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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Schedule of income (loss) before income taxes

Income from continuing operations before income taxes for fiscal years 2019, 2018 and 2017 is summarized as follows (in thousands):

		Years Ended March 31,
		2019				2018				2017
Swiss		$	212,986			$	177,935			$	161,544
Non-Swiss		58,147				54,330				53,445
Income before taxes		$	271,133			$	232,265			$	214,989

Schedule of provision (benefit) for income taxes

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

		Years Ended March 31,
		2019				2018				2017
Current:
Swiss		$	1,364			$	3,526			$	1,934
Non-Swiss		24,334				13,142				9,774
Deferred:
Non-Swiss		(12,138		)		7,055				(2,595		)
Provision for income taxes		$	13,560			$	23,723			$	9,113

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,
		2019				2018				2017
Expected tax provision at statutory income tax rates		$	23,046			$	19,743			$	18,274
Income taxes at different rates		(10,113		)		(9,611		)		(5,247		)
Research and development tax credits		(5,432		)		(4,124		)		(2,309		)
Executive compensation		3,344				1,835				654
Stock-based compensation		(7,288		)		(9,376		)		1,794
Deferred tax effects from Tax Act		—				22,325				—
Valuation allowance		1,891				533				1,024
Restructuring charges / (credits)		961				(10		)		2
Tax reserves (releases), net		8,269				3,627				(5,570		)
Other, net		(1,118		)		(1,219		)		491
Provision for income taxes		$	13,560			$	23,723			$	9,113

Schedule of deferred income tax assets and liabilities

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

		March 31,
		2019				2018
Deferred tax assets:
Net operating loss carryforwards		$	16,323			$	15,476
Tax credit carryforwards		52,263				45,421
Accruals		52,304				42,765
Depreciation and amortization		5,716				1,505
Share-based compensation		8,703				7,479
Gross deferred tax assets		135,309				112,646
Valuation allowance		(28,375		)		(25,148		)
Gross deferred tax assets after valuation allowance		106,934				87,498
Deferred tax liabilities:
Acquired intangible assets and other		(18,176		)		(4,827		)
Gross deferred tax liabilities		(18,176		)		(4,827		)
Deferred tax assets, net		$	88,758			$	82,671

Summary of aggregate changes in gross unrecognized tax benefits

The aggregate changes in gross unrecognized tax benefits in fiscal years 2019, 2018 and 2017 were as follows (in thousands):

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		)
Decreases in balances related to tax positions taken during prior years		(704		)
Increases in balances related to tax positions taken during the year		13,673
March 31, 2018		$	69,131
Lapse of statute of limitations		(2,511		)
Decreases in balances related to tax positions taken during prior years		(1,550		)
Increases in balances related to tax positions taken during the year		11,479
March 31, 2019		$	76,549

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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.

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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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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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