FOREIGN CURRENCY DERIVATIVES (Tables)

9 Months Ended

Dec. 31, 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)	March 31, 2015		December 31, 2015
Derivative Assets (recorded in 'Other current assets')
Non-designated hedges	$	1,891	$	225
Cash flow hedges	11,372		1,964
Total Derivative Assets	$	13,263	$	2,189
Derivative Liabilities (recorded in 'Other accrued liabilities')
Non-designated hedges	$	1	$	749
Cash flow hedges	3,913		3,341
Total Derivative Liabilities	$	3,914	$	4,090

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 December 31, 2015:

(in thousands)	Local Currency		USD Equivalent		Position	Maturity
EUR	€	32,000	$	34,918	Sell EUR	1 month
GBP	£	4,900	$	7,289	Sell GBP	1 month
AUD	A$	11,680	$	8,430	Sell AUD	1 month
CAD	C$	2,860	$	2,059	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   December 31,				Nine Months Ended   December 31,
(in thousands)	2014		2015		2014		2015
Gain (loss) on foreign exchange contracts	$	2,183	$	960	$	5,160	$	1,108

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 December 31, 2015:

(in thousands)	Local Currency	USD Equivalent		Position	Maturity
MXN	445,130	$	28,174	Buy MXN	Monthly over	21 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 and nine months ended December 31, 2015 and 2014:

	Three Months Ended   December 31,						Nine Months Ended   December 31,
(in thousands)	2014			2015			2014			2015
Gain (loss) included in AOCI as of beginning of period	$	2,601		$	(2,900	)	$	(1,442	)	$	5,705
Amount of gain (loss) recognized in OCI (effective portion)	508			1,330			3,604			(3,484		)
Amount of gain (loss) reclassified from OCI into net revenues (effective portion)	1,220			1,739			61			7,474
Amount of gain (loss) reclassified from OCI into cost of revenues (effective portion)	(63		)	(1,238		)	149			(3,182		)
Total amount of gain (loss) reclassified from AOCI to income (loss) (effective portion)	1,157			501			210			4,292
Gain (loss) included in AOCI as of end of period	$	1,952		$	(2,071	)	$	1,952		$	(2,071	)