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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2022
Income Tax Disclosure [Abstract] |
Components of (loss) Income Before Income Taxes | The components of (loss) income before income taxes by jurisdiction are as follows:
|  | Fiscal Years Ended |
|  | March 31, 2022 |  |  | March 31, 2021 |  |  | March 31, 2020 |
|  | (In thousands) |
United States |  | $ | 2,222 |  |  | $ | 48,443 |  |  | $ | 27,000 |
Foreign |  |  | (18,661 | ) |  |  | (22,457 | ) |  |  | (25,572 | )
|  | $ | (16,439 | ) |  | $ | 25,986 |  |  | $ | 1,428 |
Summary of Benefit from (Provision for) Income Taxes | The benefit from (provision for) income taxes includes the following:
|  | Fiscal Years Ended |
|  | March 31, 2022 |  |  | March 31, 2021 |  |  | March 31, 2020 |
|  | (In thousands) |
Current tax provision |  |  |  |  |  |  |  |  |
Federal |  | $ | (7,097 | ) |  | $ | (8,573 | ) |  | $ | (5,935 | )
State |  |  | (2,041 | ) |  |  | (3,386 | ) |  |  | (1,465 | )
Foreign |  |  | (4,042 | ) |  |  | 449 |  |  |  | (327 | )
|  |  | (13,180 | ) |  |  | (11,510 | ) |  |  | (7,727 | )
Deferred tax benefit |  |  |  |  |  |  |  |  |
Federal |  |  | 12,961 |  |  |  | 708 |  |  |  | 9,889 |
State |  |  | 11,865 |  |  |  | 823 |  |  |  | 5,797 |
Foreign |  |  | 2,591 |  |  |  | 538 |  |  |  | (44 | )
|  |  | 27,417 |  |  |  | 2,069 |  |  |  | 15,642 |
Total benefit from (provision for) income taxes |  | $ | 14,237 |  |  | $ | (9,441 | ) |  | $ | 7,915 |
Components of Net Deferred Tax Assets | Significant components of the Company’s net deferred tax assets are as follows:
|  | As of |
|  | March 31, 2022 |  |  | March 31, 2021 |
|  | (In thousands) |
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 251,276 |  |  | $ | 187,900 |
Tax credit carryforwards |  |  | 299,165 |  |  |  | 272,126 |
Operating lease liabilities |  |  | 93,580 |  |  |  | 88,259 |
Deferred revenue |  |  | 21,546 |  |  |  | 21,345 |
Other |  |  | 99,074 |  |  |  | 82,222 |
Valuation allowance |  |  | (78,071 | ) |  |  | (47,076 | )
Total deferred tax assets |  |  | 686,570 |  |  |  | 604,776 |
Deferred tax liabilities: |  |  |  |  |  |
Intangible assets |  |  | (119,299 | ) |  |  | (71,335 | )
Property, equipment and satellites |  |  | (163,560 | ) |  |  | (142,899 | )
Operating lease assets |  |  | (87,677 | ) |  |  | (83,065 | )
Other |  |  | (28,261 | ) |  |  | (34,208 | )
Total deferred tax liabilities |  |  | (398,797 | ) |  |  | (331,507 | )
Net deferred tax assets |  | $ | 287,773 |  |  | $ | 273,269 |
Reconciliation of Benefit from (Provision for) Income Taxes to Amount Computed by Applying Statutory Federal Income Tax Rate to (Loss) Income before Income Taxes | reconciliation of the benefit from (provision for) income taxes to the amount computed by applying the statutory federal income tax rate to (loss) income before income taxes is as follows:
|  | Fiscal Years Ended |
|  | March 31, 2022 |  |  | March 31, 2021 |  |  | March 31, 2020 |
|  | (In thousands) |
Tax benefit (provision) at federal statutory rate |  | $ | 3,455 |  |  | $ | (5,457 | ) |  | $ | (300 | )
State tax provision, net of federal benefit |  |  | (653 | ) |  |  | (5,067 | ) |  |  | (1,093 | )
Tax credits, net of valuation allowance |  |  | 27,052 |  |  |  | 24,272 |  |  |  | 25,153 |
Non-deductible compensation |  |  | (5,771 | ) |  |  | (5,728 | ) |  |  | (7,150 | )
Non-deductible transaction costs |  |  | (1,361 | ) |  | — |  |  | — |
Non-deductible meals and entertainment |  |  | (337 | ) |  |  | (386 | ) |  |  | (1,075 | )
Stock-based compensation |  |  | (7,569 | ) |  |  | (9,901 | ) |  |  | 780 |
Change in state effective tax rate |  |  | 539 |  |  |  | (2,360 | ) |  |  | (14 | )
Foreign effective tax rate differential, net of valuation allowance |  |  | (6,201 | ) |  |  | (3,046 | ) |  |  | (5,707 | )
Unremitted subsidiary gains |  |  | (1,565 | ) |  |  | (1,682 | ) |  |  | (2,742 | )
Change to indefinite reinvestment assertion (EBI) |  |  | 8,071 |  |  | — |  |  | — |
Change in federal tax rate due to 2020 CARES Act |  | — |  |  | — |  |  |  | 567 |
Other |  |  | (1,423 | ) |  |  | (86 | ) |  |  | (504 | )
Total benefit from (provision for) income taxes |  | $ | 14,237 |  |  | $ | (9,441 | ) |  | $ | 7,915 |
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, 2022 |  |  | March 31, 2021 |  |  | March 31, 2020 |
|  | (In thousands) |
Balance, beginning of fiscal year |  | $ | 92,962 |  |  | $ | 80,591 |  |  | $ | 68,156 |
Increase (decrease) related to prior year tax positions |  |  | 7,486 |  |  |  | (828 | ) |  |  | (949 | )
Increases related to current year tax positions |  |  | 12,358 |  |  |  | 13,199 |  |  |  | 13,384 |
Balance, end of fiscal year |  | $ | 112,806 |  |  | $ | 92,962 |  |  | $ | 80,591 |

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