Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2014

The following tables set forth by level represent the fair value of the Company's cash and cash equivalents as of December 31, 2014.



	Fair Value of Cash and Cash Equivalents as of December 31, 2014
	Level 1	Level 2	Level 3	Total
Cash and cash equivalents	$48,005	—	—	$48,005
Money market funds (1)	—	$149,438	—	$149,438
Total cash and cash equivalents	$48,005	$149,438	—	$197,443

The following table set forth by levels represents the fair value of the Company's cash and cash equivalents as of March 31, 2014.



	Fair Value of Cash and Cash Equivalents as of March 31, 2014
	Level 1	Level 2	Level 3	Total
Cash and cash equivalents	$37,886	—	—	$37,886
Money market funds (1)	—	$222,108	—	$222,108
Total cash and cash equivalents	$37,886	$222,108	—	$259,994

(1) Level two cash and cash equivalents are invested in money market funds that are intended to maintain a stable net asset value of $1.00 per share by investing in liquid, high quality U.S. dollar-denominated money market instruments. Depending on our short-term liquidity needs, we make regular transfers between money market funds and other cash equivalents.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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