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v3.22.2.2

TRADING AND AVAILABLE-FOR-SALE SECURITIES AT FAIR VALUE (Tables) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Sep. 30, 2022 | Sep. 30, 2022
Debt Securities, Trading, and Equity Securities, FV-NI [Abstract] |  |
Schedule of trading and available-for-sale securities | As of September 30, 2022, and March 31, 2022, trading and available-for-sale securities consisted of:
| September 30, 2022 |  | March 31, 2022
|  |  | (Recasted)
Corporate debt | $ | 666,137 |  |  | $ | 712,133 |
Non-U.S. sovereign debt | 634,056 |  |  | 360,570 |
Corporate equity | 32,522 |  |  | 72,354 |
U.S. sovereign debt | 23,883 |  |  | 10,435 |
Exchange traded notes | 2,946 |  |  | 2,884 |
Total trading securities | $ | 1,359,544 |  |  | $ | 1,158,377 |
| September 30, 2022 |  | March 31, 2022
|  |  | (Recasted)
Corporate debt | $ | 155,529 |  |  | $ | 145,836 |
Non-U.S. sovereign debt | 8,293 |  |  | 12,997 |
U.S. sovereign debt | 4,352 |  |  | 2,530 |
Corporate equity | 1 |  |  | 1 |
Total available-for-sale securities, at fair value | $ | 168,175 |  |  | $ | 161,364 |
Schedule of maturity of available for sale securities |  | The following tables present maturity analysis for available-for-sale securities as of September 30, 2022, and March 31, 2022:
| September 30, 2022
| Remaining contractual maturity of the agreements
| Up to 1 year |  | 1-5 years |  | 5-10 years |  | More than 10 years |  | Total
Non-US sovereign debt | — |  |  | 430 |  |  | 850 |  |  | 7,013 |  |  | 8,293 |
Corporate debt | 50,533 |  |  | 53,456 |  |  | 49,411 |  |  | 2,129 |  |  | 155,529 |
US sovereign debt | — |  |  | 1,389 |  |  | 1,694 |  |  | 1,269 |  |  | 4,352 |
Corporate equity | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Total available-for-sale securities, at fair value | $ | 50,533 |  |  | $ | 55,275 |  |  | $ | 51,955 |  |  | $ | 10,412 |  |  | $ | 168,175 |
| March 31, 2022
| Remaining contractual maturity of the agreements
| Up to 1 year |  | 1-5 years |  | 5-10 years |  | More than 10 years |  | Total
Non-US sovereign debt | 1,692 |  |  | 864 |  |  | 1,086 |  |  | 9,355 |  |  | 12,997 |
Corporate debt | 69,364 |  |  | 50,155 |  |  | 26,284 |  |  | 33 |  |  | 145,836 |
US sovereign debt | — |  |  | — |  |  | — |  |  | 2,530 |  |  | 2,530 |
Corporate equity | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Total available-for-sale securities, at fair value | $ | 71,056 |  |  | $ | 51,019 |  |  | $ | 27,370 |  |  | $ | 11,919 |  |  | $ | 161,364 |
Schedule of present securities assets at fair value | The following tables present securities assets in the Сondensed Сonsolidated Balance Sheets or disclosed in the Notes to the condensed consolidated financial statements at fair value on a recurring basis as of September 30, 2022, and March 31, 2022:
