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Stock-Based Compensation (Tables) | 9 Months Ended
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Dec. 31, 2024
Equity [Abstract] |
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award | The following table summarizes our stock option activity for the nine months ended December 31, 2024:
|  | 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 |  |  |  |  |
Granted |  | 3 |  |  | 141.83 |  |  |  |  |
Exercised |  | (7) |  |  | 91.54 |  |  |  |  |
Forfeited, cancelled or expired |  | (1) |  |  | 58.76 |  |  |  |  |
Outstanding as of December 31, 2024 |  | 7 |  |  | $ | 62.09 |  |  | 3.51 |  | $ | 1 |
Vested and expected to vest |  | 7 |  |  | $ | 62.09 |  |  | 3.51 |  | $ | 1 |
Exercisable as of December 31, 2024 |  | 7 |  |  | $ | 62.09 |  |  | 3.51 |  | $ | 1 |
The following table summarizes our restricted stock units activity for the nine months ended December 31, 2024:
| Restricted Stock Units (in thousands) |  | Weighted- Average Grant Date Fair Values
Outstanding as of March 31, 2024 | 7,480 |  |  | $ | 128.31 |
Granted | 4,446 |  |  | 138.81 |
Vested | (3,917) |  |  | 129.53 |
Forfeited or cancelled | (314) |  |  | 130.87 |
Outstanding as of December 31, 2024 | 7,695 |  |  | $ | 133.65 |
The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the nine months ended December 31, 2024:
| Performance- Based Restricted Stock Units (in thousands) |  | Weighted- Average Grant Date Fair Value
Outstanding as of March 31, 2024 | 836 |  |  | $ | 129.60 |
Granted | 763 |  |  | 137.53 |
Vested | (277) |  |  | 133.67 |
Forfeited or cancelled | (318) |  |  | 129.29 |
Outstanding as of December 31, 2024 | 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 nine months ended December 31, 2024:
| Market-Based Restricted Stock Units (in thousands) |  | Weighted- Average Grant Date Fair Value
Outstanding as of March 31, 2024 | 354 |  |  | $ | 168.53 |
Granted | 381 |  |  | 80.91 |
Vested | (25) |  |  | 173.25 |
Forfeited or cancelled | (73) |  |  | 173.25 |
Outstanding as of December 31, 2024 | 637 |  |  | $ | 115.43 |
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 Condensed Consolidated Statements of Operations (in millions):
| Three Months Ended December 31, |  | Nine Months Ended December 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
Cost of revenue | $ | 3 |  |  | $ | 2 |  |  | $ | 11 |  |  | $ | 6 |
Research and development | 119 |  |  | 108 |  |  | 342 |  |  | 314 |
Marketing and sales | 14 |  |  | 14 |  |  | 42 |  |  | 38 |
General and administrative | 27 |  |  | 27 |  |  | 85 |  |  | 78 |
Stock-based compensation expense | $ | 163 |  |  | $ | 151 |  |  | $ | 480 |  |  | $ | 436 |
Schedule of Repurchase Agreements | The following table summarizes total shares repurchased during the three and nine months ended December 31, 2024 and 2023:
| August 2022 Program |  | May 2024 Program |  | Total |  |  |  |
(In millions) | Shares |  | Amount(a) |  | Shares |  | Amount(a) |  | Shares |  | Amount |  |  |  |  |  |  |  |
Three months ended December 31, 2024 | — |  |  | $ | — |  |  | 2.4 |  |  | $ | 375 |  |  | 2.4 |  |  | $ | 375 |  |  |  |  |  |  |  |  |
Nine months ended December 31, 2024 | 1.2 |  |  | $ | 152 |  |  | 6.7 |  |  | $ | 973 |  |  | 7.9 |  |  | $ | 1,125 |  |  |  |  |  |  |  |  |
Three months ended December 31, 2023 | 2.5 |  |  | $ | 325 |  |  | — |  |  | $ | — |  |  | 2.5 |  |  | $ | 325 |  |  |  |  |  |  |  |  |
Nine months ended December 31, 2023 | 7.6 |  |  | $ | 975 |  |  | — |  |  | $ | — |  |  | 7.6 |  |  | $ | 975 |  |  |  |  |  |  |  |  |
(a)Amount excludes excise taxes. Accrued excise taxes are included in accounts payable, accrued, and other current liabilities and additional paid-in capital on the Condensed Consolidated Balance Sheets.

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