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Fair Value Measurements (Tables) | 3 Months Ended
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Jun. 30, 2024
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:
|  | June 30, 2024 |  |  | March 31, 2024 |
|  |  |  |  | Fair Value Measurements |  |  |  |  |  | Fair Value Measurements |
|  |  |  |  | Using Inputs Considered as |  |  |  |  |  | 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 |  | $ | 1,887,000 |  |  | $ | 1,887,000 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,837,000 |  |  | $ | 1,837,000 |  |  | $ | - |  |  | $ | - |
Prepaid expenses and other current assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Forward foreign currency exchange contracts |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 2,516,000 |  |  |  | - |  |  |  | 2,516,000 |  |  |  | - |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deferred compensation |  |  | 1,887,000 |  |  |  | 1,887,000 |  |  |  | - |  |  |  | - |  |  |  | 1,837,000 |  |  |  | 1,837,000 |  |  |  | - |  |  |  | - |
Forward foreign currency exchange contracts |  |  | 2,853,000 |  |  |  | - |  |  |  | 2,853,000 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Convertible notes, related party |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Compound Net Derivative Liability |  |  | 4,830,000 |  |  |  | - |  |  |  | - |  |  |  | 4,830,000 |  |  |  | 7,410,000 |  |  |  | - |  |  |  | - |  |  |  | 7,410,000 |
Fair Value Assumptions | The following assumptions were used to determine the fair value of the Compound Net Derivative Liability:
|  | June 30, 2024 |  |  | March 31, 2024 |
Risk free interest rate |  |  | 4.41 | % |  |  | 4.36 | %
Cost of equity |  |  | 22.90 | % |  |  | 23.20 | %
Weighted average cost of capital |  |  | 13.90 | % |  |  | 14.90 | %
Expected volatility of MPA common stock |  |  | 50.00 | % |  |  | 50.00 | %
EBITDA volatility |  |  | 40.00 | % |  |  | 40.00 | %
Activity for Level 3 Fair Value Measurements | The following summarizes the activity for Level 3 fair value measurements:
|  | Three Months Ended |
|  | June 30, |
|  | 2024 |  |  | 2023 |
Beginning balance |  | $ | 7,410,000 |  |  | $ | 8,430,000 |
Changes in fair value of Compound Net Derivative Liability included in earnings |  |  | (2,580,000 | ) |  |  | 140,000 |
Ending balance |  | $ | 4,830,000 |  |  | $ | 8,570,000 |

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- 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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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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 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-3 + Details
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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 -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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