XML 46 R35.htm IDEA: XBRL DOCUMENT v3.20.2

Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 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:

		September 30, 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		$	1,237,000			$	1,237,000			$	-			$	-			$	850,000			$	850,000			$	-			$	-
Liabilities
Accrued liabilities
Short-term contingent consideration			2,030,000				-				-				2,030,000				2,190,000				-				-				2,190,000
Other current liabilities
Deferred compensation			1,237,000				1,237,000				-				-				850,000				850,000				-				-
Forward foreign currency exchange contracts			1,085,000				-				1,085,000				-				6,284,000				-				6,284,000				-
Other liabilities
Long-term contingent consideration			558,000				-				-				558,000				463,000				-				-				463,000

Assumptions Used to Determine Fair Value of Contingent Consideration

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

		September 30, 2020
Risk free interest rate			0.10	%
Counter party rate			6.70	%
Probability			100.00	%

E&M Gross Profit Earn-out Consideration

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

		September 30, 2020
Risk free interest rate			0.12	%
Counter party rate			6.70	%
Expected volatility (1)			40.00	%
Weighted average cost of capital (1)			13.50	%

(1) The range for expected volatility was 35% to 45% and the range for the weighted average cost of capital was 13% to 14%.

Dixie Revenue Earn-out Consideration

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

		September 30, 2020
Risk free interest rate			0.10	%
Counter party rate			6.63	%
Revenue volatility (1)			4.50	%
Revenue discount rate (1)			2.00	%
Asset volatility (1)			30.00	%

(1) The range for revenue volatility was 3.5% to 5.5%, 1.5% to 2.5% for the revenue discount rate, and 25% to 35% for asset volatility.

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 September 30,								Six Months Ended September 30,
Contingent Consideration		2020				2019				2020				2019
Beginning balance		$	2,606,000			$	4,970,000			$	2,653,000			$	4,721,000
Changes in revaluations of contingent consideration included in earnings			(18,000	)			(119,000	)			(65,000	)			130,000
Ending balance		$	2,588,000			$	4,851,000			$	2,588,000			$	4,851,000

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