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FAIR VALUE MEASURESMENTS - Note 2 | 12 Months Ended
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Mar. 31, 2018
Cash and Cash Equivalents [Abstract] |
FAIR VALUE MEASURESMENTS - Note 2 | 2. FAIR VALUE MEASURESMENTS Cash, cash equivalents, available-for-sale investments, and contingent consideration were (in thousands):
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |  | Cash and |  |  |
|  |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |  |  | Cash |  |  | Short-Term
As of March 31, 2018 |  |  | Costs |  |  | Gain |  |  | Loss |  |  | Fair Value |  |  | Equivalents |  |  | Investments
Cash |  | $ | 16,499 |  | $ | - |  | $ | - |  | $ | 16,499 |  | $ | 16,499 |  | $ | -
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  |  | 15,204 |  |  | - |  |  | - |  |  | 15,204 |  |  | 15,204 |  |  | -
Subtotal |  |  | 31,703 |  |  | - |  |  | - |  |  | 31,703 |  |  | 31,703 |  |  | -
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | 13,254 |  |  | - |  |  | (8) |  |  | 13,246 |  |  | - |  |  | 13,246
Corporate debt |  |  | 70,631 |  |  | 6 |  |  | (296) |  |  | 70,341 |  |  | - |  |  | 70,341
Municipal securities |  |  | 3,385 |  |  | 3 |  |  | (1) |  |  | 3,387 |  |  | - |  |  | 3,387
Asset backed securities |  |  | 27,063 |  |  | 1 |  |  | (119) |  |  | 26,945 |  |  | - |  |  | 26,945
Agency bond |  |  | 4,183 |  |  | - |  |  | (35) |  |  | 4,148 |  |  | - |  |  | 4,148
International government securities |  |  | 2,497 |  |  | - |  |  | (5) |  |  | 2,492 |  |  | - |  |  | 2,492
Subtotal |  |  | 121,013 |  |  | 10 |  |  | (464) |  |  | 120,559 |  |  | - |  |  | 120,559
Total assets |  | $ | 152,716 |  | $ | 10 |  | $ | (464) |  | $ | 152,262 |  | $ | 31,703 |  | $ | 120,559
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |  | Cash and |  |  |
|  |  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |  |  | Cash |  |  | Short-Term
As of March 31, 2017 |  |  | Costs |  |  | Gain |  |  | Loss |  |  | Fair Value |  |  | Equivalents |  |  | Investments
Cash |  | $ | 29,122 |  | $ | - |  | $ | - |  | $ | 29,122 |  | $ | 29,122 |  | $ | -
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  |  | 11,908 |  |  | - |  |  | - |  |  | 11,908 |  |  | 11,908 |  |  | -
Mutual funds |  |  | 2,000 |  |  | - |  |  | (194) |  |  | 1,806 |  |  | - |  |  | 1,806
Subtotal |  |  | 43,030 |  |  | - |  |  | (194) |  |  | 42,836 |  |  | 41,030 |  |  | 1,806
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | 19,144 |  |  | 8 |  |  | - |  |  | 19,152 |  |  | - |  |  | 19,152
Corporate debt |  |  | 83,995 |  |  | 61 |  |  | (58) |  |  | 83,998 |  |  | - |  |  | 83,998
Asset backed securities |  |  | 26,906 |  |  | 4 |  |  | (22) |  |  | 26,888 |  |  | - |  |  | 26,888
Mortgage backed securities |  |  | 116 |  |  | - |  |  | (1) |  |  | 115 |  |  | - |  |  | 115
Agency bond |  |  | 2,000 |  |  | - |  |  | - |  |  | 2,000 |  |  | - |  |  | 2,000
Subtotal |  |  | 132,161 |  |  | 73 |  |  | (81) |  |  | 132,153 |  |  | - |  |  | 132,153
Total assets |  | $ | 175,191 |  | $ | 73 |  | $ | (275) |  | $ | 174,989 |  | $ | 41,030 |  | $ | 133,959
Level 3: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | - |  | $ | - |  | $ | - |  | $ | 148 |  | $ | - |  | $ | -
Total liabilities |  | $ | - |  | $ | - |  | $ | - |  | $ | 148 |  | $ | - |  | $ | -
Contractual maturities of investments as of March 31, 2018 are set forth below (in thousands):
|  |  | Estimated
|  |  | Fair Value
Due within one year |  | $ | 69,721
Due after one year |  |  | 50,838
Total |  | $ | 120,559
Contingent Consideration and Escrow Liability The Company's contingent consideration liability, included in other accrued liabilities on the consolidated balance sheets as of March 31, 2017, was associated with the Quality Software Corporation (QSC) acquisition made in the first quarter of fiscal year 2016. This contingent liability was classified as level 3 within the fair value hierarchy. The remaining liability of $0.1 million was settled and paid during the year ended March 31, 2018.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
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