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Fair Value Measurements | 9 Months Ended
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Dec. 31, 2019
Financial Instruments, Owned, at Fair Value [Abstract] |
Fair Value Measurements | Fair Value Measurements Fair Value Measurements The Company considers fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The Company utilizes the following three-level fair value hierarchy to establish the priorities of the inputs used to measure fair value: •Level 1 — Quoted prices in active markets for identical assets or liabilities. •Level 2 — Observable inputs other than quoted market prices included in Level 1, such as: quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. •Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The following table presents the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis, excluding assets related to the Company’s defined benefit pension plans, classified by the level within the fair value hierarchy (in thousands):
|  | December 31, 2019 |  | March 31, 2019
|  | Level 1 |  | Level 2 |  | Level 3 |  | Level 1 |  | Level 2 |  | Level 3
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 528,446 |  |  | $ | — |  |  | $ | — |  |  | $ | 496,434 |  |  | $ | — |  |  | $ | — |
Trading investments for deferred compensation plan included in other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | 4,460 |  |  | — |  |  | — |  |  | 4,080 |  |  | — |  |  | — |
Mutual funds |  | 19,336 |  |  | — |  |  | — |  |  | 16,283 |  |  | — |  |  | — |
Total of trading investments for deferred compensation plan |  | $ | 23,796 |  |  | $ | — |  |  | $ | — |  |  | $ | 20,363 |  |  | $ | — |  |  | $ | — |
Currency exchange derivative assets included in other current assets |  | $ | — |  |  | $ | 118 |  |  | $ | — |  |  | $ | — |  |  | $ | 455 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration for business acquisition included in accrued and other current liabilities (Note 2) |  | $ | — |  |  | $ | — |  |  | $ | 37 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Currency exchange derivative liabilities included in accrued and other current liabilities |  | $ | — |  |  | $ | 695 |  |  | $ | — |  |  | $ | — |  |  | $ | 36 |  |  | $ | — |
Investment Securities The marketable securities for the Company's deferred compensation plan were recorded at a fair value of $23.8 million and $20.4 million as of December 31, 2019 and March 31, 2019, respectively, based on quoted market prices. Quoted market prices are observable inputs that are classified as Level 1 within the fair value hierarchy. Unrealized gains (losses) related to trading securities for the three and nine months ended December 31, 2019 and 2018 were not material and are included in other income (expense), net in the Company's condensed consolidated statements of operations. Contingent Consideration for Business Acquisition The contingent consideration for business acquisition arising from the Streamlabs Acquisition (see "Note 2 - Business Acquisition" to the condensed consolidated financial statements for more information) represents the future potential earn-out payments of $29.0 million payable in stock only upon the achievement of net revenues for the period beginning on January 1, 2020 and ending on June 30, 2020. The fair value of the earn-out as of the Acquisition Date was $0.04 million which was determined by using a Black-Scholes-Merton option-pricing valuation model that includes significant assumptions and unobservable inputs such as the projected revenues of Streamlabs over the earn-out period and the probability of the earn-out threshold being met. Actual results that differ from the assumptions used and any changes to the significant assumptions and unobservable inputs used could have a material impact on future results of operations. Actual payment of contingent consideration in the future could be different from the current fair value of the contingent consideration. The fair value of the contingent consideration is remeasured at each reporting period based on the inputs on the date of remeasurement. The fair value of the earn-out was $0.04 million as of December 31, 2019. Equity Method Investments The Company has certain non-marketable investments included in other assets in the Company's condensed consolidated balance sheets that are accounted for under the equity method of accounting, with a carrying value of $7.0 million and $6.6 million as of December 31, 2019 and March 31, 2019, respectively. Assets Measured at Fair Value on a Nonrecurring Basis Financial Assets. The Company has certain investments without readily determinable fair values due to the absence of quoted market prices, the inherent lack of liquidity, and the fact that inputs used to measure fair value are unobservable and require management's judgment. When certain events or circumstances indicate that impairment may exist, the Company revalues the investments using various assumptions, including the financial metrics and ratios of comparable public companies. The carrying value is also adjusted for observable price changes with a same or similar security from the same issuer. The amount of these investments included in other assets as of December 31, 2019 and March 31, 2019 was $9.5 million. There was no impairment of these assets during the three and nine months ended December 31, 2019 or 2018. Non-Financial Assets. The Company’s non-financial assets, such as intangible assets and property, plant and equipment, are recorded at fair value only upon initial recognition or if an impairment is recognized. There was no impairment of these assets during the three and nine months ended December 31, 2019 or 2018.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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