QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | |||||||||||||
(Address of principal executive offices) | (Zip Code) |
Title of Each Class | Trading Symbol | Name of Each Exchange on Which Registered | ||||||||||||
☑ | Accelerated filer | ☐ | |||||||||
Non-accelerated filer | ☐ | Smaller reporting company | |||||||||
Emerging growth company | ☐ |
Page | ||||||||
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 5. | ||||||||
Item 6. | ||||||||
(Unaudited) (In millions, except par value data) | December 31, 2023 | March 31, 2023 (a) | |||||||||
ASSETS | |||||||||||
Current assets: | |||||||||||
Cash and cash equivalents | $ | $ | |||||||||
Short-term investments | |||||||||||
Receivables, net | |||||||||||
Other current assets | |||||||||||
Total current assets | |||||||||||
Property and equipment, net | |||||||||||
Goodwill | |||||||||||
Acquisition-related intangibles, net | |||||||||||
Deferred income taxes, net | |||||||||||
Other assets | |||||||||||
TOTAL ASSETS | $ | $ | |||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||||||
Current liabilities: | |||||||||||
Accounts payable | $ | $ | |||||||||
Accrued and other current liabilities | |||||||||||
Deferred net revenue (online-enabled games) | |||||||||||
Total current liabilities | |||||||||||
Senior notes, net | |||||||||||
Income tax obligations | |||||||||||
Deferred income taxes, net | |||||||||||
Other liabilities | |||||||||||
Total liabilities | |||||||||||
Stockholders’ equity: | |||||||||||
Common stock, $ | |||||||||||
Additional paid-in capital | |||||||||||
Retained earnings | |||||||||||
Accumulated other comprehensive income (loss) | ( | ( | |||||||||
Total stockholders’ equity | |||||||||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | $ |
(Unaudited) | Three Months Ended December 31, | Nine Months Ended December 31, | |||||||||||||||||||||
(In millions, except per share data) | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
Net revenue | $ | $ | $ | $ | |||||||||||||||||||
Cost of revenue | |||||||||||||||||||||||
Gross profit | |||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||
Research and development | |||||||||||||||||||||||
Marketing and sales | |||||||||||||||||||||||
General and administrative | |||||||||||||||||||||||
Amortization and impairment of intangibles | |||||||||||||||||||||||
Total operating expenses | |||||||||||||||||||||||
Operating income | |||||||||||||||||||||||
Interest and other income (expense), net | ( | ( | |||||||||||||||||||||
Income before provision for income taxes | |||||||||||||||||||||||
Provision for income taxes | |||||||||||||||||||||||
Net income | $ | $ | $ | $ | |||||||||||||||||||
Earnings per share: | |||||||||||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||||||||||
Diluted | $ | $ | $ | $ | |||||||||||||||||||
Number of shares used in computation: | |||||||||||||||||||||||
Basic | |||||||||||||||||||||||
Diluted |
(Unaudited) | Three Months Ended December 31, | Nine Months Ended December 31, | |||||||||||||||||||||
(In millions) | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
Net income | $ | $ | $ | $ | |||||||||||||||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||||||||||
Net gains (losses) on available-for-sale securities | |||||||||||||||||||||||
Net gains (losses) on derivative instruments | ( | ( | ( | ||||||||||||||||||||
Foreign currency translation adjustments | ( | ||||||||||||||||||||||
Total other comprehensive income (loss), net of tax | ( | ( | ( | ( | |||||||||||||||||||
Total comprehensive income | $ | $ | $ | $ |
(Unaudited) | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (loss) | Total Stockholders’ Equity | |||||||||||||||||||||||||||||||||
(In millions, except share data in thousands) | Shares | Amount | ||||||||||||||||||||||||||||||||||||
Balances as of March 31, 2023 | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | — | — | ||||||||||||||||||||||||||||||||||
Issuance of common stock | — | ( | — | — | ( | |||||||||||||||||||||||||||||||||
Common stock repurchases and excise tax | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
Balances as of June 30, 2023 | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | |||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | — | — | ||||||||||||||||||||||||||||||||||
Issuance of common stock | — | — | — | |||||||||||||||||||||||||||||||||||
Common stock repurchases and excise tax | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
Balances as of September 30, 2023 | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | — | — | ||||||||||||||||||||||||||||||||||
Issuance of common stock | — | ( | — | — | ( | |||||||||||||||||||||||||||||||||
Common stock repurchases and excise tax | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
