Abiomed (ABMD) 10-Q 6 Feb 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2019	Jan. 30, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	ABMD
Entity Registrant Name	ABIOMED, INC.
Entity Central Index Key	0000815094
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--03-31
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		45,062,665
Entity File Number	001-09585
Entity Tax Identification Number	04-2743260
Title of 12(b) Security	Common Stock, $0.01 par value
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity Address, Address Line One	22 CHERRY HILL DRIVE
Entity Address, City or Town	DANVERS
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01923
City Area Code	978
Local Phone Number	646-1400

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Current assets:
Cash and cash equivalents	$ 117,970	$ 121,021
Short-term marketable securities	309,569	370,677
Accounts receivable, net	100,994	90,809
Inventories	91,193	80,942
Prepaid expenses and other current assets	16,850	13,748
Total current assets	636,576	677,197
Long-term marketable securities	167,981	21,718
Property and equipment, net	162,060	145,005
Goodwill	32,594	32,601
In-process research and development	15,205	15,208
Long-term deferred tax assets, net	47,028	77,502
Other assets	135,167	85,115
Total assets	1,196,611	1,054,346
Current liabilities:
Accounts payable	31,566	32,185
Accrued expenses	71,876	57,420
Deferred revenue	19,156	16,393
Other current liabilities	3,661
Total current liabilities	126,259	105,998
Contingent consideration	10,440	9,575
Long-term deferred tax liabilities	822	822
Other long-term liabilities	12,227	1,061
Total liabilities	149,748	117,456
Commitments and contingencies (Note 13)
Stockholders' equity:
Class B Preferred Stock, $.01 par value Authorized - 1,000,000 shares; Issued and outstanding - none
Common stock, $.01 par value Authorized - 100,000,000 shares; Issued - 47,498,385 shares at December 31, 2019 and 47,026,226 shares at March 31, 2019	451	451
Additional paid in capital	733,054	690,507
Retained earnings	570,683	399,473
Treasury stock at cost - 2,385,550 shares at December 31, 2019 and 1,903,241 shares at March 31, 2019	(240,330)	(138,852)
Accumulated other comprehensive loss	(16,995)	(14,689)
Total stockholders' equity	1,046,863	936,890
Total liabilities and stockholders' equity	$ 1,196,611	$ 1,054,346

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Mar. 31, 2019
Statement Of Financial Position [Abstract]
Class B Preferred Stock, par value	$ 0.01	$ 0.01
Class B Preferred Stock, Authorized	1,000,000	1,000,000
Class B Preferred Stock, Issued	0	0
Class B Preferred Stock, outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, Authorized	100,000,000	100,000,000
Common stock, Issued	47,498,385	47,026,226
Common stock, Outstanding	45,112,835	45,122,985
Treasury stock, shares	2,385,550	1,903,241

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue	$ 221,584	$ 200,563	$ 634,225	$ 562,351
Costs and expenses:
Cost of revenue	39,996	34,023	111,937	94,718
Research and development	25,655	23,965	73,413	67,955
Selling, general and administrative	85,674	80,220	257,708	240,254
Costs and Expenses, Total	151,325	138,208	443,058	402,927
Income from operations	70,259	62,355	191,167	159,424
Other income (expenses):
Investment income, net	3,086	2,175	9,066	5,397
Other income (expense), net	23,671	(20)	17,279	10
Nonoperating Income (Expense), Total	26,757	2,155	26,345	5,407
Income before income taxes	97,016	64,510	217,512	164,831
Income tax provision (benefit)	27,799	19,648	46,301	(20,225)
Net income	$ 69,217	$ 44,862	$ 171,211	$ 185,056
Basic net income per share	$ 1.53	$ 1	$ 3.79	$ 4.13
Basic weighted average shares outstanding	45,140	45,046	45,225	44,852
Diluted net income per share	$ 1.51	$ 0.97	$ 3.73	$ 4.01
Diluted weighted average shares outstanding	45,695	46,136	45,935	46,147

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 69,217	$ 44,862	$ 171,211	$ 185,056
Other comprehensive income (loss):
Foreign currency translation gain (loss)	1,945	(1,015)	(1,436)	(8,468)
Unrealized loss on derivative instrument	(1,392)		(1,392)
Net unrealized gains on marketable securities	8	234	522	356
Other comprehensive income (loss)	561	(781)	(2,306)	(8,112)
Comprehensive income	$ 69,778	$ 44,081	$ 168,905	$ 176,944

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning Balance at Mar. 31, 2018	$ 689,524	$ 444	$ (67,078)	$ 619,905	$ 140,457	$ (4,204)
Beginning Balance (in shares) at Mar. 31, 2018		44,375,337	1,725,312
Restricted stock units issued		$ 4		(4)
Restricted stock units issued (in shares)		384,887
Stock options exercised	5,798	$ 3		5,795
Stock options exercised (in shares)		282,368
Stock issued to directors	33			33
Stock issued to directors (in shares)		80
Return of common stock to pay withholding taxes on restricted stock	(67,598)	$ (2)	$ (67,596)
Return of common stock to pay withholding taxes on restricted stock (in shares)		(166,401)	166,401
Stock compensation expense	12,245			12,245
Other comprehensive income (loss)	(6,709)					(6,709)
Net income	90,066				90,066
Ending Balance at Jun. 30, 2018	723,359	$ 449	$ (134,674)	637,974	230,523	(10,913)
Ending Balance (in shares) at Jun. 30, 2018		44,876,271	1,891,713
Beginning Balance at Mar. 31, 2018	689,524	$ 444	$ (67,078)	619,905	140,457	(4,204)
Beginning Balance (in shares) at Mar. 31, 2018		44,375,337	1,725,312
Other comprehensive income (loss)	(8,112)
Net income	185,056
Ending Balance at Dec. 31, 2018	851,530	$ 451	$ (138,289)	676,171	325,513	(12,316)
Ending Balance (in shares) at Dec. 31, 2018		45,058,049	1,901,604
Beginning Balance at Jun. 30, 2018	723,359	$ 449	$ (134,674)	637,974	230,523	(10,913)
Beginning Balance (in shares) at Jun. 30, 2018		44,876,271	1,891,713
Restricted stock units issued (in shares)		18,827
Stock options exercised	4,815	$ 1		4,814
Stock options exercised (in shares)		142,978
Stock issued to directors	34			34
Stock issued to directors (in shares)		74
Return of common stock to pay withholding taxes on restricted stock	(2,069)		$ (2,069)
Return of common stock to pay withholding taxes on restricted stock (in shares)		(5,258)	5,258
Stock issued under employee stock purchase plan	1,376			1,376
Stock issued under employee stock purchase plan (in shares)		5,561
Stock compensation expense	15,934			15,934
Other comprehensive income (loss)	(622)					(622)
Net income	50,127				50,127
Ending Balance at Sep. 30, 2018	792,954	$ 450	$ (136,743)	660,132	280,650	(11,535)
Ending Balance (in shares) at Sep. 30, 2018		45,038,453	1,896,971
Restricted stock units issued		$ 1		(1)
Restricted stock units issued (in shares)		14,085
Stock options exercised	429			429
Stock options exercised (in shares)		10,039
Stock issued to directors	33			33
Stock issued to directors (in shares)		103
Return of common stock to pay withholding taxes on restricted stock	(1,546)		$ (1,546)
Return of common stock to pay withholding taxes on restricted stock (in shares)		(4,633)	4,633
Stock issued under employee stock purchase plan (in shares)		2
Stock compensation expense	15,578			15,578
Other comprehensive income (loss)	(781)					(781)
Net income	44,862				44,862
Ending Balance at Dec. 31, 2018	851,530	$ 451	$ (138,289)	676,171	325,513	(12,316)
Ending Balance (in shares) at Dec. 31, 2018		45,058,049	1,901,604
Beginning Balance at Mar. 31, 2019	$ 936,890	$ 451	$ (138,852)	690,507	399,473	(14,689)
Beginning Balance (in shares) at Mar. 31, 2019	45,122,985	45,122,985	1,903,241
Restricted stock units issued		$ 4		(4)
Restricted stock units issued (in shares)		373,430
Stock options exercised	$ 1,261	$ 1		1,260
Stock options exercised (in shares)		36,289
Return of common stock to pay withholding taxes on restricted stock	(40,536)	$ (2)	$ (40,534)
Return of common stock to pay withholding taxes on restricted stock (in shares)		(158,426)	158,426
Stock compensation expense	13,121			13,121
Other comprehensive income (loss)	2,934					2,934
Net income	88,923				88,923
Ending Balance at Jun. 30, 2019	1,002,593	$ 454	$ (179,386)	704,884	488,396	(11,755)
Ending Balance (in shares) at Jun. 30, 2019		45,374,278	2,061,667
Beginning Balance at Mar. 31, 2019	$ 936,890	$ 451	$ (138,852)	690,507	399,473	(14,689)
Beginning Balance (in shares) at Mar. 31, 2019	45,122,985	45,122,985	1,903,241
Stock options exercised (in shares)	65,000
Stock repurchase program	$ (59,900)
Stock repurchase program (in shares)	(318,361)
Other comprehensive income (loss)	$ (2,306)
Net income	171,211
Ending Balance at Dec. 31, 2019	$ 1,046,863	$ 451	$ (240,330)	733,054	570,683	(16,995)
Ending Balance (in shares) at Dec. 31, 2019	45,112,835	45,112,835	2,385,550
Beginning Balance at Jun. 30, 2019	$ 1,002,593	$ 454	$ (179,386)	704,884	488,396	(11,755)
Beginning Balance (in shares) at Jun. 30, 2019		45,374,278	2,061,667
Restricted stock units issued (in shares)		12,039
Stock options exercised	1,445			1,445
Stock options exercised (in shares)		21,268
Return of common stock to pay withholding taxes on restricted stock	(668)		$ (668)
Return of common stock to pay withholding taxes on restricted stock (in shares)		(3,363)	3,363
Stock issued under employee stock purchase plan	2,368			2,368
Stock issued under employee stock purchase plan (in shares)		15,659
Stock compensation expense	13,323			13,323
Stock repurchase program	(34,874)	$ (2)	$ (34,872)
Stock repurchase program (in shares)		180,929	(180,929)
Other comprehensive income (loss)	(5,801)					(5,801)
Net income	13,071				13,071
Ending Balance at Sep. 30, 2019	991,457	$ 452	$ (214,926)	722,020	501,467	(17,556)
Ending Balance (in shares) at Sep. 30, 2019		45,238,952	2,245,959
Restricted stock units issued (in shares)		6,004
Stock options exercised	460			460
Stock options exercised (in shares)		7,470
Return of common stock to pay withholding taxes on restricted stock	(403)		$ (403)
Return of common stock to pay withholding taxes on restricted stock (in shares)		(2,159)	2,159
Stock compensation expense	10,574			10,574
Stock repurchase program	$ (25,002)	$ (1)	$ (25,001)
Stock repurchase program (in shares)	(137,432)	137,432	(137,432)
Other comprehensive income (loss)	$ 561					561
Net income	69,217				69,217
Ending Balance at Dec. 31, 2019	$ 1,046,863	$ 451	$ (240,330)	$ 733,054	$ 570,683	$ (16,995)
Ending Balance (in shares) at Dec. 31, 2019	45,112,835	45,112,835	2,385,550

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Operating activities:
Net income	$ 171,211	$ 185,056
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	14,427	9,936
Bad debt expense	241	578
Stock-based compensation	37,019	43,757
Write-down of inventory and other	3,984	3,152
Accretion on marketable securities	(2,678)	(1,644)
Change in fair value of other investments	(17,407)
Deferred tax provision	30,551	(25,992)
Change in fair value of contingent consideration	865	93
Other non-cash operating activities	3,167
Changes in assets and liabilities:
Accounts receivable	(10,333)	(19,268)
Inventories	(13,261)	(26,522)
Prepaid expenses and other assets	(4,250)	678
Accounts payable	841	4,909
Accrued expenses and other liabilities	11,193	6,909
Deferred revenue	2,757	164
Net cash provided by operating activities	228,327	181,806
Investing activities:
Purchases of marketable securities	(491,513)	(241,745)
Proceeds from the sale and maturity of marketable securities and other	410,456	226,949
Purchases of other investments and intangible assets	(20,899)	(30,436)
Purchases of property and equipment	(33,460)	(35,469)
Net cash used for investing activities	(135,416)	(80,701)
Financing activities:
Proceeds from the exercise of stock options	3,165	11,043
Taxes paid related to net share settlement upon vesting of stock awards	(41,607)	(71,213)
Repurchase of common stock	(59,876)
Proceeds from the issuance of stock under employee stock purchase plan	2,368	1,376
Net cash used for financing activities	(95,950)	(58,794)
Effect of exchange rate changes on cash	(12)	(1,105)
Net (decrease) increase in cash and cash equivalents	(3,051)	41,206
Cash and cash equivalents at beginning of period	121,021	42,975
Cash and cash equivalents at end of period	117,970	84,181
Supplemental disclosure of cash flow information:
Cash paid for income taxes	7,479	4,500
Supplemental disclosure of non-cash activities:
Property and equipment in accounts payable and accrued expenses	3,314	$ 1,670
Right-of-use assets obtained in exchange for lease liabilities	$ 14,596

Nature of Business

Nature of Business	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Nature of Business	Note 1. Nature of Business ABIOMED, Inc. (the “Company” or “ABIOMED”) is a provider of mechanical circulatory support devices and offers a continuum of care to heart failure patients. The Company develops, manufactures and markets proprietary products that are designed to enable the heart to rest, heal and recover by improving blood flow and/or performing the pumping function of the heart. The Company’s products are used in the cardiac catheterization lab, or cath lab, by interventional cardiologists and in the heart surgery suite by cardiac surgeons for patients who are in need of hemodynamic support prophylactically or emergently before, during or after angioplasty or heart surgery procedures.

