Organization and Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2018

Summary of components of accumulated other comprehensive income (loss)

The following summary sets forth the components of accumulated other comprehensive income (loss) contained in the stockholders’ equity section of the Consolidated Balance Sheets (amounts in thousands):



	Foreign Currency Translation Gains (Losses)			Defined Benefit Post-retirement Plan Adjustments			Defined Benefit Pension Plans ⁽³⁾			Ownership Share of Equity Method Investees’ Other Comprehensive Income (Loss)			Foreign Exchange Contracts			Net Accumulated Other Comprehensive Income (Loss)
Balance at March 31, 2016	$	(10,272	)	$	1,114		$	(15,161	)	$	(6,739	)	$	(367	)	$	(31,425	)
Other comprehensive income (loss) before reclassifications ⁽¹⁾	(15,284		)	228			(536		)	1,440			8,444			(5,708		)
Amounts reclassified in (out) of AOCI ⁽¹⁾	—			(208		)	699			—			(5,170		)	(4,679		)
Other comprehensive income (loss)	(15,284		)	20			163			1,440			3,274			(10,387		)
Balance at March 31, 2017	(25,556		)	1,134			(14,998		)	(5,299		)	2,907			(41,812		)
Other comprehensive income (loss) before reclassifications ⁽²⁾	35,054			(255		)	167			5,584			667			41,217
Amounts reclassified in (out) of AOCI ⁽²⁾	—			—			—			—			(2,420		)	(2,420		)
Other comprehensive income (loss)	35,054			(255		)	167			5,584			(1,753		)	38,797
Balance at March 31, 2018	$	9,498		$	879		$	(14,831	)	$	285		$	1,154		$	(3,015	)

_______________________________________________________________________________

⁽¹⁾Activity within foreign currency translation gains and defined benefit pension plans are net of a tax benefit of zero and $0.7 million, respectively.

⁽²⁾Activity within foreign currency translation losses and defined benefit pension plans are net of a tax expense of zero and $0.4 million, respectively.

⁽³⁾Balance is net of a tax benefit of $2.3 million, $2.7 million, and $2.0 million as of March 31, 2018, 2017, and 2016, respectively.

Schedule of assets measured at fair value on a recurring basis

Assets and liabilities are measured at fair value on a recurring basis as of March 31, 2018 and 2017 are as follows (amounts in thousands):



	Carrying Value March 31,			Fair Value March 31,			Fair Value Measurement Using								Carrying Value March 31,			Fair Value March 31,			Fair Value Measurement Using
	2018			2018			Level 1			Level 2 ⁽³⁾			Level 3		2017			2017			Level 1			Level 2 ⁽³⁾			Level 3
Assets and Liabilities:
Money markets ⁽¹⁾⁽²⁾	$	83,891		$	83,891		$	83,891		$	—		$	—	$	2,055		$	2,055		$	2,055		$	—		$	—
Total debt	(324,623		)	(343,125		)	(337,043		)	(6,082		)	—		(388,211		)	(385,251		)	(353,000		)	(32,251		)	—
TOKIN options, net ⁽⁴⁾	—			—			—			—			—		(9,900		)	(9,900		)	—			—			(9,900		)

_______________________________________________________________________________

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

⁽²⁾Certificates Deposits of $33.9 million that mature in three months or less are included within the balance as of March 31, 2018.

⁽³⁾The valuation approach used to calculate fair value was a discounted cash flow based on the borrowing rate for each respective debt facility.

⁽⁴⁾See Note 6, “Equity Method Investments,” for a description of the TOKIN options. The value of the options was interrelated and depended on the enterprise value of TOKIN Corporation and its EBITDA over the duration of the instruments. Therefore, the options were 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 options valuation activity using significant unobservable inputs (Level 3) (amounts in thousands):



Balance as of March 31, 2016	$	(20,600	)
Change in value of TOKIN options	10,700
Balance as of March 31, 2017	$	(9,900	)
Option cancellation	9,900
Balance as of March 31, 2018	$	—