| Schedule of financial assets and liabilities measured at fair value on a recurring basis |
The following table presents the Company's assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and 2018: | | | | | | | | | | | | | | | | | | Fair Value Measurements as of March 31, 2019 | | Level 1 | | Level 2 | | Level 3 | | Total | | (In thousands) | Assets: | |
| | |
| | |
| | |
| Money market funds and time deposits (Note 2) | $ | — |
| | $ | 473,888 |
| | $ | — |
| | $ | 473,888 |
| Foreign exchange forward contracts (Note 8) | — |
| | 27,277 |
| | — |
| | 27,277 |
| Deferred compensation plan assets: | | | | | | | | Mutual funds, money market accounts and equity securities | 2,845 |
| | 76,852 |
| | — |
| | 79,697 |
| Liabilities: | | | | | | | | Foreign exchange forward contracts (Note 8) | $ | — |
| | $ | (27,426 | ) | | $ | — |
| | $ | (27,426 | ) |
| | | | | | | | | | | | | | | | | | Fair Value Measurements as of March 31, 2018 | | Level 1 | | Level 2 | | Level 3 | | Total | | (In thousands) | Assets: | | | | | | | | Money market funds and time deposits (Note 2) | $ | — |
| | $ | 452,622 |
| | $ | — |
| | $ | 452,622 |
| Foreign exchange forward contracts (Note 8) | — |
| | 43,334 |
| | — |
| | 43,334 |
| Deferred compensation plan assets: | | | | | | | | Mutual funds, money market accounts and equity securities | 7,196 |
| | 67,532 |
| | — |
| | 74,728 |
| Liabilities: | | | | | | | | Foreign exchange forward contracts (Note 8) | $ | — |
| | $ | (25,311 | ) | | $ | — |
| | $ | (25,311 | ) |
|
| Schedule of liabilities not carried at fair value |
The following table presents the Company's liabilities not carried at fair value as of March 31, 2019 and 2018: | | | | | | | | | | | | | | | | | | | | As of March 31, 2019 | | As of March 31, 2018 | | | | Carrying
Amount | | Fair
Value | | Carrying
Amount | | Fair
Value | | Fair Value
Hierarchy | | (In thousands) | | (In thousands) | | | 4.625% Notes due February 2020 | $ | 500,000 |
| | $ | 499,950 |
| | $ | 500,000 |
| | $ | 513,596 |
| | Level 1 | Term Loan, including current portion, due in installments through November 2021 | 671,563 |
| | 670,724 |
| | 687,813 |
| | 689,966 |
| | Level 1 | Term Loan, including current portion, due in installments through June 2022 | 458,531 |
| | 457,958 |
| | 483,656 |
| | 485,470 |
| | Level 1 | 5.000% Notes due February 2023 | 500,000 |
| | 499,950 |
| | 500,000 |
| | 525,292 |
| | Level 1 | 4.750% Notes due June 2025 | 596,815 |
| | 599,940 |
| | 596,387 |
| | 627,407 |
| | Level 1 | Euro Term Loan due September 2020 | 52,746 |
| | 52,746 |
| | 59,443 |
| | 59,443 |
| | Level 2 | Euro Term Loan due January 2022 | 112,524 |
| | 112,524 |
| | 123,518 |
| | 123,518 |
| | Level 2 | India Facilities | 170,206 |
| | 170,206 |
| | — |
| | — |
| | Level 2 | Total | $ | 3,062,385 |
| | $ | 3,063,998 |
| | $ | 2,950,817 |
| | $ | 3,024,692 |
| | |
|