Short-Term Investments

9 Months Ended

Dec. 31, 2011

Note 12. Short-term Investments

The following table presents short-term investments as of December 31, 2011 and March 31, 2011:


(in thousands)	December 31, 2011		March 31, 2011
Certificates of deposits	$	6,061	$	490
Held-to-maturity, pre-refunded municipal bonds		14,648		—

Total investments	$	20,709	$	490

The fair value of investments approximates their carrying amounts due to the short-term nature of these financial assets.