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v3.22.1

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Mar. 31, 2022 | Mar. 31, 2021
--- | --- | ---
Deferred tax assets: |  |
Accrued expenses | $ 81.6 | $ 83.6
Capital loss carryforward | 9.8 | 6.3
Deferred revenue | 90.4 | 0.0
Income tax credits | 306.6 | 331.1
Intangible assets | 1,479.9 | 1,581.5
Inventory valuation | 26.8 | 46.0
Lease liabilities | 36.1 | 37.1
Net operating loss carryforward | 77.0 | 68.0
Property, plant and equipment | 40.8 | 32.7
Share-based compensation | 45.8 | 46.5
Other | 5.5 | 17.4
Gross deferred tax assets | 2,200.3 | 2,250.2
Valuation allowances | (290.3) | (290.3)
Deferred tax assets, net of valuation allowances | 1,910.0 | 1,959.9
Deferred tax liabilities: |  |
Convertible debt | (22.7) | (53.9)
Intangible assets | (92.4) | (158.1)
ROU assets | (33.6) | (34.5)
Other | (4.0) | (8.1)
Deferred tax liabilities | (152.7) | (254.6)
Net deferred tax asset | 1,757.3 | 1,705.3
Reported as: |  |
Non-current deferred tax assets | 1,797.1 | 1,749.2
Non-current deferred tax liability | (39.8) | (43.9)
Net deferred tax asset | $ 1,757.3 | $ 1,705.3

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