Basis of Preparation and Summar

Basis of Preparation and Summary of Significant Accounting Policies	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Preparation and Summary of Significant Accounting Policies	Note 2. Basis of Preparation and Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles, or GAAP, for interim financial reporting and in accordance with Article 10 of Regulation S-X. Accordingly, they do not include all of the information and note disclosures required by GAAP for complete financial statements. These statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2019 that has been filed with the SEC. In the opinion of management, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments that are necessary for a fair presentation of results for the interim periods presented. The results of operations for any interim period may not be indicative of results for the full fiscal year or any other subsequent period. There have been no changes in the Company’s significant accounting policies for the three and nine months ended December 31, 2019 as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2019 that has been filed with the SEC, except as described in “Recently Adopted Accounting Pronouncements.” Recently Adopted Accounting Pronouncements Effective April 1, 2019, the Company adopted the Financial Accounting Standards Board, or FASB standard update ASU 2016-02 (“Topic 842”), “Leases,” which requires lessees with lease arrangements exceeding a one-year term to record a right-of-use asset and lease obligation on the balance sheet, whether operating or financing, and related lease expenses for operating leases and amortization and interest expense for financing leases in the statement of operations. Additional information and disclosures required by this standard are contained in “Note 8. Leases.” Recently Issued Accounting Pronouncements Not Yet Effective In June 2016, the FASB issued ASU 2016-13 (“Topic 326”), “Financial Instruments - Credit Losses” This new guidance will require financial instruments to be measured at amortized cost, and accounts receivables to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments. ASU 2016-13 is effective for annual reporting periods beginning after December 31, 2019. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. ASU 2016-13 will become effective for the Company in fiscal 2021. In January 2017, the FASB issued ASU 2017-04, (“Topic 350”), “Intangibles - Goodwill and Other” This new guidance simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which required companies to estimate the implied fair value of goodwill and recognize an impairment charge by the amount in which the carrying value exceeds the implied fair value. Under the new guidance, if the carrying value of a reporting unit exceeds its fair value, a goodwill impairment charge will be recorded, even if the difference is attributable to the fair value of other assets in the reporting unit. ASU 2017-04 is effective for annual reporting periods beginning after December 15, 2019. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. ASU 2017-04 will become effective for the Company in fiscal 2021. In August 2018, the FASB issued ASU 2018-13 (“Topic 820”), “Fair Value Measurement” This new guidance modifies the disclosure requirements for fair value measurements. The Company has investments accounted for and disclosed under Topic 820 and will modify disclosures as applicable to conform with the new guidance. ASU 2018-13 is effective for annual reporting periods beginning after December 15, 2019 and early adoption is permitted. The Company does not expect the adoption of this standard and the required disclosure changes to have a material impact on its consolidated financial statements. ASU 2018-13 will become effective for the Company in fiscal 2021.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Net Income Per Share	Note 3. Net Income Per Share Basic net income per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted average number of dilutive common shares outstanding during the period. Diluted shares outstanding are calculated by adding to the weighted average shares outstanding any potential dilutive securities outstanding for the period. Potential dilutive securities include stock options, restricted stock units, performance-based stock awards and shares to be purchased under the Company’s employee stock purchase plan. The Company’s basic and diluted net income per share for the three and nine months ended December 31, 2019 and 2018 were as follows (in thousands, except per share data): For the Three Months Ended December 31, For the Nine Months Ended December 31, Basic Net Income Per Share 2019 2018 2019 2018 Net income $ 69,217 $ 44,862 $ 171,211 $ 185,056 Weighted average shares - basic 45,140 45,046 45,225 44,852 Net income per share - basic $ 1.53 $ 1.00 $ 3.79 $ 4.13 For the Three Months Ended December 31, For the Nine Months Ended December 31, Diluted Net Income Per Share 2019 2018 2019 2018 Net income $ 69,217 44,862 171,211 185,056 Weighted average shares - basic 45,140 45,046 45,225 44,852 Effect of dilutive securities 555 1,090 710 1,295 Weighted average shares - diluted 45,695 46,136 45,935 46,147 Net income per share - diluted $ 1.51 $ 0.97 $ 3.73 $ 4.01 Share-based compensation awards of approximately 0.3 million and 0.2 million shares for the three months ended December 31, 2019, and 2018, respectively, and approximately 0.2 million shares for each of the nine months ended December 31, 2019 and 2018, respectively, were outstanding but were not included in the computation of diluted net income per share because the effect of including such shares would have been anti-dilutive or are contingently issuable upon meeting performance criteria in the periods presented.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Revenue Recognition	Note 4. Revenue Recognition Adoption of Topic 606, Revenue from Contracts with Customers The Company adopted Topic 606 on April 1, 2018, using the modified retrospective method for all contracts not completed as of the date of adoption. The adoption of Topic 606 did not have a material impact on the Company’s consolidated balance sheet, statement of operations, stockholders’ equity or cash flows as of the adoption date or for the three and nine months ended December 31, 2019. The Company has made the following accounting policy elections and elected to use certain practical expedients, as permitted by the FASB, in applying Topic 606: (1) the Company accounts for amounts collected from customers for sales and other taxes, net of related amounts remitted to tax authorities; (2) the Company does not adjust the promised amount of consideration for the effects of a significant financing component because, at contract inception, the Company expects the period between the time when the Company transfers a promised good or service to the customer and the time when the customer pays for that good or service will be one year or less; (3) the Company expenses costs to obtain a contract as they are incurred if the expected period of benefit, and therefore the amortization period, is one year or less; (4) the Company accounts for shipping and handling activities that occur after control transfers to the customer as a fulfillment cost rather than an additional promised service and these fulfillment costs are recorded as selling, general and administrative expenses; (5) the Company does not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer; and (6) the Company does not disclose the transaction price allocated to unsatisfied performance obligations when the original expected contract duration is one year or less. The Company generates revenue primarily from the sale of Impella 2.5, Impella CP, Impella 5.0, Impella LD, Impella RP , Impella 5.5, and Impella AIC products. The Company also earns revenue from preventative maintenance service contracts and maintenance calls . The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligation in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligation in the contract • Recognition of revenue when, or as, a performance obligation is satisfied Identification of contracts and performance obligations The Company accounts for a contract with a customer when there is an approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of the consideration is probable. The Company's performance obligations consist mainly of transferring control of products and services identified in the contracts, purchase orders or invoices. For each contract, the Company considers the obligation to transfer products and services to the customer, each of which are distinct, to be performance obligations. Transaction price and allocation to performance obligations Transaction prices of products or services are typically based on contracted rates with customers and there is only variable consideration in limited instances. To the extent that the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing the expected value method or the most likely amount, depending on the circumstances, to which the Company expects to be entitled. An expected value method may be an appropriate estimate of the amount of variable consideration if an entity has a large number of contracts with similar characteristics whereas the most likely amount method may be an appropriate estimate of the amount of variable consideration if the contract has only two possible outcomes. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the Company’s anticipated performance and all information (historical, current and forecasted) that is reasonably available. Sales and other taxes collected on behalf of third parties are excluded from revenue. The Company does not provide for rights of return to customers on product sales and, therefore, does not record a provision for returns. Customers typically have a limited time frame to notify the Company of any defective or non-conforming products. The Company’s limited warranty provision is accounted for using the cost accrual method and is recognized as expense when products are sold and is not considered a separate performance obligation. If a contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. Revenue Recognition Revenue is recognized when, or as, obligations under the terms of a contract are satisfied, which occurs when control of the promised products or services is transferred to customers. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products or services to a customer. Product revenue is generally recognized when the customer obtains control of the Company’s products, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. Service revenue is generally recognized over time as the services are rendered to the customer based on the extent of progress towards completion of the performance obligation. The Company recognizes service revenue over the term of the service contract. Services are expected to be transferred to the customer throughout the term of the contract and the Company believes recognizing revenue ratably over the term of the contract best depicts the transfer of value to the customer. Revenue generated from preventative maintenance calls is recognized at a point in time when the services are provided to the customer. Revenue from the sale of products and services are evidenced by either a contract with the customer or a valid purchase order and an invoice which includes all relevant terms of sale and shipment of product or service provided has been incurred. The Company performs a review of each specific customer's credit worthiness and ability to pay prior to acceptance as a customer. Further, the Company performs periodic reviews of its customers' creditworthiness prospectively . Disaggregation of Revenue The Company generally sells most of its products and services through a direct sales force in the U.S., Germany and Japan and through direct sales or distribution agreements in other international markets (e.g., certain other European markets, Canada, Latin America, Middle East and Asia-Pacific). Revenue is categorized as Impella product revenue and service and other revenue and by geography, which the Company believes best depicts how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors. The following table categorizes the Company’s revenue by products and services: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) (in $000's) Impella product revenue $ 212,626 $ 193,253 $ 609,430 $ 542,198 Service and other revenue 8,958 7,310 24,795 20,153 Total revenue $ 221,584 $ 200,563 $ 634,225 $ 562,351 The following table categorizes the Company’s revenue by geographical location: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) (in $000's) U.S. revenue $ 185,569 $ 172,548 $ 533,070 $ 488,386 International revenue 36,015 28,015 101,155 73,965 Total revenue $ 221,584 $ 200,563 $ 634,225 $ 562,351 Variable Consideration Revenues from product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established and which result from discounts or rebates that are offered within contracts between the Company and its customers relating to the Company’s sales of its products. These reserves are based on the amounts earned or are expected to be claimed on the related sales and are classified as a liability. Where appropriate, these estimates take into consideration relevant factors such as the Company’s historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. These reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. Actual amounts of consideration ultimately received may differ from the Company’s estimates. If actual results in the future vary from the Company’s estimates, the Company adjusts these estimates, which would affect revenue and earnings in the period such variances become known. Rebates and Discounts The Company provides certain customers with rebates and discounts that are defined in the Company’s contract arrangements with customers and are recorded as a reduction of revenue in the period the related product revenue is recognized, resulting in a reduction to revenue and the establishment of a liability, which are all included in accrued expenses in the consolidated balance sheets. Rebates normally result from administrative fees required by certain customers and performance-based offers that are primarily based on attaining contractually specified sales volumes as well as product usage. Discounts are normally from early payment incentives. The Company estimates the amount of rebates and discounts based on an estimate of the third-party’s sales and the respective rebate or discount defined in the customer contractual arrangement. Revenue adjustments that relate to performance obligations satisfied in prior periods during the three and nine months ended December 31, 2019 and 2018 were not material. Contract Balances The timing of revenue recognition, billings, shipments and cash collections results in accounts receivables and deferred revenue on the consolidated balance sheet. A receivable is recognized in the period the Company’s right to the consideration from the customer is unconditional. The change in the accounts receivable balances relate to the timing of revenue recognition, billings and cash collections. The Company generally does not have any performance obligations with a term of more than one year. Payment terms vary by contract type and type of customer and generally range from 30 to 60 days for direct sales customers. Payment terms with certain international distributors can range from 60 to 120 days. The Company’s contracts with customers do not typically include extended payment terms. Deferred Revenue When consideration is received, or such consideration is unconditionally due, from a customer prior to transferring goods or services to the customer under the terms of a contract, deferred revenue is recorded. Deferred revenue is recognized as revenue after control of the products or services is transferred to the customer and all revenue recognition criteria have been met. The Company’s deferred revenue balance was $19.2 million as of December 31, 2019 and $16.4 million as of March 31, 2019 respectively. The Company’s deferred revenue is comprised primarily of product shipments in which the customer has not obtained control of the product and upfront payments received on preventive maintenance service contracts in which service has not been fully performed. This deferred revenue is recognized as revenue when the customer obtains control of the product for product sales, and revenue is recognized on service contracts ratably over the term of the service contract. During the three and nine months ended December 31, 2019, the Company recognized $2.3 million and $15.0 million of revenue that was included in the deferred revenue balance as of March 31, 2019, respectively. Costs to Obtain or Fulfill a Customer Contract The Company has certain costs to obtain and fulfill a customer contract, such as commissions and shipping costs. The Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. These costs are included in Selling, general, and administrative expenses.