Balances as of December 31, 2023 | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||
(Unaudited) | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (loss) | Total Stockholders’ Equity | |||||||||||||||||||||||||||||||||
(In millions, except share data in thousands) | Shares | Amount | ||||||||||||||||||||||||||||||||||||
Balances as of March 31, 2022 | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | |||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | — | — | ||||||||||||||||||||||||||||||||||
Issuance of common stock | — | ( | — | — | ( | |||||||||||||||||||||||||||||||||
Common stock repurchases | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
Balances as of June 30, 2022 | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | |||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | — | — | ||||||||||||||||||||||||||||||||||
Issuance of common stock | — | — | — | |||||||||||||||||||||||||||||||||||
Common stock repurchases | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
Balances as of September 30, 2022 | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||
Total comprehensive income | — | — | — | ( | ||||||||||||||||||||||||||||||||||
Stock-based compensation | — | — | — | — | ||||||||||||||||||||||||||||||||||
Issuance of common stock | — | ( | — | — | ( | |||||||||||||||||||||||||||||||||
Common stock repurchases | ( | — | ( | ( | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
Balances as of December 31, 2022 | $ | $ | $ | $ | ( | $ |
(Unaudited) | Nine Months Ended December 31, | ||||||||||
(In millions) | 2023 | 2022 | |||||||||
OPERATING ACTIVITIES | |||||||||||
Net income | $ | $ | |||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
Depreciation, amortization, accretion and impairment | |||||||||||
Stock-based compensation | |||||||||||
Change in assets and liabilities: | |||||||||||
Receivables, net | ( | ( | |||||||||
Other assets | ( | ||||||||||
Accounts payable | ( | ( | |||||||||
Accrued and other liabilities | ( | ||||||||||
Deferred income taxes, net | ( | ||||||||||
Deferred net revenue (online-enabled games) | ( | ||||||||||
Net cash provided by operating activities | |||||||||||
INVESTING ACTIVITIES | |||||||||||
Capital expenditures | ( | ( | |||||||||
Proceeds from maturities and sales of short-term investments | |||||||||||
Purchase of short-term investments | ( | ( | |||||||||
Net cash used in investing activities | ( | ( | |||||||||
FINANCING ACTIVITIES | |||||||||||
Proceeds from issuance of common stock | |||||||||||
Cash dividends paid | ( | ( | |||||||||
Cash paid to taxing authorities for shares withheld from employees | ( | ( | |||||||||
Common stock repurchases | ( | ( | |||||||||
Net cash used in financing activities | ( | ( | |||||||||
Effect of foreign exchange on cash and cash equivalents | ( | ||||||||||
Increase (decrease) in cash and cash equivalents | ( | ||||||||||
Beginning cash and cash equivalents | |||||||||||
Ending cash and cash equivalents | $ | $ | |||||||||
Supplemental cash flow information: | |||||||||||
Cash paid during the period for income taxes, net | $ | $ | |||||||||
Cash paid during the period for interest | |||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||||||||||||||
As of December 31, 2023 | Quoted Prices in Active Markets for Identical Financial Instruments | Significant Other Observable Inputs | Significant Unobservable Inputs | Balance Sheet Classification | |||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||
Bank and time deposits | $ | $ | $ | $ | Cash equivalents | ||||||||||||||||||||||||
Money market funds | Cash equivalents | ||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||
Corporate bonds | Short-term investments | ||||||||||||||||||||||||||||
U.S. Treasury securities | Short-term investments | ||||||||||||||||||||||||||||
U.S. agency securities | Short-term investments | ||||||||||||||||||||||||||||
Commercial paper | Short-term investments and cash equivalents | ||||||||||||||||||||||||||||
Foreign government securities | Short-term investments | ||||||||||||||||||||||||||||
Asset-backed securities | Short-term investments | ||||||||||||||||||||||||||||
Certificates of deposit | Short-term investments | ||||||||||||||||||||||||||||
Foreign currency derivatives | Other current assets and other assets | ||||||||||||||||||||||||||||
Deferred compensation plan assets (a) | Other assets | ||||||||||||||||||||||||||||
Total assets at fair value | $ | $ | $ | $ | |||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Foreign currency derivatives | $ | $ | $ | $ | Accrued and other current liabilities and other liabilities | ||||||||||||||||||||||||
Deferred compensation plan liabilities (a) | Other liabilities | ||||||||||||||||||||||||||||
