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Financial Instruments (Tables)

6 Months Ended

Sep. 30, 2011

Input levels and valuation techniques for determination of fair values of Financial Instruments


	Fair Value Measurements at Reporting Date Using
				Quoted Prices in Active					Significant
				Markets for Identical		Significant Other			Unobservable
				Assets		Observable Inputs			Inputs		Valuation
September 30, 2011	Total			(Level 1)		(Level 2)			(Level 3)		Technique
	(In millions)
Assets
Cash equivalents
Money-market funds	$	503.1		$	503.1	$	—		$	—		A
Certificates of deposit		61.5			61.5		—			—		A
Short-term and long-term investments
United States Treasury securities		50.0			50.0		—			—		A
Auction rate securities		25.6			—		—			25.6		B
Mutual funds		17.2			17.2		—			—		A
Foreign currency forward contracts		11.8			—		11.8			—		A

Total	$	669.2		$	631.8	$	11.8		$	25.6

Liabilities
Foreign currency forward contracts	$	(8.6	)	$	—	$	(8.6	)	$	—		A

Total	$	(8.6	)	$	—	$	(8.6	)	$	—

Summary of activity in Level 3 financial instruments


	Quarter Ended								Six Months Ended
	September 30, 2011								September 30, 2011
	Auction								Auction
	Rate			Put					Rate			Put
	Securities			Option		Total			Securities			Option		Total
	(In millions)
Balance at the beginning of the period	$	26.8		$	—	$	26.8		$	27.2		$	—	$	27.2
Redemption of auction rate securities		(0.2	)		—		(0.2	)		(0.4	)		—		(0.4	)
Change in unrealized gain (loss) included in other comprehensive income		(1.0	)		—		(1.0	)		(1.2	)		—		(1.2	)

Balance at the end of the period	$	25.6		$	—	$	25.6		$	25.6		$	—	$	25.6


	Quarter Ended									Six Months Ended
	September 30, 2010									September 30, 2010
	Auction									Auction
	Rate			Put						Rate			Put
	Securities			Option			Total			Securities			Option			Total
	(In millions)
Balance at the beginning of the period	$	45.2		$	0.9		$	46.1		$	60.5		$	1.1		$	61.6
Redemption of auction rate securities		(11.4	)		—			(11.4	)		(27.5	)		—			(27.5	)
Change in unrealized gain (loss) included in interest and other income, net		0.9			(0.9	)		—			1.1			(1.1	)		—
Change in unrealized gain (loss) included in other comprehensive income		(0.8	)		—			(0.8	)		(0.2	)		—			(0.2	)

Balance at the end of the period	$	33.9		$	—		$	33.9		$	33.9		$	—		$	33.9

Components of C&C equivalents and Investments


	September 30, 2011						March 31, 2011
	Cash and						Cash and
	Cash		Short-term		Long-term		Cash		Short-term		Long-term
	Equivalents		Investments		Investments		Equivalents		Investments		Investments
	(In millions)
Measured at fair value:
Available-for-sale
United States Treasury securities	$	—	$	30.9	$	19.1	$	525.0	$	27.8	$	22.1
Certificates of deposit		61.5		—		—		38.4		—		—
Auction rate securities		—		—		25.6		—		—		27.2
Trading
Mutual funds		—		—		17.2		—		—		18.5

Total debt and equity investments measured at fair value		61.5		30.9		61.9		563.4		27.8		67.8


Cash on hand		895.1		—		—		412.8		—		—
Money-market funds		503.1		—		—		684.7		—		—

Total cash, cash equivalents and investments	$	1,459.7	$	30.9	$	61.9	$	1,660.9	$	27.8	$	67.8

Amounts included in accumulated other comprehensive income from available- for-sale securities (pre-tax):
Unrealized losses*	$	—	$	—	$	3.8	$	—	$	—	$	2.6


*		The unrealized losses on available-for-sale securities at September 30, 2011 and March 31, 2011 relate to the auction rate securities.

Maturities of available for sale investments in debt


			Fair
	Cost		Value
	(In millions)
Due in one year or less	$	92.4	$	92.4
Due between one and two years		19.1		19.1
Due after ten years		29.4		25.6

Total	$	140.9	$	137.1

Notional amounts at contract exchange rates of foreign currency forward contracts


	Notional Amount
	September 30,		March 31,
	2011		2011
	(In millions)
Foreign Currency Forward Contracts (receive United States dollar/pay foreign currency)

Euro	$	140.7	$	158.5
Australian dollar		32.6		13.9
British pound		15.6		5.0
Chinese yuan renminbi		9.8		7.6
New Zealand dollar		5.0		2.9
Swiss franc		4.5		1.5
Danish krone		3.7		3.0
South Korean won		3.0		4.6
Norwegian krone		2.9		2.0
Brazilian real		2.5		5.6
Canadian dollar		—		4.2
Other		6.3		4.2

Total	$	226.6	$	213.0


Foreign Currency Forward Contracts (pay United States dollar/receive foreign currency)

Israeli shekel	$	118.4	$	151.6
Indian rupee		11.7		9.1
Mexican peso		4.6		9.3
Other		3.0		2.2

Total	$	137.7	$	172.2

Finance Receivables Balance, by region and by class of internal credit rating


	North America		EMEA		Asia Pacific		Latin America		Total
	(In millions)
Class 1	$	48.0	$	26.9	$	9.9	$	—	$	84.8
Class 2		11.6		7.3		2.5		1.2		22.6
Class 3		1.1		0.8		0.7		1.5		4.1

Balance at the end of the period	$	60.7	$	35.0	$	13.1	$	2.7	$	111.5

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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, 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, issuances, 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 asset.

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- Definition

Tabular disclosure of the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), 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); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods. Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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