Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2019

Information about Financial Assets Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis as of December 31, 2019 and March 31, 2019 based on the three-tier fair value hierarchy (in thousands):


	Fair Value Measurements as of December 31, 2019
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Money market funds	$	101,431	$	—	$	—	$	101,431
Commercial paper	—		5,647		—		5,647


Short-term investments:
Certificates of deposit	—		30,066		—		30,066
Commercial paper	—		13,224		—		13,224
Corporate notes and bonds	—		48,421		—		48,421
U.S. treasury securities	456,340		—		—		456,340
U.S. government agencies	—		9,611		—		9,611
Restricted cash:
Money market funds	5,639		—		—		5,639
Total	$	563,410	$	106,969	$	—	$	670,379
Included in cash and cash equivalents							$	107,078
Included in short-term investments							$	557,662
Included in restricted cash							$	5,639

	Fair Value Measurements as of March 31, 2019
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Money market funds	$	133,239	$	—	$	—	$	133,239
Commercial paper	—		9,973		—		9,973


Short-term investments:
Certificates of deposit	—		24,726		—		24,726
Commercial paper	—		37,071		—		37,071
Corporate notes and bonds	—		27,259		—		27,259
U.S. treasury securities	402,091		—		—		402,091
U.S. government agencies	—		19,225		—		19,225
Restricted cash:
Money market funds	8,805		—		—		8,805
Total	$	544,135	$	118,254	$	—	$	662,389
Included in cash and cash equivalents							$	143,212
Included in short-term investments							$	510,372
Included in restricted cash							$	8,805

Classification of Available-for-Sale Short-Term Investments by Contractual Maturities

The following table classifies the Company’s available-for-sale short-term investments by contractual maturities as of December 31, 2019 and March 31, 2019 (in thousands):


	December 31, 2019		March 31, 2019
Due within one year	$	316,984	$	346,768
Due after one year and within three years	240,678		163,604
Total	$	557,662	$	510,372