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Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2021

Summary of Assets and Liabilities Measured at Fair Value on 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, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Pension plan assets⁽¹⁾	$	—	$	15,751	$	—	$	15,751
Short-term investments⁽²⁾		—		15,000		—		15,000
Foreign currency forward contracts⁽³⁾	$	—	$	355	$	—	$	355
Total assets measured at fair value	$	—	$	31,106	$	—	$	31,106

	March 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Pension plan assets⁽¹⁾	$	—	$	12,436	$	—	$	12,436
Short-term investments⁽²⁾		116,871		—		—		116,871
Total assets measured at fair value	$	116,871	$	12,436	$	—	$	129,307

	March 31, 2020
	Level 1		Level 2		Level 3		Total
Liabilities:
Foreign currency forward contracts⁽³⁾	$	—	$	227	$	—	$	227
Total liabilities measured at fair value	$	—	$	227	$	—	$	227

(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 AXA LLP Foundation Suisse Romande collective investment fund.

(2)

The fair value of short-term investments has been determined based on the quoted value of the units held in the money market fund at the balance sheet date. The short-term investments as of March 31, 2021, relate to new investments made in a Treasury Money Market Fund. See Note 1, “Summary of Significant Accounting Policies – Short-term Investments”.

(3)	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.