Total liabilities at fair value | $ | $ | $ | $ |
Fair Value Measurements at Reporting Date Using | |||||||||||||||||||||||||||||
As of March 31, 2023 | Quoted Prices in Active Markets for Identical Financial Instruments | Significant Other Observable Inputs | Significant Unobservable Inputs | Balance Sheet Classification | |||||||||||||||||||||||||
(Level 1) | (Level 2) | (Level 3) | |||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||
Bank and time deposits | $ | $ | $ | $ | Cash equivalents | ||||||||||||||||||||||||
Money market funds | Cash equivalents | ||||||||||||||||||||||||||||
Available-for-sale securities: | |||||||||||||||||||||||||||||
Corporate bonds | Short-term investments | ||||||||||||||||||||||||||||
U.S. Treasury securities | Short-term investments | ||||||||||||||||||||||||||||
U.S. agency securities | Short-term investments and cash equivalents | ||||||||||||||||||||||||||||
Commercial paper | Short-term investments and cash equivalents | ||||||||||||||||||||||||||||
Foreign government securities | Short-term investments | ||||||||||||||||||||||||||||
Asset-backed securities | Short-term investments | ||||||||||||||||||||||||||||
Certificates of deposit | Short-term investments | ||||||||||||||||||||||||||||
Foreign currency derivatives | Other current assets and other assets | ||||||||||||||||||||||||||||
Deferred compensation plan assets (a) | Other assets | ||||||||||||||||||||||||||||
Total assets at fair value | $ | $ | $ | $ | |||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||
Foreign currency derivatives | $ | $ | $ | $ | Accrued and other current liabilities and other liabilities | ||||||||||||||||||||||||
Deferred compensation plan liabilities (a) | Other liabilities | ||||||||||||||||||||||||||||
Total liabilities at fair value | $ | $ | $ | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||
Cost or Amortized Cost | Gross Unrealized | Fair Value | Cost or Amortized Cost | Gross Unrealized | Fair Value | ||||||||||||||||||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||||||||||||||||||
Corporate bonds | $ | $ | $ | $ | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||||||||||
U.S. Treasury securities | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. agency securities | |||||||||||||||||||||||||||||||||||||||||||||||
Commercial paper | |||||||||||||||||||||||||||||||||||||||||||||||
Foreign government securities | |||||||||||||||||||||||||||||||||||||||||||||||
Asset-backed securities | |||||||||||||||||||||||||||||||||||||||||||||||
Certificates of deposit | |||||||||||||||||||||||||||||||||||||||||||||||
Short-term investments | $ | $ | $ | $ | $ | $ | $ | ( | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||
Short-term investments | |||||||||||||||||||||||
Due within 1 year | $ | $ | $ | $ | |||||||||||||||||||
Due 1 year through 5 years | |||||||||||||||||||||||
Due after 5 years | |||||||||||||||||||||||
Short-term investments | $ | $ | $ | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||||||||||||||||||||||||||
Notional Amount | Fair Value | Notional Amount | Fair Value | ||||||||||||||||||||||||||||||||
Asset | Liability | Asset | Liability | ||||||||||||||||||||||||||||||||
Forward contracts to purchase | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Forward contracts to sell | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Net revenue | Research and development | Net revenue | Research and development | Net revenue | Research and development | Net revenue | Research and development | ||||||||||||||||||||||||||||||||||||||||
Total amounts presented in our Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Gains (losses) on foreign currency forward contracts designated as cash flow hedges | $ | $ | ( | $ | $ | ( | $ | $ | ( | $ | $ | ( |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||||||||||||||||||||||||||
Notional Amount | Fair Value | Notional Amount | Fair Value | ||||||||||||||||||||||||||||||||
Asset | Liability | Asset | Liability | ||||||||||||||||||||||||||||||||
Forward contracts to purchase | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Forward contracts to sell | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Interest and other income (expense), net | |||||||||||||||||||||||
Total amounts presented in our Condensed Consolidated Statements of Operations in which the effects of balance sheet hedges are recorded | $ | $ | ( | $ | $ | ( | |||||||||||||||||
Gains (losses) on foreign currency forward contracts not designated as hedging instruments | $ | ( | $ | ( | $ | $ | ( |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | Unrealized Net Gains (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Total | ||||||||||||||||||||
Balances as of September 30, 2023 | $ | ( | $ | $ | ( | $ | ( | ||||||||||||||||
