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FOREIGN CURRENCY DERIVATIVES (Tables)
 12 Months Ended
Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Offsetting Financial Assets Under Master Netting Agreements
As of March 31, 2013:
 
Gross Amount of Derivative Assets Presented in the Consolidated Balance Sheets
Gross Amounts Not Offset in the Consolidated Balance Sheet that are Subject to Master Netting Agreements
 
(in thousands)
Gross Amount of Eligible Offsetting Recognized Derivative Liabilities
Cash Collateral Received
Net Amount of Derivative Assets
Derivatives subject to master netting agreements
$
1,005

$
(215
)
$
—

$
790

Derivatives not subject to master netting agreements
660

 
 
660

Total
$
1,665

 
 
$
1,450

As of March 31, 2014:
 
Gross Amount of Derivative Assets Presented in the Consolidated Balance Sheets
Gross Amounts Not Offset in the Consolidated Balance Sheet that are Subject to Master Netting Agreements
 
(in thousands)
Gross Amount of Eligible Offsetting Recognized Derivative Liabilities
Cash Collateral Received
Net Amount of Derivative Assets
Derivatives subject to master netting agreements
$
473

$
(473
)
$
—

$
—

Derivatives not subject to master netting agreements
654

 
 
654

Total
$
1,127

 
 
$
654
Offsetting Financial Liabilities Under Master Netting Agreements
 
Gross Amount of Derivative Liabilities Presented in the Consolidated Balance Sheets
Gross Amounts Not Offset in the Consolidated Balance Sheet that are Subject to Master Netting Agreements
 
(in thousands)
Gross Amount of Eligible Offsetting Recognized Derivative Assets
Cash Collateral Received
Net Amount of Derivative Liabilities
Derivatives subject to master netting agreements
$
(1,428
)
$
473

$
—

$
(955
)
Derivatives not subject to master netting agreements
(1,455
)
 
 
(1,455
)
Total
$
(2,883
)
 
 
$
(2,410
)
 
Gross Amount of Derivative Liabilities Presented in the Consolidated Balance Sheets
Gross Amounts Not Offset in the Consolidated Balance Sheet that are Subject to Master Netting Agreements
 
(in thousands)
Gross Amount of Eligible Offsetting Recognized Derivative Assets
Cash Collateral Received
Net Amount of Derivative Liabilities
Derivatives subject to master netting agreements
$
(215
)
$
215

$
—

$
—

Derivatives not subject to master netting agreements
(79
)
 
 
(79
)
Total
$
(294
)
 
 
$
(79
)
Notional Amounts of Outstanding Foreign Exchange Contracts and Approximate U.S. Dollar Equivalent
The following table summarizes the notional value of the Company’s outstanding foreign exchange currency contracts and approximate U.S. Dollar equivalent (“USD Equivalent”) at March 31, 2014:

 
Local Currency
 
USD Equivalent
 
Position
 
Maturity
 
(in thousands)
 
(in thousands)
 
 
 
 
EUR
€
19,600

 
$
26,951

 
Sell EUR
 
1 month
GBP
£
1,600

 
$
2,662

 
Sell GBP
 
1 month
AUD
A$
3,700

 
$
3,413

 
Sell AUD
 
1 month
Effect of Non-Designated Derivative Contracts On Results of Operations Recognized in Interest and Other Income (Expense), Net in Statements of Operations
The effect of non-designated derivative contracts on results of operations recognized in interest and other income (expense), net in the consolidated statements of operations was as follows:

 
 
Fiscal Year Ended March 31,
(in thousands)
 
2014
 
2013
 
2012
Gain on foreign exchange contracts
 
$
1,631

 
$
1,065

 
$
1,009
Notional Value of Outstanding Currency Swaps and Approximate U.S. Dollar Equivalent
The following table summarizes the notional value of the Company's outstanding MXN currency swaps and approximate USD Equivalent at March 31, 2014:

 
 
Local Currency
 
USD Equivalent
 
Position
 
Maturity
 
 
(in thousands)
 
(in thousands)
 
 
 
 
 
MX$
 
204,550

 
$
15,339

 
Buy MXN
 
Monthly over
9 months
Balance of Designated Derivative Contracts and the Pre-Tax Impact on Accumulated Other Comprehensive Income
The following table presents the pre-tax effects of derivative instruments designated as cash flow hedges on AOCI and the consolidated statements of operations for fiscal years ended March 31, 2014, 2013, and 2012:

(in thousands)
 
2014
 
2013
 
2012
Gain (loss) included in AOCI as of beginning of period
 
$
1,371

 
$
1,937

 
$
(3,814
)
 
 
 
 
 
 
 
Amount of gain (loss) recognized in OCI (effective portion)
 
(3,750
)
 
3,441

 
2,951

 
 
 
 
 
 
 
Amount of gain (loss) reclassified from OCI into net revenues (effective portion)
 
(965
)
 
3,367

 
(2,415
)
Amount of gain (loss) reclassified from OCI into cost of revenues (effective portion)
 
28

 
640

 
(385
)
Total amount of gain (loss) reclassified from AOCI to income (loss) (effective portion)
 
(937
)
 
4,007

 
(2,800
)
 
 
 
 
 
 
 
Loss included in AOCI as of end of period
 
$
(1,442
)
 
$
1,371

 
$
1,937



The Company recognized an immaterial loss in the consolidated statement operations on the ineffective portion of the cash flow hedges reported in interest and other income, net during the year ended March 31, 2014. There was no ineffective portion of hedges designated as cash flow hedging instruments during the years ended March 31, 2013 or March 31, 2012.