Financial Instruments

Financial Instruments	9 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Financial Instruments	Note 5. Financial Instruments Cash Equivalents, Marketable Securities The Company’s cash equivalents and marketable securities at December 31, 2019 and March 31, 2019 are classified on the balance sheet as follows: December 31, 2019 March 31, 2019 (in $000's) Cash equivalents $ 56,674 $ 80,089 Short-term marketable securities 309,569 370,677 Long-term marketable securities 167,981 21,718 $ 534,224 $ 472,484 The Company’s cash equivalents and marketable securities at December 31, 2019 and March 31, 2019 are invested in the following: Amortized Gross Unrealized Gross Unrealized Fair Market Cost Gains Losses Value December 31, 2019: (in $000's) Money market funds $ 36,674 $ — $ — $ 36,674 Repurchase agreements 20,000 — — 20,000 Short-term U.S. Treasury mutual fund securities 37,158 23 — 37,181 Short-term government-backed securities 108,117 121 (11 ) 108,227 Short-term corporate debt securities 124,113 149 (4 ) 124,258 Short-term commercial paper 39,903 9 (9 ) 39,903 Long-term U.S. Treasury mutual fund securities 10,086 2 — 10,088 Long-term government-backed securities 71,963 46 (26 ) 71,983 Long-term corporate debt securities 85,348 562 — 85,910 $ 533,362 $ 912 $ (50 ) $ 534,224 Amortized Gross Unrealized Gross Unrealized Fair Market Cost Gains Losses Value March 31, 2019: (in $000's) Money market funds $ 60,089 $ — $ — $ 60,089 Repurchase agreements 20,000 — — 20,000 Short-term U.S. Treasury mutual fund securities 58,786 13 (12 ) 58,787 Short-term government-backed securities 126,336 60 (15 ) 126,381 Short-term corporate debt securities 128,626 97 (9 ) 128,714 Short-term commercial paper 56,780 16 (1 ) 56,795 Long-term corporate debt securities 21,529 189 — 21,718 $ 472,146 $ 375 $ (37 ) $ 472,484 Derivative Instruments In October 2019, the Company entered into an intercompany agreement in which it loaned 85.0 million Euro to its Abiomed Europe GMBH, its German subsidiary. In conjunction with this intercompany loan agreement, the Company entered into a cross-currency swap agreement to convert a notional amount of 85.0 million Euro equivalent to $93.5 million denominated intercompany loan into U.S. dollars. The objective of this cross-currency swap is to hedge the variability of cash flows related to the forecasted interest and principal payments on the Euro denominated fixed rate loan against changes in the exchange rate between the U.S. dollar and the Euro. Under the terms of this cross-currency swap contract, which has been designated as a cash flow hedge, the Company will make interest payments in Euro and receive interest in U.S. dollars. Upon the maturity of this contract, the Company will pay the principal amount of the loan in Euro and receive U.S. dollars from the counterparty. The cross-currency swap is carried on the consolidated balance sheet at fair value, and changes in the fair values are recorded as unrealized gains or losses in Accumulated Other Comprehensive Income (“AOCI”). The Company uses a foreign-exchange-related derivative instrument to manage its exposure related to changes in the exchange rate on its intercompany loan. The Company does not enter into derivative instruments for any purpose other than cash flow hedging. The following table summarizes the terms of the cross-currency swap agreement as of December 31, 2019 (dollar amounts in thousands): December 31, 2019 Effective Date Maturity Fixed Rate Aggregate Notional Amount Pay EUR October 15, October 15, 2.75% EUR 85,000 Receive U.S.$ 2019 2024 4.64% USD 93,457 The following table presents the notional amount and fair value of the Company’s derivative instrument as of December 31, 2019: December 31, 2019 Derivatives designated as hedging instruments under ASC 815 Balance Sheet classification Fair Value Cross-currency swap Other assets (long term liabilities) $ (3,278 ) The Company has structured its cross-currency swap agreement to be 100% effective and, as a result, there was no net impact to earnings resulting from hedge ineffectiveness. Changes in the fair value of the cross-currency swap designated as a hedging instrument that effectively offsets the variability of cash flows are reported in AOCI. These amounts subsequently are reclassified into the consolidated income statement in the same period in which the related hedged item affects earnings. For the three and nine months ended December 31, 2019, the Company recorded a $0.4 million in other income, net, included in the consolidated statements of operations related to the interest rate differential of the cross-currency swaps. Contingent Consideration The Company’s contingent consideration consists of potentially payable amount related to the acquisition of ECP Entwicklungsgesellschaft mbH, or ECP, and AIS GmbH Aachen Innovative Solutions, or AIS, in July 2014. The Company acquired ECP and AIS for $13.0 million in cash, with additional potential payouts totaling $15.0 million based on the achievement of CE Mark approval in the European Union and a revenue-based milestone related to the development of the future Impella ECP TM Fair Value Hierarchy Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Financial assets and liabilities carried at fair value are to be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. Level 1 primarily consists of financial instruments whose values are based on quoted market prices such as exchange-traded instruments and listed equities. Level 2 includes financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including time value, yield curve, volatility factors, prepayment speeds, default rates, loss severity, current market and contractual prices for the underlying financial instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Level 3 is comprised of unobservable inputs that are supported by little or no market activity. Financial assets are considered Level 3 when their fair values are determined using pricing models, discounted cash flows or similar techniques and at least one significant model assumption or input is unobservable. The following tables presents the Company’s fair value hierarchy for its financial instruments measured at fair value as of December 31, 2019 and March 31, 2019: Level 1 Level 2 Level 3 Total December 31, 2019: (in $000's) Assets Money market funds $ 36,674 $ — $ — $ 36,674 Repurchase agreements — 20,000 — 20,000 Short-term U.S. Treasury mutual fund securities — 37,181 — 37,181 Short-term government-backed securities — 108,227 — 108,227 Short-term corporate debt securities — 124,258 — 124,258 Short-term commercial paper — 39,903 — 39,903 Long-term U.S. Treasury mutual fund securities 10,088 — 10,088 Long-term government-backed securities — 71,983 — 71,983 Long-term corporate debt securities — 85,910 — 85,910 Investment in Shockwave Medical 73,735 — — 73,735 Liabilities Cross-currency swap agreement — 3,278 — 3,278 Contingent consideration — — 10,440 10,440 Level 1 Level 2 Level 3 Total March 31, 2019: (in $000's) Assets Money market funds $ 60,089 $ — $ — $ 60,089 Repurchase agreements — 20,000 — 20,000 Short-term U.S. Treasury mutual fund securities — 58,787 — 58,787 Short-term government-backed securities — 126,381 — 126,381 Short-term corporate debt securities — 128,714 — 128,714 Short-term commercial paper — 56,795 — 56,795 Long-term corporate debt securities — 21,718 — 21,718 Investment in Shockwave Medical 56,195 — — 56,195 Liabilities Contingent consideration — — 9,575 9,575 The Company has determined that the estimated fair value of its money market funds and its investment in Shockwave Medical, a publicly traded medical device company, are reported as Level 1 financial assets as they are valued at quoted market prices in active markets. The investment in Shockwave Medical is classified within other assets in the consolidated balance sheet. The Company has determined that the estimated fair value of its repurchase agreements, U.S. Treasury mutual fund securities, government-backed securities, corporate debt securities, commercial paper and cross-currency rate swap are reported as Level 2 financial assets as they are based on model-driven valuations in which all significant inputs are observable, or can be derived from or corroborated by observable market data for substantially the full term of the asset. The Company’s contingent consideration liability is reported as Level 3 as the estimated fair value of the contingent consideration related to the acquisition of ECP requires significant management judgment or estimation and is calculated using the following valuation methods: Milestone Payment Fair Value at December 31, 2019 Valuation Methodology Significant Unobservable Input Weighted Average (range, if applicable) (in $000's) Clinical and regulatory milestone $ 7,000 $ 5,617 Probability weighted income approach Projected fiscal year of milestone payments 2021 to 2023 Discount rate 2.84% to 2.86% Probability of occurrence Probability adjusted level of 45% for the base case scenario and 15% to 40% for various downside and upside scenarios Revenue-based milestone 8,000 4,823 Monte Carlo simulation model Projected fiscal year of milestone payments 2025 to 2035 Discount rate 18% Expected volatility for forecasted revenues 50% Probability of payment (risk-neutral) 73.8% $ 15,000 $ 10,440 The following table summarizes the change in fair value, as determined by Level 3 inputs, of the contingent consideration for the three and nine months ended December 31, 2019 and 2018: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) Beginning balance $ 10,236 $ 10,331 $ 9,575 $ 10,490 Additions — — — — Payments — — — — Change in fair value 204 252 865 93 Ending balance $ 10,440 $ 10,583 $ 10,440 $ 10,583 The change in fair value of the contingent consideration was primarily due to estimates related to development timelines and the passage of time on the fair value measurement of milestones. Adjustments associated with the change in fair value of contingent consideration are included in research and development expenses in the Company’s consolidated statements of operations. Significant increases or decreases in any of the probabilities of success or changes in expected timelines for achievement of any of these milestones could result in a significantly higher or lower fair value of the liability. The fair value of the contingent consideration at each reporting date is updated by reflecting the changes in fair value reflected in the Company’s consolidated statement of operations. There is no assurance that any of the conditions for the milestone payments will be met .

Property and Equipment

Property and Equipment	9 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Property and Equipment	Note 6. Property and Equipment The components of property and equipment are as follows: December 31, 2019 March 31, 2019 (in $000's) Land $ 7,261 $ 7,262 Building and building improvements 98,819 86,705 Leasehold improvements 14,150 2,190 Machinery and equipment 66,793 59,146 Furniture and fixtures 14,619 11,456 Construction in progress 13,148 17,946 Total cost 214,790 184,705 Accumulated depreciation (52,730 ) (39,700 ) Property and equipment, net $ 162,060 $ 145,005

Goodwill, In-Process Research a

Goodwill, In-Process Research and Development and Other Assets	9 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, In-Process Research and Development and Other Assets	Note 7. Goodwill, In-Process Research and Development and Other Assets Goodwill The carrying amount of goodwill at December 31, 2019 and March 31, 2019 was $32.6 million and $32.6 million, respectively, and has been recorded in connection with the Company’s acquisition of Impella Cardiosystems AG, in May 2005 and ECP and AIS in July 2014. The carrying value of goodwill and the change in the balance for the nine months ended December 31, 2019 are as follows: (in $000's) Balance, March 31, 2019 $ 32,601 Foreign currency translation impact (7 ) Balance, December 31, 2019 $ 32,594 The Company evaluates goodwill at least annually at October 31, as well as whenever events or changes in circumstances suggest that the carrying amount may not be recoverable. The Company has no accumulated impairment losses on goodwill. In-Process Research & Development The carrying amount of in-process research & development, or IPR&D, assets at December 31, 2019 and March 31, 2019 was $15.2 million for each date, respectively, and was recorded in conjunction with the Company’s acquisition of ECP and AIS, in July 2014. The estimated fair value of IPR&D assets at the acquisition date was determined using a probability-weighted income approach, which discounts expected future cash flows to present value. The projected cash flow estimates for the future Impella ECP TM The carrying value of the Company’s IPR&D assets and the change in the balance for the nine months ended December 31, 2019 are as follows: (in $000's) Balance, March 31, 2019 $ 15,208 Foreign currency translation impact (3 ) Balance, December 31, 2019 $ 15,205 The Company evaluates IPR&D assets at least annually at October 31, as well as whenever events or changes in circumstances suggest that the carrying amount may not be recoverable. The Company has no accumulated impairment losses on IPR&D assets. Other Assets Other assets are made of the following: December 31, 2019 March 31, 2019 (in $000's) Equity method and other investments $ 117,036 $ 80,779 Right of use asset - leases (Note 8) 11,455 — Other intangible assets and other assets 6,676 4,336 Total other assets $ 135,167 $ 85,115 Equity Method Investment and Other Investments The Company periodically makes investments in medical device companies that focus on heart failure, heart pump and other medical device technologies. For investments in convertible debt or preferred stock securities that do not have readily determinable market values, the Company measures these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for an identical or similar investment. The Company measures investments in equity securities at fair value and recognize changes in fair value in net income. For equity method investments, the amount of the Company’s initial investment is adjusted each period by the Company’s share of the investee’s income or loss. The Company monitors any events or changes in circumstances that may have a significant effect on the fair value of investments, either due to impairment or based on observable price changes, and makes any necessary adjustments. The following table summarizes the Company’s equity method and other investments as of December 31, 2019 and March 31, 2019, which are classified as December 31, 2019 March 31, 2019 (in $000's) Other investments $ 114,169 $ 80,779 Equity method investment 2,867 — Total equity and other investments $ 117,036 $ 80,779 The carrying value of the Company’s portfolio of equity method and other investments and the change in the balance for the three and nine months ended December 31, 2019 and 2018 are as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) Beginning balance $ 81,836 $ 22,325 $ 80,779 $ 12,649 Additions 12,600 18,459 19,600 28,135 Disposals (750 ) — (750 ) — Change in fair value, net 23,350 — 17,407 — Ending balance $ 117,036 $ 40,784 $ 117,036 $ 40,784 In fiscal 2019, the Company invested $25.0 million in Shockwave Medical. The fair value of this investment as of December 31, 2019 and March 31, 2019 was $73.7 million and $56.2 million, respectively. The Company recognized a pre-tax unrealized gain of $23.5 million and $17.5 million on its investment in Shockwave Medical for the three and nine months ended December 31, 2019, respectively. In July 2019, the Company invested $3.0 million in a small private medical device company. Based on the Company’s controlling economic interest and significant influence exertion over the investee’s operating and financial policies, this investment was accounted for using the equity method. The Company recognizes its share of the results of operations related to this equity method investment one quarter in arrears when the results of the entity become available, in other income (expense), net of tax in the condensed consolidated statement of operations. The Company's share of income statement activity for this equity method investment for the three and nine months ended December 31, 2019 was a loss of $0.1 million. During the nine months ended December 31, 2019, the Company made additional other investments of $16.6 million in other private medical device companies. Other Intangible Assets and Other Included within other intangible assets and other assets is $4.1 million related to license manufacturing rights to certain technology from third parties. These intangible assets are classified with other assets in the Company’s consolidated balance sheet and are amortized over their useful life of 15 years.

