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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Income from continuing operations before income taxes for fiscal years 2025, 2024 and 2023 is summarized as follows (in thousands):

						Years Ended March 31,
						2025						2024						2023
Swiss						$	492,941					$	502,291					$	282,970
Non-Swiss						213,931						119,305						180,552
Income before taxes						$	706,872					$	621,596					$	463,522

Schedule of Provision for Income Taxes

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

						Years Ended March 31,
						2025						2024						2023
Current:
Swiss						$	(14,673)					$	26,833					$	19,405
Non-Swiss						33,473						25,044						48,829
Deferred:
Swiss						45,283						(47,517)						26,629
Non-Swiss						11,260						5,093						4,085
Provision for income taxes						$	75,343					$	9,453					$	98,947

Schedule of Difference Between the Provision for Income Taxes and Expected Tax Provision (Benefit) at the Statutory Income Tax Rate

The difference between the provision for income taxes and the expected tax provision at the Swiss statutory income tax rate of 8.5% is reconciled below (in thousands):

						Years Ended March 31,
						2025						2024						2023
Expected tax provision at statutory income tax rates						$	60,084					$	52,836					$	39,399
Income taxes at different rates						68,212						47,595						38,467
Research and development tax credits						(6,797)						(9,738)						(152)
Swiss Tax Benefits						—						(50,051)						—
Executive compensation						980						407						749
Stock-based compensation						(2,162)						4,019						5,736
Deferred tax effects from TRAF						—						(33,926)						—
Valuation allowance						1,000						4,780						908
Impairment						—						—						1,881
Restructuring credits						(817)						—						(1,764)
Unrecognized tax benefits/ Audit resolution and statute lapse						(43,333)						11,535						13,284
FDII deduction						(1,424)						(18,675)						—
Other, net						(400)						671						439
Provision for income taxes						$	75,343					$	9,453					$	98,947

Schedule of Deferred Income Tax Assets and Liabilities

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

						March 31,
						2025						2024
Deferred tax assets:
Tax attributes carryforward						$	43,536					$	43,846
Future tax deduction from Swiss Tax Benefits						48,267						49,755
Accruals						72,114						77,302
Tax step-up of goodwill from TRAF						86,519						105,942
Share-based compensation						15,411						13,718
Gross deferred tax assets						265,847						290,563
Valuation allowance						(36,537)						(35,536)
Deferred tax assets after valuation allowance						229,310						255,027
Deferred tax liabilities:
Acquired intangible assets and other						(27,788)						(30,901)
Deferred tax liabilities						(27,788)						(30,901)
Deferred tax assets, net						$	201,522					$	224,126

Schedule of Aggregate Changes in Gross Unrecognized Tax Benefits

The aggregate changes in gross unrecognized tax benefits in fiscal years 2025, 2024 and 2023 were as follows (in thousands):

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
Lapse of statute of limitations						(25,075)
Settlements with taxing authorities						(32,314)
Increases (decreases) in balances related to tax positions taken during prior years						(3,055)
Increases in balances related to tax positions taken during the year						2,213
March 31, 2025						$	151,984

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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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