Note 7 - Financial Instruments and Investments in Securities

9 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

7.

Financial Instruments and Investments in Securities:

At

March 31, 2018

and

December 31, 2018,

we classified investments in debt securities and time deposits as held-to-maturity securities.

Our long-term and short-term investment securities are accounted for as held-to-maturity securities and are carried at amortized cost. We have the ability and intent to hold these investments until maturity. All income generated from the held-to-maturity securities investments are recorded as interest income.

Investments in held-to-maturity securities, recorded at amortized cost, were as follows: 

	March 31, 2018
			Gross		Gross
			Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
Short-term investments:
Commercial paper	$	10,597	$	-	$	(1	)	$	10,596
Time deposits		269,190		203		-			269,393
	$	279,787	$	203	$	(1	)	$	279,989

	December 31, 2018
			Gross		Gross
			Unrealized		Unrealized		Estimated
	Cost		Gains		Losses		Fair Value
Short-term investments:
Commercial paper	$	74,505	$	314	$	-	$	74,819
Time deposits		425,023		369		-		425,392
	$	499,528	$	683	$	-	$	500,211

The amortized cost and estimated fair value of held-to-maturity investments at

December 31, 2018,

by contractual maturity, are shown below. The estimated fair value of these investments are based on valuation inputs that include benchmark yields, reported trades, broker and dealer quotes, issuer spreads,

two

-sided markets, benchmark securities, bids, offers, and reference data, which are Level

2

inputs in the fair value hierarchy. Actual maturities

may

differ from contractual maturities because issuers

may

have the right to call or prepay obligations without call or prepayment penalties.

	Held-to-Maturity
	Amortized		Estimated
	Cost		Fair Value
Due in one year or less	$	499,528	$	500,211
Due after one year through five years		-		-
Total	$	499,528	$	500,211