Leases

Leases	9 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Note 8. Leases The Company has lease agreements for real estate including corporate offices, warehouse space, vehicles and certain office equipment. At the inception of a contractual arrangement, the Company determines whether it contains a lease by assessing whether there is an identified asset and whether the contract conveys the right to control the use of the identified asset in exchange for consideration over a period of time. If both criteria are met, the Company calculates the associated lease liability and corresponding right-of-use, or ROU, asset upon lease commencement. Operating lease assets and liabilities are recognized based on the present value of minimum lease payments over the lease term using an appropriate discount rate. ROU assets also include any lease payments made at or before lease commencement and any initial direct costs incurred and exclude any lease incentives received. The discount rate used is the rate that the Company would have to pay to borrow on a collateralized basis over a similar term for an amount equal to the lease payments in a similar economic environment. At the lease commencement date, the discount rate implicit in the lease is used to discount the lease liability, if readily determinable. If not readily determinable or lease do not contain an implicit rate, the Company’s incremental borrowing rate is used as the discount rate. Discount rates are updated when there is a new lease or a modification to an existing lease, and the methodology is reassessed annually. The Company records operating lease liabilities within current liabilities or long-term liabilities based upon the length of time associated with the lease payments. The Company records its operating lease ROU assets as long-term assets. Leases with an initial term of 12 months or less are not recognized on the consolidated balance sheet. The Company have elected the practical expedient where lease agreements with lease and non-lease components are accounted for as a single lease component for all assets. The Company’s financing leases are not material to our financial statements. The Company adopted ASC Topic 842 on April 1, 2019 using the optional transition method. As such, the disclosures required under ASC Topic 842 are not presented for periods before the date of adoption. For the comparative period prior to adoption, the Company presents the disclosures which were previously required under ASC Topic 840. The Company elected the package of transitional practical expedients for leases existing prior to the adoption date. The Company did not reassess whether existing contracts are or contain leases, leases retained their historical lease classification and initial direct costs were not reassessed for capitalization under the new standard. Operating lease assets and operating lease liabilities were recognized based on the present value of minimum lease payments over the remaining lease term as of the adoption date. The following table presents supplemental balance sheet information related to our operating leases: December 31, 2019 (in $000's) Assets Operating lease right-of-use assets in other assets $ 11,455 Liabilities Operating lease liabilities in other current liabilities 3,115 Operating lease liabilities in other long-term liabilities 9,506 Total operating lease liabilities $ 12,621 Expense charged to operations under operating leases was $1.2 million and $3.2 million during the three and nine months ended December 31, 2019, respectively. Short-term lease expenses were not material. Under ASC Topic 840, Leases (“ASC 840”), the Company recognized rent expense on a straight-line basis over the term of the lease and recorded the difference between the amount charged to expense and the rent paid as prepaid rent or deferred rent liability. As of March 31, 2019, the amount of deferred rent was $0.3 million, which was subsequently reclassified as contra-asset against the ROU asset upon adoption of ASU No. 2016-02 on April 1, 2019. Maturities of operating lease liabilities as of December 31, 2019 are as follows: (in thousands, except lease term and discount rate) Fiscal Years Ended March 31, 2020 $ 895 2021 3,378 2022 2,561 2023 1,533 2024 1,442 Thereafter 3,322 Total minimum lease payments 13,131 Less: imputed interest (510 ) Present value of operating lease liabilities $ 12,621 Weighted average remaining lease term 5.59 Weighted average discount rate 3.23 % Minimum future lease payments previously disclosed under ASC 840 in our Annual Report on Form 10-K for the year ended March 31, 2019 were as follows: Fiscal Years Ended March 31, (in $000's) 2020 $ 3,398 2021 2,712 2022 2,000 2023 1,462 2024 1,414 Thereafter 3,288 Total minimum lease payments $ 14,274

Accrued Expenses

Accrued Expenses	9 Months Ended
	Dec. 31, 2019
Payables And Accruals [Abstract]
Accrued Expenses	Note 9. Accrued Expenses Accrued expenses consist of the following: December 31, 2019 March 31, 2019 (in $000's) Employee compensation $ 34,151 $ 32,926 Sales and income taxes 21,773 12,262 Research and development 4,702 3,309 Professional, legal, and accounting fees 3,361 2,757 Marketing 2,212 1,707 Warranty 1,698 1,272 Other 3,979 3,187 $ 71,876 $ 57,420 Employee compensation consists primarily of accrued bonuses, commissions, employee benefits and, payroll taxes at December 31, 2019 and March 31, 2019.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Stockholders' Equity	Note 10. Stockholders’ Equity Stock Repurchase Program In August 2019, the Company’s Board of Directors authorized a stock repurchase program for up to $200.0 million of shares of its common stock. Under this stock repurchase program, the Company is authorized to repurchase shares through open market purchases, privately negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Securities Exchange Act of 1934 (the “Exchange Act”). The stock repurchase program has no time limit and may be suspended for periods or discontinued at any time. The Company is funding the stock repurchase program with its available cash and marketable securities. Through December 31, 2019, the Company has repurchased a total of 318,361 shares for $59.9 million under the stock repurchase program. The remaining authorization under the stock repurchase program was $140.1 million as of December 31, 2019. The following table provides share repurchase activities: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 Shares repurchased 137,432 — 318,361 — Average price per share $ 181.94 — $ 188.08 — Value of shares repurchased (in millions) $ 25.0 — $ 59.9 — Accumulated Other Comprehensive Income (Loss) The components of accumulated other comprehensive income (loss), are as follows (in thousands): Nine Months Ended December 31, 2019 Foreign Currency Items Unrealized Gains and Losses on Investments Gains and Losses on cash flow hedge Total Balance, April 1, 2019 (15,028 ) 339 — (14,689 ) Other comprehensive income (loss) 2,334 600 — 2,934 Balance, June 30, 2019 (12,694 ) 939 — (11,755 ) Other comprehensive income (loss) (5,716 ) (85 ) — (5,801 ) Balance, September 30, 2019 (18,410 ) 854 — (17,556 ) Other comprehensive income (loss) 1,945 8 (1,392 ) 561 Balance, December 31, 2019 $ (16,465 ) $ 862 $ (1,392 ) $ (16,995 ) Nine Months Ended December 31, 2018 Foreign Currency Items Unrealized Gains and Losses on Investments Gains and Losses on cash flow hedge Total Balance, April 1, 2018 (3,597 ) (607 ) — (4,204 ) Other comprehensive income (loss) (6,852 ) 143 — (6,709 ) Balance, June 30, 2018 (10,449 ) (464 ) — (10,913 ) Other comprehensive income (loss) (600 ) (22 ) — (622 ) Balance, September 30, 2018 (11,049 ) (486 ) — (11,535 ) Other comprehensive income (loss) (1,015 ) 234 — (781 ) Balance, December 31, 2018 $ (12,064 ) $ (252 ) $ - $ (12,316 )

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	Note 11. Stock-Based Compensation The following table summarizes stock-based compensation expense by financial statement line item in the Company’s condensed consolidated statements of operations for the three and nine months ended December 31, 2019 and 2018: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) Cost of product revenue $ 809 $ 773 $ 2,531 $ 2,122 Research and development 1,586 2,638 5,292 7,222 Selling, general and administrative 8,179 12,167 29,196 34,413 $ 10,574 $ 15,578 $ 37,019 $ 43,757 Stock Options The following table summarizes the stock option activity for the nine months ended December 31, 2019: Weighted Weighted Average Aggregate Average Remaining Intrinsic Options Exercise Contractual Value (in thousands) Price Term (years) (in thousands) Outstanding at beginning of period 853 $ 87.14 5.57 Granted 117 259.52 Exercised (65 ) 48.67 Cancelled and expired (14 ) 235.87 Outstanding at end of period 891 $ 110.27 5.46 $ 79,843 Exercisable at end of period 668 $ 62.60 4.39 $ 77,717 Options vested and expected to vest at end of period 888 $ 110.28 5.46 $ 79,672 Stock options generally vest and become exercisable annually over three years. The remaining unrecognized stock-based compensation expense for unvested stock option awards at December 31, 2019 was approximately $15.2 million and the estimated weighted-average period over which this cost will be recognized is 2.0 years. The aggregate intrinsic value of options exercised was $12.2 million for the nine months ended December 31, 2019. The total cash received as a result of employee stock option exercises for the nine months ended December 31, 2019 was approximately $3.2 million. The Company estimates the fair value of each stock option granted at the grant date using the Black-Scholes option valuation model. The weighted average grant-date fair values and weighted average assumptions used in the calculation of fair value of options granted during the three and nine months ended December 31, 2019 and 2018 was as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 Weighted average grant-date fair value $ 74.61 $ 117.50 $ 93.68 $ 142.08 Valuation assumptions: Risk-free interest rate 1.68 % 2.81 % 1.99 % 2.93 % Expected option life (years) 4.10 4.04 4.14 4.04 Expected volatility 42.36 % 45.2 % 42.34 % 42.8 % Restricted Stock Units The following table summarizes activity of restricted stock units for the nine months ended December 31, 2019: Number of Shares Weighted Average Grant Date Fair Value (in thousands) (per share) Restricted stock units at beginning of period 620 $ 193.53 Granted 159 260.13 Vested (391 ) 144.39 Forfeited (65 ) 307.40 Restricted stock units at end of period 323 $ 264.48 Restricted stock units generally vest annually over three years. The remaining unrecognized compensation expense for outstanding restricted stock units, including performance awards, as of December 31, 2019 was $41.1 million and the estimated weighted-average period over which this cost will be recognized is 1.8 years. The weighted average grant-date fair value for restricted stock units granted during the nine months ended December 31, 2019 was $260.13. The total fair value of restricted stock units vested during the nine months ended December 31, 2019 was $99.1 million. Performance-Based Awards In May 2019, performance-based awards of restricted stock units for the potential issuance of up to 196,580 shares of common stock were issued to certain executive officers and employees, which vest upon achievement of prescribed service milestones by the award recipients and the achievement of prescribed performance milestones by the Company. As of December 31, 2019, the Company is recognizing compensation expense based on the probable outcome related to the prescribed performance targets on the outstanding awards.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes The Company’s income tax provision was $27.8 million and $19.6 million for the three months ended December 31, 2019 and 2018, respectively. The Company’s income tax provision was $46.3 million for the nine months ended December 31, 2019 and the Company had an income tax benefit of $20.2 million for the nine months ended December 31, 2018. , respectively The significant differences between the statutory income tax rate and effective income tax rate for the three and nine months ended December 31, 2019 and 2018 were as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 Statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) resulting from: — Excess tax benefits from stock-based awards (0.5 ) (2.6 ) (6.3 ) (41.5 ) Credits (1.6 ) (1.7 ) (1.6 ) (1.7 ) State taxes, net 3.3 4.3 3.3 4.3 Permanent differences 1.8 1.8 1.8 1.8 Excess foreign tax credits 4.0 7.9 2.7 3.7 Other 0.7 (0.2 ) 0.4 0.1 Effective tax rate 28.7 % 30.5 % 21.3 % (12.3 ) % T he Company recognizes excess tax benefits and shortfalls in the income tax provision as discrete items in the period in which restricted stock units vest or stock option exercises occur. The Company recognized excess tax benefits associated with stock-based awards of $0.5 million and $1.7 million as an income tax benefit for the three months ended December 31, 2019 and 2018, respectively. The Company recognized excess tax benefits associated with stock-based awards of $13.8 million and $68.5 million as an income tax benefit for the nine months ended December 31, 2019 and 2018, respectively. These recognized excess tax benefits resulted from restricted stock units that vested or stock options that were exercised during each period. The amount of future excess tax benefits or shortfalls will likely fluctuate from period to period based on the price of the Company’s stock, the number of restricted stock units that vest or stock options that are exercised, and the fair value assigned to such stock-based awards under U.S. GAAP. The Company and its subsidiaries are subject to U.S. federal income tax, as well as income tax in multiple state and foreign jurisdictions. During fiscal 2019, the Company closed an income tax audit in Germany, which covered fiscal years 2012 through 2015 and an Internal Revenue Service audit in the U.S. relating to its fiscal year 2016 tax return. These audits did not materially impact our financial statements. All other tax years remain subject to examination by the federal, state and foreign tax authorities.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 13. Commitments and Contingencies From time to time, the Company is involved in legal and administrative proceedings and claims of various types. In some actions, the claimants seek damages, as well as other relief, which, if granted, would require significant expenditures. The Company records a liability in its consolidated financial statements for these matters when a loss is known or considered probable and the amount can be reasonably estimated. The Company reviews these estimates each accounting period as additional information is known and adjusts the loss provision when appropriate. If a matter is both probable to result in liability and the amount of loss can be reasonably estimated, the Company estimates and discloses the possible loss or range of loss. If the loss is not probable or cannot be reasonably estimated, a liability is not recorded in its consolidated financial statements. Thoratec Matters Thoratec Corporation (“Thoratec”), a subsidiary of Abbott Laboratories, has challenged a number of Company-owned patents in Europe in connection with the launch of Thoratec’s HeartMate PHPTM medical device (“PHP”) in Europe and the Company has counterclaimed for infringement in the District Court in Düsseldorf. The litigation was stayed pending the highest Court’s ruling on the validity and scope of the litigated patents. In September 2019, the Federal Court of Justice in Germany upheld the Company’s patents that are the subject of the patent infringement action for the sales and marketing of Thoratec’s PHP pump in Germany. Subsequently, the District Court in Düsseldorf lifted the stay and re-opened the litigation proceedings. These actions relate solely to Thoratec’s ability to manufacture and sell its PHP product in Europe and have no impact on the Company's ability to manufacture or sell its Impella® line of medical devices. The actions do not expose the Company to liability risk, except under local German law that requires a losing party in a proceeding to pay a portion of the other party’s legal fees. Maquet Matters In December 2015, the Company received a letter from Maquet Cardiovascular LLC (“Maquet”), a subsidiary of Getinge AB, asserting that the Company’s Impella ® In August 2016, Maquet sent a letter to the Company identifying four new Maquet U.S. continuation patent filings with claims that Maquet alleges are infringed by the Company’s Impella devices. The four U.S. continuation applications have been issued as patents of Maquet and will expire in September 2020. In September 2016, Maquet filed a response to the Company’s suit in D. Mass., including various counterclaims alleging that the Company’s Impella 2.5®, Impella CP®, Impella 5.0®, and Impella RP® heart pumps infringe certain claims of the three original issued U.S. patents (“2016 Action”). In July 2017, the Court granted a motion to add three of the four additional continuation patents to the 2016 Action. In April 2018, the Court conducted a Markman hearing on claim interpretation. On September 7, 2018, the judge issued a Memorandum and Order on Claim Construction, where he interpreted the disputed claim terms in the case. Maquet then filed a motion for reconsideration of the Court’s construction of one of the disputed claim terms. That motion was denied on May 22, 2019. The motion was denied on May 22, 2019. As a result of the Court’s denial, only one of the six originally asserted patents is in dispute. The Company filed a motion for summary judgement for the remaining patent on September 18, 2019. The parties briefed the motion on November 19, 2019 and are waiting for Court’s resolution. The Court has not set a date for trial. In November 2017, Maquet filed a second action in D. Mass (the “2017 Action”) alleging that the Company’s Impella 2.5 ® ® ® In a series of letters during January and February 2019, Maquet informed the Company of seven new patent applications filed from the patents in the 2016 Action and 2017 Action with claims Maquet alleges would be infringed by the Impella® products if the new applications were to issue as patents. All seven applications issued as patents between February and July of 2019 and will expire in September 2020. One of the newly issued patents has been added to the 2017 Action. A Markman hearing for the newly-added patent was held on November 18, 2019. A Markman order has not been issued yet. Discovery remains ongoing. In the 2016 Action and 2017 Action, Maquet seeks injunctive relief and monetary damages in the form of a reasonable royalty, with three times the amount for alleged willful infringement. In its responses to the Company’s counterclaims, Maquet admits that its current commercially available products do not embody the claims of the asserted patents. The Company is unable to estimate the potential liability with respect to the legal matters noted above. There are numerous factors that make it difficult to meaningfully estimate possible loss or range of loss at this stage of the legal proceedings, including the significant number of legal and factual issues still to be resolved in the Maquet and Thoratec patent disputes. Securities Class Action Litigation On or about August 6, 2019, the Company received a securities class action complaint filed on behalf of a single shareholder in the U.S. District Court for the Southern District of New York (“SDNY”), on behalf of himself and persons or entities that purchased or acquired the Company’s securities between January 31, 2019 through July 31, 2019. On October 7, 2019, a similar purported class action complaint was filed by a different shareholder on behalf of himself and persons or entities that purchased or acquired the Company’s securities between November 1, 2018 and July 31, 2019. Also, on October 7, 2019, four shareholders filed applications to be appointed lead plaintiff and for their counsel to be appointed lead counsel for the class. Two of those shareholders also filed motions to consolidate the two cases. Since October 7, 2019, two of the shareholders have withdrawn their applications to be lead plaintiff. After the court selects one of the two remaining shareholders as lead plaintiff, that plaintiff is expected to file an amended complaint. The complaints allege that the Company violated Sections 10(b) and 20(a) of and Rule 10b-5 under the Exchange Act, in connection with allegedly misleading disclosures made by the Company regarding its financial condition and results of operations. The Company has reviewed and not yet responded to the complaints. The Company believes that the allegations are without merit and plans to defend itself vigorously. Shareholder Derivative Litigation On November 6 and 7, 2019, two shareholders filed derivative actions in SDNY that were subsequently consolidated. On November 8, 2019, another shareholder filed a derivative action in Massachusetts Suffolk County Superior Court. On January 7, 2020, another shareholder derivative action was filed in the U.S. District Court for the District of Delaware. The complaints in these actions rely on many of the same allegations as in the securities class actions, and assert that, between November 1, 2018 and July 31, 2019, the directors of the Company made or allowed to be made misleading public statements regarding the Company’s growth, ultimately harming the Company. The Company has agreed with plaintiffs in the consolidated SDNY and Delaware actions to stay those cases pending resolution of a motion to dismiss in the securities class actions, and is negotiating a similar stay with the plaintiff in the Massachusetts case. On January 27, 2020, the Delaware case was administratively closed and subject to reopening after resolution of a motion to dismiss in the securities class actions. The Company is unable to estimate the potential liability with respect to the legal matters noted above. There are numerous factors that make it difficult to estimate reasonably possible loss or range of loss at this stage of the legal proceedings, including the significant number of legal and factual issues still to be resolved in the securities class action litigation.

