Deferred compensation plan assets:
Mutual funds, money market accounts and equity securities	7,196		67,532			—		74,728
Liabilities:
Foreign exchange forward contracts (Note 9)	$	—	$	(25,311	)	$	—	$	(25,311	)



	Fair Value Measurements as of March 31, 2017
	Level 1		Level 2			Level 3			Total
	(In thousands)
Assets:
Money market funds and time deposits (Note 2)	$	—	$	1,066,841		$	—		$	1,066,841
Foreign exchange forward contracts (Note 9)	—		22,022			—			22,022
Deferred compensation plan assets:
Mutual funds, money market accounts and equity securities	7,062		52,680			—			59,742
Liabilities:
Foreign exchange forward contracts (Note 9)	$	—	$	(11,742	)	$	—		$	(11,742	)
Contingent consideration in connection with acquisitions	—		—			(22,426		)	(22,426		)

Schedule of liabilities not carried at fair value

The following table presents the Company's liabilities not carried at fair value as of March 31, 2018 and 2017:



	As of March 31, 2018				As of March 31, 2017
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Hierarchy
	(In thousands)				(In thousands)
4.625% Notes due February 2020	$	500,000	$	513,596	$	500,000	$	526,255	Level 1
Term Loan, including current portion, due in installments through November 2021	687,813		689,966		700,000		699,566		Level 1
Term Loan, including current portion, due in installments through June 2022 (1)	483,656		485,470		502,500		503,756		Level 1
5.000% Notes due February 2023	500,000		525,292		500,000		534,820		Level 1
4.750% Notes due June 2025	596,387		627,407		595,979		633,114		Level 1
Euro Term Loan due September 2020	59,443		59,443		53,075		53,075		Level 1
Euro Term Loan due January 2022	123,518		123,518		107,357		107,357		Level 1
Total	$	2,950,817	$	3,024,692	$	2,958,911	$	3,057,943

(1) In June 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 8 for further details of the arrangement.