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Fair Value Measurements (Tables)

6 Months Ended

Sep. 30, 2021

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, 2021																March 31, 2021
						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		$	2,072,000			$	2,072,000			$	-			$	-			$	1,652,000			$	1,652,000			$	-			$	-
Prepaid expenses and other current assets
Forward foreign currency exchange contracts			-				-				-				-				1,429,000				-				1,429,000				-
Liabilities
Accrued liabilities
Short-term contingent consideration			980,000				-				-				980,000				910,000				-				-				910,000
Other current liabilities
Deferred compensation			2,072,000				2,072,000				-				-				1,652,000				1,652,000				-				-
Forward foreign currency exchange contracts			1,004,000				-				1,004,000				-				-				-				-				-

Assumptions Used to Determine Fair Value of Contingent Consideration

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

		September 30, 2021
Risk free interest rate			0.04	%
Counter party rate			2.93	%
Expected volatility			30-40	%
Weighted average cost of capital			12.5-15.0	%

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		2021				2020				2021				2020
Beginning balance		$	850,000			$	2,606,000			$	910,000			$	2,653,000
Changes in revaluations of contingent consideration included in earnings			130,000				(18,000	)			70,000				(65,000	)
Ending balance		$	980,000			$	2,588,000			$	980,000			$	2,588,000

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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- 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
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- 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)
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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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