Segment and Enterprise Wide Dis

Segment and Enterprise Wide Disclosures	9 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Segment and Enterprise Wide Disclosures	Note 14. Segment and Enterprise Wide Disclosures The Company operates in one business segment: the research, development and sale of medical devices to assist or replace the pumping function of the failing heart. The Company’s chief operating decision maker (determined to be the Chief Executive Officer) does not manage any part of the Company separately, and the allocation of resources and assessment of performance are based on the Company’s consolidated operating results. International sales (meaning sales outside the U.S., primarily in Europe and Japan) accounted for 16% and 14% of total revenue for the three months ended December 31, 2019 and 2018, respectively, and 16% and 13% of total revenue for the nine months ended December 31, 2019 and 2018, respectively he Company’s long-lived assets are located in the U.S., except for $46.6 million and $43.4 million at December 31, 2019 and March 31, 2019, respectively, which are located primarily in Germany.

Basis of Preparation and Summ_2

Basis of Preparation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements Effective April 1, 2019, the Company adopted the Financial Accounting Standards Board, or FASB standard update ASU 2016-02 (“Topic 842”), “Leases,” which requires lessees with lease arrangements exceeding a one-year term to record a right-of-use asset and lease obligation on the balance sheet, whether operating or financing, and related lease expenses for operating leases and amortization and interest expense for financing leases in the statement of operations. Additional information and disclosures required by this standard are contained in “Note 8. Leases.”
Recently Issued Accounting Pronouncements Not Yet Effective	Recently Issued Accounting Pronouncements Not Yet Effective In June 2016, the FASB issued ASU 2016-13 (“Topic 326”), “Financial Instruments - Credit Losses” This new guidance will require financial instruments to be measured at amortized cost, and accounts receivables to be presented at the net amount expected to be collected. The new model requires an entity to estimate credit losses based on historical information, current information, and reasonable and supportable forecasts, including estimates of prepayments. ASU 2016-13 is effective for annual reporting periods beginning after December 31, 2019. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. ASU 2016-13 will become effective for the Company in fiscal 2021. In January 2017, the FASB issued ASU 2017-04, (“Topic 350”), “Intangibles - Goodwill and Other” This new guidance simplifies the accounting for goodwill impairment by removing Step 2 of the goodwill impairment test, which required companies to estimate the implied fair value of goodwill and recognize an impairment charge by the amount in which the carrying value exceeds the implied fair value. Under the new guidance, if the carrying value of a reporting unit exceeds its fair value, a goodwill impairment charge will be recorded, even if the difference is attributable to the fair value of other assets in the reporting unit. ASU 2017-04 is effective for annual reporting periods beginning after December 15, 2019. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements. ASU 2017-04 will become effective for the Company in fiscal 2021. In August 2018, the FASB issued ASU 2018-13 (“Topic 820”), “Fair Value Measurement” This new guidance modifies the disclosure requirements for fair value measurements. The Company has investments accounted for and disclosed under Topic 820 and will modify disclosures as applicable to conform with the new guidance. ASU 2018-13 is effective for annual reporting periods beginning after December 15, 2019 and early adoption is permitted. The Company does not expect the adoption of this standard and the required disclosure changes to have a material impact on its consolidated financial statements. ASU 2018-13 will become effective for the Company in fiscal 2021.
Leases	The Company adopted ASC Topic 842 on April 1, 2019 using the optional transition method. As such, the disclosures required under ASC Topic 842 are not presented for periods before the date of adoption. For the comparative period prior to adoption, the Company presents the disclosures which were previously required under ASC Topic 840. The Company elected the package of transitional practical expedients for leases existing prior to the adoption date. The Company did not reassess whether existing contracts are or contain leases, leases retained their historical lease classification and initial direct costs were not reassessed for capitalization under the new standard. Operating lease assets and operating lease liabilities were recognized based on the present value of minimum lease payments over the remaining lease term as of the adoption date. The following table presents supplemental balance sheet information related to our operating leases: December 31, 2019 (in $000's) Assets Operating lease right-of-use assets in other assets $ 11,455 Liabilities Operating lease liabilities in other current liabilities 3,115 Operating lease liabilities in other long-term liabilities 9,506 Total operating lease liabilities $ 12,621 Expense charged to operations under operating leases was $1.2 million and $3.2 million during the three and nine months ended December 31, 2019, respectively. Short-term lease expenses were not material. Under ASC Topic 840, Leases (“ASC 840”), the Company recognized rent expense on a straight-line basis over the term of the lease and recorded the difference between the amount charged to expense and the rent paid as prepaid rent or deferred rent liability. As of March 31, 2019, the amount of deferred rent was $0.3 million, which was subsequently reclassified as contra-asset against the ROU asset upon adoption of ASU No. 2016-02 on April 1, 2019. Maturities of operating lease liabilities as of December 31, 2019 are as follows: (in thousands, except lease term and discount rate) Fiscal Years Ended March 31, 2020 $ 895 2021 3,378 2022 2,561 2023 1,533 2024 1,442 Thereafter 3,322 Total minimum lease payments 13,131 Less: imputed interest (510 ) Present value of operating lease liabilities $ 12,621 Weighted average remaining lease term 5.59 Weighted average discount rate 3.23 % Minimum future lease payments previously disclosed under ASC 840 in our Annual Report on Form 10-K for the year ended March 31, 2019 were as follows: Fiscal Years Ended March 31, (in $000's) 2020 $ 3,398 2021 2,712 2022 2,000 2023 1,462 2024 1,414 Thereafter 3,288 Total minimum lease payments $ 14,274
Adoption of Topic 606, Revenue from Contracts with Customers	Adoption of Topic 606, Revenue from Contracts with Customers The Company adopted Topic 606 on April 1, 2018, using the modified retrospective method for all contracts not completed as of the date of adoption. The adoption of Topic 606 did not have a material impact on the Company’s consolidated balance sheet, statement of operations, stockholders’ equity or cash flows as of the adoption date or for the three and nine months ended December 31, 2019. The Company has made the following accounting policy elections and elected to use certain practical expedients, as permitted by the FASB, in applying Topic 606: (1) the Company accounts for amounts collected from customers for sales and other taxes, net of related amounts remitted to tax authorities; (2) the Company does not adjust the promised amount of consideration for the effects of a significant financing component because, at contract inception, the Company expects the period between the time when the Company transfers a promised good or service to the customer and the time when the customer pays for that good or service will be one year or less; (3) the Company expenses costs to obtain a contract as they are incurred if the expected period of benefit, and therefore the amortization period, is one year or less; (4) the Company accounts for shipping and handling activities that occur after control transfers to the customer as a fulfillment cost rather than an additional promised service and these fulfillment costs are recorded as selling, general and administrative expenses; (5) the Company does not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer; and (6) the Company does not disclose the transaction price allocated to unsatisfied performance obligations when the original expected contract duration is one year or less. The Company generates revenue primarily from the sale of Impella 2.5, Impella CP, Impella 5.0, Impella LD, Impella RP , Impella 5.5, and Impella AIC products. The Company also earns revenue from preventative maintenance service contracts and maintenance calls . The Company determines revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligation in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligation in the contract • Recognition of revenue when, or as, a performance obligation is satisfied

