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Stock-Based Compensation, Employee Benefit Plans, and Stock Repurchase Program (Tables)
12 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule Of Assumptions Used In The Black-Scholes Valuation Model
The estimated assumptions used in the Black-Scholes valuation model to value our ESPP purchase rights were as follows:
 ESPP Purchase Rights
 Year Ended March 31,
 202520242023
Risk-free interest rate
4.2 - 5.0%
5.0 - 5.5%
3.1% - 5.0%
Expected volatility
21 - 30%
19 - 24%
27 - 31%
Weighted-average volatility
28%
23%
29%
Expected term
6 - 12 months
6 - 12 months
6 - 12 months
Expected dividends
0.7%
0.8 %0.8 %
Schedule Of Assumptions Used In Monte-Carlo Simulation Model
The assumptions used in the Monte-Carlo simulation model to value our market-based restricted stock units were as follows:
 Year Ended March 31,
202520242023
Risk-free interest rate
4.5%
4.4 %
3.3%
Expected volatility
23 - 43%
25 - 59%
33 - 56%
Weighted-average volatility
31%
39%
43%
Expected dividendsNoneNoneNone
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award
The following table summarizes our stock option activity for the fiscal year ended March 31, 2025:
Options
(in thousands)
Weighted-
Average
Exercise Prices
Weighted-
Average
Remaining
Contractual
Term  (in years)
Aggregate
Intrinsic Value
(in millions)
Outstanding as of March 31, 2024
12 $64.00 
Granted136.58 
Exercised(8)92.08 
Forfeited, cancelled or expired(1)58.76 
Outstanding as of March 31, 2025
$63.51 3.25$0.5 
Vested and expected to vest$63.51 3.25$0.5 
Exercisable as of March 31, 2025
$63.51 3.25$0.5 
The following table summarizes our restricted stock units activity, excluding performance-based and market-based restricted stock unit activity which is discussed below, for the fiscal year ended March 31, 2025:

Restricted
Stock Units
(in thousands)
Weighted-
Average Grant
Date Fair Values
Outstanding as of March 31, 2024
7,480 $128.31 
Granted4,760 138.59 
Vested(4,228)129.53 
Forfeited or cancelled(463)131.82 
Outstanding as of March 31, 2025
7,549 $133.90 
The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the fiscal year ended March 31, 2025:
Performance-
Based Restricted
Stock Units
(in thousands)
Weighted-
Average Grant
Date Fair Value
Outstanding as of March 31, 2024
836 $129.60 
Granted763 137.53 
Vested(277)133.67 
Forfeited or cancelled(318)129.29 
Outstanding as of March 31, 2025
1,004 $134.60 
The following table summarizes our market-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the year ended March 31, 2025:
Market-Based
Restricted  Stock
Units
(in thousands)
Weighted-
Average  Grant
Date Fair Value
Outstanding as of March 31, 2024
354 $168.53 
Granted381 80.91 
Vested(25)173.25 
Forfeited or cancelled(73)173.25 
Outstanding as of March 31, 2025
637 $115.43 
Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity
The following table summarizes our ESPP activity for fiscal years ended March 31, 2025, 2024, and 2023:
Shares Issued
(in millions)
Exercise Prices for Purchase RightsWeighted-Average Fair Values of Purchase Rights
Fiscal Year 2023
0.7 
$96.34 - $111.86
$33.91 
Fiscal Year 2024
0.8 
$94.96 - $102.58
$30.82 
Fiscal Year 2025
0.7 
$102.58 - $120.94
$34.07 
Schedule Of Stock-Based Compensation Expense By Statement Of Operations
The following table summarizes stock-based compensation expense resulting from stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and the ESPP purchase rights included in our Consolidated Statements of Operations (in millions):
 Year Ended March 31,
 202520242023
Cost of revenue$14 $$
Research and development457 418 367 
Marketing and sales56 52 59 
General and administrative115 106 115 
Stock-based compensation expense$642 $584 $548 
Shares Repurchased and Retired
The following table summarizes total shares repurchased during fiscal years 2025, 2024, and 2023:
November 2020 ProgramAugust 2022 ProgramMay 2024 ProgramTotal
(In millions)SharesAmountShares
Amount(a)
Shares
Amount(a)
SharesAmount
Fiscal Year 2023
5.1 $650 5.3 $645 — $— 10.4 $1,295 
Fiscal Year 2024
— $— 10.0 $1,300 — $— 10.0 $1,300 
Fiscal Year 2025
— $— 1.2 $152 16.4 $2,348 17.6 $2,500 
(a)Amount excludes excise taxes. Accrued excise taxes are included in accrued and other current liabilities and additional paid-in capital on the Consolidated Balance Sheets.