FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Mar. 31, 2020

The following table presents the Company's assets and liabilities measured at fair value on a recurring basis as of March 31, 2020 and 2019:



	Fair Value Measurements as of March 31, 2020
	Level 1		Level 2			Level 3		Total
	(In thousands)
Assets:
Money market funds and time deposits (Note 2)	$	—	$	403,657		$	—	$	403,657
Foreign currency contracts (Note 9)	—		104,192			—		104,192
Deferred compensation plan assets:
Mutual funds, money market accounts and equity securities	—		49,086			—		49,086
Liabilities:
Foreign currency contracts (Note 9)	$	—	$	(149,354	)	$	—	$	(149,354	)



	Fair Value Measurements as of March 31, 2019
	Level 1		Level 2			Level 3		Total
	(In thousands)
Assets:
Money market funds and time deposits (Note 2)	$	—	$	473,888		$	—	$	473,888
Foreign currency contracts (Note 9)	—		27,277			—		27,277
Deferred compensation plan assets:
Mutual funds, money market accounts and equity securities	2,845		76,852			—		79,697
Liabilities:
Foreign currency contracts (Note 9)	$	—	$	(27,426	)	$	—	$	(27,426	)

The following table presents the Company's major debts not carried at fair value as of March 31, 2020 and 2019:



	As of March 31, 2020				As of March 31, 2019
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Hierarchy
	(In thousands)				(In thousands)
Term Loan, including current portion, due in installments through June 2022	$	433,406	$	413,903	$	458,531	$	457,958	Level 1
5.000% Notes due February 2023	500,000		499,710		500,000		499,950		Level 1
Term Loan due April 2024 - three-month Yen LIBOR plus 0.50%	310,115		310,115		—		—		Level 2
4.750% Notes due June 2025	597,265		613,152		596,815		599,940		Level 1
4.875% Notes due June 2029	661,908		628,419		—		—		Level 1
Euro Term Loans	207,646		207,646		165,270		165,270		Level 2
India Facilities	138,238		138,238		170,206		170,206		Level 2