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Net Income Per Share	The Company’s basic and diluted net income per share for the three and nine months ended December 31, 2019 and 2018 were as follows (in thousands, except per share data): For the Three Months Ended December 31, For the Nine Months Ended December 31, Basic Net Income Per Share 2019 2018 2019 2018 Net income $ 69,217 $ 44,862 $ 171,211 $ 185,056 Weighted average shares - basic 45,140 45,046 45,225 44,852 Net income per share - basic $ 1.53 $ 1.00 $ 3.79 $ 4.13 For the Three Months Ended December 31, For the Nine Months Ended December 31, Diluted Net Income Per Share 2019 2018 2019 2018 Net income $ 69,217 44,862 171,211 185,056 Weighted average shares - basic 45,140 45,046 45,225 44,852 Effect of dilutive securities 555 1,090 710 1,295 Weighted average shares - diluted 45,695 46,136 45,935 46,147 Net income per share - diluted $ 1.51 $ 0.97 $ 3.73 $ 4.01

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Dec. 31, 2019
Revenue From Contract With Customer [Abstract]
Schedule of Categorizes Revenue by Major Business Line and Geographical Location	The following table categorizes the Company’s revenue by products and services: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) (in $000's) Impella product revenue $ 212,626 $ 193,253 $ 609,430 $ 542,198 Service and other revenue 8,958 7,310 24,795 20,153 Total revenue $ 221,584 $ 200,563 $ 634,225 $ 562,351 The following table categorizes the Company’s revenue by geographical location: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) (in $000's) U.S. revenue $ 185,569 $ 172,548 $ 533,070 $ 488,386 International revenue 36,015 28,015 101,155 73,965 Total revenue $ 221,584 $ 200,563 $ 634,225 $ 562,351

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Cash Equivalents and Marketable Securities by Balance Sheet Classification	Cash Equivalents, Marketable Securities The Company’s cash equivalents and marketable securities at December 31, 2019 and March 31, 2019 are classified on the balance sheet as follows: December 31, 2019 March 31, 2019 (in $000's) Cash equivalents $ 56,674 $ 80,089 Short-term marketable securities 309,569 370,677 Long-term marketable securities 167,981 21,718 $ 534,224 $ 472,484
Cash Equivalents and Marketable Securities	The Company’s cash equivalents and marketable securities at December 31, 2019 and March 31, 2019 are invested in the following: Amortized Gross Unrealized Gross Unrealized Fair Market Cost Gains Losses Value December 31, 2019: (in $000's) Money market funds $ 36,674 $ — $ — $ 36,674 Repurchase agreements 20,000 — — 20,000 Short-term U.S. Treasury mutual fund securities 37,158 23 — 37,181 Short-term government-backed securities 108,117 121 (11 ) 108,227 Short-term corporate debt securities 124,113 149 (4 ) 124,258 Short-term commercial paper 39,903 9 (9 ) 39,903 Long-term U.S. Treasury mutual fund securities 10,086 2 — 10,088 Long-term government-backed securities 71,963 46 (26 ) 71,983 Long-term corporate debt securities 85,348 562 — 85,910 $ 533,362 $ 912 $ (50 ) $ 534,224 Amortized Gross Unrealized Gross Unrealized Fair Market Cost Gains Losses Value March 31, 2019: (in $000's) Money market funds $ 60,089 $ — $ — $ 60,089 Repurchase agreements 20,000 — — 20,000 Short-term U.S. Treasury mutual fund securities 58,786 13 (12 ) 58,787 Short-term government-backed securities 126,336 60 (15 ) 126,381 Short-term corporate debt securities 128,626 97 (9 ) 128,714 Short-term commercial paper 56,780 16 (1 ) 56,795 Long-term corporate debt securities 21,529 189 — 21,718 $ 472,146 $ 375 $ (37 ) $ 472,484
Schedule of Cross-Currency Rate Swap Derivatives Agreement	The following table summarizes the terms of the cross-currency swap agreement as of December 31, 2019 (dollar amounts in thousands): December 31, 2019 Effective Date Maturity Fixed Rate Aggregate Notional Amount Pay EUR October 15, October 15, 2.75% EUR 85,000 Receive U.S.$ 2019 2024 4.64% USD 93,457
Schedule of Fair Value of Company's Derivative Instrument	The following table presents the notional amount and fair value of the Company’s derivative instrument as of December 31, 2019: December 31, 2019 Derivatives designated as hedging instruments under ASC 815 Balance Sheet classification Fair Value Cross-currency swap Other assets (long term liabilities) $ (3,278 )
Financial Instruments Measured at Fair Value	The following tables presents the Company’s fair value hierarchy for its financial instruments measured at fair value as of December 31, 2019 and March 31, 2019: Level 1 Level 2 Level 3 Total December 31, 2019: (in $000's) Assets Money market funds $ 36,674 $ — $ — $ 36,674 Repurchase agreements — 20,000 — 20,000 Short-term U.S. Treasury mutual fund securities — 37,181 — 37,181 Short-term government-backed securities — 108,227 — 108,227 Short-term corporate debt securities — 124,258 — 124,258 Short-term commercial paper — 39,903 — 39,903 Long-term U.S. Treasury mutual fund securities 10,088 — 10,088 Long-term government-backed securities — 71,983 — 71,983 Long-term corporate debt securities — 85,910 — 85,910 Investment in Shockwave Medical 73,735 — — 73,735 Liabilities Cross-currency swap agreement — 3,278 — 3,278 Contingent consideration — — 10,440 10,440 Level 1 Level 2 Level 3 Total March 31, 2019: (in $000's) Assets Money market funds $ 60,089 $ — $ — $ 60,089 Repurchase agreements — 20,000 — 20,000 Short-term U.S. Treasury mutual fund securities — 58,787 — 58,787 Short-term government-backed securities — 126,381 — 126,381 Short-term corporate debt securities — 128,714 — 128,714 Short-term commercial paper — 56,795 — 56,795 Long-term corporate debt securities — 21,718 — 21,718 Investment in Shockwave Medical 56,195 — — 56,195 Liabilities Contingent consideration — — 9,575 9,575
Valuation Method Used to Calculate Level 3 Liabilities Measured at Estimated Fair Value of Contingent Consideration Related to Acquisition	The Company’s contingent consideration liability is reported as Level 3 as the estimated fair value of the contingent consideration related to the acquisition of ECP requires significant management judgment or estimation and is calculated using the following valuation methods: Milestone Payment Fair Value at December 31, 2019 Valuation Methodology Significant Unobservable Input Weighted Average (range, if applicable) (in $000's) Clinical and regulatory milestone $ 7,000 $ 5,617 Probability weighted income approach Projected fiscal year of milestone payments 2021 to 2023 Discount rate 2.84% to 2.86% Probability of occurrence Probability adjusted level of 45% for the base case scenario and 15% to 40% for various downside and upside scenarios Revenue-based milestone 8,000 4,823 Monte Carlo simulation model Projected fiscal year of milestone payments 2025 to 2035 Discount rate 18% Expected volatility for forecasted revenues 50% Probability of payment (risk-neutral) 73.8% $ 15,000 $ 10,440
Change in Fair Value of Contingent Consideration as Determined by Level 3 Inputs	The following table summarizes the change in fair value, as determined by Level 3 inputs, of the contingent consideration for the three and nine months ended December 31, 2019 and 2018: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) Beginning balance $ 10,236 $ 10,331 $ 9,575 $ 10,490 Additions — — — — Payments — — — — Change in fair value 204 252 865 93 Ending balance $ 10,440 $ 10,583 $ 10,440 $ 10,583

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
	Dec. 31, 2019
Property Plant And Equipment [Abstract]
Components of Property and Equipment	The components of property and equipment are as follows: December 31, 2019 March 31, 2019 (in $000's) Land $ 7,261 $ 7,262 Building and building improvements 98,819 86,705 Leasehold improvements 14,150 2,190 Machinery and equipment 66,793 59,146 Furniture and fixtures 14,619 11,456 Construction in progress 13,148 17,946 Total cost 214,790 184,705 Accumulated depreciation (52,730 ) (39,700 ) Property and equipment, net $ 162,060 $ 145,005

Goodwill, In-Process Research_2

Goodwill, In-Process Research and Development and Other Assets (Tables)	9 Months Ended
	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Carrying Value of Goodwill and Change in Balance	The carrying value of goodwill and the change in the balance for the nine months ended December 31, 2019 are as follows: (in $000's) Balance, March 31, 2019 $ 32,601 Foreign currency translation impact (7 ) Balance, December 31, 2019 $ 32,594
Carrying value of In-Process Research and Development	The carrying value of the Company’s IPR&D assets and the change in the balance for the nine months ended December 31, 2019 are as follows: (in $000's) Balance, March 31, 2019 $ 15,208 Foreign currency translation impact (3 ) Balance, December 31, 2019 $ 15,205
Summary of Other Assets	Other assets are made of the following: December 31, 2019 March 31, 2019 (in $000's) Equity method and other investments $ 117,036 $ 80,779 Right of use asset - leases (Note 8) 11,455 — Other intangible assets and other assets 6,676 4,336 Total other assets $ 135,167 $ 85,115
Equity Method and Other Investments Classified as Other Assets	The following table summarizes the Company’s equity method and other investments as of December 31, 2019 and March 31, 2019, which are classified as December 31, 2019 March 31, 2019 (in $000's) Other investments $ 114,169 $ 80,779 Equity method investment 2,867 — Total equity and other investments $ 117,036 $ 80,779
Carrying value of Equity method and Other Investments	The carrying value of the Company’s portfolio of equity method and other investments and the change in the balance for the three and nine months ended December 31, 2019 and 2018 are as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) Beginning balance $ 81,836 $ 22,325 $ 80,779 $ 12,649 Additions 12,600 18,459 19,600 28,135 Disposals (750 ) — (750 ) — Change in fair value, net 23,350 — 17,407 — Ending balance $ 117,036 $ 40,784 $ 117,036 $ 40,784

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Supplemental Balance Sheet Information Related to Operating Leases	The following table presents supplemental balance sheet information related to our operating leases: December 31, 2019 (in $000's) Assets Operating lease right-of-use assets in other assets $ 11,455 Liabilities Operating lease liabilities in other current liabilities 3,115 Operating lease liabilities in other long-term liabilities 9,506 Total operating lease liabilities $ 12,621
Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities as of December 31, 2019 are as follows: (in thousands, except lease term and discount rate) Fiscal Years Ended March 31, 2020 $ 895 2021 3,378 2022 2,561 2023 1,533 2024 1,442 Thereafter 3,322 Total minimum lease payments 13,131 Less: imputed interest (510 ) Present value of operating lease liabilities $ 12,621 Weighted average remaining lease term 5.59 Weighted average discount rate 3.23 %
Minimum Future Lease Payments	Minimum future lease payments previously disclosed under ASC 840 in our Annual Report on Form 10-K for the year ended March 31, 2019 were as follows: Fiscal Years Ended March 31, (in $000's) 2020 $ 3,398 2021 2,712 2022 2,000 2023 1,462 2024 1,414 Thereafter 3,288 Total minimum lease payments $ 14,274

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Dec. 31, 2019
Payables And Accruals [Abstract]
Accrued Expenses	Accrued expenses consist of the following: December 31, 2019 March 31, 2019 (in $000's) Employee compensation $ 34,151 $ 32,926 Sales and income taxes 21,773 12,262 Research and development 4,702 3,309 Professional, legal, and accounting fees 3,361 2,757 Marketing 2,212 1,707 Warranty 1,698 1,272 Other 3,979 3,187 $ 71,876 $ 57,420

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Schedule of Share Repurchase Activity	The following table provides share repurchase activities: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 Shares repurchased 137,432 — 318,361 — Average price per share $ 181.94 — $ 188.08 — Value of shares repurchased (in millions) $ 25.0 — $ 59.9 —
Schedule of Accumulated Other Comprehensive Income (Loss)	The components of accumulated other comprehensive income (loss), are as follows (in thousands): Nine Months Ended December 31, 2019 Foreign Currency Items Unrealized Gains and Losses on Investments Gains and Losses on cash flow hedge Total Balance, April 1, 2019 (15,028 ) 339 — (14,689 ) Other comprehensive income (loss) 2,334 600 — 2,934 Balance, June 30, 2019 (12,694 ) 939 — (11,755 ) Other comprehensive income (loss) (5,716 ) (85 ) — (5,801 ) Balance, September 30, 2019 (18,410 ) 854 — (17,556 ) Other comprehensive income (loss) 1,945 8 (1,392 ) 561 Balance, December 31, 2019 $ (16,465 ) $ 862 $ (1,392 ) $ (16,995 ) Nine Months Ended December 31, 2018 Foreign Currency Items Unrealized Gains and Losses on Investments Gains and Losses on cash flow hedge Total Balance, April 1, 2018 (3,597 ) (607 ) — (4,204 ) Other comprehensive income (loss) (6,852 ) 143 — (6,709 ) Balance, June 30, 2018 (10,449 ) (464 ) — (10,913 ) Other comprehensive income (loss) (600 ) (22 ) — (622 ) Balance, September 30, 2018 (11,049 ) (486 ) — (11,535 ) Other comprehensive income (loss) (1,015 ) 234 — (781 ) Balance, December 31, 2018 $ (12,064 ) $ (252 ) $ - $ (12,316 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation Recognized	The following table summarizes stock-based compensation expense by financial statement line item in the Company’s condensed consolidated statements of operations for the three and nine months ended December 31, 2019 and 2018: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 (in $000's) Cost of product revenue $ 809 $ 773 $ 2,531 $ 2,122 Research and development 1,586 2,638 5,292 7,222 Selling, general and administrative 8,179 12,167 29,196 34,413 $ 10,574 $ 15,578 $ 37,019 $ 43,757
Summary of Stock Option Activity	The following table summarizes the stock option activity for the nine months ended December 31, 2019: Weighted Weighted Average Aggregate Average Remaining Intrinsic Options Exercise Contractual Value (in thousands) Price Term (years) (in thousands) Outstanding at beginning of period 853 $ 87.14 5.57 Granted 117 259.52 Exercised (65 ) 48.67 Cancelled and expired (14 ) 235.87 Outstanding at end of period 891 $ 110.27 5.46 $ 79,843 Exercisable at end of period 668 $ 62.60 4.39 $ 77,717 Options vested and expected to vest at end of period 888 $ 110.28 5.46 $ 79,672
Summary of Weighted Average Grant-Date Fair Values And Weighted Average Assumptions Used to Calculate Fair Value of Options Granted	The weighted average grant-date fair values and weighted average assumptions used in the calculation of fair value of options granted during the three and nine months ended December 31, 2019 and 2018 was as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 Weighted average grant-date fair value $ 74.61 $ 117.50 $ 93.68 $ 142.08 Valuation assumptions: Risk-free interest rate 1.68 % 2.81 % 1.99 % 2.93 % Expected option life (years) 4.10 4.04 4.14 4.04 Expected volatility 42.36 % 45.2 % 42.34 % 42.8 %
Summary of Restricted Stock Units Activity	The following table summarizes activity of restricted stock units for the nine months ended December 31, 2019: Number of Shares Weighted Average Grant Date Fair Value (in thousands) (per share) Restricted stock units at beginning of period 620 $ 193.53 Granted 159 260.13 Vested (391 ) 144.39 Forfeited (65 ) 307.40 Restricted stock units at end of period 323 $ 264.48

