Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2020

Fair Value Measurements [Abstract]

Financial Assets and Liabilities Measured at Fair Value Recurring Basis

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

	December 31, 2020								March 31, 2020
			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	$	1,508,000	$	1,508,000	$	-	$	-	$	850,000	$	850,000	$	-	$	-
Prepaid expenses and other current assets
Forward foreign currency exchange contracts		2,732,000		-		2,732,000		-		-		-		-		-
Liabilities
Accounts payable and accrued liabilities
Short-term contingent consideration		2,608,000		-		-		2,608,000		2,190,000		-		-		2,190,000
Other current liabilities
Deferred compensation		1,508,000		1,508,000		-		-		850,000		850,000		-		-
Forward foreign currency exchange contracts		-		-		-		-		6,284,000		-		6,284,000		-
Other liabilities
Long-term contingent consideration		-		-		-		-		463,000		-		-		463,000

Assumptions Used to Determine Fair Value of Contingent Consideration

The assumptions used to determine the fair value is as follows:

	December 31, 2020
Risk free interest rate		0.10	%
Counter party rate		5.50	%
Expected volatility (1)		47.00	%
Weighted average cost of capital (1)		15.30	%

(1) The range for expected volatility was 44% to 50% and the range for the weighted average cost of capital was 13.5% to 15.5%.

Change in Warrant Liability Measured at Fair Value Recurring Basis Using Significant Unobservable Inputs (Level 3)

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,
Contingent Consideration	2020		2019		2020			2019
Beginning balance	$	2,588,000	$	4,851,000	$	2,653,000		$	4,721,000
Changes in revaluations of contingent consideration included in earnings		20,000		310,000		(45,000	)		440,000
Ending balance	$	2,608,000	$	5,161,000	$	2,608,000		$	5,161,000