Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
 12 Months Ended
Mar. 31, 2014
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 March 31, 2014: 
(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
$
117

 
$
117

 
—

 
—

 
Cash and cash equivalents
Liabilities:
 
 
 
 
 
 
 
 
 
Contingent consideration, current
$
2,067

 
—

 
—

 
$
2,067

 
Contingent consideration
Contingent consideration, long-term
$
574

 
—

 
—

 
$
574

 
Contingent consideration non-current
The following table presents financial assets, excluding cash, and non-financial liabilities measured at fair value on a recurring basis and their related valuation inputs as of March 31, 2013: 
(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
$
52,849

 
$
52,849

 
—

 
—

 
Cash and cash equivalents
Liabilities:
 
 
 
 
 
 
 
 
 
Contingent consideration, long-term
$
2,333

 
—

 
—

 
$
2,333

 
Contingent consideration non-current
Fair value measurement of contingent consideration
The fair value measurement of contingent consideration as of March 31, 2014 and March 31, 2013, encompasses the following significant unobservable inputs:
 
Unobservable Inputs for Fiscal Year Ended March 31,
($ in thousands)
2014
 
2013
Estimated earn-out contingent consideration
$
3,500

 
$
3,500

Working capital and other adjustment
$
(444
)
 
$
(444
)
Indemnification related to warranty claims
$
(303
)
 
$
(303
)
Discount rate
7.5
%
 
7.5
%
Approximate timing of cash flows
1.4 years

 
3.0 years

Summarizes contingent consideration activity
The following table summarizes contingent consideration activity:
 
Fiscal Year Ended March 31,
($ in thousands)
2014
 
2013
Balance beginning of period
$
2,333

 
$
—

Contingent consideration from business acquisition
—

 
3,038

Contingent consideration – payments
—

 
—

Contingent consideration – change in fair value (included in G&A expense)
308

 
42

Working capital and other adjustment
—

 
(444
)
Indemnification related to warranty claims
—

 
(303
)
Balance end of period
$
2,641

 
$
2,333