Basis of Financial Statement Presentation (Tables)

9 Months Ended

Dec. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of new accounting pronouncements

The balance sheet as of March 31, 2016 has been adjusted to reflect retrospective application of the new accounting guidance as follows (amounts in thousands):

	As Previously Reported		Retrospective Adjustment			As Adjusted
Other assets	$	5,832	$	(2,764	)	$	3,068
Total assets	702,544		(2,764		)	699,780
Long-term debt, less current portion	388,597		(2,764		)	385,833
Total liabilities and stockholders’ equity	702,544		(2,764		)	699,780

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 December 31, 2016 and March 31, 2016 are as follows (amounts in thousands):

	Carrying Value December 31,			Fair Value December 31,			Fair Value Measurement Using									Carrying Value March 31,			Fair Value March 31,			Fair Value Measurement Using
	2016			2016			Level 1			Level 2 (2)			Level 3			2016			2016			Level 1			Level 2 (2)			Level 3
Assets (Liabilities):
Money markets (1)	$	719		$	719		$	719		$	—		$	—		$	738		$	738		$	738		$	—		$	—
Total debt	(386,226		)	(383,880		)	(353,441		)	(30,439		)	—			(387,833		)	(284,261		)	(254,713		)	(29,548		)	—
NEC TOKIN option,  net (3)	(24,100		)	(24,100		)	—			—			(24,100		)	(20,600		)	(20,600		)	—			—			(20,600		)

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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 option.  The value of the option depends on the enterprise value of NEC TOKIN Corporation and its forecasted EBITDA over the duration of the option. The option has 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, 2016	$	(20,600	)
Change in value of NEC TOKIN option	(3,500		)
December 31, 2016	$	(24,100	)

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):

	December 31, 2016			March 31, 2016
Raw materials and supplies	$	68,233		$	80,289
Work in process	48,545			46,631
Finished goods	53,709			58,060
	170,487			184,980
Inventory reserves	(15,968		)	(16,101		)
	$	154,519		$	168,879