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Differences Between Statutory Income Tax Rate and Effective Income Tax Rate	The significant differences between the statutory income tax rate and effective income tax rate for the three and nine months ended December 31, 2019 and 2018 were as follows: For the Three Months Ended December 31, For the Nine Months Ended December 31, 2019 2018 2019 2018 Statutory income tax rate 21.0 % 21.0 % 21.0 % 21.0 % Increase (decrease) resulting from: — Excess tax benefits from stock-based awards (0.5 ) (2.6 ) (6.3 ) (41.5 ) Credits (1.6 ) (1.7 ) (1.6 ) (1.7 ) State taxes, net 3.3 4.3 3.3 4.3 Permanent differences 1.8 1.8 1.8 1.8 Excess foreign tax credits 4.0 7.9 2.7 3.7 Other 0.7 (0.2 ) 0.4 0.1 Effective tax rate 28.7 % 30.5 % 21.3 % (12.3 ) %

Computation of Basic and Dilute

Computation of Basic and Diluted Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Basic Net Income Per Share
Net income	$ 69,217	$ 13,071	$ 88,923	$ 44,862	$ 50,127	$ 90,066	$ 171,211	$ 185,056
Weighted average shares - basic	45,140			45,046			45,225	44,852
Net income per share - basic	$ 1.53			$ 1			$ 3.79	$ 4.13
Diluted Net Income Per Share
Net income	$ 69,217	$ 13,071	$ 88,923	$ 44,862	$ 50,127	$ 90,066	$ 171,211	$ 185,056
Weighted average shares - basic	45,140			45,046			45,225	44,852
Effect of dilutive securities	555			1,090			710	1,295
Weighted average shares - diluted	45,695			46,136			45,935	46,147
Net income per share - diluted	$ 1.51			$ 0.97			$ 3.73	$ 4.01

Net Income Per Share - Addition

Net Income Per Share - Additional Information (Detail) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shares excluded from the calculation of diluted weighted average shares outstanding	0.3	0.2	0.2	0.2

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Categorizes Revenue by Major Business Line (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Table]
Total revenue	$ 221,584	$ 200,563	$ 634,225	$ 562,351
U.S.
Disaggregation Of Revenue [Table]
Total revenue	185,569	172,548	533,070	488,386
International
Disaggregation Of Revenue [Table]
Total revenue	36,015	28,015	101,155	73,965
Impella Product
Disaggregation Of Revenue [Table]
Total revenue	212,626	193,253	609,430	542,198
Service and Other
Disaggregation Of Revenue [Table]
Total revenue	$ 8,958	$ 7,310	$ 24,795	$ 20,153

Revenue Recognition - Terms - A

Revenue Recognition - Terms - Additional Information (Detail)	9 Months Ended
	Dec. 31, 2019
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers, performance obligation term	1 year
Contract with customer payment terms, description	Payment terms vary by contract type and type of customer and generally range from 30 to 60 days for direct sales customers. Payment terms with certain international distributors can range from 60 to 120 days. The Company’s contracts with customers do not typically include extended payment terms.
Minimum | Direct Sales Customers
Disaggregation Of Revenue [Line Items]
Contract with customer payment terms, period	30 days
Minimum | International Distributors
Disaggregation Of Revenue [Line Items]
Contract with customer payment terms, period	60 days
Maximum | Direct Sales Customers
Disaggregation Of Revenue [Line Items]
Contract with customer payment terms, period	60 days
Maximum | International Distributors
Disaggregation Of Revenue [Line Items]
Contract with customer payment terms, period	120 days

Revenue Recognition - Deferred

Revenue Recognition - Deferred Revenue - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Mar. 31, 2019
Revenue From Contract With Customer [Abstract]
Deferred revenue	$ 19,156	$ 19,156	$ 16,393
Deferred Revenue, Revenue Recognized	$ 2,300	$ 15,000

Cash Equivalents and Marketable

Cash Equivalents and Marketable Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Cash equivalents	$ 56,674	$ 80,089
Short-term marketable securities	309,569	370,677
Long-term marketable securities	167,981	21,718
Total cash and marketable securities	$ 534,224	$ 472,484

Investable Cash Equivalents and

Investable Cash Equivalents and Marketable Securities (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	$ 533,362	$ 472,146
Gross Unrealized Gains	912	375
Gross Unrealized Losses	(50)	(37)
Fair Market Value	534,224	472,484
Repurchase Agreement
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	20,000	20,000
Fair Market Value	20,000	20,000
Money Market Funds
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	36,674	60,089
Fair Market Value	36,674	60,089
Commercial Paper | Short-term Investments
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	39,903	56,780
Gross Unrealized Gains	9	16
Gross Unrealized Losses	(9)	(1)
Fair Market Value	39,903	56,795
U.S. Treasury mutual fund securities | Short-term Investments
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	37,158	58,786
Gross Unrealized Gains	23	13
Gross Unrealized Losses		(12)
Fair Market Value	37,181	58,787
U.S. Treasury mutual fund securities | Long-term Investments
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	10,086
Gross Unrealized Gains	2
Fair Market Value	10,088
Government-backed securities | Short-term Investments
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	108,117	126,336
Gross Unrealized Gains	121	60
Gross Unrealized Losses	(11)	(15)
Fair Market Value	108,227	126,381
Government-backed securities | Long-term Investments
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	71,963
Gross Unrealized Gains	46
Gross Unrealized Losses	(26)
Fair Market Value	71,983
Corporate Debt Securities | Short-term Investments
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	124,113	128,626
Gross Unrealized Gains	149	97
Gross Unrealized Losses	(4)	(9)
Fair Market Value	124,258	128,714
Corporate Debt Securities | Long-term Investments
Total Cash Equivalents and Marketable Securities [Line Items]
Amortized Cost	85,348	21,529
Gross Unrealized Gains	562	189
Fair Market Value	$ 85,910	$ 21,718

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) € in Millions, $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Jul. 31, 2014USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)	Oct. 30, 2019EUR (€)
ECP Entwicklungsgesellschaft mbH and AIS GmbH Aachen Innovative Solutions
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Payments to acquire businesses, cash paid	$ 13
Potential payouts payments	$ 15
Intercompany Agreement [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Loans to subsidiaries | €					€ 85
Cross-currency swap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative notional amount		$ 93.5	$ 93.5	€ 85
Other income, net		$ 0.4	$ 0.4

Schedule of Cross-Currency Rate

Schedule of Cross-Currency Rate Swap Derivatives (Detail) € in Thousands, $ in Thousands	9 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019EUR (€)
Pay EUR
Effective Date	Oct. 15, 2019
Maturity	Oct. 15, 2024
Fixed Rate	2.75%	2.75%
Derivative notional amount | €		€ 85,000
Receive U.S $
Effective Date	Oct. 15, 2019
Maturity	Oct. 15, 2024
Fixed Rate	4.64%	4.64%
Derivative notional amount | $	$ 93,457

Schedule of Fair Value of Compa

Schedule of Fair Value of Company's Derivative Instrument (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Cross-currency swap | Other assets (long term liabilities)
Derivatives Fair Value [Line Items]
Fair Value	$ (3,278)

Financial Instruments Measured

Financial Instruments Measured at Fair Value (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	$ 534,224	$ 472,484
Contingent consideration	10,440	9,575
Cross-currency swap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value	3,278
Repurchase Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	20,000	20,000
Shockwave Medical
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	73,735	56,195
Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	36,674	60,089
Commercial Paper | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	39,903	56,795
Level 1 | Shockwave Medical
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	73,735	56,195
Level 1 | Money Market Funds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	36,674	60,089
Level 2 | Cross-currency swap
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair Value	3,278
Level 2 | Repurchase Agreement
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	20,000	20,000
Level 2 | Commercial Paper | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	39,903	56,795
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Contingent consideration	10,440	9,575
U.S. Treasury mutual fund securities | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	37,181	58,787
U.S. Treasury mutual fund securities | Long-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	10,088
U.S. Treasury mutual fund securities | Level 2 | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	37,181	58,787
U.S. Treasury mutual fund securities | Level 2 | Long-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	10,088
Government-backed securities | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	108,227	126,381
Government-backed securities | Long-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	71,983
Government-backed securities | Level 2 | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	108,227	126,381
Government-backed securities | Level 2 | Long-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	71,983
Corporate Debt Securities | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	124,258	128,714
Corporate Debt Securities | Long-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	85,910	21,718
Corporate Debt Securities | Level 2 | Short-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	124,258	128,714
Corporate Debt Securities | Level 2 | Long-term Investments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	$ 85,910	$ 21,718

Valuation Method Used to Calcul

Valuation Method Used to Calculate Level 3 Liabilities Measured at Estimated Fair Value of Contingent Consideration Related to Acquisition (Detail) $ in Thousands	9 Months Ended
	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	$ 10,440	$ 9,575
ECP Entwicklungsgesellschaft mbH | Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Alternative investment, measurement input	0.21
Level 3
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Contingent consideration	$ 10,440	$ 9,575
Level 3 | ECP Entwicklungsgesellschaft mbH
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Milestone Payment	15,000
Contingent consideration	10,440
Level 3 | ECP Entwicklungsgesellschaft mbH | Probability weighted income approach | Clinical and regulatory milestone
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Milestone Payment	7,000
Contingent consideration	$ 5,617
Level 3 | ECP Entwicklungsgesellschaft mbH | Probability weighted income approach | Clinical and regulatory milestone | Contingent Consideration | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Projected fiscal year of milestone payments	2021
Level 3 | ECP Entwicklungsgesellschaft mbH | Probability weighted income approach | Clinical and regulatory milestone | Contingent Consideration | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Projected fiscal year of milestone payments	2023
Level 3 | ECP Entwicklungsgesellschaft mbH | Probability weighted income approach | Clinical and regulatory milestone | Various Downside and Upside Scenarios | Contingent Consideration | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Probability of occurrence	15.00%
Level 3 | ECP Entwicklungsgesellschaft mbH | Probability weighted income approach | Clinical and regulatory milestone | Various Downside and Upside Scenarios | Contingent Consideration | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Probability of occurrence	40.00%
Level 3 | ECP Entwicklungsgesellschaft mbH | Probability weighted income approach | Clinical and regulatory milestone | Base Case Scenario | Contingent Consideration
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Probability of occurrence	45.00%
Level 3 | ECP Entwicklungsgesellschaft mbH | Probability weighted income approach | Clinical and regulatory milestone | Discount Rate | Contingent Consideration | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Alternative investment, measurement input	0.0284
Level 3 | ECP Entwicklungsgesellschaft mbH | Probability weighted income approach | Clinical and regulatory milestone | Discount Rate | Contingent Consideration | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Alternative investment, measurement input	0.0286
Level 3 | ECP Entwicklungsgesellschaft mbH | Monte Carlo simulation model | Revenue-based milestone
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Milestone Payment	$ 8,000
Contingent consideration	$ 4,823
Level 3 | ECP Entwicklungsgesellschaft mbH | Monte Carlo simulation model | Revenue-based milestone | Contingent Consideration
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Probability of payment (risk neutral)	73.80%
Level 3 | ECP Entwicklungsgesellschaft mbH | Monte Carlo simulation model | Revenue-based milestone | Contingent Consideration | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Projected fiscal year of milestone payments	2025
Level 3 | ECP Entwicklungsgesellschaft mbH | Monte Carlo simulation model | Revenue-based milestone | Contingent Consideration | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Projected fiscal year of milestone payments	2035
Level 3 | ECP Entwicklungsgesellschaft mbH | Monte Carlo simulation model | Revenue-based milestone | Discount Rate | Contingent Consideration
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Alternative investment, measurement input	0.18
Level 3 | ECP Entwicklungsgesellschaft mbH | Monte Carlo simulation model | Revenue-based milestone | Measurement Input, Price Volatility | Contingent Consideration
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Alternative investment, measurement input	0.50