Other comprehensive income (loss) before reclassifications | ( | ( | |||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | ( | ( | |||||||||||||||||||||
Total other comprehensive income (loss), net of tax | ( | ( | |||||||||||||||||||||
Balances as of December 31, 2023 | $ | $ | ( | $ | ( | $ | ( |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | Unrealized Net Gains (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Total | ||||||||||||||||||||
Balances as of September 30, 2022 | $ | ( | $ | $ | ( | $ | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | ( | ( | |||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | ( | ( | |||||||||||||||||||||
Total other comprehensive income (loss), net of tax | ( | ( | |||||||||||||||||||||
Balances as of December 31, 2022 | $ | ( | $ | $ | ( | $ | ( |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | Unrealized Net Gains (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Total | ||||||||||||||||||||
Balances as of March 31, 2023 | $ | ( | $ | $ | ( | $ | ( | ||||||||||||||||
Other comprehensive income (loss) before reclassifications | |||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | ( | ( | |||||||||||||||||||||
Total other comprehensive income (loss), net of tax | ( | ( | |||||||||||||||||||||
Balances as of December 31, 2023 | $ | $ | ( | $ | ( | $ | ( |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | Unrealized Net Gains (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Total | ||||||||||||||||||||
Balances as of March 31, 2022 | $ | ( | $ | $ | ( | $ | |||||||||||||||||
Other comprehensive income (loss) before reclassifications | ( | ||||||||||||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | ( | ( | |||||||||||||||||||||
Total other comprehensive income (loss), net of tax | ( | ( | |||||||||||||||||||||
Balances as of December 31, 2022 | $ | ( | $ | $ | ( | $ | ( |
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | ||||||||||||||
Statement of Operations Classification | Three Months Ended December 31, 2023 | Nine Months Ended December 31, 2023 | ||||||||||||
(Gains) losses on foreign currency forward contracts designated as cash flow hedges | ||||||||||||||
Net revenue | $ | ( | $ | ( | ||||||||||
Research and development | ||||||||||||||
Total net (gain) loss reclassified, net of tax | $ | ( | $ | ( |
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | ||||||||||||||
Statement of Operations Classification | Three Months Ended December 31, 2022 | Nine Months Ended December 31, 2022 | ||||||||||||
(Gains) losses on foreign currency forward contracts designated as cash flow hedges | ||||||||||||||
Net revenue | $ | ( | $ | ( | ||||||||||
Research and development | ||||||||||||||
Total net (gain) loss reclassified, net of tax | $ | ( | $ | ( |
As of March 31, 2023 | Activity | Effects of Foreign Currency Translation | As of December 31, 2023 | ||||||||||||||||||||
Goodwill | $ | $ | $ | $ | |||||||||||||||||||
Accumulated impairment | ( | — | — | ( | |||||||||||||||||||
Total | $ | $ | $ | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||||||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Acquisition- Related Intangibles, Net | Gross Carrying Amount | Accumulated Amortization | Acquisition- Related Intangibles, Net | ||||||||||||||||||||||||||||||
Finite-lived acquisition-related intangibles | |||||||||||||||||||||||||||||||||||
Developed and core technology | $ | $ | ( | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||
Trade names and trademarks | ( | ( | |||||||||||||||||||||||||||||||||
Registered user base and other intangibles | ( | ( | |||||||||||||||||||||||||||||||||
Total finite-lived acquisition-related intangibles | $ | $ | ( | $ | $ | $ | ( | $ | |||||||||||||||||||||||||||
Indefinite-lived acquisition-related intangibles | |||||||||||||||||||||||||||||||||||
In-process research and development | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||
Total acquisition-related intangibles, net | $ | $ | ( | $ | $ | $ | ( | $ |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Cost of revenue | $ | $ | $ | $ | |||||||||||||||||||
Operating expenses | |||||||||||||||||||||||
Total | $ | $ | $ | $ |
Fiscal Year Ending March 31, | |||||
2024 (remaining three months) | $ | ||||
2025 | |||||
2026 | |||||
2027 | |||||
2028 | |||||
2029 | |||||
Total | $ |
Acquisition-Related Intangibles Impairments and Other Charges (a) | Workforce (a) | Office Space Reductions (b) | Total | ||||||||||||||||||||
$ | $ | $ | $ | ||||||||||||||||||||
Charges settled in cash | ( | ( | |||||||||||||||||||||
Non-cash items | ( | ( | ( | ||||||||||||||||||||
Liability as of March 31, 2023 | $ | $ | $ | $ | |||||||||||||||||||
Charges to operations | |||||||||||||||||||||||
