Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 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
	December 31, 2023		Level 1		Level 2		Level 3
Money-market funds (1)	$	1,276,423	$	1,276,423	$	—	$	—
Non-qualified deferred compensation asset (2)	10,853		10,853		—		—
Non-qualified deferred compensation liability (2)	(15,066)		(15,066)		—		—
Designated Derivative Contracts asset (3)	233		—		233		—
Designated Derivative Contracts liability (3)	(86)		—		(86)		—


	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 December 31, 2023, the non-qualified deferred compensation asset of $10,853 is recorded in other assets in the condensed consolidated balance sheets, and of the $15,066 non-qualified deferred compensation liability, $408 is recorded in other accrued expenses and $14,658 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), with related assets and liabilities recorded in other current assets and other accrued expenses, respectively, in the condensed consolidated balance sheets. Refer to Note 7, “Derivative Instruments,” for further information, including the definition of the term Designated Derivative Contracts.