Balance Sheet Details

12 Months Ended

Mar. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Details

(10) BALANCE SHEET DETAILS

Property and Equipment, Net

Property and equipment, net, as of March 31, 2022 and 2021 consisted of (in millions):

	As of March 31,
	2022		2021
Computer, equipment and software	$	853	$	808
Buildings	375		370
Leasehold improvements	202		172
Equipment, furniture and fixtures, and other	95		93
Land	66		66
Construction in progress	30		12
	1,621		1,521
Less: accumulated depreciation	(1,071)		(1,030)
Property and equipment, net	$	550	$	491

Depreciation expense associated with property and equipment was $162 million, $138 million and $120 million for the fiscal years ended March 31, 2022, 2021 and 2020, respectively.

Accrued and Other Current Liabilities

Accrued and other current liabilities as of March 31, 2022 and 2021 consisted of (in millions):

	As of March 31,
	2022		2021
Other accrued expenses	$	304	$	351
Accrued compensation and benefits	500		494
Accrued royalties	203		210
Sales returns and price protection reserves	144		115
Deferred net revenue (other)	156		95
Operating lease liabilities (See Note 13)	81		76
Accrued and other current liabilities	$	1,388	$	1,341

Deferred net revenue (other) includes the deferral of subscription revenue, licensing arrangements, advertising revenue, and other revenue for which revenue recognition criteria have not been met.

Deferred net revenue

Deferred net revenue as of March 31, 2022 and 2021, consisted of (in millions):

	As of March 31,
	2022		2021
Deferred net revenue (online-enabled games)	$	2,024	$	1,527
Deferred net revenue (other)	156		95
Deferred net revenue (noncurrent)	68		14
Total deferred net revenue	$	2,248	$	1,636

During the fiscal years ended March 31, 2022 and 2021, we recognized $1,613 million and $1,010 million of revenues, respectively, that were included in the deferred net revenue balance at the beginning of the period.

Remaining Performance Obligations

As of March 31, 2022, revenue allocated to remaining performance obligations consists of our deferred revenue balance of $2,248 million and amounts to be invoiced in future periods of $45 million, of which $29 million are expected to be recognized as revenue over the next 12 months, and the remainder thereafter. These balances exclude any estimates for future variable consideration as we have elected the optional exemption to exclude sales-based royalty revenue.