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FAIR VALUE MEASUREMENTS | 3 Months Ended
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Jun. 30, 2019
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS Cash, cash equivalents, and available-for-sale investments (in thousands):
| Amortized |  | Gross Unrealized |  | Gross Unrealized |  | Estimated |  | Cash and Cash |  | Short-Term |  | Long-Term
As of June 30, 2019 | Costs |  | Gain |  | Loss |  | Fair Value |  | Equivalents |  | Investments |  | Investments
Cash | $ | 23,533 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,533 |  |  | $ | 23,533 |  |  | $ | — |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds | 240,905 |  |  | — |  |  | — |  |  | 240,905 |  |  | 240,905 |  |  | — |  |  | — |
Treasury securities | 2,910 |  |  | 2 |  |  | — |  |  | 2,912 |  |  | — |  |  | — |  |  | 2,912 |
Subtotal | 267,348 |  |  | 2 |  |  | — |  |  | 267,350 |  |  | 264,438 |  |  | — |  |  | 2,912 |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds | 40,128 |  |  | 122 |  |  | (3 | ) |  | 40,247 |  |  | — |  |  | 23,613 |  |  | 16,634 |
Commercial paper | 6,176 |  |  | — |  |  | (2 | ) |  | 6,174 |  |  | 4,587 |  |  | 1,587 |  |  | — |
Municipal securities | 2,098 |  |  | 23 |  |  | — |  |  | 2,121 |  |  | — |  |  | — |  |  | 2,121 |
Agency bond | 2,289 |  |  | — |  |  | (3 | ) |  | 2,286 |  |  | — |  |  | 2,286 |  |  | — |
Subtotal | 50,691 |  |  | 145 |  |  | (8 | ) |  | 50,828 |  |  | 4,587 |  |  | 27,486 |  |  | 18,755 |
Total assets | $ | 318,039 |  |  | $ | 147 |  |  | $ | (8 | ) |  | $ | 318,178 |  |  | $ | 269,025 |  |  | $ | 27,486 |  |  | $ | 21,667 |
|  | Amortized |  | Gross Unrealized |  | Gross Unrealized |  | Estimated |  | Cash and Cash |  | Short-Term
As of March 31, 2019 |  | Costs |  | Gain |  | Loss |  | Fair Value |  | Equivalents |  | Investments
Cash |  | $ | 25,364 |  |  | $ | — |  |  | $ | — |  |  | $ | 25,364 |  |  | $ | 25,364 |  |  | $ | — |
Level 1: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | 251,219 |  |  | — |  |  | — |  |  | 251,219 |  |  | 251,219 |  |  | — |
Subtotal |  | 276,583 |  |  | — |  |  | — |  |  | 276,583 |  |  | 276,583 |  |  | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt |  | 46,516 |  |  | 51 |  |  | (29 | ) |  | 46,538 |  |  | — |  |  | 46,538 |
Municipal securities |  | 5,511 |  |  | 17 |  |  | — |  |  | 5,528 |  |  | — |  |  | 5,528 |
Asset backed securities |  | 13,596 |  |  | 9 |  |  | (17 | ) |  | 13,588 |  |  | — |  |  | 13,588 |
Agency bond |  | 4,260 |  |  | — |  |  | (15 | ) |  | 4,245 |  |  | — |  |  | 4,245 |
Subtotal |  | 69,883 |  |  | 77 |  |  | (61 | ) |  | 69,899 |  |  | — |  |  | 69,899 |
Total assets |  | $ | 346,466 |  |  | $ | 77 |  |  | $ | (61 | ) |  | $ | 346,482 |  |  | $ | 276,583 |  |  | $ | 69,899 |
Contractual maturities of investments as of June 30, 2019 are set forth below (in thousands):
| Estimated
| Fair Value
Due within one year | $ | 27,486 |
Due after one year | 21,667 |
Total | $ | 49,153 |
Historically, the Company had maintained all investments as short-term investments on its balance sheet, as the Company could liquidate these investments at any time and did not limit its liquidation of investments by contractual maturity date. Given the recent issuance of the convertible senior note, and the associated increased cash, cash equivalents and investment balances. The Company expects to hold certain investments for at least 12-months from the reporting date and will record these investments in either short-term or long-term investments in alignment with the contractual maturity dates. As of June 30, 2019, the estimated fair value of the Company's outstanding convertible senior notes (the Notes) was $219.2 million. The fair value of the Notes was determined based on the closing price for the Notes on the last trading day of the reporting period and is considered as Level 2 in the fair value hierarchy.

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