Charges settled in cash | ( | ( | ( | ||||||||||||||||||||
Liability as of December 31, 2023 | $ | $ | $ | $ | |||||||||||||||||||
(a) Charges are recorded within Restructuring in the Condensed Consolidated Statement of Operations. (b) Charges are recorded within General and administrative expenses in the Condensed Consolidated Statement of Operations. |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||
Other current assets | $ | $ | |||||||||
Other assets | |||||||||||
Royalty-related assets | $ | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||
Accrued and other current liabilities | $ | $ | |||||||||
Other liabilities | |||||||||||
Royalty-related liabilities | $ | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||
Computer, equipment and software | $ | $ | |||||||||
Buildings | |||||||||||
Leasehold improvements | |||||||||||
Equipment, furniture and fixtures, and other | |||||||||||
Land | |||||||||||
Construction in progress | |||||||||||
Less: accumulated depreciation | ( | ( | |||||||||
Property and equipment, net | $ | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||
Accrued compensation and benefits | $ | $ | |||||||||
Accrued royalties | |||||||||||
Deferred net revenue (other) | |||||||||||
Operating lease liabilities | |||||||||||
Other accrued expenses | |||||||||||
Sales returns and price protection reserves | |||||||||||
Accrued and other current liabilities | $ | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||
Deferred net revenue (online-enabled games) | $ | $ | |||||||||
Deferred net revenue (other) | |||||||||||
Deferred net revenue (noncurrent) | |||||||||||
Total deferred net revenue | $ | $ |
As of December 31, 2023 | As of March 31, 2023 | ||||||||||
Senior Notes: | |||||||||||
$ | $ | ||||||||||
Total principal amount | $ | $ | |||||||||
Unaccreted discount | ( | ( | |||||||||
Unamortized debt issuance costs | ( | ( | |||||||||
Net carrying value of Senior Notes | $ | $ | |||||||||
Fair value of Senior Notes (Level 2) | $ | $ |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Amortization of debt issuance costs | $ | $ | ( | $ | ( | $ | ( | ||||||||||||||||
Coupon interest expense | ( | ( | ( | ( | |||||||||||||||||||
Other interest expense | ( | ( | |||||||||||||||||||||
Total interest expense | $ | ( | $ | ( | $ | ( | $ | ( |
Fiscal Years Ending March 31, | |||||||||||||||||||||||||||||||||||||||||||||||
2024 | |||||||||||||||||||||||||||||||||||||||||||||||
(Remaining | |||||||||||||||||||||||||||||||||||||||||||||||
Total | three mos.) | 2025 | 2026 | 2027 | 2028 | 2029 | Thereafter | ||||||||||||||||||||||||||||||||||||||||
Unrecognized commitments | |||||||||||||||||||||||||||||||||||||||||||||||
Developer/licensor commitments | $ | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||||
Marketing commitments | |||||||||||||||||||||||||||||||||||||||||||||||
Senior Notes interest | |||||||||||||||||||||||||||||||||||||||||||||||
Operating lease imputed interest | |||||||||||||||||||||||||||||||||||||||||||||||
Operating leases not yet commenced (a) | |||||||||||||||||||||||||||||||||||||||||||||||
Other purchase obligations | |||||||||||||||||||||||||||||||||||||||||||||||
Total unrecognized commitments | |||||||||||||||||||||||||||||||||||||||||||||||
Recognized commitments | |||||||||||||||||||||||||||||||||||||||||||||||
Senior Notes principal and interest | |||||||||||||||||||||||||||||||||||||||||||||||
Operating leases | |||||||||||||||||||||||||||||||||||||||||||||||
Transition Tax and other taxes | |||||||||||||||||||||||||||||||||||||||||||||||
Total recognized commitments | |||||||||||||||||||||||||||||||||||||||||||||||
Total Commitments | $ | $ | $ | $ | $ | $ | $ | $ |
Options (in thousands) | Weighted- Average Exercise Prices | Weighted- Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value (in millions) | |||||||||||||||||||||||
Outstanding as of March 31, 2023 | $ | |||||||||||||||||||||||||
Granted | ||||||||||||||||||||||||||
Exercised | ( | |||||||||||||||||||||||||
Outstanding as of December 31, 2023 | $ | $ | ||||||||||||||||||||||||
Vested and expected to vest | $ | $ | ||||||||||||||||||||||||
Exercisable as of December 31, 2023 | $ | $ |
Restricted Stock Units (in thousands) | Weighted- Average Grant Date Fair Values | ||||||||||
Outstanding as of March 31, 2023 | $ | ||||||||||
Granted | |||||||||||
Vested | ( | ||||||||||
Forfeited or cancelled | ( | ||||||||||
Outstanding as of December 31, 2023 | $ |
Performance- Based Restricted Stock Units (in thousands) | Weighted- Average Grant Date Fair Value | ||||||||||
Outstanding as of March 31, 2023 | $ | ||||||||||
Granted | |||||||||||
Vested | ( | ||||||||||
Forfeited or cancelled | ( | ||||||||||
Outstanding as of December 31, 2023 | $ |
