XML 28 R11.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

FAIR VALUE MEASUREMENTS | 12 Months Ended
--- | ---
Mar. 31, 2024
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The accounting standard for fair value measurements provides a framework for measuring fair value, which is defined as the price that would be received for an asset or the exit price that would be paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants on the measurement date. The fair value hierarchy under this accounting standard requires an entity to maximize the use of observable inputs, where available. The following summarizes the three levels of inputs required: •Level 1: Quoted prices in active markets for identical assets and liabilities. •Level 2: Observable inputs other than quoted prices in active markets for identical assets and liabilities. •Level 3: Unobservable inputs in which little or no market activity exists, therefore requiring the Company to develop its own assumptions. The carrying amount of the Company’s financial instruments, which principally include cash and cash equivalents, trade accounts receivable, net, trade accounts payable, accrued payroll, and other accrued expenses, approximates fair value due to their short-term nature. When the Company makes short-term borrowings, the carrying amounts, which are considered Level 2 liabilities, approximate fair value based upon current rates and terms available to the Company for similar debt. The Company does not currently have any Level 3 assets or liabilities. Assets and liabilities that are measured on a recurring basis at fair value in the consolidated balance sheets are as follows:
| As of |  | Measured Using
| March 31, 2024 | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money-market funds | $ | 1,152,083 |  |  | $ | 1,152,083 |  |  | $ | — |  |  | $ | — |
Other assets: |  |  |  |  |  |  |
Non-qualified deferred compensation asset | 13,553 |  |  | 13,553 |  |  | — |  |  | — |
Total assets measured at fair value | $ | 1,165,636 |  |  | $ | 1,165,636 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Other accrued expenses: |  |  |  |  |  |  |
Non-qualified deferred compensation liability | $ | (408) |  |  | $ | (408) |  |  | $ | — |  |  | $ | — |
Other long-term liabilities: |  |  |  |  |  |  |
Non-qualified deferred compensation liability | (16,229) |  |  | (16,229) |  |  | — |  |  | — |
Total liabilities measured at fair value | $ | (16,637) |  |  | $ | (16,637) |  |  | $ | — |  |  | $ | — |
| As of |  | Measured Using
| March 31, 2023 | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money-market funds | $ | 675,468 |  |  | $ | 675,468 |  |  | $ | — |  |  | $ | — |
Other assets: |  |  |  |  |  |  |
Non-qualified deferred compensation asset | 8,399 |  |  | 8,399 |  |  | — |  |  | — |
Total assets measured at fair value | $ | 683,867 |  |  | $ | 683,867 |  |  | $ | — |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |
Other accrued expenses: |  |  |  |  |  |  |
Non-qualified deferred compensation liability | $ | (737) |  |  | $ | (737) |  |  | $ | — |  |  | $ | — |
Other long-term liabilities: |  |  |  |  |  |  |
Non-qualified deferred compensation liability | (10,589) |  |  | (10,589) |  |  | — |  |  | — |
Total liabilities measured at fair value | $ | (11,326) |  |  | $ | (11,326) |  |  | $ | — |  |  | $ | — |
The Company’s non-financial assets, such as other long-lived assets and definite-lived intangible assets, which include operating lease assets, machinery and equipment, leasehold improvements, definite-lived trademarks; as well as indefinite-lived intangible assets and goodwill, are not required to be carried at fair value on a recurring basis and are reported at carrying value. Instead, these assets are tested for impairment annually, or when an event occurs or changes in circumstances indicate the carrying value may not be recoverable. When determining fair value, Level 3 measurements are used for the estimates and assumptions, including undiscounted future cash flows expected to be generated by the asset groups based upon historical experience, expected market conditions, as well and management’s plans.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration