Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2023

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Assets and liabilities that are measured on a recurring basis at fair value in the condensed consolidated balance sheets are as follows:


	As of		Measured Using
	September 30, 2023		Level 1		Level 2		Level 3
Money-market funds (1)	$	489,021	$	489,021	$	—	$	—
Non-qualified deferred compensation asset (2)	9,409		9,409		—		—
Non-qualified deferred compensation liability (2)	(13,603)		(13,603)		—		—
Designated Derivative Contracts asset (3)	4,968		—		4,968		—


	As of		Measured Using
	March 31, 2023		Level 1		Level 2		Level 3
Money-market funds (1)	$	675,468	$	675,468	$	—	$	—
Non-qualified deferred compensation asset (2)	8,399		8,399		—		—
Non-qualified deferred compensation liability (2)	(11,326)		(11,326)		—		—

(1) Money-market funds are recorded in cash and cash equivalents in the condensed consolidated balance sheets.

(2) As of September 30, 2023, the non-qualified deferred compensation asset of $9,409 is recorded in other assets in the condensed consolidated balance sheets, and of the $13,603 non-qualified deferred compensation liability, $615 is recorded in other accrued expenses and $12,988 is recorded in other long-term liabilities in the condensed consolidated balance

sheets. As of March 31, 2023, the non-qualified deferred compensation asset of $8,399 is recorded in other assets in the condensed consolidated balance sheets, and of the $11,326 non-qualified deferred compensation liability, $737 is recorded in other accrued expenses and $10,589 is recorded in other long-term liabilities in the condensed consolidated balance sheets.

(3) The fair value of Designated Derivative Contracts is determined using quoted forward spot rates at the end of the applicable reporting period from counterparties, which are corroborated by market-based pricing (Level 2). The fair values of assets associated with derivative instruments and hedging activities are recorded in other current assets in the condensed consolidated balance sheets. Refer to Note 7, “Derivative Instruments,” for further information, including the definition of the term Designated Derivative Contracts.