Basis of Financial Statement Presentation (Tables)

3 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of new accounting pronouncements

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis as of June 30, 2017 and March 31, 2017 are as follows (amounts in thousands):

	Carrying Value June 30,			Fair Value June 30,			Fair Value Measurement Using								Carrying Value March 31,			Fair Value March 31,			Fair Value Measurement Using
	2017			2017			Level 1			Level 2 (2)			Level 3		2017			2017			Level 1			Level 2 (2)			Level 3
Assets (Liabilities):
Money markets (1)	$	23,425		$	23,425		$	23,425		$	—		$	—	$	2,055		$	2,055		$	2,055		$	—		$	—
Total debt	(335,145		)	(333,852		)	(328,569		)	(5,283		)	—		(388,211		)	(385,251		)	(353,000		)	(32,251		)	—
TOKIN option,  net (3)	—			—			—			—			—		(9,900		)	(9,900		)	—			—			(9,900		)

___________________

(1) Included in the line item “Cash and cash equivalents” on the Condensed Consolidated Balance Sheets.

(2) The valuation approach used to calculate fair value was a discounted cash flow based on the borrowing rate for each respective debt facility.

(3) See Note 7, “Investment in TOKIN,” for a description of the TOKIN option, which was canceled on April 19, 2017 pursuant to the terms of the TOKIN purchase agreement.  The value of the option depended on the enterprise value of TOKIN and its forecasted EBITDA over the duration of the option. The option was valued using option pricing methods in a Monte Carlo simulation.

Summary of NEC TOKIN option valuation activity using significant unobservable inputs (Level 3)

The table below summarizes TOKIN option valuation activity using significant unobservable inputs (Level 3) (amounts in thousands):

March 31, 2017	$	(9,900	)
Option cancellation	9,900
June 30, 2017	$	—

Schedule of components of inventories

Inventories are stated at the lower of cost or market.  The components of inventories are as follows (amounts in thousands):

	June 30, 2017			March 31, 2017
Raw materials and supplies	$	82,175		$	65,750
Work in process	63,143			47,408
Finished goods	61,580			50,738
	206,898			163,896
Inventory reserves	(14,868		)	(15,941		)
	$	192,030		$	147,955