Market-Based Restricted Stock Units (in thousands) | Weighted- Average Grant Date Fair Value | ||||||||||
Outstanding as of March 31, 2023 | $ | ||||||||||
Granted | |||||||||||
Vested | ( | ||||||||||
Forfeited or cancelled | ( | ||||||||||
Outstanding as of December 31, 2023 | $ |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Cost of revenue | $ | $ | $ | $ | |||||||||||||||||||
Research and development | |||||||||||||||||||||||
Marketing and sales | |||||||||||||||||||||||
General and administrative | |||||||||||||||||||||||
Stock-based compensation expense | $ | $ | $ | $ |
November 2020 Program | August 2022 Program | Total | |||||||||||||||||||||||||||||||||
(In millions) | Shares | Amount | Shares | Amount(a) | Shares | Amount | |||||||||||||||||||||||||||||
Three months ended December 31, 2023 | $ | $ | $ | ||||||||||||||||||||||||||||||||
Nine months ended December 31, 2023 | $ | $ | $ | ||||||||||||||||||||||||||||||||
Three months ended December 31, 2022 | $ | $ | $ | ||||||||||||||||||||||||||||||||
Nine months ended December 31, 2022 | $ | $ | $ | ||||||||||||||||||||||||||||||||
(a)Amount excludes excise taxes. Accrued excise taxes are included in accrued and other current liabilities and additional paid-in capital on the Condensed Consolidated Balance Sheets. |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
(In millions, except per share amounts) | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
Net income | $ | $ | $ | $ | |||||||||||||||||||
Shares used to compute earnings per share: | |||||||||||||||||||||||
Weighted-average common stock outstanding — basic | |||||||||||||||||||||||
Dilutive potential common shares related to stock award plans | |||||||||||||||||||||||
Weighted-average common stock outstanding — diluted | |||||||||||||||||||||||
Earnings per share: | |||||||||||||||||||||||
Basic | $ | $ | $ | $ | |||||||||||||||||||
Diluted | $ | $ | $ | $ |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Net revenue by timing of recognition | |||||||||||||||||||||||
Revenue recognized at a point in time | $ | $ | $ | $ | |||||||||||||||||||
Revenue recognized over time | |||||||||||||||||||||||
Net revenue | $ | $ | $ | $ |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Net revenue by composition | |||||||||||||||||||||||
Full game downloads | $ | $ | $ | $ | |||||||||||||||||||
Packaged goods | |||||||||||||||||||||||
Full game | |||||||||||||||||||||||
Live services and other | |||||||||||||||||||||||
Net revenue | $ | $ | $ | $ |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Platform net revenue | |||||||||||||||||||||||
Console | $ | $ | $ | $ | |||||||||||||||||||
PC and other | |||||||||||||||||||||||
Mobile | |||||||||||||||||||||||
Net revenue | $ | $ | $ | $ |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||
Net revenue from unaffiliated customers | |||||||||||||||||||||||
North America | $ | $ | $ | $ | |||||||||||||||||||
International | |||||||||||||||||||||||
Net revenue | $ | $ | $ | $ |
Three Months Ended December 31, | Nine Months Ended December 31, | ||||||||||||||||||||||
(In millions) | 2023 | 2022 | 2023 | 2022 | |||||||||||||||||||
Total net revenue | $ | 1,945 | $ | 1,881 | $ | 5,783 | $ | 5,552 | |||||||||||||||
Change in deferred net revenue (online-enabled games) | 421 | 461 | (19) | (157) | |||||||||||||||||||
Net bookings | $ | 2,366 | $ | 2,342 | $ | 5,764 | $ | 5,395 |
Three Months Ended December 31, | |||||||||||||||||||||||
2023 | 2022 | $ Change | % Change | ||||||||||||||||||||
Net revenue: | |||||||||||||||||||||||
Full game downloads | $ | 431 | $ | 423 | $ | 8 | 2 | % | |||||||||||||||
Packaged goods | 187 | 199 | (12) | (6) | % | ||||||||||||||||||
Full game | $ | 618 | $ | 622 | $ | (4) | (1) | % | |||||||||||||||
Live services and other | $ | 1,327 | $ | 1,259 | $ | 68 | 5 | % | |||||||||||||||
Total net revenue | $ | 1,945 | $ | 1,881 | $ | 64 | 3 | % |
Nine Months Ended December 31, | |||||||||||||||||||||||
2023 | 2022 | $ Change | % Change | ||||||||||||||||||||
Net revenue: | |||||||||||||||||||||||
Full game downloads | $ | 1,078 | $ | 988 | $ | 90 | 9 | % | |||||||||||||||
Packaged goods | 604 | 577 | 27 | 5 | % | ||||||||||||||||||
Full game | $ | 1,682 | $ | 1,565 | $ | 117 | 7 | % | |||||||||||||||
Live services and other | $ | 4,101 | $ | 3,987 | $ | 114 | 3 | % | |||||||||||||||
Total net revenue | $ | 5,783 | $ | 5,552 | $ | 231 | 4 | % |
December 31, 2023 | % of Net Revenue | December 31, 2022 | % of Net Revenue | % Change | Change as a % of Net Revenue | |||||||||||||||||||||||||||
$ | 529 | 27 | % | $ | 568 | 30 | % | (7) | % | (3) | % |
December 31, 2023 | % of Net Revenue | December 31, 2022 | % of Net Revenue | % Change | Change as a % of Net Revenue | |||||||||||||||||||||||||||
