Fair Value Measurements

12 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 4. Fair Value Measurements

Assets and liabilities measured and recorded at fair value on a recurring basis

The following table summarizes the Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy:

	March 31, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Pension plan assets (1)	$	—	$	4,455	$	—	$	4,455
Total assets measured at fair value	$	—	$	4,455	$	—	$	4,455
	March 31, 2016
	Level 1		Level 2		Level 3		Total
Liabilities:
Foreign currency forward contracts (2)	$	—	$	190	$	—	$	190
Fair value of share warrants		—		—		—		—
Total liabilities measured at fair value	$	—	$	190	$	—	$	190
	March 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Foreign currency forward contracts (2)	$	—	$	—	$	—	$	—
Total assets measured at fair value	$	—	$	—	$	—	$	—
	March 31, 2015
	Level 1		Level 2		Level 3		Total
Liabilities:
Foreign currency forward contracts (2)	$	199	$	—	$	—	$	199
Fair value of share warrants		31,011		—		—		31,011
Total liabilities measured at fair value	$	31,210	$	—	$	—	$	31,210

(1) The fair value of pension plan assets has been determined as the surrender value of the portfolio of active insured employees held within the Swiss Life collective investment fund.

(2) The fair value of foreign currency forward contracts has been determined by calculating the present value of future cash flows, estimated using market-based observable inputs including forward and spot exchange rates and interest rate curves obtained from third party market price quotations.

The change in the estimated fair value of ordinary and preference share warrant liabilities is summarized below:

March 31, 2014	$	421
Transfer of liability to shareholders' equity upon the conversion of the preference    share warrant to a warrant in respect of ordinary shares		(421	)
Issue of ordinary share warrants as part of the company's initial public offering		8,529
Change in fair value of ordinary share warrants		22,966
Exercise of warrants		(484	)
March 31, 2015	$	31,011
Change in fair value of ordinary share warrants		(15,857	)
Exercise and expiry of warrants		(15,154	)
March 31, 2016	$	—

The carrying amounts of cash and cash equivalents, trade accounts receivable and accounts payable reported in the Consolidated Balance Sheets approximate their respective fair values because of the short term nature of these accounts. The fair value of long-term debt approximates the recorded value.