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DISCONTINUED OPERATIONS: | 12 Months Ended
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Mar. 31, 2020
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS: | DISCONTINUED OPERATIONS: Acxiom Marketing Solutions ("AMS") business During fiscal 2019, the Company completed the sale of its AMS business to The Interpublic Group of Companies, Inc. (“IPG”) for $2.3 billion in cash. The business qualified for treatment as discontinued operations during fiscal 2019. At the closing of the transaction, the Company received total consideration of $2.3 billion ($2.3 billion stated sales price less closing adjustments, transaction costs and other items of $49.0 million). Additionally, the Company applied $230.5 million of proceeds from the sale to repay outstanding Company debt and related interest. The Company reported a gain of $1.7 billion on the sale, which was included in earnings from discontinued operations, net of tax. Summary results of operations of AMS for the fiscal years ended March 31, 2020, 2019 and 2018 are segregated and included in earnings from discontinued operations, net of tax, in the consolidated statements of operations. The following is a reconciliation of the major classes of line items constituting earnings from discontinued operations, net of tax (dollars in thousands):
|  | Year ended March 31, |  |  |  |
|  | 2020 |  | 2019 |  | 2018
Revenues |  | $ | — |  |  | $ | 332,185 |  |  | $ | 697,305 |
Cost of revenue |  | — |  |  | 213,512 |  |  | 370,040 |
Gross profit |  | — |  |  | 118,673 |  |  | 327,265 |
Operating expenses: |  |  |  |  |  |  |
Research and development |  | — |  |  | 21,621 |  |  | 34,160 |
Sales and marketing |  | — |  |  | 60,743 |  |  | 106,960 |
General and administrative |  | — |  |  | 71,500 |  |  | 38,372 |
Gains, losses and other items, net |  | (957) |  |  | (1,673,636) |  |  | 3,650 |
Total operating expenses |  | (957) |  |  | (1,519,772) |  |  | 183,142 |
Income from discontinued operations |  | 957 |  |  | 1,638,445 |  |  | 144,123 |
Interest expense |  | — |  |  | (5,702) |  |  | (10,131) |
Other, net |  | — |  |  | 97 |  |  | (261) |
Earnings from discontinued operations before income taxes |  | 957 |  |  | 1,632,840 |  |  | 133,731 |
Income taxes |  | 207 |  |  | 470,346 |  |  | 42,952 |
Earnings from discontinued operations, net of tax |  | $ | 750 |  |  | $ | 1,162,494 |  |  | $ | 90,779 |
Substantially all interest expense was allocated to discontinued operations. The Company entered into certain agreements with AMS in which services will be provided from the Company to AMS, and from AMS to the Company. The terms of these agreements are primarily 60 months from the date of sale. Cash inflows and outflows related to the agreements are included in cash flows from operating activities in the consolidated statements of cash flows. Revenues and expenses related to the agreements are included in loss from operations in the consolidated statements of operations. The related cash inflows and outflows and revenues and costs for the periods reported are shown below (dollars in thousands):
|  | For the twelve months ended |  | For the six months ended
|  | March 31, 2020 |  | March 31, 2019
Cash inflows |  | $ | 49,543 |  |  | $ | 20,173 |
Cash outflows |  | $ | 10,280 |  |  | $ | 3,609 |
Revenues |  | $ | 47,864 |  |  | $ | 23,810 |
Costs |  | $ | 6,486 |  |  | $ | 6,985 |
The revenues amount includes approximately $15.5 million of revenue from AMS's resale of LiveRamp services to its customers.

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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