Short-term Investments (Notes)

9 Months Ended

Dec. 31, 2015

The following table presents short-term investments as of December 31, 2015, and March 31, 2015:



(in thousands)	December 31, 2015		March 31, 2015
Certificates of deposit	$	—	$	7,912
Held-to-maturity, pre-refunded municipal bonds	1,242		15,994
Total short-term investments	$	1,242	$	23,906

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