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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2023

Income Tax Disclosure [Abstract]

Components Of Income Before Provision For (Benefit From) Income Taxes

The components of our income before provision for income taxes for the fiscal years ended March 31, 2023, 2022 and 2021 are as follows (in millions):

			Year Ended March 31,
			2023						2022						2021
Domestic			$	315					$	204					$	299
Foreign			1,011						877						718
Income before provision for income taxes			$	1,326					$	1,081					$	1,017

Provision For (Benefit From) Income Taxes

Provision for income taxes for the fiscal years ended March 31, 2023, 2022 and 2021 consisted of (in millions):

			Current						Deferred						Total
Year Ended March 31, 2023
Federal			$	570					$	(339)					$	231
State			92						(76)						16
Foreign			75						202						277
			$	737					$	(213)					$	524
Year Ended March 31, 2022
Federal			$	203					$	(190)					$	13
State			36						(26)						10
Foreign			381						(112)						269
			$	620					$	(328)					$	292
Year Ended March 31, 2021
Federal			$	251					$	(26)					$	225
State			24						(2)						22
Foreign			47						(114)						(67)
			$	322					$	(142)					$	180

Schedule Of Differences Between Statutory Tax Rate And Effective Tax Rate

The differences between the statutory tax rate and our effective tax rate, expressed as a percentage of income before provision for income taxes, for the fiscal years ended March 31, 2023, 2022 and 2021 were as follows:

			Year Ended March 31,
			2023						2022						2021
Statutory federal tax expense rate			21.0		%				21.0		%				21.0		%
State taxes, net of federal benefit			1.1		%				1.9		%				1.7		%
Differences between statutory rate and foreign effective tax rate			7.6		%				6.8		%				7.0		%
Excess tax benefit from equity compensation			(0.3)		%				(1.2)		%				(2.7)		%
Research and development credits			(3.0)		%				(2.8)		%				(2.4)		%
Swiss valuation allowance			8.9		%				2.7		%				(10.1)		%
Acquired IP intra-entity sales			—		%				(5.9)		%				—		%
Non-deductible stock-based compensation			3.2		%				3.8		%				3.3		%
Other			1.0		%				0.7		%				(0.1)		%
Effective tax rate			39.5		%				27.0		%				17.7		%

Deferred Tax Assets And Liabilities

The components of net deferred tax assets, as of March 31, 2023 and 2022 consisted of (in millions):

			As of March 31,
			2023						2022
Deferred tax assets:
Accruals, reserves and other expenses			$	197					$	185
Tax credit carryforwards			218						198
Research and development capitalization			461						66
Stock-based compensation			39						43
Net operating loss and capital loss carryforwards			371						349
Swiss intra-entity tax asset			1,665						1,782
Total			2,951						2,623
Valuation allowance			(446)						(296)
Deferred tax assets, net of valuation allowance			2,505						2,327
Deferred tax liabilities:
Amortization and depreciation			(41)						(79)
Other			(3)						(7)
Total			(44)						(86)
Deferred tax assets, net of valuation allowance and deferred tax liabilities			$	2,461					$	2,241

Schedule Of Unrecognized Tax Benefits

A reconciliation of the beginning and ending balance of unrecognized tax benefits is summarized as follows (in millions):

Balance as of March 31, 2020			$	983
Increases in unrecognized tax benefits related to prior year tax positions			12
Decreases in unrecognized tax benefits related to prior year tax positions			(444)
Increases in unrecognized tax benefits related to current year tax positions			55
Decreases in unrecognized tax benefits related to settlements with taxing authorities			(2)
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations			(27)
Changes in unrecognized tax benefits due to foreign currency translation			7
Balance as of March 31, 2021			584
Increases in unrecognized tax benefits related to prior year tax positions			5
Decreases in unrecognized tax benefits related to prior year tax positions			(21)
Increases in unrecognized tax benefits related to current year tax positions			139
Decreases in unrecognized tax benefits related to settlements with taxing authorities			(50)
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations			(18)
Changes in unrecognized tax benefits due to foreign currency translation			(3)
Balance as of March 31, 2022			636
Increases in unrecognized tax benefits related to current year tax positions			245
Decreases in unrecognized tax benefits related to settlements with taxing authorities			(2)
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations			(6)
Changes in unrecognized tax benefits due to foreign currency translation			(6)
Balance as of March 31, 2023			$	867

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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