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Significant Accounting Policies (Policies)
6 Months Ended
Sep. 30, 2017
Accounting Policies [Abstract]  
New Accounting Pronouncements, Policy [Policy Text Block]
In
May 2014,
Financial Accounting Standards Board, or FASB, issued a new standard on the recognition of revenue from contracts with customers, which includes a single set of rules and criteria for revenue recognition to be used across all industries. The revenue standard
’s core principle is built on the contract between a vendor and a customer for the provision of goods and services. It attempts to depict the exchange of rights and obligations between the parties in the pattern of revenue recognition based on the consideration to which the vendor is entitled. To accomplish this objective, the standard requires
five
basic steps: identify the contract with the customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract and recognize revenue when or as the entity satisfies a performance obligation. For public companies, this standard is effective for annual reporting periods beginning after
December 15, 2017,
including interim periods during the annual period. Early adoption is permitted for annual periods commencing after
December 15, 2016.
Two different transition methods are available: full retrospective and modified retrospective.
 
We expect to
adopt this guidance on a modified retrospective basis. We are currently evaluating the potential impact of this standard on our financial position and results of operations.
Based on our preliminary assessment, we believe the new standard will
not
have a material impact on our financial position and results of operations, as our revenue is primarily generated from the sale of finished, tangible products to customers. Sales predominantly contain a single delivery element and revenue is recognized at a single point in time when ownership, risks, and rewards transfer. We do
not
expect to change the manner or timing of recognizing revenue on a majority of our revenue transactions.
 
In
January 2016,
FASB issued authoritative guidance that modifies how entities measure equity investments and present changes in the fair value of financial liabilities. Under the new guidance, entities will have to measure equity investments that do
not
result in consolidation and are
not
accounted for under the equity method at fair value and recognize any changes in fair value in net income unless the investments qualify for the new practicality exception. A practicality exception will apply to those equity investments that do
not
have a readily determinable fair value and do
not
qualify for the practical expedient to estimate fair value under Accounting Standards Codification,
Fair Value Measurements
, or ASC
820,
and as such these investments
may
be measured at cost. This guidance is effective for financial statements issued for fiscal years beginning after
December 15, 2017,
and interim periods within those fiscal years. We are currently evaluating the impact of this standard on our consolidated financial statements.
 
In
February 2016,
FASB issued amended guidance for lease arrangements, which requires lessees to recognize the following for all leases with terms longer than
12
months: a lease liability, which is a lessee
’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, or ROU asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The amendment is effective for financial statements issued for fiscal years beginning after
December 15, 2018,
and interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of this amended guidance on our consolidated financial statements.
 
In
August 2016,
FASB issued amended guidance that provides clarification on cash flow classification related to
eight
specific issues, including debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, distributions received from equity method investees and proceeds from the settlement of insurance claims. The guidance will be effective for fiscal years beginning after
December 15, 2017,
including interim reporting periods within those fiscal years. Early adoption is permitted. The amended guidance should be applied retrospectively to all periods presented. If it is impracticable to apply the amendments retrospectively for some of the issues, the amendments for those issues would be applied prospectively as of the earliest date practicable. We do
not
expect this change to have a significant impact on our consolidated financial statements.
 
In
January 2017,
FASB issued amended guidance which narrows the existing definition of a business and provides a framework for evaluating whether a transaction should be accounted for as an acquisition (or disposal) of assets or a business. The definition of a business affects areas of accounting such as acquisitions, disposals and goodwill. The revised definition of a business under this guidance is expected to reduce the number of transactions that are accounted for as business combinations. The guidance is effective on a prospective basis for fiscal years beginning after
December 15, 2017,
and interim periods within those fiscal years, with early adoption permitted. The impact on our consolidated financial statements will depend on the facts and circumstances of any specific future transactions.