FOREIGN CURRENCY DERIVATIVES (Tables)

6 Months Ended

Sep. 30, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Outstanding Derivative Contracts

The gross fair value of the Company's outstanding derivative contracts at the end of each period was as follows:

(in thousands)	March 31, 2016		September 30, 2016
Derivative Assets (recorded in 'Other current assets')
Non-designated hedges	$	33	$	182
Cash flow hedges	1,952		2,524
Total Derivative Assets	$	1,985	$	2,706
Derivative Liabilities (recorded in 'Accrued liabilities')
Non-designated hedges	$	1,163	$	79
Cash flow hedges	3,255		2,655
Total Derivative Liabilities	$	4,418	$	2,734

Notional Value of Outstanding Foreign Exchange Currency Contracts

The following table summarizes the notional value of the Company’s outstanding foreign exchange currency contracts and approximate U.S. Dollar ("USD") equivalent at September 30, 2016:

(in thousands)	Local Currency		USD Equivalent		Position	Maturity
EUR	€	33,000	$	37,143	Sell EUR	1 month
GBP	£	7,600	$	9,893	Sell GBP	1 month
AUD	A$	13,800	$	10,569	Sell AUD	1 month
CAD	C$	2,230	$	1,699	Sell CAD	1 month

Effect of Non-Designated Derivative Contracts Recognized in Interest and Other Income, Net

The effect of non-designated derivative contracts recognized in other non-operating income and (expense), net in the condensed consolidated statements of operations was as follows:

	Three Months Ended   September 30,					Six Months Ended   September 30,
(in thousands)	2015		2016			2015		2016
Gain (loss) on foreign exchange contracts	$	1,276	$	(193	)	$	148	$	1,750

Notional Value of Outstanding Cross-Currency Swaps

The following table summarizes the notional value of the Company’s outstanding MXN cross-currency swaps and approximate USD Equivalent at September 30, 2016:

(in thousands)	Local Currency	USD Equivalent		Position	Maturity
MXN	491,790	$	26,779	Buy MXN	Monthly over	21 months

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the pre-tax effects of derivative instruments designated as cash flow hedges on accumulated other comprehensive income and the condensed consolidated statements of operations for the three and six months ended September 30, 2015 and 2016:

	Three Months Ended   September 30,						Six Months Ended   September 30,
(in thousands)	2015			2016			2015			2016
Gain (loss) included in AOCI as of beginning of period	$	102		$	415		$	5,705		$	(1,106	)
Amount of gain (loss) recognized in other comprehensive income (“OCI”)  (effective portion)	(1,976		)	(650		)	(4,814		)	304
Amount of gain (loss) reclassified from OCI into net revenues (effective portion)	2,197			825			5,735			985
Amount of gain (loss) reclassified from OCI into cost of revenues (effective portion)	(1,171		)	(589		)	(1,944		)	(1,316		)
Total amount of gain (loss) reclassified from AOCI to income (loss) (effective portion)	1,026			236			3,791			(331		)
Gain included in AOCI as of end of period	$	(2,900	)	$	(471	)	$	(2,900	)	$	(471	)