XML 63 R44.htm IDEA: XBRL DOCUMENT v3.20.1

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2020

Fair Value Measurements [Abstract]

Financial Assets and Liabilities Measured at Fair Value Recurring Basis

The following sets forth by level within the fair value hierarchy, the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis according to the valuation techniques the Company used to determine their fair values at:

						March 31, 2020																March 31, 2019
						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		$	850,000			$	850,000			$	-			$	-			$	3,273,000			$	3,273,000			$	-			$	-
Prepaid expenses and other current assets
Forward foreign currency exchange contracts			-				-				-				-				207,000				-				207,000				-
Liabilities
Accrued liabilities
Short-term contingent consideration			2,190,000				-				-				2,190,000				2,816,000				-				-				2,816,000
Other current liabilities
Deferred compensation			850,000				850,000				-				-				3,273,000				3,273,000				-				-
Forward foreign currency exchange contracts			6,284,000				-				6,284,000				-				-				-				-				-
Other liabilities
Long-term contingent consideration			463,000				-				-				463,000				1,905,000				-				-				1,905,000

Assumptions Used to Determine Fair Value of Contingent Consideration

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

		March 31, 2020
Risk free interest rate			0.16	%
Counter party rate			12.16	%
Probability			100.00	%

E&M Gross Profit Earn-out Consideration

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

		March 31, 2020				March 31, 2019
Risk free interest rate			0.22	%			2.23	%
Counter party rate			12.22	%			6.23	%
Expected volatility			31.00	%			29.00	%
Weighted average cost of capital			13.75	%			16.00	%

Dixie Revenue Earn-out Consideration

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

		March 31, 2020				March 31, 2019
Risk free interest rate			0.16	%			2.58	%
Counter party rate			15.16	%			5.03	%
Revenue discount rate			2.50	%			6.50	%
Expected volatility			33.50	%			29.00	%
Revenue volatility			6.50	%			8.50	%

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:

		Years Ended March 31,
		2020				2019
		Contingent Consideration				Contingent Consideration
Beginning balance		$	4,721,000			$	-
Newly issued			-				4,400,000
Changes in revaluation of contingent consideration included in earnings			(113,000	)			321,000
Exercises/settlements (1)			(1,955,000	)			-
Ending balance		$	2,653,000			$	4,721,000

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

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

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

+ References

Reference 1: 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=117815213&loc=d3e19207-110258

Reference 2: 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=117815213&loc=d3e19279-110258

+ Details

Name:	us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration