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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of income (loss) before income taxes

Income from continuing operations before income taxes for the fiscal years 2018, 2017 and 2016 is summarized as follows (in thousands):

		Years Ended March 31,
		2018				2017				2016
Swiss		$	177,935			$	161,544			$	80,572
Non-Swiss		54,330				53,445				50,900
Income before taxes		$	232,265			$	214,989			$	131,472

Schedule of provision (benefit) for income taxes

The provision for (benefit from) income taxes is summarized as follows (in thousands):

		Years Ended March 31,
		2018				2017				2016
Current:
Swiss		$	3,526			$	1,934			$	1,668
Non-Swiss		13,142				9,774				(2,582		)
Deferred:
Non-Swiss		7,055				(2,595		)		4,024
Provision for income taxes		$	23,723			$	9,113			$	3,110

Schedule of difference between the provision (benefit) for income taxes and expected tax provision (benefit) at the statutory income tax rate

The difference between the provision for income taxes and the expected tax provision at the statutory income tax rate of 8.5% is reconciled below (in thousands):

		Years Ended March 31,
		2018				2017				2016
Expected tax provision at statutory income tax rates		$	19,743			$	18,274			$	11,175
Income taxes at different rates		(9,611		)		(5,247		)		(2,713		)
Research and development tax credits		(4,124		)		(2,309		)		(1,619		)
Executive compensation		1,835				654				864
Stock-based compensation		(9,376		)		1,794				1,446
Deferred tax effects from Tax Act		22,325				—				—
Valuation allowance		533				1,024				947
Restructuring charges / (credits)		(10		)		2				1,514
Tax reserves (releases), net		3,627				(5,570		)		(8,761		)
Other, net		(1,219		)		491				257
Provision for income taxes		$	23,723			$	9,113			$	3,110

Schedule of deferred income tax assets and liabilities

Deferred income tax assets and liabilities consist of the following (in thousands):

		March 31,
		2018				2017
Deferred tax assets:
Net operating loss carryforwards		$	15,476			$	4,306
Tax credit carryforwards		45,421				5,825
Accruals		42,765				41,570
Depreciation and amortization		1,505				2,860
Share-based compensation		7,479				11,846
Gross deferred tax assets		112,646				66,407
Valuation allowance		(25,148		)		(6,626		)
Gross deferred tax assets after valuation allowance		87,498				59,781
Deferred tax liabilities:
Acquired intangible assets and other		(4,827		)		(4,267		)
Gross deferred tax liabilities		(4,827		)		(4,267		)
Deferred tax assets, net		$	82,671			$	55,514

Summary of aggregate changes in gross unrecognized tax benefits

The aggregate changes in gross unrecognized tax benefits in fiscal years 2018, 2017 and 2016 were as follows (in thousands):

March 31, 2015		$	79,023
Lapse of statute of limitations		(15,518		)
Decreases in balances related to tax positions taken during prior years		(1,502		)
Increases in balances related to tax positions taken during the year		7,876
March 31, 2016		$	69,879
Lapse of statute of limitations		(14,161		)
Decreases in balances related to tax positions taken during prior years		(1,610		)
Increases in balances related to tax positions taken during the year		9,559
March 31, 2017		$	63,667
Lapse of statute of limitations		(7,505		)
Settlements with tax authorities		(704		)
Increases in balances related to tax positions taken during the year		13,673
March 31, 2018		$	69,131

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
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Tabular disclosure of the change in unrecognized tax benefits.

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-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI http://asc.fasb.org/extlink&oid=96868398&loc=d3e36027-109320

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