Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.6
Fair Value Measurements (Tables)
 9 Months Ended
Dec. 31, 2012
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on a recurring basis and their related valuation inputs
The following table presents financial assets and non-financial liabilities measured at fair value on a recurring basis and their related valuation inputs as of December 31, 2012:
(in thousands)
Total Fair Value of Asset or Liability
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
Balance Sheet Classification
Assets:
 
 
 
 
 
 
 
 
 
Money market funds
$
85,466

 
$
85,466

 
—

 
—

 
Cash and cash equivalents
Liabilities:
 
 
 
 
 
 
 
 
 
Contingent consideration, current
$
181

 
—

 
—

 
$
181

 
Accrued expenses
Contingent consideration, long-term
$
2,221

 
—

 
—

 
$
2,221

 
Contingent consideration long-term
Note payable guarantee
$
14

 
—

 
—

 
$
14

 
Accrued expenses
The following table presents financial assets and liabilities measured at fair value on a recurring basis and their related valuation inputs as of March 31, 2012:
(in thousands)
Total Fair Value of Asset or Liability
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
Balance Sheet Classification
Assets:
 
 
 
 
 
 
 
 
 
Money market funds
$
82,931

 
$
82,931

 
—

 
—

 
Cash and cash equivalents
Liabilities:
 
 
 
 
 
 
 
 
 
Note payable guarantee
$
25

 
—

 
—

 
$
25

 
Accrued expenses
Fair value measurement of contingent consideration
The fair value measurement of contingent consideration as of December 31, 2012 encompasses the following significant unobservable inputs:
($ in thousands)
Unobservable Inputs
Estimated earn-out contingent consideration
$
3,500

Working capital and other adjustment
(469
)
Indemnification related to warranty claims
(303
)
Discount rate
7.5
%
Approximate timing of cash flows
3 years

Summarizes contingent consideration activity
The following table summarizes contingent consideration activity:
(in thousands)
 
Balance as of March 31, 2012
$
—

Contingent consideration from business acquisition
3,038

Contingent consideration – payments
—

Contingent consideration – change in fair value in G&A expense
136

Working capital and other adjustment
(469
)
Indemnification related to warranty claims
(303
)
Balance as of December 31, 2012
$
2,402