• Filing Date: 2017-08-09
  • Form Type: 10-Q
  • Description: Quarterly report
v3.7.0.1
FAIR VALUE
3 Months Ended
Jun. 30, 2017
Fair Value Disclosures [Abstract]  
FAIR VALUE
FAIR VALUE
Our assets measured and recorded at fair value on a recurring basis may consist of money market funds, which are included in cash and cash equivalents in our Condensed Consolidated Balance Sheets and are valued using quoted market prices (level 1 fair value measurements) at the respective balance sheet dates. At June 30, 2017 and March 31, 2017, we had no cash in money market funds.
We did not record impairments to any non-financial assets in the first quarter of fiscal 2018 or fiscal 2017. We do not have any non-financial liabilities measured and recorded at fair value on a non-recurring basis.
Our financial liabilities were comprised primarily of convertible subordinated debt and long-term debt at June 30, 2017 and March 31, 2017. The carrying value and fair value of our convertible subordinated debt and long-term debt were as follows (in thousands):
 
As of
 
June 30, 2017
 
March 31, 2017
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Convertible subordinated debt (1)
$
62,926

 
$
61,513

 
$
62,827

 
$
60,667

 
 
 
 
 
 
 
 
Long-term debt: (2)
 
 
 
 
 
 
 
Revolving credit agreement
11,888

 
13,372

 
16,852

 
18,490

Term loan agreement
48,331

 
49,930

 
48,176

 
50,026

Total long-term debt
$
60,219

 
$
63,302

 
$
65,028

 
$
68,516

 
 
 
 
 
 
(1) Fair value based on quoted market prices in less active markets (level 2).
 
(2) Fair value based on outstanding borrowings and market interest rates (level 2).