Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v2.4.0.6
Fair Value Measurements (Tables)
 12 Months Ended
Mar. 31, 2013
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, 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 payable
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, 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:
 
 
 
 
 
 
 
 
 
Guarantee
$
25

 
—

 
—

 
$
25

 
Accrued expenses
Fair value measurement of contingent consideration
The fair value measurement of contingent consideration as of March 31, 2013, encompasses the following significant unobservable inputs:
($ in thousands)
Unobservable Inputs
Estimated earn-out contingent consideration
$
3,500

Working capital and other adjustment
$
(444
)
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 (included in G&A expense)
42

Working capital and other adjustment
(444
)
Indemnification related to warranty claims
(303
)
Balance as of March 31, 2013
$
2,333