INCOME TAXES

6 Months Ended

Sep. 30, 2019

Income Tax Disclosure [Abstract]

INCOME TAXES

INCOME TAXES

The Company's effective income tax rates were 60.1% and 9.1% for the three months ended September 30, 2019 and 2018, respectively. Generally, the effective tax rate differs from the statutory tax rate due to state income taxes, foreign withholding taxes, the Global Intangible Low Taxes Income inclusion and earnings in jurisdictions subject to tax rates higher than the U.S. statutory rate partially offset by the tax benefit associated with research and development tax credits, foreign tax credits and the Foreign Derived Intangible Income deduction. The effective tax rate for the three months ended September 30, 2019 was higher than the effective rate for the three months ended September 30, 2018, primarily due to a discrete item recorded in the quarter related to stock-based compensation and a significant change in the pre-tax loss.

The Company's effective income tax rates were 17.7% and 19.7% for the six months ended September 30, 2019 and 2018, respectively. Generally, the effective tax rate differs from the statutory tax rate due to state income taxes, foreign withholding taxes, the Global Intangible Low Taxes Income inclusion and earnings in jurisdictions subject to tax rates higher than the U.S. statutory rate partially offset by the tax benefit associated with research and development tax credits, foreign tax credits and the Foreign Derived Intangible Income deduction. The effective tax rate for the six months ended September 30, 2019 was lower than the effective rate for the six months ended September 30, 2018, primarily due to discrete items relating to establishing new U.S. deferred tax liabilities due to several of our foreign subsidiaries making elections in the first quarter to be treated as U.S. branches for federal income tax purposes and stock-based compensation.