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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 9 Months Ended
Dec. 31, 2016
Accounting Policies [Abstract]  
Estimated useful lives of Property and equipment
Depreciation expense is recorded using the straight-line method over the estimated useful lives of the respective assets as follows:
Computer equipment and software
3 - 5 years
Digital cinema projection systems
10 years
Machinery and equipment
3 - 10 years
Furniture and fixtures
3 - 6 years
Fair Value Measurements of financial assets
The following tables summarize the levels of fair value measurements of our financial assets and liabilities:
 
 
As of December 31, 2016
(in thousands)
 
Level 1
 
Level 2
 
Level 3
 
Total
Restricted cash
 
$
1,000

 
$
—

 
$
—

 
$
1,000


 
 
March 31, 2016
(in thousands)
 
Level 1
 
Level 2
 
Level 3
 
Total
Restricted cash
 
$
8,983

 
$
—

 
$
—

 
$
8,983

Interest rate derivatives
 
—

 
12

 
—

 
12

 
 
$
8,983

 
$
12

 
$
—

 
$
8,995
Employee stock-based compensation expense related to stock-based awards
Employee and director stock-based compensation expense from continuing operations related to our stock-based awards was as follows:

 
 
For the Three Months Ended December 31,
 
For the Nine Months Ended December 31,
(In thousands)
 
2016
 
2015
 
2016
 
2015
Direct operating
 
$
3

 
$
3

 
$
8

 
$
14

Selling, general and administrative
 
341

 
347

 
1,356

 
1,410

 
 
$
344

 
$
350

 
$
1,364

 
$
1,424
Assumptions used in Black-Scholes option valuation model for estimating fair value of options
We used the following assumptions in our Black-Scholes option valuation model for the periods in which there were stock option grants:
 
 
For the Three Months Ended December 31,
 
For the Nine Months Ended December 31,
Assumptions for Option Grants
 
2015
 
2015
Range of risk-free interest rates
 
1.4% - 1.7%

 
1.4% - 1.7%

Dividend yield
 
—

 
—

Expected life (years)
 
5

 
5

Range of expected volatilities
 
70.7% - 71.4%

 
70.6% - 71.4%