| Weighted Average Interest Rate |  | Total |  | Fair Value Measurements as of September 30, 2022 using
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Units
|  |  | (Level 1) |  | (Level 2) |  | (Level 3)
Corporate debt | 10.90 | % |  | $ | 666,137 |  |  | $ | 622,933 |  |  | $ | 42,689 |  |  | $ | 515 |
Non-U.S. sovereign debt | 10.90 | % |  | 634,056 |  |  | 421,301 |  |  | 209,418 |  |  | 3,337 |
Corporate equity | — | % |  | 32,522 |  |  | 19,986 |  |  | 12,213 |  |  | 323 |
U.S. sovereign debt | 4.32 | % |  | 23,883 |  |  | 20,997 |  |  | 2,886 |  |  | — |
Exchange traded notes | — | % |  | 2,946 |  |  | 2,465 |  |  | 481 |  |  | — |
Total trading securities |  |  | $ | 1,359,544 |  |  | $ | 1,087,682 |  |  | $ | 267,687 |  |  | $ | 4,175 |
Corporate debt | 12.20 | % |  | $ | 155,529 |  |  | $ | 147,582 |  |  | $ | 7,947 |  |  | $ | — |
Non-US sovereign debt | 5.90 | % |  | 8,293 |  |  | 7,661 |  |  | 632 |  |  | — |
US sovereign debt | 4.05 | % |  | 4,352 |  |  | 3,510 |  |  | 842 |  |  | — |
Corporate equity | — | % |  | 1 |  |  | — |  |  | — |  |  | 1 |
Total available-for-sale securities, at fair value |  |  | $ | 168,175 |  |  | $ | 158,753 |  |  | $ | 9,421 |  |  | $ | 1 |
| Weighted Average Interest Rate |  | Total |  | Fair Value Measurements as of March 31, 2022 (Recasted) using
|  |  | Quoted Prices in Active Markets for Identical Assets |  | Significant Other Observable Inputs |  | Significant Unobservable Inputs
|  |  | (Level 1) |  | (Level 2) |  | (Level 3)
Corporate debt | 9.09 | % |  | $ | 712,133 |  |  | $ | 711,538 |  |  | $ | — |  |  | $ | 595 |
Non-U.S. sovereign debt | 13.15 | % |  | 360,571 |  |  | 352,275 |  |  | — |  |  | 8,296 |
Corporate equity | — |  |  | 72,354 |  |  | 71,827 |  |  | 276 |  |  | 251 |
U.S. sovereign debt | 2.35 | % |  | 10,435 |  |  | 10,435 |  |  | — |  |  | — |
Exchange traded notes | — |  |  | 2,884 |  |  | 2,884 |  |  | — |  |  | — |
Total trading securities |  |  | $ | 1,158,377 |  |  | $ | 1,148,959 |  |  | $ | 276 |  |  | $ | 9,142 |
Corporate debt | 11.09 | % |  | $ | 145,836 |  |  | $ | 145,836 |  |  | $ | — |  |  | $ | — |
Non-U.S. sovereign debt | 5.51 | % |  | 12,997 |  |  | 12,551 |  |  | — |  |  | 446 |
U.S. sovereign debt | 2.17 | % |  | 2,530 |  |  | 2,530 |  |  | — |  |  | — |
Corporate equity | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Total available-for-sale securities, at fair value |  |  | $ | 161,364 |  |  | $ | 160,917 |  |  | $ | — |  |  | $ | 447 |
Schedule of valuation techniques and significant level 3 inputs | The tables below present the valuation techniques and significant level 3 inputs used in the valuation as of September 30, 2022, and March 31, 2022. The tables are not intended to be all inclusive, but instead capture the significant unobservable inputs relevant to determination of fair value.
