Fair Value Of Financial Assets And Liabilities (Tables)

12 Months Ended

Mar. 31, 2014

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

Assets and liabilities measured at fair value on a recurring basis at March 31, 2014 and 2013 are categorized in the tables below based on the lowest level of significant input to the valuation. During the periods presented, there were no transfers between fair value hierarchical levels.



	Balance at		Quoted prices in active markets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3
(In thousands)	March 31, 2014		Quoted prices in active markets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3
Assets:
Deferred compensation plan assets	$	16,387	$	16,387	$	—	$	—
Derivative assets - variable interest rate swap agreements	—		—		—		—
Total assets measured at fair value on a recurring basis	$	16,387	$	16,387	$	—	$	—

Liabilities:
Deferred compensation plan liabilities	$	16,387	$	16,387	$	—	$	—
Contingent consideration liabilities	323		—		—		323
Total liabilities measured at fair value on a recurring basis	$	16,710	$	16,387	$	—	$	323



	Balance at		Quoted prices in active markets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3
(In thousands)	March 31, 2013		Quoted prices in active markets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3
Assets:
Deferred compensation plan assets	$	13,631	$	13,631	$	—	$	—
Derivative assets - variable interest rate swap agreements	2,490		—		2,490		—
Total assets measured at fair value on a recurring basis	$	16,121	$	13,631	$	2,490	$	—

Liabilities:
Deferred compensation plan liabilities	$	13,631	$	13,631	$	—	$	—
Contingent consideration liabilities	3,632		—		—		3,632
Total liabilities measured at fair value on a recurring basis	$	17,263	$	13,631	$	—	$	3,632

Changes In Fair Value Of Recurring Measurements Using Significant Unobservable Inputs

Changes in the fair value of recurring fair value measurements using significant unobservable inputs (Level 3) for the years ended March 31, 2014 and 2013 were as follows (in thousands):



Balance at March 31, 2012	$	2,512
Contingent consideration liabilities recorded	1,750
Settlements made during the period	(669		)
Adjustments to fair value measurement	39
Balance at March 31, 2013	$	3,632
Contingent consideration liabilities recorded	—
Settlements made during the period	(1,841		)
Adjustments to fair value measurement	(1,468		)
Balance at March 31, 2014	$	323

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis

Certain assets and liabilities are measured at fair value on a nonrecurring basis in periods subsequent to initial recognition. Assets measured at fair value on a nonrecurring basis during the years ended March 31, 2013 and 2012 are categorized in the tables below based on the lowest level of significant input to the valuation. There were no liabilities measured at fair value on a nonrecurring basis during the years ended March 31, 2013 and 2012.



	Quoted prices in active markets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3		Total losses (year ended March 31, 2013
(In thousands)	Quoted prices in active markets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3		Total losses (year ended March 31, 2013
Assets:
Other intangible assets	$	—	$	—	$	535	$	1,729
Total assets measured at fair value on a non-recurring basis	$	—	$	—	$	535	$	1,729



	Quoted prices in active markets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3		Total losses (year ended March 31, 2012)
(In thousands)	Quoted prices in active markets Level 1		Significant other observable inputs Level 2		Significant unobservable inputs Level 3		Total losses (year ended March 31, 2012)
Assets:
Long-lived assets held and used	$	—	$	—	$	9,165	$	4,250
Total assets measured at fair value on a non-recurring basis	$	—	$	—	$	9,165	$	4,250

Fair Value Of Debt

The carrying value of debt, which is reported on the Company’s consolidated balance sheets, generally reflects the cash proceeds received upon its issuance, net of subsequent repayments, plus the impact of the Company’s fair value hedges as applicable. The fair values of the fixed rate notes disclosed in the following table were determined based on quoted prices from the broker/dealer market, observable market inputs for similarly termed treasury notes adjusted for the Company’s credit spread and inputs management believes a market participant would use in determining imputed interest for obligations without a stated interest rate (Level 2). The fair values of the revolving credit borrowings, securitized receivables and commercial paper approximate their carrying values.



	Carrying Value at		Fair Value at		Carrying Value at		Fair Value at
(In thousands)	March 31, 2014		March 31, 2014		March 31, 2013		March 31, 2013
Commercial paper	$	387,866	$	387,866	$	—	$	—
Trade receivables securitization	295,000		295,000		295,000		295,000
Revolving credit borrowings	62,286		62,286		44,077		44,077
2013 Notes	—		—		302,466		303,413
2014 Notes	399,952		407,092		399,856		421,582
2015 Notes	249,887		258,630		249,811		263,702
2016 Notes	249,848		259,257		249,778		262,954
2018 Notes	324,579		319,098		324,471		325,401
2020 Notes	274,748		265,600		274,706		274,432
2022 Notes	249,760		233,230		249,732		248,404
2018 Senior Subordinated Notes	—		—		215,446		229,381
Other long-term debt	1,036		1,136		2,475		2,603
Total debt	$	2,494,962	$	2,489,195	$	2,607,818	$	2,670,949

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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