Basis of Financial Statement Presentation (Tables)

6 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis as of September 30, 2014 and March 31, 2014 are as follows (amounts in thousands):

	Carrying Value September 30,		Fair Value September 30,		Fair Value Measurement Using						Carrying Value March 31,		Fair Value March 31,		Fair Value Measurement Using
	2014		2014		Level 1		Level 2 (2)		Level 3		2014		2014		Level 1		Level 2 (2)		Level 3
Assets:
Money markets (1)	$	739	$	739	$	739	$	—	$	—	$	714	$	714	$	714	$	—	$	—
Total debt	402,082		414,406		372,750		41,656		—		398,589		409,284		371,863		37,421		—
NEC TOKIN options,  net (3)	14,300		14,300		—		—		14,300		3,600		3,600		—		—		3,600

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(1) Included in the line item “Cash and cash equivalents” on the Condensed Consolidated Balance Sheets.

(2) The valuation approach used to calculate fair value was a discounted cash flow based on the borrowing rate for each respective debt facility.

(3) See Note 6, Investment in NEC TOKIN, for a description of the NEC TOKIN options.  The value of the options is interrelated and depends

on the enterprise value of NEC TOKIN Corporation and its forecasted EBITDA over the duration of the instruments. The options have been valued using option pricing methods in a Monte Carlo simulation.

Summary of NEC TOKIN option valuation activity using significant unobservable inputs (Level 3)

The table below summarizes NEC TOKIN option valuation activity using significant unobservable inputs (Level 3) (amounts in thousands):

March 31, 2014	$	3,600
Change in value of NEC TOKIN options	10,700
September 30, 2014	$	14,300

Schedule of components of inventories

Inventories are stated at the lower of cost or market.  The components of inventories are as follows (amounts in thousands):

	September 30, 2014			March 31, 2014
Raw materials and supplies	$	89,416		$	90,968
Work in process	58,363			61,310
Finished goods	62,358			62,522
	210,137			214,800
Inventory reserves (1)	(21,304		)	(26,826		)
	$	188,833		$	187,974

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(1) During the quarter ended June 30, 2013, the Company recorded a $3.9 million reserve for inventory held by a third party. In the quarter ended June 30, 2014, this $3.9 million of inventory and the related reserve was written off.