Fair Value Measurements

6 Months Ended

Sep. 30, 2011

Fair Value Measurements [Abstract]

Fair Value Measurements

2. Fair Value Measurements

The following tables sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis at September 30, 2011 and March 31, 2011:

			Quoted Prices
			in Active		Significant
			Markets for		Other
	Balance at		Identical		Observable		Unobservable
	September 30,		Assets		Inputs		Inputs
	2011		(Level 1)		(Level 2)		(Level 3)
ASSETS
Cash and cash equivalents (1)	$	125,775	$	125,775	$	—	$	—
Restricted cash		2,848		2,848		—		—
Marketable securities (2)		1,098		1,098		—		—
	$	129,721	$	129,721	$	—	$	—
LIABILITIES
Contingent consideration related to acquisitions	$	3,771	$	—	$	—	$	3,771
	$	3,771	$	—	$	—	$	3,771

			Quoted Prices
			in Active		Significant
			Markets for		Other
	Balance at		Identical		Observable		Unobservable
	March 31,		Assets		Inputs		Inputs
	2011		(Level 1)		(Level 2)		(Level 3)
ASSETS
Cash and cash equivalents (1)	$	116,617	$	116,617	$	—	$	—
Restricted cash		3,787		3,787		—		—
Marketable securities (2)		1,120		1,120		—		—
	$	121,524	$	121,524	$	—	$	—
LIABILITIES
Contingent consideration related to acquisitions	$	13,658	$	—	$	12,743	$	915
	$	13,658	$	—	$	12,743	$	915

(1)	Cash and cash equivalents consists of money market funds and certificates of deposit.
(2)	Marketable securities consists of municipal fixed-income municipal securities.

The Company’s contingent consideration liability is accounted for at fair value on a recurring basis and is adjusted to fair value when the carrying value differs from fair value. The categorization of the framework used to measure fair value of the contingent consideration liability is considered Level 3 due to the subjective nature of the unobservable inputs used. The fair values of the contingent consideration liability for NextGen IS, IntraNexus, and CQI were estimated based on the probability of achieving certain business milestones and management’s forecast of expected revenues. See Note 3.

The following table presents activity in the Company’s financial assets and liabilities measured at fair value using significant unobservable inputs (Level 3), as of and for the six months ended September 30, 2011:

	Total
	Liabilities
Balance at April 1, 2011	$	915
Acquisition (Note 3)		3,146
Earnout payments		(290	)
Fair Value Adjustments		—
Balance at September 30, 2011	$	3,771

Non-Recurring Fair Value Measurements

The Company has certain assets, including goodwill and other intangible assets, which are measured at fair value on a non-recurring basis and are adjusted to fair value only if an impairment charge is recognized. The categorization of the framework used to measure fair value of the assets is considered Level 3 due to the subjective nature of the unobservable inputs used. During the six months ended September 30, 2011, there were no adjustments to fair value of such assets, except for the intangible assets acquired from CQI as discussed below in Note 3.