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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2025
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, 2025, 2024, and 2023 are as follows (in millions):
| Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Domestic | $ | 447 |  |  | $ | 437 |  |  | $ | 315 |
Foreign | 1,158 |  |  | 1,152 |  |  | 1,011 |
Income before provision for income taxes | $ | 1,605 |  |  | $ | 1,589 |  |  | $ | 1,326 |
Provision For (Benefit From) Income Taxes | Provision for income taxes for the fiscal years ended March 31, 2025, 2024, and 2023 consisted of (in millions):
| Current |  | Deferred |  | Total
Year Ended March 31, 2025 |  |  |  |  |
Federal | $ | 369 |  |  | $ | (136) |  |  | $ | 233 |
State | 53 |  |  | (28) |  |  | 25 |
Foreign | 102 |  |  | 124 |  |  | 226 |
| $ | 524 |  |  | $ | (40) |  |  | $ | 484 |
Year Ended March 31, 2024 |  |  |  |  |
Federal | $ | 138 |  |  | $ | 85 |  |  | $ | 223 |
State | 20 |  |  | 9 |  |  | 29 |
Foreign | 76 |  |  | (12) |  |  | 64 |
| $ | 234 |  |  | $ | 82 |  |  | $ | 316 |
Year Ended March 31, 2023 |  |  |  |  |
Federal | $ | 570 |  |  | $ | (339) |  |  | $ | 231 |
State | 92 |  |  | (76) |  |  | 16 |
Foreign | 75 |  |  | 202 |  |  | 277 |
| $ | 737 |  |  | $ | (213) |  |  | $ | 524 |
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, 2025, 2024, and 2023 were as follows:
| Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Statutory federal tax expense rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
State taxes, net of federal benefit | 0.9 | % |  | 1.1 | % |  | 1.1 | %
Differences between statutory rate and foreign effective tax rate | 3.8 | % |  | 2.9 | % |  | 7.6 | %
Research and development credits | (2.3) | % |  | (2.4) | % |  | (3.0) | %
Swiss valuation allowance | 3.2 | % |  | (0.3) | % |  | 8.9 | %
Effect of change in enacted tax rate | — | % |  | (5.8) | % |  | — | %
Non-deductible stock-based compensation | 3.2 | % |  | 2.8 | % |  | 3.2 | %
Other | 0.4 | % |  | 0.6 | % |  | 0.7 | %
Effective tax rate | 30.2 | % |  | 19.9 | % |  | 39.5 | %
Deferred Tax Assets And Liabilities | The components of net deferred tax assets, as of March 31, 2025 and 2024 consisted of (in millions):
| As of March 31,
| 2025 |  | 2024
Deferred tax assets: |  |  |
Accruals, reserves and other expenses | $ | 227 |  |  | $ | 200 |
Tax credit carryforwards | 235 |  |  | 222 |
Research and development capitalization | 523 |  |  | 375 |
Stock-based compensation | 43 |  |  | 41 |
Net operating loss and capital loss carryforwards | 450 |  |  | 403 |
Swiss intra-entity tax asset | 1,485 |  |  | 1,618 |
Total | 2,963 |  |  | 2,859 |
Valuation allowance | (534) |  |  | (464) |
Deferred tax assets, net of valuation allowance | 2,429 |  |  | 2,395 |
Deferred tax liabilities: |  |  |
Amortization and depreciation | (7) |  |  | (10) |
Other | (3) |  |  | (6) |
Total | (10) |  |  | (16) |
Deferred tax assets, net of valuation allowance and deferred tax liabilities | $ | 2,419 |  |  | $ | 2,379 |
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, 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 |
Increases in unrecognized tax benefits related to prior year tax positions | 14 |
Decreases in unrecognized tax benefits related to prior year tax positions | (173) |
Increases in unrecognized tax benefits related to current year tax positions | 97 |
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations | (2) |
Changes in unrecognized tax benefits due to foreign currency translation | 1 |
Balance as of March 31, 2024 | 804 |
Increases in unrecognized tax benefits related to prior year tax positions | 18 |
Decreases in unrecognized tax benefits related to prior year tax positions | (214) |
Increases in unrecognized tax benefits related to current year tax positions | 94 |
Decreases in unrecognized tax benefits related to settlements with taxing authorities | (12) |
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations | (2) |
Balance as of March 31, 2025 | $ | 688 |

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