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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Jun. 30, 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 June 30, 2016
(in thousands)
 
Level 1
 
Level 2
 
Level 3
 
Total
Restricted cash
 
$
8,983

 
$

 
$

 
$
8,983

Interest rate derivatives
 

 
3

 

 
3

 
 
$
8,983

 
$
3

 
$

 
$
8,986

 
 
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



Schedule of Goodwill

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 June 30,
(In thousands)
 
2016
 
2015
Direct operating
 
$
3

 
$
6

Selling, general and administrative
 
275

 
666

 
 
$
278

 
$
672

Assumptions used in Black-Scholes option valuation model for estimating fair value of options
We estimated the fair value of stock options at the date of each grant using a Black-Scholes option valuation model with the following assumptions:
 
 
For the Three Months Ended June 30,
Assumptions for Option Grants
 
2016

2015
Range of risk-free interest rates
 
 1.2 - 1.3%

 
1.4 - 1.7%

Dividend yield
 

 

Expected life (years)
 
5

 
5

Range of expected volatilities
 
 72.5 - 73.4%

 
70.6 - 70.9%