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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2020
Income Tax Disclosure [Abstract] |
Schedule of income (loss) before income taxes | Income from continuing operations before income taxes for fiscal years 2020, 2019 and 2018 is summarized as follows (in thousands):
|  | Years Ended March 31,
|  | 2020 |  | 2019 |  | 2018
Swiss |  | $ | 238,303 |  |  | $ | 212,986 |  |  | $ | 177,935 |
Non-Swiss |  | 86,023 |  |  | 58,147 |  |  | 54,330 |
Income before taxes |  | $ | 324,326 |  |  | $ | 271,133 |  |  | $ | 232,265 |
Schedule of provision (benefit) for income taxes | The provision for (benefit from) income taxes is summarized as follows (in thousands):
|  | Years Ended March 31,
|  | 2020 |  | 2019 |  | 2018
Current: |  |  |  |  |  |
Swiss |  | $ | 5,474 |  |  | $ | 1,364 |  |  | $ | 3,526 |
Non-Swiss |  | 29,078 |  |  | 24,334 |  |  | 13,142 |
Deferred: |  |  |  |  |  |
Swiss |  | (153,210 | ) |  | — |  |  | — |
Non-Swiss |  | (6,739 | ) |  | (12,138 | ) |  | 7,055 |
Provision for (benefit from) income taxes |  | $ | (125,397 | ) |  | $ | 13,560 |  |  | $ | 23,723 |
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 (benefit from) income taxes and the expected tax provision (tax benefit) at the statutory income tax rate of 8.5% is reconciled below (in thousands):
|  | Years Ended March 31,
|  | 2020 |  | 2019 |  | 2018
Expected tax provision at statutory income tax rates |  | $ | 27,568 |  |  | $ | 23,046 |  |  | $ | 19,743 |
Income taxes at different rates |  | (5,592 | ) |  | (10,113 | ) |  | (9,611 | )
Research and development tax credits |  | (4,692 | ) |  | (5,432 | ) |  | (4,124 | )
Executive compensation |  | 1,582 |  |  | 3,344 |  |  | 1,835 |
Stock-based compensation |  | (2,735 | ) |  | (7,288 | ) |  | (9,376 | )
Deferred tax effects from Tax Act |  | — |  |  | — |  |  | 22,325 |
Deferred tax effects from TRAF |  | (206,792 | ) |  | — |  |  | — |
Valuation allowance |  | (538 | ) |  | 1,891 |  |  | 533 |
Restructuring charges / (credits) |  | 12 |  |  | 961 |  |  | (10 | )
Unrecognized tax benefits |  | 64,683 |  |  | 8,269 |  |  | 3,627 |
Other, net |  | 1,107 |  |  | (1,118 | ) |  | (1,219 | )
Provision for (benefit from) income taxes |  | $ | (125,397 | ) |  | $ | 13,560 |  |  | $ | 23,723 |
Schedule of deferred income tax assets and liabilities | Deferred income tax assets and liabilities consist of the following (in thousands):
|  | March 31,
|  | 2020 |  | 2019
Deferred tax assets: |  |  |  |  |  |
Net operating loss carryforwards |  | $ | 17,065 |  |  | $ | 16,323 |
Tax credit carryforwards |  | 56,910 |  |  | 52,263 |
Accruals |  | 57,923 |  |  | 52,304 |
Depreciation and amortization |  | 4,831 |  |  | 5,716 |
Tax step-up of goodwill from TRAF |  | 151,220 |  |  | — |
Share-based compensation |  | 10,947 |  |  | 8,703 |
Gross deferred tax assets |  | 298,896 |  |  | 135,309 |
Valuation allowance |  | (29,171 | ) |  | (28,375 | )
Gross deferred tax assets after valuation allowance |  | 269,725 |  |  | 106,934 |
Deferred tax liabilities: |  |  |  |  |  |
Acquired intangible assets and other |  | (31,128 | ) |  | (18,176 | )
Gross deferred tax liabilities |  | (31,128 | ) |  | (18,176 | )
Deferred tax assets, net |  | $ | 238,597 |  |  | $ | 88,758 |
Summary of aggregate changes in gross unrecognized tax benefits | The aggregate changes in gross unrecognized tax benefits in fiscal years 2020, 2019 and 2018 were as follows (in thousands). Fiscal year 2020 includes gross unrecognized tax benefits recorded as a result of the enactment of TRAF in Switzerland:
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 |
Lapse of statute of limitations |  | (3,501 | )
Decreases in balances related to tax positions taken during prior years |  | (679 | )
Increases in balances related to tax positions taken during the year |  | 71,128 |
March 31, 2020 |  | $ | 143,497 |

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