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Balance Sheet Details
 9 Months Ended
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Details BALANCE SHEET DETAILS
Property and Equipment, Net
Property and equipment, net, as of December 31, 2024 and March 31, 2024 consisted of (in millions):
As of
December 31, 2024
As of
March 31, 2024
Computer, equipment and software$1,010 $965 
Buildings371 376 
Leasehold improvements231 190 
Equipment, furniture and fixtures, and other101 92 
Land66 67 
Construction in progress22 47 
1,801 1,737 
Less: accumulated depreciation(1,235)(1,159)
Property and equipment, net$566 $578 
Depreciation expense associated with property and equipment was $51 million and $153 million for the three and nine months ended December 31, 2024, respectively.
Depreciation expense associated with property and equipment was $48 million and $146 million for the three and nine months ended December 31, 2023, respectively.
Accounts Payable, Accrued, and Other Current Liabilities
Accounts payable, accrued, and other current liabilities as of December 31, 2024 and March 31, 2024 consisted of (in millions):
As of
December 31, 2024
As of
March 31, 2024
Accounts payable$81 $110 
Accrued compensation and benefits390 476 
Accrued royalties196 189 
Deferred net revenue (other)92 59 
Operating lease liabilities66 66 
Other accrued expenses316 286 
Sales returns and price protection reserves157 90 
Accounts payable, accrued, and other current liabilities$1,298 $1,276 
Deferred net revenue (other) includes the deferral of licensing arrangements, subscription revenue, and other revenue for which revenue recognition criteria has not been met.
Deferred net revenue
Deferred net revenue as of December 31, 2024 and March 31, 2024 consisted of (in millions):
As of
December 31, 2024
As of
March 31, 2024
Deferred net revenue (online-enabled games)$1,806 $1,814 
Deferred net revenue (other)92 59 
Deferred net revenue (noncurrent)72 85 
Total deferred net revenue$1,970 $1,958 
During the nine months ended December 31, 2024 and 2023, we recognized $1,847 million and $1,942 million of revenue, respectively, that were included in the deferred net revenue balance at the beginning of the period.
Remaining Performance Obligations
As of December 31, 2024, revenue allocated to remaining performance obligations consists of our deferred revenue balance of $1,970 million and amounts to be invoiced in future periods of $40 million, of which $35 million are expected to be recognized as revenue over the next 12 months, and the remainder thereafter. These balances exclude any estimates for future variable consideration as we have elected the optional exemption to exclude sales-based royalty revenue.