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Segment and Revenue Information | 12 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Segment and Revenue Information | SEGMENT AND REVENUE INFORMATION Our reporting segment is based upon: our internal organizational structure; the manner in which our operations are managed; the criteria used by our Chief Executive Officer, our Chief Operating Decision Maker (“CODM”), to evaluate segment performance; the availability of separate financial information; and overall materiality considerations. As of March 31, 2025, we have one reportable segment, which represents our only operating segment. Our CODM makes decisions on resource allocation and assesses performance of the business based on our consolidated results, including net income. Our CODM does not review any information regarding total assets on an operating segment basis, and accordingly, no disclosure is made with respect thereto. Information about our single reportable segment net revenue, net income, and significant segment expenses for the fiscal years ended March 31, 2025, 2024, and 2023 is presented below (in millions):
| Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Net revenue | $ | 7,463 |  |  | $ | 7,562 |  |  | $ | 7,426 |
Less: |  |  |  |  |
Cost of revenue (1) | 1,489 |  |  | 1,626 |  |  | 1,665 |
Research and development (1) | 2,112 |  |  | 2,002 |  |  | 1,961 |
Marketing and sales (1) | 906 |  |  | 967 |  |  | 919 |
General and administrative (1) | 625 |  |  | 583 |  |  | 568 |
Amortization and impairment of intangibles | 107 |  |  | 218 |  |  | 278 |
Restructuring and related charges | 62 |  |  | 64 |  |  | 155 |
Stock-based compensation | 642 |  |  | 584 |  |  | 548 |
Interest and other (income) expenses, net | (85) |  |  | (71) |  |  | 6 |
Provision for income taxes | 484 |  |  | 316 |  |  | 524 |
Net income | $ | 1,121 |  |  | $ | 1,273 |  |  | $ | 802 |
(1) Excludes amounts related to amortization and impairment of intangibles, restructuring and related charges, and stock-based compensation, which are presented separately in the table above.
Information about our total net revenue by timing of recognition for the fiscal years ended March 31, 2025, 2024, and 2023 is presented below (in millions):
| Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Net revenue by timing of recognition |  |  |  |  |
Revenue recognized at a point in time | $ | 2,665 |  |  | $ | 2,563 |  |  | $ | 2,389 |
Revenue recognized over time | 4,798 |  |  | 4,999 |  |  | 5,037 |
Net revenue | $ | 7,463 |  |  | $ | 7,562 |  |  | $ | 7,426 |
Generally, performance obligations that are recognized upfront upon transfer of control are classified as revenue recognized at a point in time, while performance obligations that are recognized over either the Estimated Offering Period, contractual term or subscription period as the services are provided are classified as revenue recognized over time. Revenue recognized at a point in time includes revenue allocated to the software license performance obligation. This also includes a portion of revenue from the licensing of software to third-parties. Revenue recognized over time includes service revenue allocated to the future update rights and the online hosting performance obligations. This also includes online-hosted services such as our Ultimate Team game mode, revenue allocated to the future update rights from licensing of software to third-parties, subscription services, and revenue recognized from third parties that publish games and services under a license to certain of our intellectual property assets. Information about our total net revenue by composition for the fiscal years ended March 31, 2025, 2024, and 2023 is presented below (in millions):
| Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Net revenue by composition |  |  |  |  |
Full game downloads | $ | 1,478 |  |  | $ | 1,343 |  |  | $ | 1,262 |
Packaged goods | 524 |  |  | 672 |  |  | 675 |
Full game | 2,002 |  |  | 2,015 |  |  | 1,937 |
Live services and other | 5,461 |  |  | 5,547 |  |  | 5,489 |
Net revenue | $ | 7,463 |  |  | $ | 7,562 |  |  | $ | 7,426 |
Full game net revenue includes full game downloads and packaged goods. Full game downloads primarily include revenue from digital sales of full games on console, PC, and certain licensing revenue. Packaged goods primarily includes revenue from full games that are sold physically to mass market retailers, specialty stores and through distribution arrangements. Live services and other net revenue primarily includes revenue from sales of extra content for console, PC, and mobile games, certain licensing revenue, subscriptions, and advertising. Information about our total net revenue by platform for the fiscal years ended March 31, 2025, 2024, and 2023 is presented below (in millions):
| Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Platform net revenue |  |  |  |  |
Console | $ | 4,776 |  |  | $ | 4,632 |  |  | $ | 4,443 |
PC and other | 1,547 |  |  | 1,717 |  |  | 1,729 |
Mobile | 1,140 |  |  | 1,213 |  |  | 1,254 |
Net revenue | $ | 7,463 |  |  | $ | 7,562 |  |  | $ | 7,426 |
Information about our operations in North America and internationally for the fiscal years ended March 31, 2025, 2024, and 2023 is presented below (in millions):
| Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Net revenue from unaffiliated customers |  |  |  |  |
North America | $ | 3,078 |  |  | $ | 3,001 |  |  | $ | 3,151 |
International | 4,385 |  |  | 4,561 |  |  | 4,275 |
Net revenue | $ | 7,463 |  |  | $ | 7,562 |  |  | $ | 7,426 |
| As of March 31,
| 2025 |  | 2024
Long-lived assets |  |  |
North America | $ | 438 |  |  | $ | 420 |
International | 148 |  |  | 158 |
Total | $ | 586 |  |  | $ | 578 |
We attribute net revenue from external customers to individual countries based on the location of the legal entity that sells the products and/or services. Note that revenue attributed to the legal entity that makes the sale is often not the country where the consumer resides. For example, revenue generated by our Swiss legal entity includes digital revenue from consumers who reside outside of Switzerland, including consumers who reside outside of Europe. Revenue generated by our Swiss legal entity during fiscal years 2025, 2024, and 2023 represents $4,279 million, $4,374 million and $4,085 million or 57 percent, 58 percent and 55 percent of our total net revenue, respectively. Revenue generated in the United States represents over 99 percent of our total North America net revenue. There were no other countries with net revenue greater than 10 percent. In fiscal year 2025, our direct sales to Sony and Microsoft represented approximately 39 percent and 17 percent of total net revenue, respectively. In fiscal year 2024, our direct sales to Sony and Microsoft represented approximately 37 percent and 16 percent of total net revenue, respectively. In fiscal year 2023, our direct sales to Sony and Microsoft represented approximately 32 percent and 16 percent of total net revenue, respectively.

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- Definition The entire disclosure for reporting segments including data and tables. 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