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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Income Before Income Taxes | Income from continuing operations before income taxes for fiscal years 2023, 2022 and 2021 is summarized as follows (in thousands):
|  | Years Ended March 31,
|  | 2023 |  | 2022 |  | 2021
Swiss |  | $ | 282,970 |  |  | $ | 579,258 |  |  | $ | 984,185 |
Non-Swiss |  | 180,552 |  |  | 196,560 |  |  | 163,935 |
Income before taxes |  | $ | 463,522 |  |  | $ | 775,818 |  |  | $ | 1,148,120 |
Schedule of Provision (Benefit) for Income Taxes | The provision for (benefit from) income taxes is summarized as follows (in thousands):
|  | Years Ended March 31,
|  | 2023 |  | 2022 |  | 2021
Current: |  |  |  |  |  |
Swiss |  | $ | 19,405 |  |  | $ | 59,659 |  |  | $ | 121,199 |
Non-Swiss |  | 48,829 |  |  | 44,094 |  |  | 45,056 |
Deferred: |  |  |  |  |  |
Swiss |  | 26,629 |  |  | 29,198 |  |  | 31,558 |
Non-Swiss |  | 4,085 |  |  | (1,646) |  |  | 3,050 |
Provision for income taxes |  | $ | 98,947 |  |  | $ | 131,305 |  |  | $ | 200,863 |
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,
|  | 2023 |  | 2022 |  | 2021
Expected tax provision at statutory income tax rates |  | $ | 39,399 |  |  | $ | 65,945 |  |  | $ | 97,590 |
Income taxes at different rates |  | 38,467 |  |  | 61,296 |  |  | 88,760 |
Research and development tax credits |  | (152) |  |  | (5,957) |  |  | (3,844) |
Executive compensation |  | 749 |  |  | 4,683 |  |  | 4,821 |
Stock-based compensation |  | 5,736 |  |  | (9,141) |  |  | (3,161) |
Deferred tax effects from TRAF |  | — |  |  | — |  |  | 1,944 |
Valuation allowance |  | 908 |  |  | 887 |  |  | (247) |
Impairment |  | 1,881 |  |  | — |  |  | — |
Restructuring charges / (credits) |  | (1,764) |  |  | — |  |  | (5) |
Unrecognized tax benefits |  | 13,284 |  |  | 16,577 |  |  | 15,978 |
Audit settlement |  | — |  |  | (3,655) |  |  | — |
Other, net |  | 439 |  |  | 670 |  |  | (973) |
Provision for income taxes |  | $ | 98,947 |  |  | $ | 131,305 |  |  | $ | 200,863 |
Schedule of Deferred Income Tax Assets and Liabilities | Deferred income tax assets and liabilities consist of the following (in thousands):
|  | March 31,
|  | 2023 |  | 2022
Deferred tax assets: |  |  |  |
Tax attributes carryforward |  | $ | 36,700 |  |  | $ | 34,736 |
Accruals |  | 85,786 |  |  | 88,060 |
Depreciation and amortization |  | 707 |  |  | 585 |
Tax step-up of goodwill from TRAF |  | 100,514 |  |  | 118,000 |
Share-based compensation |  | 11,093 |  |  | 13,152 |
Gross deferred tax assets |  | 234,800 |  |  | 254,533 |
Valuation allowance |  | (30,766) |  |  | (29,858) |
Deferred tax assets after valuation allowance |  | 204,034 |  |  | 224,675 |
Deferred tax liabilities: |  |  |  |
Acquired intangible assets and other |  | (34,848) |  |  | (33,008) |
Deferred tax liabilities |  | (34,848) |  |  | (33,008) |
Deferred tax assets, net |  | $ | 169,186 |  |  | $ | 191,667 |
Schedule of Aggregate Changes in Gross Unrecognized Tax Benefits | The aggregate changes in gross unrecognized tax benefits in fiscal years 2023, 2022 and 2021 were as follows (in thousands).
March 31, 2020 |  | $ | 143,497 |
Lapse of statute of limitations |  | (4,024) |
Increases in balances related to tax positions taken during the year |  | 23,780 |
March 31, 2021 |  | $ | 163,253 |
Lapse of statute of limitations |  | (4,232) |
Settlements with taxing authorities |  | (2,015) |
Increases in balances related to tax positions taken during the year |  | 22,366 |
March 31, 2022 |  | $ | 179,372 |
Lapse of statute of limitations |  | (3,586) |
Increases in balances related to tax positions taken during the year |  | 15,214 |
March 31, 2023 |  | $ | 191,000 |

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