FAIR VALUE MEASURMENT - Note 3

9 Months Ended

Dec. 31, 2014

Notes to Financial Statements

FAIR VALUE MEASURMENT - Note 3

3. FAIR VALUE MEASUREMENT

The following tables present the Company's fair value hierarchy for assets and liabilities measured at fair value on a recurring basis (in thousands):

		Quoted Prices in		Other		Significant
		Active Markets for		Observable		Unobservable		Balance at
		Identical Assets		Inputs		Inputs		December 31,
December 31, 2014		(Level 1)		(Level 2)		(Level 3)		2014
Cash equivalents:
Money market funds	$	16,821		-	$	-	$	16,821
Short-term investments:
Money market funds		1,871		-		-		1,871
Commercial paper		-		22,952		-		22,952
Corporate debt		-		71,915		-		71,915
Municipal securities		-		5,431		-		5,431
Asset backed securities		-		23,594		-		23,594
Mortgage backed securities		-		6,527		-		6,527
International government securities		-		802		-		802
Certificates of deposit		-		2,199		-		2,199
Total	$	18,692	$	133,420	$	-	$	152,112

		Quoted Prices in		Other		Significant
		Active Markets for		Observable		Unobservable		Balance at
		Identical Assets		Inputs		Inputs		March 31,
March 31, 2014		(Level 1)		(Level 2)		(Level 3)		2014
Cash equivalents:
Money market funds	$	32,611	$	-	$	-	$	32,611
Short-term investments:
Mutual funds		1,909		-		-		1,909
Commercial paper		-		30,379		-		30,379
Corporate debt		-		14,893		-		14,893
Long-term investments:
Corporate debt		-		48,724		-		48,724
Municipal securities		-		5,439		-		5,439
Asset backed securities		-		17,054		-		17,054
International government securities		-		804		-		804
Total	$	34,520	$	117,293	$	-	$	151,813