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The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis:
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Total Fair Value |
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Fair Value Measurement Using (a)
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| (In thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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| June 2023 |
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| Financial assets: |
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| Cash equivalents: |
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| Money market funds |
$ |
118,530 |
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$ |
118,530 |
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$ |
— |
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$ |
— |
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| Time deposits |
30,083 |
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30,083 |
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— |
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— |
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| Derivative financial instruments |
32,888 |
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— |
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32,888 |
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— |
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| Deferred compensation |
101,041 |
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101,041 |
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— |
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— |
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| Financial liabilities: |
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| Derivative financial instruments |
82,028 |
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— |
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82,028 |
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— |
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| Deferred compensation |
97,507 |
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— |
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97,507 |
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— |
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Total Fair Value |
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Fair Value Measurement Using (a)
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| (In thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
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| March 2023 |
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| Financial assets: |
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| Cash equivalents: |
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| Money market funds |
$ |
418,304 |
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$ |
418,304 |
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$ |
— |
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$ |
— |
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| Time deposits |
21,233 |
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21,233 |
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— |
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— |
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| Derivative financial instruments |
49,688 |
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— |
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49,688 |
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— |
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| Deferred compensation |
99,200 |
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99,200 |
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— |
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— |
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| Financial liabilities: |
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| Derivative financial instruments |
72,653 |
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— |
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72,653 |
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— |
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| Deferred compensation |
96,364 |
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— |
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96,364 |
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— |
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(a)There were no transfers among the levels within the fair value hierarchy during the three months ended June 2023 or the year ended March 2023.
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