XML 108 R25.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Other Investments
 6 Months Ended
Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]  
Other Investments
11.

Other Investments

The proceeds of the offering of TEUs were used to acquire TEUs of the Joint Venture that substantially mirror the terms of the TEUs included in the offering. Under these mirrored arrangements, the Joint Venture is required to make cash payments or to transfer LLC Units to the Company concurrent with any cash payments or issuance of shares by the Company pursuant to the terms of its TEUs. The Company accounts for these mirror arrangements as investments in debt and equity securities.

At September 30, 2019 and March 31, 2019, the Company’s investment in debt securities are classified as “available-for-sale” and its investment in forward purchase contracts are considered equity securities measured at fair value. Changes in unrealized gains and losses for the Company’s debt securities are recognized as adjustments to other comprehensive income (loss) while changes in unrealized gains and losses for the Company’s investment in forward purchase contracts are recognized as adjustments to pretax income (loss).

A summary of the Company’s other investments at September 30, 2019 and March 31, 2019 is summarized in the tables that follow.

 

     September 30, 2019  
            Unrealized Amounts         
     Amortized
Costs		      Gains      Losses      Fair Value  

Debt Securities (Level 2)

    $ 42,326      $ 1,571      $ —        $ 43,897  

Forward Purchase Contracts (Level 2)

    $ 232,929      $ —        $ (2,435 )       230,494  
           

 

 

  
            $ 274,391  

Amounts classified within current assets

               15,154  
           

 

 

  

Amounts classified within Other investments

             $ 259,237  
           

 

 

  

 

     March 31, 2019  
            Unrealized Amounts         
     Amortized
Costs		      Gains      Losses      Fair Value  

Debt Securities

    $ —        $ —        $ —        $ —    

Forward Purchase Contracts

    $ —        $ —        $ —          —    
           

 

 

  
              —    

Amounts classified within current assets

               —    
           

 

 

  

Amounts classified within Other investments

             $ —    
           

 

 

  

 

Scheduled maturities of investments in debt securities at September 30, 2019 were as follows:

 

     Amortized Cost      Fair Value  

Due in one year or less

    $ 15,154      $ 15,154  

Due after one year through five years

      27,172        28,742  

Due after five years through ten years

      —          —    

Due after ten years

      —          —    
  

 

 

     

 

 

  
   $ 42,326      $ 43,896  
  

 

 

     

 

 

  

The portion of unrealized gains and losses for each period related to equity securities still held at each reporting date is calculated as follows:

 

     Six Months Ended  
     September 30,  
     2019      2018  

Net gains and losses recognized during the period on equity securities

    $ (2,435 )     $ —    

Less: Net gains and losses recognized during the period on equity securities sold during the period

      —          —    
  

 

 

     

 

 

  

Unrealized gains and losses recognized during the reporting period on equity securities still held at the reporting date

    $ (2,435 )     $ —