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Income Taxes (Tables)

12 Months Ended

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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