Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Components Of Income Before Provision For (Benefit From) Income Taxes

The components of our income before provision for (benefit from) income taxes for the fiscal years ended March 31, 2021, 2020 and 2019 are as follows (in millions):

	Year Ended March 31,
	2021		2020		2019
Domestic	$	299	$	380	$	170
Foreign	718		1,128		909
Income before provision for (benefit from) income taxes	$	1,017	$	1,508	$	1,079

Provision For (Benefit From) Income Taxes

Provision for (benefit from) income taxes for the fiscal years ended March 31, 2021, 2020 and 2019 consisted of (in millions):

	Current		Deferred		Total
Year Ended March 31, 2021
Federal	$	251	$	(26)	$	225
State	24		(2)		22
Foreign	47		(114)		(67)
	$	322	$	(142)	$	180
Year Ended March 31, 2020
Federal	$	258	$	(14)	$	244
State	39		(2)		37
Foreign	48		(1,860)		(1,812)
	$	345	$	(1,876)	$	(1,531)
Year Ended March 31, 2019
Federal	$	29	$	(18)	$	11
State	5		—		5
Foreign	42		2		44
	$	76	$	(16)	$	60

Schedule Of Differences Between Statutory Tax Rate And Effective Tax Rate

The differences between the statutory tax rate and our effective tax rate, expressed as a percentage of income before provision for (benefit from) income taxes, for the fiscal years ended March 31, 2021, 2020 and 2019 were as follows:

	Year Ended March 31,
	2021		2020		2019
Statutory federal tax expense rate	21.0	%	21.0	%	21.0	%
State taxes, net of federal benefit	1.7	%	1.0	%	0.7	%
Differences between statutory rate and foreign effective tax rate	7.0	%	(8.4)	%	(14.4)	%
Tax reform	—	%	—	%	(0.4)	%
Excess tax benefit from equity compensation	(2.7)	%	(0.1)	%	(1.9)	%
Research and development credits	(2.4)	%	(1.2)	%	(2.4)	%
Swiss Deferred Tax Asset	(10.1)	%	(122.1)	%	—	%
The Altera opinion	—	%	5.4	%	—	%
Non-deductible stock-based compensation	3.3	%	2.3	%	2.3	%
Other	(0.1)	%	0.6	%	0.7	%
Effective tax rate	17.7	%	(101.5)	%	5.6	%

Deferred Tax Assets And Liabilities

The components of net deferred tax assets, as of March 31, 2021 and 2020 consisted of (in millions):

	As of March 31,
	2021		2020
Deferred tax assets:
Accruals, reserves and other expenses	$	158	$	141
Tax credit carryforwards	161		137
Stock-based compensation	43		37
Net operating loss and capital loss carryforwards	258		195
Swiss intra-entity tax asset	1,781		1,818
Total	2,401		2,328
Valuation allowance	(230)		(288)
Deferred tax assets, net of valuation allowance	2,171		2,040
Deferred tax liabilities:
Amortization and depreciation	(140)		(85)
ASC 606 Revenue Recognition	(21)		(43)
Other	(8)		(10)
Total	(169)		(138)
Deferred tax assets, net of valuation allowance and deferred tax liabilities	$	2,002	$	1,902

Schedule Of Unrecognized Tax Benefits

Balance as of March 31, 2018	$	457
Increases in unrecognized tax benefits related to prior year tax positions	—
Decreases in unrecognized tax benefits related to prior year tax positions	(41)
Increases in unrecognized tax benefits related to current year tax positions	43
Decreases in unrecognized tax benefits related to settlements with taxing authorities	(16)
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations	(21)
Changes in unrecognized tax benefits due to foreign currency translation	(5)
Balance as of March 31, 2019	417
Increases in unrecognized tax benefits related to prior year tax positions	111
Decreases in unrecognized tax benefits related to prior year tax positions	(4)
Increases in unrecognized tax benefits related to current year tax positions	468
Decreases in unrecognized tax benefits related to settlements with taxing authorities	—
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations	(5)
Changes in unrecognized tax benefits due to foreign currency translation	(4)
Balance as of March 31, 2020	983
Increases in unrecognized tax benefits related to prior year tax positions	12
Decreases in unrecognized tax benefits related to prior year tax positions	(444)
Increases in unrecognized tax benefits related to current year tax positions	55
Decreases in unrecognized tax benefits related to settlements with taxing authorities	(2)
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations	(27)
Changes in unrecognized tax benefits due to foreign currency translation	7
Balance as of March 31, 2021	$	584