XML 74 R11.htm IDEA: XBRL DOCUMENT v2.4.1.9
Veloce
12 Months Ended
Mar. 31, 2015
Variable Interest Entity, Measure of Activity [Abstract]  
Veloce
Veloce

On June 20, 2012, the Company completed its acquisition of Veloce. Veloce has been developing specific ARM-based technology for the Company. The total purchase consideration for Veloce was $178.5 million based on the benchmarks achieved during product simulations. For accounting purposes, the costs incurred in connection with the development milestones relating to Veloce are considered compensatory and are recognized as R&D expense in the Consolidated Statement of Operations. Veloce completed all three performance milestones relating to the project as of March 31, 2014 and the total consideration relating to the three performance milestones, in the amount of $178.5 million, has been recognized as R&D expense as of March 31, 2015. During the fiscal years ended March 31, 2015 and 2014, as part of the above arrangement, the Company paid $9.2 million and $63.7 million, respectively, in cash and issued 1.1 million shares and 6.7 million shares, respectively, valued at $5.6 million and $57.3 million, respectively. Former Veloce equity holders subject to vesting requirements will receive their distribution upon satisfaction of such vesting requirements.
Total R&D expenses recognized related to Veloce were $9.2 million and $42.7 million during the fiscal years ended March 31, 2015 and 2014, respectively. R&D expenses related to Veloce of $9.2 million recognized during the fiscal year ended March 31, 2015 is as a result of the distribution of the remaining 0.6 million Unallocated Veloce Units (Veloce stock equivalents that had not yet been allocated to individuals). Veloce consideration that has been accrued as of March 31, 2015, is classified as long-term if payments of the consideration are expected to occur beyond a 12 month period.