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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Income from continuing operations before income taxes for fiscal years 2024, 2023 and 2022 is summarized as follows (in thousands):

						Years Ended March 31,
						2024						2023						2022
Swiss						$	502,291					$	282,970					$	579,258
Non-Swiss						119,305						180,552						196,560
Income before taxes						$	621,596					$	463,522					$	775,818

Schedule of Provision (Benefit) for Income Taxes

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

						Years Ended March 31,
						2024						2023						2022
Current:
Swiss						$	26,833					$	19,405					$	59,659
Non-Swiss						25,044						48,829						44,094
Deferred:
Swiss						(47,517)						26,629						29,198
Non-Swiss						5,093						4,085						(1,646)
Provision for income taxes						$	9,453					$	98,947					$	131,305

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 Swiss statutory income tax rate of 8.5% is reconciled below (in thousands):

						Years Ended March 31,
						2024						2023						2022
Expected tax provision at statutory income tax rates						$	52,836					$	39,399					$	65,945
Income taxes at different rates						47,595						38,467						61,296
Research and development tax credits						(9,738)						(152)						(5,957)
Swiss Tax Ruling						(50,051)						—						—
Executive compensation						407						749						4,683
Stock-based compensation						4,019						5,736						(9,141)
Deferred tax effects from TRAF						(33,926)						—						—
Valuation allowance						4,780						908						887
Impairment						—						1,881						—
Restructuring charges / (credits)						—						(1,764)						—
Unrecognized tax benefits						11,535						13,284						16,577
Audit settlement						—						—						(3,655)
FDII deduction						(18,675)						—						—
Other, net						671						439						670
Provision for income taxes						$	9,453					$	98,947					$	131,305

Schedule of Deferred Income Tax Assets and Liabilities

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

						March 31,
						2024						2023
Deferred tax assets:
Tax attributes carryforward						$	43,846					$	36,700
Future tax deduction from Swiss Tax Ruling						49,755						—
Accruals						77,181						85,786
Depreciation and amortization						121						707
Tax step-up of goodwill from TRAF						105,942						100,514
Share-based compensation						13,718						11,093
Gross deferred tax assets						290,563						234,800
Valuation allowance						(35,536)						(30,766)
Deferred tax assets after valuation allowance						255,027						204,034
Deferred tax liabilities:
Acquired intangible assets and other						(30,901)						(34,848)
Deferred tax liabilities						(30,901)						(34,848)
Deferred tax assets, net						$	224,126					$	169,186

Schedule of Aggregate Changes in Gross Unrecognized Tax Benefits

The aggregate changes in gross unrecognized tax benefits in fiscal years 2024, 2023 and 2022 were as follows (in thousands).

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
Lapse of statute of limitations						(3,863)
Settlements with taxing authorities						41
Increases in balances related to tax positions taken during prior years						705
Increases in balances related to tax positions taken during the year						22,332
March 31, 2024						$	210,215

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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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