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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income (loss) before income taxes

Income from continuing operations before income taxes for fiscal years 2021, 2020 and 2019 is summarized as follows (in thousands):

						Years Ended March 31,
						2021						2020						2019
Swiss						$	984,185					$	238,303					$	212,986
Non-Swiss						163,935						86,023						58,147
Income before taxes						$	1,148,120					$	324,326					$	271,133

Schedule of provision (benefit) for income taxes

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

						Years Ended March 31,
						2021						2020						2019
Current:
Swiss						$	121,199					$	5,474					$	1,364
Non-Swiss						45,056						29,078						24,334
Deferred:
Swiss						31,558						(153,210)						—
Non-Swiss						3,050						(6,739)						(12,138)
Provision for (benefit from) income taxes						$	200,863					$	(125,397)					$	13,560

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,
						2021						2020						2019
Expected tax provision at statutory income tax rates						$	97,590					$	27,568					$	23,046
Income taxes at different rates						88,760						(5,592)						(10,113)
Research and development tax credits						(3,844)						(4,692)						(5,432)
Executive compensation						4,821						1,582						3,344
Stock-based compensation						(3,161)						(2,735)						(7,288)
Deferred tax effects from TRAF						1,944						(206,792)						—
Valuation allowance						(247)						(538)						1,891
Restructuring charges / (credits)						(5)						12						961
Unrecognized tax benefits						15,978						64,683						8,269
Other, net						(973)						1,107						(1,118)
Provision for (benefit from) income taxes						$	200,863					$	(125,397)					$	13,560

Schedule of deferred income tax assets and liabilities

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

						March 31,
						2021						2020
Deferred tax assets:
Tax attributes carryforward						$	42,482					$	73,975
Accruals						79,884						57,923
Depreciation and amortization						1,628						4,831
Tax step-up of goodwill from TRAF						134,122						151,220
Share-based compensation						12,784						10,947
Gross deferred tax assets						270,900						298,896
Valuation allowance						(28,926)						(29,171)
Deferred tax assets after valuation allowance						241,974						269,725
Deferred tax liabilities:
Acquired intangible assets and other						(32,789)						(31,128)
Deferred tax liabilities						(32,789)						(31,128)
Deferred tax assets, net						$	209,185					$	238,597

Summary of aggregate changes in gross unrecognized tax benefits

The aggregate changes in gross unrecognized tax benefits in fiscal years 2021, 2020 and 2019 were as follows (in thousands).

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
Lapse of statute of limitations						(4,024)
Decreases in balances related to tax positions taken during prior years						—
Increases in balances related to tax positions taken during the year						23,780
March 31, 2021						$	163,253

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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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