FOREIGN CURRENCY DERIVATIVES (Tables)

3 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Derivative Contracts

The gross fair value of our outstanding derivative contracts at the end of each period was as follows:

(in thousands)	June 30, 2015		March 31, 2015
Derivative Assets (recorded in 'Other current assets')
Non-designated hedges	$	198	$	1,891
Cash flow hedges	4,211		11,372
Total Derivative Assets	$	4,409	$	13,263
Derivative Liabilities (recorded in 'Other accrued liabilities')
Non-designated hedges	$	460	$	1
Cash flow hedges	4,130		3,913
Total Derivative Liabilities	$	4,590	$	3,914

Notional Value of Outstanding Foreign Exchange Currency Contracts

The following table summarizes the notional value of the Company’s outstanding foreign exchange currency contracts and approximate U.S. Dollar ("USD") equivalent at June 30, 2015:

(in thousands)	Local Currency		USD Equivalent		Position	Maturity
EUR	€	29,700	$	33,117	Sell EUR	1 month
GBP	£	5,100	$	8,024	Sell GBP	1 month
AUD	A$	11,900	$	9,087	Sell AUD	1 month
CAD	C$	3,800	$	3,074	Sell CAD	1 month

Effect of Non-Designated Derivative Contracts Recognized in Interest and Other Income, Net

The effect of non-designated derivative contracts recognized in interest and other income, net in the condensed consolidated statements of operations was as follows:

	Three Months Ended   June 30,
(in thousands)	2015			2014
Gain (loss) on foreign exchange contracts	$	(1,128	)	$	14

Notional Value of Outstanding Cross-Currency Swaps

The following table summarizes the notional value of the Company’s outstanding MXN cross-currency swaps and approximate USD Equivalent at June 30, 2015:

(in thousands)	Local Currency	USD Equivalent		Position	Maturity
MXN	449,070	$	31,531	Buy MXN	Monthly over	17 months

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the pre-tax effects of derivative instruments designated as cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three months ended June 30, 2015 and 2014:

	Three Months Ended   June 30,
(in thousands)	2015			2014
Gain (loss) included in AOCI as of beginning of period	$	5,705		$	(1,442	)
Amount of gain (loss) recognized in OCI (effective portion)	(2,838		)	73
Amount of gain (loss) reclassified from OCI into net revenues (effective portion)	3,538			(870		)
Amount of gain (loss) reclassified from OCI into cost of revenues (effective portion)	(773		)	108
Total amount of gain (loss) reclassified from AOCI to income (loss) (effective portion)	2,765			(762		)
Gain (loss) included in AOCI as of end of period	$	102		$	(607	)