Basis of Financial Statement Presentation (Tables)

3 Months Ended

Jun. 30, 2013

Basis of Financial Statement Presentation

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, 2013 and March 31, 2013 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
	2013		2013		Level 1		Level 2 (2)		Level 3		2013		2013		Level 1		Level 2 (2)		Level 3
Assets:
Money markets (1)	$	8,585	$	8,585	$	8,585	$	—	$	—	$	29,984	$	29,984	$	29,984	$	—	$	—
Long-term debt	383,293		384,249		361,213		23,036		—		383,500		393,928		369,200		24,728		—
NEC TOKIN derivative (3)	489		489		—		—		489		489		489		—		—		489

(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 for each respective debt facility.

(3) See Note 5, Investment in NEC TOKIN, for a description of this net call derivative.  The value of the option is interrelated and depend on the enterprise value of NEC TOKIN Corporation and its EBITDA over time. Therefore, the derivative has been valued using option pricing methods in a Monte Carlo simulation.

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, 2013			March 31, 2013
Raw materials and supplies	$	99,634		$	84,852
Work in process	71,352			70,522
Finished goods	70,782			68,705
	241,768			224,079
Inventory reserves (1)	(24,225		)	(18,464		)
	$	217,543		$	205,615

(1) During the quarter ended June 30, 2013, the Company recorded a $3.9 million reserve for inventory held by a third party.