Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE

v3.3.0.814
FAIR VALUE
6 Months Ended
Sep. 30, 2015
Fair Value Disclosures [Abstract]  
FAIR VALUE
FAIR VALUE
Our assets measured and recorded at fair value on a recurring basis 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 (in thousands):
 
As of
 
September 30, 2015
 
March 31, 2015
Money market funds
$
6,154

 
$
34,278


We did not record impairments to any non-financial assets in the second quarter or first six months of fiscal 2016 or 2015. 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 at September 30, 2015 and March 31, 2015. The carrying value and fair value based on quoted market prices in less active markets (level 2 fair value measurement) were as follows (in thousands):
 
As of
 
September 30, 2015
 
March 31, 2015
 
Carrying Value
 
Fair Value
 
Carrying Value
 
Fair Value
Convertible subordinated debt
$
152,680

 
$
142,811

 
$
152,138

 
$
166,551