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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2021
Income Tax Disclosure [Abstract] |
Components of Income (loss) Before Income Taxes | The components of income (loss) before income taxes by jurisdiction are as follows:
|  | Fiscal Years Ended |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2019 |
|  | (In thousands) |
United States |  | $ | 48,443 |  |  | $ | 27,000 |  |  | $ | (102,643 | )
Foreign |  |  | (22,457 | ) |  |  | (25,572 | ) |  |  | (7,838 | )
|  | $ | 25,986 |  |  | $ | 1,428 |  |  | $ | (110,481 | )
Summary of (Provision for) Benefit from Income Taxes | The (provision for) benefit from income taxes includes the following:
|  | Fiscal Years Ended |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2019 |
|  | (In thousands) |
Current tax provision |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (8,573 | ) |  | $ | (5,935 | ) |  | $ | (821 | )
State |  |  | (3,386 | ) |  |  | (1,465 | ) |  |  | (690 | )
Foreign |  |  | 449 |  |  |  | (327 | ) |  |  | (1,619 | )
|  |  | (11,510 | ) |  |  | (7,727 | ) |  |  | (3,130 | )
Deferred tax benefit |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | 708 |  |  |  | 9,889 |  |  |  | 34,099 |
State |  |  | 823 |  |  |  | 5,797 |  |  |  | 8,738 |
Foreign |  |  | 538 |  |  |  | (44 | ) |  |  | 1,307 |
|  |  | 2,069 |  |  |  | 15,642 |  |  |  | 44,144 |
Total (provision for) benefit from income taxes |  | $ | (9,441 | ) |  | $ | 7,915 |  |  | $ | 41,014 |
Components of Net Deferred Tax Assets | Significant components of the Company’s net deferred tax assets are as follows:
|  | As of |
|  | March 31, 2021 |  |  | March 31, 2020 |
|  | (In thousands) |
Deferred tax assets: |  |  |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 187,900 |  |  | $ | 217,883 |
Tax credit carryforwards |  |  | 272,126 |  |  |  | 248,425 |
Operating lease liabilities |  |  | 88,259 |  |  |  | 78,114 |
Deferred revenue |  |  | 21,345 |  |  |  | 24,840 |
Other |  |  | 82,222 |  |  |  | 62,691 |
Valuation allowance |  |  | (47,076 | ) |  |  | (42,621 | )
Total deferred tax assets |  |  | 604,776 |  |  |  | 589,332 |
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  |  | (71,335 | ) |  |  | (71,116 | )
Property, equipment and satellites |  |  | (142,899 | ) |  |  | (142,049 | )
Operating lease assets |  |  | (83,065 | ) |  |  | (73,446 | )
Other |  |  | (34,208 | ) |  |  | (27,374 | )
Total deferred tax liabilities |  |  | (331,507 | ) |  |  | (313,985 | )
Net deferred tax assets |  | $ | 273,269 |  |  | $ | 275,347 |
Reconciliation of (Provision for) Benefit from Income Taxes to Amount Computed by Applying Statutory Federal Income Tax Rate to Income (Loss) before Income Taxes | A reconciliation of the (provision for) benefit from income taxes to the amount computed by applying the statutory federal income tax rate to income (loss) before income taxes is as follows:
|  | Fiscal Years Ended |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2019 |
|  | (In thousands) |
Tax (provision) benefit at federal statutory rate |  | $ | (5,457 | ) |  | $ | (300 | ) |  | $ | 23,201 |
State tax (provision) benefit, net of federal benefit |  |  | (5,067 | ) |  |  | (1,093 | ) |  |  | 1,815 |
Tax credits, net of valuation allowance |  |  | 24,272 |  |  |  | 25,153 |  |  |  | 26,836 |
Non-deductible compensation |  |  | (5,728 | ) |  |  | (7,150 | ) |  |  | (4,527 | )
Non-deductible meals and entertainment |  |  | (386 | ) |  |  | (1,075 | ) |  |  | (929 | )
Stock-based compensation |  |  | (9,901 | ) |  |  | 780 |  |  |  | 180 |
Change in federal tax rate due to 2020 CARES Act and 2017 Tax Cuts and Jobs Act |  | — |  |  |  | 567 |  |  | — |
Change in state effective tax rate |  |  | (2,360 | ) |  |  | (14 | ) |  |  | (684 | )
Foreign effective tax rate differential, net of valuation allowance |  |  | (3,046 | ) |  |  | (5,707 | ) |  |  | (1,552 | )
Unremitted subsidiary gains |  |  | (1,682 | ) |  |  | (2,742 | ) |  |  | (1,388 | )
Other |  |  | (86 | ) |  |  | (504 | ) |  |  | (1,938 | )
Total (provision for) benefit from income taxes |  | $ | (9,441 | ) |  | $ | 7,915 |  |  | $ | 41,014 |
Summary of Activity Related to Unrecognized Tax Benefits | The following table summarizes the activity related to the Company’s unrecognized tax benefits:
|  | As of |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2019 |
|  | (In thousands) |
Balance, beginning of fiscal year |  | $ | 80,591 |  |  | $ | 68,156 |  |  | $ | 55,474 |
Decrease related to prior year tax positions |  |  | (828 | ) |  |  | (949 | ) |  |  | (1,183 | )
Increases related to current year tax positions |  |  | 13,199 |  |  |  | 13,384 |  |  |  | 13,865 |
Balance, end of fiscal year |  | $ | 92,962 |  |  | $ | 80,591 |  |  | $ | 68,156 |

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