Change in Fair Value of Conting

Change in Fair Value of Contingent Consideration as Determined by Level 3 Inputs (Detail) - Contingent Consideration - ECP Entwicklungsgesellschaft mbH - Level 3 - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Beginning balance	$ 10,236	$ 10,331	$ 9,575	$ 10,490
Additions	0	0	0	0
Payments	0	0	0	0
Change in fair value	204	252	865	93
Ending balance	$ 10,440	$ 10,583	$ 10,440	$ 10,583

Components of Property and Equi

Components of Property and Equipment (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Property Plant And Equipment [Abstract]
Land	$ 7,261	$ 7,262
Building and building improvements	98,819	86,705
Leasehold improvements	14,150	2,190
Machinery and equipment	66,793	59,146
Furniture and fixtures	14,619	11,456
Construction in progress	13,148	17,946
Total cost	214,790	184,705
Accumulated depreciation	(52,730)	(39,700)
Property and equipment, net	$ 162,060	$ 145,005

Goodwill, In-Process Research_3

Goodwill, In-Process Research and Development and Other Assets - Additional Information (Detail)	3 Months Ended	9 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2019USD ($)	Mar. 31, 2019USD ($)
Goodwill [Line Items]
Goodwill	$ 32,594,000	$ 32,594,000	$ 32,601,000
Accumulated impairment loss, goodwill	0	0
In-process research and development	15,205,000	15,205,000	15,208,000
Accumulated impairment losses on IPR&D assets	0	0
Equity method investment	2,867,000	2,867,000
Loss pertaining to equity method investment.	100,000	100,000
Aggregate carrying amount of other investments	114,169,000	114,169,000	80,779,000
Other intangible assets and other assets	6,676,000	6,676,000	4,336,000
License Manufacturing Rghts to Technology
Goodwill [Line Items]
Other intangible assets and other assets	4,100,000	$ 4,100,000
Other Intangible Assets
Goodwill [Line Items]
Intangible asset, amortized useful life		15 years
Shockwave Medical
Goodwill [Line Items]
Investment in affiliate			25,000,000
Fair value of investment	73,700,000	$ 73,700,000	56,200,000
Pre-tax unrealized gain on investment	23,500,000	17,500,000
Medical Device Companies
Goodwill [Line Items]
Equity method investment	3,000,000	3,000,000
Aggregate carrying amount of other investments	16,600,000	16,600,000
ECP Entwicklungsgesellschaft mbH
Goodwill [Line Items]
In-process research and development	$ 15,200,000	$ 15,200,000	$ 15,200,000
ECP Entwicklungsgesellschaft mbH | Measurement Input, Discount Rate
Goodwill [Line Items]
Fair value inputs, discount rate	0.21	0.21

Carrying Value of Goodwill and

Carrying Value of Goodwill and Change in Balance (Detail) $ in Thousands	9 Months Ended
	Dec. 31, 2019USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 32,601
Foreign currency translation impact	(7)
Ending balance	$ 32,594

Carrying value of In-Process Re

Carrying value of In-Process Research and Development (Detail) $ in Thousands	9 Months Ended
	Dec. 31, 2019USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 15,208
Foreign currency translation impact	(3)
Ending balance	$ 15,205

Summary of Other Assets (Detail

Summary of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018
Other Assets [Abstract]
Equity method and other investments	$ 117,036	$ 81,836	$ 80,779	$ 40,784	$ 22,325	$ 12,649
Right of use asset - leases	11,455
Other intangible assets and other assets	6,676		4,336
Total other assets	$ 135,167		$ 85,115

Equity Method and Other Investm

Equity Method and Other Investments Classified as Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018
Long Term Investments [Abstract]
Other investments	$ 114,169		$ 80,779
Equity method investment	2,867
Total equity and other investments	$ 117,036	$ 81,836	$ 80,779	$ 40,784	$ 22,325	$ 12,649

Carrying value of Equity Method

Carrying value of Equity Method and Other Investments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Beginning balance	$ 81,836	$ 22,325	$ 80,779	$ 12,649
Additions	12,600	18,459	19,600	28,135
Disposals	(750)		(750)
Change in fair value, net	23,350		17,407
Ending balance	$ 117,036	$ 40,784	$ 117,036	$ 40,784

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information Related to Operating Leases (Detail) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
Operating lease right-of-use assets in other assets	$ 11,455
Operating lease liabilities in other current liabilities	3,115
Operating lease liabilities in other long-term liabilities	9,506
Total operating lease liabilities	$ 12,621

Leases - Additional Information

Leases - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Mar. 31, 2019
Leases [Abstract]
Operating lease expense	$ 1.2	$ 3.2
Deferred rent			$ 0.3

Maturities of Operating Lease L

Maturities of Operating Lease Liabilities (Details) $ in Thousands	Dec. 31, 2019USD ($)
Leases [Abstract]
2020	$ 895
2021	3,378
2022	2,561
2023	1,533
2024	1,442
Thereafter	3,322
Total minimum lease payments	13,131
Less: imputed interest	(510)
Present value of operating lease liabilities	$ 12,621
Weighted average remaining lease term	5 years 7 months 2 days
Weighted average discount rate	3.23%

Minimum Future Lease Payments (

Minimum Future Lease Payments (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Leases [Abstract]
2020	$ 3,398
2021	2,712
2022	2,000
2023	1,462
2024	1,414
Thereafter	3,288
Total minimum lease payments	$ 14,274

Accrued Expenses (Detail)

Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Payables and Accruals [Abstract]
Employee compensation	$ 34,151	$ 32,926
Sales and income taxes	21,773	12,262
Research and development	4,702	3,309
Professional, legal, and accounting fees	3,361	2,757
Marketing	2,212	1,707
Warranty	1,698	1,272
Other	3,979	3,187
Accrued expenses	$ 71,876	$ 57,420

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2019	Aug. 31, 2019
Stockholders Equity Note [Abstract]
Stock repurchase program, authorized amount				$ 200,000
Shares repurchased (in shares)	137,432		318,361
Shares repurchased, value	$ 25,002	$ 34,874	$ 59,900
Stock repurchase program, remaining authorized repurchase amount	$ 140,100		$ 140,100

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Share Repurchase Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2019
Stockholders Equity Note [Abstract]
Shares repurchased (in shares)	137,432		318,361
Average price per share	$ 181.94		$ 188.08
Shares repurchased, value	$ 25,002	$ 34,874	$ 59,900

Stockholders' Equity - Schedu_2

Stockholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018
Shareholders Equity [Line Items]
Beginning Balance	$ 991,457	$ 1,002,593	$ 936,890	$ 792,954	$ 723,359	$ 689,524
Ending Balance	1,046,863	991,457	1,002,593	851,530	792,954	723,359
Foreign Currency Items
Shareholders Equity [Line Items]
Beginning Balance	(18,410)	(12,694)	(15,028)	(11,049)	(10,449)	(3,597)
Other comprehensive income (loss)	1,945	(5,716)	2,334	(1,015)	(600)	(6,852)
Ending Balance	(16,465)	(18,410)	(12,694)	(12,064)	(11,049)	(10,449)
Unrealized Gains and Losses on investments
Shareholders Equity [Line Items]
Beginning Balance	854	939	339	(486)	(464)	(607)
Other comprehensive income (loss)	8	(85)	600	234	(22)	143
Ending Balance	862	854	939	(252)	(486)	(464)
Gains and Losses on Cash Flow Hedges
Shareholders Equity [Line Items]
Other comprehensive income (loss)	(1,392)
Ending Balance	(1,392)
Accumulated Other Comprehensive Loss
Shareholders Equity [Line Items]
Beginning Balance	(17,556)	(11,755)	(14,689)	(11,535)	(10,913)	(4,204)
Other comprehensive income (loss)	561	(5,801)	2,934	(781)	(622)	(6,709)
Ending Balance	$ (16,995)	$ (17,556)	$ (11,755)	$ (12,316)	$ (11,535)	$ (10,913)

Stock-Based Compensation Recogn

Stock-Based Compensation Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 10,574	$ 15,578	$ 37,019	$ 43,757
Cost of product revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	809	773	2,531	2,122
Research and development
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	1,586	2,638	5,292	7,222
Selling, general and administrative
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation	$ 8,179	$ 12,167	$ 29,196	$ 34,413

Summary of Stock Option Activit

Summary of Stock Option Activity (Detail) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2019$ / sharesshares
Options
Outstanding at beginning of period | shares	853
Granted | shares	117
Exercised | shares	(65)
Cancelled and expired | shares	(14)
Outstanding at end of period | shares	891	853
Exercisable at end of period | shares	668
Options vested and expected to vest at end of period | shares	888
Weighted Average Exercise Price
Outstanding at beginning of period | $ / shares	$ 87.14
Granted | $ / shares	259.52
Exercised | $ / shares	48.67
Cancelled and expired | $ / shares	235.87
Outstanding at end of period | $ / shares	110.27	$ 87.14
Exercisable at end of period | $ / shares	62.60
Options vested and expected to vest at end of period | $ / shares	$ 110.28
Weighted Average Remaining Contractual Term (years)
Outstanding	5 years 5 months 15 days	5 years 6 months 25 days
Exercisable at end of period	4 years 4 months 20 days
Options vested and expected to vest at end of period	5 years 5 months 15 days
Aggregate Intrinsic Value
Outstanding at end of period | $	$ 79,843
Exercisable at end of period | $	77,717
Options vested and expected to vest at end of period | $	$ 79,672

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	9 Months Ended
	May 31, 2019	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Aggregate intrinsic value of options exercised in period		$ 12,200
Proceeds from the exercise of stock options		3,165	$ 11,043
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock-based compensation expense		$ 15,200
Unrecognized stock-based compensation expense, estimated weighted-average recognition period		2 years
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		3 years
Unrecognized stock-based compensation expense		$ 41,100
Unrecognized stock-based compensation expense, estimated weighted-average recognition period		1 year 9 months 18 days
Weighted average grant-date fair value		$ 260.13
Fair value of units vested		$ 99,100
Restricted share unit issued		159,000
Performance Based Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted share unit issued	196,580

Summary of Weighted Average Gra

Summary of Weighted Average Grant-Date Fair Values And Weighted Average Assumptions Used to Calculate Fair Value of Options Granted (Detail) - Stock Options - $ / shares	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant-date fair value	$ 74.61	$ 117.50	$ 93.68	$ 142.08
Valuation assumptions:
Risk-free interest rate	1.68%	2.81%	1.99%	2.93%
Expected option life (years)	4 years 1 month 6 days	4 years 14 days	4 years 1 month 20 days	4 years 14 days
Expected volatility	42.36%	45.20%	42.34%	42.80%

Summary of Restricted Stock Uni

Summary of Restricted Stock Units Activity (Detail) - Restricted Stock Units shares in Thousands	9 Months Ended
	Dec. 31, 2019$ / sharesshares
Number of Shares
Beginning Balance | shares	620
Granted | shares	159
Vested | shares	(391)
Forfeited | shares	(65)
Ending Balance | shares	323
Weighted Average Grant Date Fair Value
Beginning Balance | $ / shares	$ 193.53
Granted | $ / shares	260.13
Vested | $ / shares	144.39
Forfeited | $ / shares	307.40
Ending Balance | $ / shares	$ 264.48

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Income tax provision (benefit)	$ 27,799	$ 19,648	$ 46,301	$ (20,225)
Effective income tax rate	28.70%	30.50%	21.30%	(12.30%)
Excess tax benefits from stock-based awards	$ 500	$ 1,700	$ 13,800	$ 68,500

Differences Between Statutory I

Differences Between Statutory Income Tax Rate and Effective Income Tax Rate (Detail)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Statutory income tax rate	21.00%	21.00%	21.00%	21.00%
Excess tax benefits from stock-based awards	(0.50%)	(2.60%)	(6.30%)	(41.50%)
Credits	(1.60%)	(1.70%)	(1.60%)	(1.70%)
State taxes, net	3.30%	4.30%	3.30%	4.30%
Permanent differences	1.80%	1.80%	1.80%	1.80%
Excess foreign tax credits	4.00%	7.90%	2.70%	3.70%
Other	0.70%	(0.20%)	0.40%	0.10%
Effective tax rate	28.70%	30.50%	21.30%	(12.30%)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended
	May 31, 2016
Patent One
Commitments and Contingencies [Line Items]
Patent expiration period	2020-09
Patent Two
Commitments and Contingencies [Line Items]
Patent expiration period	2020-12
Patent Three
Commitments and Contingencies [Line Items]
Patent expiration period	2021-10

Segment and Enterprise Wide D_2

Segment and Enterprise Wide Disclosures - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018	Dec. 31, 2019USD ($)Segment	Dec. 31, 2018	Mar. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Number of business segments | Segment			1
International
Segment Reporting Information [Line Items]
Long-lived assets | $	$ 46.6		$ 46.6		$ 43.4
Customer Concentration Risk | Revenue | International
Segment Reporting Information [Line Items]
Percentage of revenue accounted	16.00%	14.00%	16.00%	13.00%