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Balance Sheet Details
 6 Months Ended
Sep. 30, 2022
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Details
(8) BALANCE SHEET DETAILS
Property and Equipment, Net
Property and equipment, net, as of September 30, 2022 and March 31, 2022 consisted of (in millions):
As of
September 30, 2022
As of
March 31, 2022
Computer, equipment and software$861 $853 
Buildings364 375 
Leasehold improvements179 202 
Equipment, furniture and fixtures, and other86 95 
Land66 66 
Construction in progress11 30 
1,567 1,621 
Less: accumulated depreciation(1,036)(1,071)
Property and equipment, net$531 $550 
Depreciation expense associated with property and equipment was $45 million and $89 million for the three and six months ended September 30, 2022, respectively.
Depreciation expense associated with property and equipment was $$39 million and $$79 million for the three and six months ended September 30, 2021, respectively.
Other Current Assets
Other current assets as of September 30, 2022 and March 31, 2022 consisted of (in millions):
As of
September 30, 2022
As of
March 31, 2022
Fair value of hedging contracts$287 $61 
Prepaids and deposits242 239 
Other 120 139 
Total other current assets$649 $439 
Accrued and Other Current Liabilities
Accrued and other current liabilities as of September 30, 2022 and March 31, 2022 consisted of (in millions):
As of
September 30, 2022
As of
March 31, 2022
Other accrued expenses$355 $304 
Accrued compensation and benefits282 500 
Accrued royalties141 203 
Sales returns and price protection reserves68 144 
Deferred net revenue (other)111 156 
Operating lease liabilities77 81 
Accrued and other current liabilities$1,034 $1,388 
Deferred net revenue (other) includes the deferral of licensing arrangements, subscription revenue, and other revenue for which revenue recognition criteria has not been met.
Deferred net revenue
Deferred net revenue as of September 30, 2022 and March 31, 2022 consisted of (in millions):
As of
September 30, 2022
As of
March 31, 2022
Deferred net revenue (online-enabled games)$1,391 $2,024 
Deferred net revenue (other)111 156 
Deferred net revenue (noncurrent)55 68 
Total deferred net revenue$1,557 $2,248 
During the six months ended September 30, 2022 and 2021, we recognized $1,951 million and $1,504 million of revenue, respectively, that were included in the deferred net revenue balance at the beginning of the period.
Remaining Performance Obligations
As of September 30, 2022, revenue allocated to remaining performance obligations consists of our deferred revenue balance of $1,557 million and amounts to be invoiced in future periods of $34 million, of which $24 million are expected to be recognized as revenue over the next 12 months, and the remainder thereafter. These balances exclude any estimates for future variable consideration as we have elected the optional exemption to exclude sales-based royalty revenue.