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Income Taxes
 9 Months Ended
Dec. 31, 2021
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
 
The Company is incorporated in Switzerland but operates in various countries with differing tax laws and rates. Further, a portion of the Company’s income before taxes and the provision for (benefit from) income taxes are generated outside of Switzerland.

The income tax provision for the three months ended December 31, 2021 was $49.3 million based on an effective income tax rate of 19.0% of pre-tax income, compared to an income tax provision of $72.3 million based on an effective income tax rate of 15.9% of pre-tax income for the three months ended December 31, 2020. The income tax provision for the nine months ended December 31, 2021 was $107.8 million based on an effective income tax rate of 16.7% of pre-tax income, compared to an income tax provision of $142.6 million based on an effective income tax rate of 16.5% of pre-tax income for the nine months ended December 31, 2020.

The change in the effective income tax rate for the three and nine months ended December 31, 2021, compared to the same periods ended December 31, 2020 was primarily due to the mix of income and losses in the
various tax jurisdictions in which the Company operates. There were discrete tax benefits of $0.8 million and $1.3 million from the recognition of excess tax benefits in the United States and reversal of uncertain tax positions from the expiration of statutes of limitations, respectively, in the three-month period ended December 31, 2021, compared with $1.3 million and $1.4 million, respectively, in the three-month period ended December 31, 2020. There were discrete tax benefits of $15.2 million and $2.8 million from the recognition of excess tax benefits in the United States and the reversal of uncertain tax positions from the expiration of statutes of limitations, respectively, in the nine-month period ended December 31, 2021, compared with $7.2 million and $2.9 million, respectively, in the nine-month period ended December 31, 2020.

As of December 31, 2021 and March 31, 2021, the total amount of unrecognized tax benefits due to uncertain tax positions was $178.6 million and $160.3 million, respectively, all of which would affect the effective income tax rate if recognized.

As of December 31, 2021 and March 31, 2021, the Company had $85.6 million and $59.2 million, respectively, in non-current income taxes payable including interest and penalties, related to the Company's income tax liability for uncertain tax positions.
 
The Company recognizes interest and penalties related to unrecognized tax positions in the income tax provision. As of December 31, 2021 and March 31, 2021, the Company had $5.7 million and $4.9 million, respectively, of accrued interest and penalties related to uncertain tax positions in non-current income taxes payable.
 
Although the Company has adequately provided for uncertain tax positions, the provisions related to these positions may change as revised estimates are made or the underlying matters are settled or otherwise resolved. During fiscal year 2022, the Company continues to review its tax positions and provide for or reverse unrecognized tax benefits as they arise. During the next twelve months, it is reasonably possible that the amount of unrecognized tax benefits could increase or decrease significantly due to changes in tax law in various jurisdictions, new tax audits and changes in the U.S. dollar as compared to other currencies. Excluding these factors, uncertain tax positions may decrease by as much as $5.2 million from the lapse of the statutes of limitations in various jurisdictions during the next twelve months.