Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2018

The following summarizes the Company’s financial assets and liabilities measured at fair value, by level within the fair value hierarchy:

	December 31, 2018								March 31, 2018
			Fair Value Measurements Using Inputs Considered as								Fair Value Measurements Using Inputs Considered as
	Fair Value		Level 1		Level 2		Level 3		Fair Value		Level 1		Level 2		Level 3
Assets
Short-term investments
Mutual funds	$	2,868,000	$	2,868,000		-		-	$	2,828,000	$	2,828,000		-		-
Prepaid expenses and other current assets
Forward foreign currency exchange contracts		-		-		-		-		1,179,000		-	$	1,179,000		-

Liabilities
Accrued liabilities
Short-term contingent consideration		1,830,000		-		-	$	1,830,000		-		-		-		-
Other current liabilities
Deferred compensation		2,868,000		2,868,000		-		-		2,828,000		2,828,000		-		-
Forward foreign currency exchange contracts		449,000		-	$	449,000		-		-		-		-		-
Other liabilities
Long-term contingent consideration		1,730,000		-		-		1,730,000		-		-		-		-

The assumptions used to determine the fair value of the contingent consideration were:

	December 31, 2018
Risk free interest rate		2.61	%
Counter party rate		8.61	%
Expected volatility		30.00	%
Weighted average cost of capital		17.00	%

The following table summarizes the activity for financial assets and liabilities utilizing Level 3 fair value measurements:

	Three Months Ended December 31,				Nine Months Ended December 31,
	2018		2017		2018		2017
	Contingent Consideration		Contingent Consideration		Contingent Consideration		Contingent Consideration
Beginning balance	$	-	$	-	$	-	$	-
Newly issued		3,560,000		-		3,560,000		-
Total (gain) loss included in net income (loss)		-		-		-		-
Exercises/settlements		-		-		-		-
Net transfers in (out) of Level 3		-		-		-		-
Ending balance	$	3,560,000	$	-	$	3,560,000	$	-