1,353 | 23 | % | $ | 1,344 | 24 | % | 1 | % | (1) | % |
December 31, 2023 | % of Net Revenue | December 31, 2022 | % of Net Revenue | $ Change | % Change | ||||||||||||||||||||||||||||||
Three months ended | $ | 584 | 30 | % | $ | 556 | 30 | % | $ | 28 | 5 | % | |||||||||||||||||||||||
Nine months ended | $ | 1,782 | 31 | % | $ | 1,693 | 30 | % | $ | 89 | 5 | % |
December 31, 2023 | % of Net Revenue | December 31, 2022 | % of Net Revenue | $ Change | % Change | ||||||||||||||||||||||||||||||
Three months ended | $ | 276 | 14 | % | $ | 256 | 14 | % | $ | 20 | 8 | % | |||||||||||||||||||||||
Nine months ended | $ | 785 | 14 | % | $ | 723 | 13 | % | $ | 62 | 9 | % |
December 31, 2023 | % of Net Revenue | December 31, 2022 | % of Net Revenue | $ Change | % Change | ||||||||||||||||||||||||||||||
Three months ended | $ | 170 | 9 | % | $ | 162 | 9 | % | $ | 8 | 5 | % | |||||||||||||||||||||||
Nine months ended | $ | 506 | 9 | % | $ | 503 | 9 | % | $ | 3 | 1 | % |
December 31, 2023 | Effective Tax Rate | December 31, 2022 | Effective Tax Rate | ||||||||||||||||||||
Three months ended | $ | 92 | 24 | % | $ | 78 | 28 | % | |||||||||||||||
Nine months ended | $ | 238 | 18 | % | $ | 331 | 29 | % |
(In millions) | As of December 31, 2023 | As of March 31, 2023 | Increase/(Decrease) | ||||||||||||||
Cash and cash equivalents | $ | 2,742 | $ | 2,424 | $ | 318 | |||||||||||
Short-term investments | 362 | 343 | 19 | ||||||||||||||
Total | $ | 3,104 | $ | 2,767 | $ | 337 | |||||||||||
Percentage of total assets | 23 | % | 21 | % |
Nine Months Ended December 31, | |||||||||||||||||
(In millions) | 2023 | 2022 | Change | ||||||||||||||
Net cash provided by operating activities | $ | 1,735 | $ | 933 | $ | 802 | |||||||||||
Net cash used in investing activities | (158) | (180) | 22 | ||||||||||||||
Net cash used in financing activities | (1,264) | (1,242) | (22) | ||||||||||||||
Effect of foreign exchange on cash and cash equivalents | 5 | (41) | 46 | ||||||||||||||
Net increase (decrease) in cash and cash equivalents | $ | 318 | $ | (530) | $ | 848 |
Fiscal Month | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Programs | Maximum Dollar Value that May Still Be Purchased Under the Programs (in millions) | ||||||||||||||||||||||
October 1, 2023 - October 28, 2023 | 820,432 | $ | 125.77 | 820,432 | $ | 1,202 | ||||||||||||||||||||
October 29, 2023 - November 25, 2023 | 755,929 | $ | 129.68 | 755,929 | $ | 1,104 | ||||||||||||||||||||
November 26, 2023 - December 30, 2023 | 897,480 | $ | 137.97 | 897,480 | $ | 980 | ||||||||||||||||||||
2,473,841 | $ | 131.39 | 2,473,841 |
Incorporated by Reference | ||||||||||||||||||||||||||||||||
Number | Exhibit Title | Form | File No. | Filing Date | Filed Herewith | |||||||||||||||||||||||||||
8-K | 000-17948 | 8/15/2022 | ||||||||||||||||||||||||||||||
8-K | 000-17948 | 8/15/2022 | ||||||||||||||||||||||||||||||
X | ||||||||||||||||||||||||||||||||
X | ||||||||||||||||||||||||||||||||
X | ||||||||||||||||||||||||||||||||
Additional exhibits furnished with this report: | ||||||||||||||||||||||||||||||||
X | ||||||||||||||||||||||||||||||||
X | ||||||||||||||||||||||||||||||||
101.INS† | XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | X | ||||||||||||||||||||||||||||||
101.SCH† | Inline XBRL Taxonomy Extension Schema Document | X | ||||||||||||||||||||||||||||||
101.CAL† | Inline XBRL Taxonomy Extension Calculation Linkbase Document | X | ||||||||||||||||||||||||||||||
101.DEF† | Inline XBRL Taxonomy Extension Definition Linkbase Document | X | ||||||||||||||||||||||||||||||
101.LAB† | Inline XBRL Taxonomy Extension Label Linkbase Document | X | ||||||||||||||||||||||||||||||
101.PRE† | Inline XBRL Taxonomy Extension Presentation Linkbase Document | X | ||||||||||||||||||||||||||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) | X |
ELECTRONIC ARTS INC. | ||||||||
(Registrant) | ||||||||
/s/ Stuart Canfield | ||||||||
DATED: | Stuart Canfield | |||||||
February 6, 2024 | EVP and Chief Financial Officer (Duly Authorized Officer) |
Dated: February 6, 2024 | By: | /s/ Andrew Wilson | |||||||||
Andrew Wilson | |||||||||||
Chief Executive Officer |
Dated: February 6, 2024 | By: | /s/ Stuart Canfield | |||||||||
Stuart Canfield | |||||||||||
Executive Vice President and Chief Financial Officer |
/s/ Andrew Wilson | ||
Andrew Wilson | ||
Chief Executive Officer | ||
Electronic Arts Inc. | ||
February 6, 2024 |
/s/ Stuart Canfield | ||
Stuart Canfield | ||
Executive Vice President and Chief Financial Officer | ||
Electronic Arts Inc. | ||
February 6, 2024 | ||
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, shares outstanding (in shares) | 268 | 273 |
Common stock, shares issued (in shares) | 268 | 273 |
