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Balance Sheet Details
 3 Months Ended
Jun. 30, 2024
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Details BALANCE SHEET DETAILS
Property and Equipment, Net
Property and equipment, net, as of June 30, 2024 and March 31, 2024 consisted of (in millions):
As of
June 30, 2024
As of
March 31, 2024
Computer, equipment and software$960 $965 
Buildings375 376 
Leasehold improvements212 190 
Equipment, furniture and fixtures, and other101 92 
Land67 67 
Construction in progress23 47 
1,738 1,737 
Less: accumulated depreciation(1,180)(1,159)
Property and equipment, net$558 $578 
Depreciation expense associated with property and equipment was $51 million and $49 million for the three months ended June 30, 2024 and 2023, respectively.
Accrued and Other Current Liabilities
Accrued and other current liabilities as of June 30, 2024 and March 31, 2024 consisted of (in millions):
As of
June 30, 2024
As of
March 31, 2024
Accrued compensation and benefits$333 $476 
Accrued royalties163 189 
Deferred net revenue (other)54 59 
Operating lease liabilities71 66 
Other accrued expenses293 286 
Sales returns and price protection reserves62 90 
Accrued and other current liabilities$976 $1,166 
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 June 30, 2024 and March 31, 2024 consisted of (in millions):
As of
June 30, 2024
As of
March 31, 2024
Deferred net revenue (online-enabled games)$1,412 $1,814 
Deferred net revenue (other)54 59 
Deferred net revenue (noncurrent)78 85 
Total deferred net revenue$1,544 $1,958 
During the three months ended June 30, 2024 and 2023, we recognized $1,119 million and $1,124 million of revenue, respectively, that were included in the deferred net revenue balance at the beginning of the period.
Remaining Performance Obligations
As of June 30, 2024, revenue allocated to remaining performance obligations consists of our deferred revenue balance of $1,544 million and amounts to be invoiced in future periods of $25 million, of which $18 million are expected to be recognized 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.