Basis of Financial Statement Presentation (Tables)

3 Months Ended

Jun. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Contract with customer, asset and liability

The balance of net contract liabilities consisted of the following at June 30, 2019 and March 31, 2019 (amounts in thousands):



Contract Liabilities	Classification in Balance Sheet	June 30, 2019		March 31, 2019
Current	Accrued expenses	$	256	$	256
Non-current	Other non-current obligations	—		—
		$	256	$	256

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, 2019 and March 31, 2019 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
	2019			2019			Level 1		Level 2 ⁽³⁾			Level 3		2019			2019			Level 1		Level 2 ⁽³⁾			Level 3
Assets (Liabilities):
Money markets⁽¹⁾⁽²⁾	$	62,846		$	62,846		$	62,846	$	—		$	—	$	60,687		$	60,687		$	60,687	$	—		$	—
Derivative assets	706			706			—		706			—		5,141			5,141					5,141
Derivative liabilities	(3,145		)	(3,145		)	—		(3,145		)	—		—			—			—		—			—
Total debt	(312,096		)	(322,700		)	—		(322,700		)	—		(294,471		)	(303,170		)	—		(303,170		)	—

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

⁽²⁾ Certificates of Deposit of $34.1 million and $32.2 million that mature in three months or less are included within the balance as of June 30, 2019 and March 31, 2019, respectively.

⁽³⁾Derivative assets and liabilities fair value was determined by using a third-party matrix-pricing model that uses significant inputs derived from or corroborated by observable market data. Where applicable, these models discount future cash flow amounts using market-based observable inputs, including interest rate yield curves, and forward and spot prices for currencies. For total debt, the valuation approach used to calculate fair value was a discounted cash flow based on the current market rate.

Schedule of components of inventories

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



	June 30, 2019			March 31, 2019
Raw materials and supplies	$	104,160		$	97,119
Work in process	83,856			71,374
Finished goods	86,766			88,175
Subtotal	274,782			256,668
Inventory reserves	(18,642		)	(15,539		)
Inventories, net	$	256,140		$	241,129