Type |  | Valuation Technique |  | FV as of September 30, 2022 |  | Significant Unobservable Inputs |  | %
Non-US sovereign debt |  | DCF |  | $ | 3,337 |  |  | Discount rate |  | 48.8%
|  |  |  |  |  | Estimated number of years |  | 11 years
Corporate debt |  | DCF |  | 515 |  |  | Discount rate |  | 74.0%
|  |  |  |  |  | Estimated number of years |  | 3 months
Corporate equity |  | DCF |  | 323 |  |  | Discount rate |  | 58.8%
|  |  |  |  |  | Estimated number of years |  | 9 years
Total |  |  |  | $ | 4,175 |  |  |  |  |
Type |  | Valuation Technique |  | FV as of March 31, 2022 |  | Significant Unobservable Inputs |  | %
Non-US sovereign debt |  | DCF |  | $ | 7,524 |  |  | Discount rate |  | 69.0%
|  |  |  |  |  | Estimated number of years |  | 11 years
Non-US sovereign debt |  | DCF |  | 772 |  |  | Discount rate |  | 13.9%
|  |  |  |  |  | Estimated number of years |  | 1 year
Corporate debt |  | DCF |  | 595 |  |  | Discount rate |  | 45.0%
|  |  |  |  |  | Estimated number of years |  | 3 months
Corporate equity |  | DCF |  | 251 |  |  | Discount rate |  | 20.0%
|  |  |  |  |  | Estimated number of years |  | 9 years
Total |  |  |  | $ | 9,142 |  |  |  |  |
The following table provides a reconciliation of the beginning and ending balances for investments that use Level 3 inputs for the six months ended September 30, 2022, and the year ended March 31, 2022:
| Trading securities |  | Available-for-sale securities
Balance as of March 31, 2022 (Recasted) | $ | 9,142 |  |  | $ | 1 |
Purchase of investments that use Level 3 inputs | 1,750 |  |  | 446 |
Reclassification to level 2 | (1,267) |  |  | — |
Sale | (4,716) |  |  | — |
Revaluation of investments that use Level 3 inputs | (160) |  |  | — |
Translation difference | (574) |  |  | — |
Balance as of September 30, 2022 (Recasted) | $ | 4,175 |  |  | $ | 447 |
Balance as of March 31, 2021 (Recasted) | $ | 19,032 |  |  | $ | 1 |
Reclassification to level 3 | 682 |  |  | — |
Reclassification to level 1 | (18,370) |  |  | — |
Purchase of investments that use Level 3 inputs | 10,812 |  |  | — |
Revaluation of investments that use Level 3 inputs | (3,014) |  |  | — |
Balance as of March 31, 2022 (Recasted) | $ | 9,142 |  |  | $ | 1 |
Schedule of amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities | The table below presents the amortized cost, unrealized gains and losses accumulated in other comprehensive income, and fair value of available-for-sale securities as of September 30, 2022, and March 31, 2022:
| September 30, 2022 |  |
|  | Assets measured at amortized cost |  | Recognized impairment loss in Income Statement |  | Unrealized gain/(loss) accumulated in other comprehensive income/(loss) |  | Assets measured at fair value |  | Maturity Date
Corporate debt |  | $ | 152,826 |  |  | $ | (402) |  |  | $ | 3,105 |  |  | $ | 155,529 |  |  | 2022 - 2042
Non-US sovereign debt |  | 10,002 |  |  | — |  |  | (1,709) |  |  | 8,293 |  |  | 2024 - indefinite
U.S. sovereign debt |  | 5,035 |  |  | — |  |  | (683) |  |  | 4,352 |  |  | 2024 - 2044
Corporate equity |  | 1 |  |  | — |  |  | — |  |  | 1 |  |  | not applicable
Total available-for-sale securities, at fair value |  | $ | 167,864 |  |  | $ | (402) |  |  | $ | 713 |  |  | $ | 168,175 |  |  |
|  | March 31, 2022 (Recasted) |  |
|  | Assets measured at amortized cost |  | Unrealized gain/(loss) accumulated in other comprehensive income/(loss) |  | Assets measured at fair value |  | Maturity Date
Corporate debt |  | $ | 146,111 |  |  | $ | (275) |  |  | $ | 145,836 |  |  | 2022 - 2035
Non-U.S. sovereign debt |  | 13,784 |  |  | (787) |  |  | 12,997 |  |  | 2022 - indefinite
U.S. sovereign debt |  | 2,912 |  |  | (382) |  |  | 2,530 |  |  | 2044
Corporate equity |  | 1 |  |  | — |  |  | 1 |  |  | not applicable
Total available-for-sale securities, at fair value |  | $ | 162,808 |  |  | $ | (1,444) |  |  | $ | 161,364 |  |  |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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