Condensed Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Income Statement [Abstract] | ||||
Net revenue | $ 1,945 | $ 1,881 | $ 5,783 | $ 5,552 |
Cost of revenue | 529 | 568 | 1,353 | 1,344 |
Gross profit | 1,416 | 1,313 | 4,430 | 4,208 |
Operating expenses: | ||||
Research and development | 584 | 556 | 1,782 | 1,693 |
Marketing and sales | 276 | 256 | 785 | 723 |
General and administrative | 170 | 162 | 506 | 503 |
Amortization and impairment of intangibles | 21 | 50 | 70 | 132 |
Restructuring (See Note 7) | 0 | 0 | 3 | 0 |
Total operating expenses | 1,051 | 1,024 | 3,146 | 3,051 |
Operating income | 365 | 289 | 1,284 | 1,157 |
Interest and other income (expense), net | 17 | (7) | 45 | (12) |
Income before provision for income taxes | 382 | 282 | 1,329 | 1,145 |
Provision for income taxes | 92 | 78 | 238 | 331 |
Net income | $ 290 | $ 204 | $ 1,091 | $ 814 |
Earnings per share: | ||||
Basic (in dollars per share) | $ 1.08 | $ 0.74 | $ 4.03 | $ 2.93 |
Diluted (in dollars per share) | $ 1.07 | $ 0.73 | $ 4.01 | $ 2.92 |
Number of shares used in computation: | ||||
Basic (in shares) | 269 | 276 | 271 | 278 |
Diluted (in shares) | 271 | 278 | 272 | 279 |
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 290 | $ 204 | $ 1,091 | $ 814 |
Other comprehensive income (loss), net of tax: | ||||
Net gains (losses) on available-for-sale securities | 1 | 2 | 1 | 1 |
Net gains (losses) on derivative instruments | (69) | (199) | (28) | 0 |
Foreign currency translation adjustments | 18 | 23 | 10 | (53) |
Total other comprehensive income (loss), net of tax | (50) | (174) | (17) | (52) |
Total comprehensive income | $ 240 | $ 30 | $ 1,074 | $ 762 |
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions |
9 Months Ended | |
---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
|
OPERATING ACTIVITIES | ||
Net income | $ 1,091 | $ 814 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization, accretion and impairment | 255 | 363 |
Stock-based compensation | 436 | 406 |
Change in assets and liabilities: | ||
Receivables, net | (184) | (186) |
Other assets | 186 | (53) |
Accounts payable | (36) | (21) |
Accrued and other liabilities | (119) | 28 |
Deferred income taxes, net | 88 | (203) |
Deferred net revenue (online-enabled games) | 18 | (215) |
Net cash provided by operating activities | 1,735 | 933 |
INVESTING ACTIVITIES | ||
Capital expenditures | (148) | (160) |
Proceeds from maturities and sales of short-term investments | 450 | 243 |
Purchase of short-term investments | (460) | (263) |
Net cash used in investing activities | (158) | (180) |
FINANCING ACTIVITIES | ||
Proceeds from issuance of common stock | 43 | 47 |
Cash dividends paid | (154) | (158) |
Cash paid to taxing authorities for shares withheld from employees | (178) | (161) |
Common stock repurchases | (975) | (970) |
Net cash used in financing activities | (1,264) | (1,242) |
Effect of foreign exchange on cash and cash equivalents | 5 | (41) |
Increase (decrease) in cash and cash equivalents | 318 | (530) |
Beginning cash and cash equivalents | 2,424 | 2,732 |
Ending cash and cash equivalents | 2,742 | 2,202 |
Supplemental cash flow information: | ||
Cash paid during the period for income taxes, net | 204 | 457 |
Cash paid during the period for interest | $ 28 | $ 28 |
Condensed Consolidated Statements of Stockholders' Equity Statement - USD ($) shares in Thousands, $ in Millions |
Total |
Common Stock |
Additional Paid-in Capital |
Retained Earnings |
Accumulated Other Comprehensive Income (loss) |
|||
---|---|---|---|---|---|---|---|---|
Beginning balance (in shares) at Mar. 31, 2022 | 280,051 | |||||||
Beginning balance at Mar. 31, 2022 | $ 7,625 | $ 3 | $ 0 | $ 7,607 | $ 15 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Total comprehensive income | 367 | 311 | 56 | |||||
Stock-based compensation | 125 | 125 | ||||||
Issuance of common stock (in shares) | 1,413 | |||||||
Issuance of common stock | (103) | (103) | ||||||
Common stock repurchases (in shares) | (2,512) | |||||||
Common stock repurchases | (320) | (22) | (298) | |||||
Cash dividends declared ($0.19 per common share) | (53) | (53) | ||||||
Ending balance (in shares) at Jun. 30, 2022 | 278,952 | |||||||
Ending balance at Jun. 30, 2022 | 7,641 | $ 3 | 0 | 7,567 | 71 | |||
Beginning balance (in shares) at Mar. 31, 2022 | 280,051 | |||||||
Beginning balance at Mar. 31, 2022 | 7,625 | $ 3 | 0 | 7,607 | 15 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Total comprehensive income | $ 762 | |||||||
Common stock repurchases (in shares) | (7,700) | |||||||
Common stock repurchases | $ (970) | |||||||
Ending balance (in shares) at Dec. 31, 2022 | 275,136 | |||||||
Ending balance at Dec. 31, 2022 | 7,551 | $ 3 | 0 | 7,585 | (37) | |||
Beginning balance (in shares) at Jun. 30, 2022 | 278,952 | |||||||
Beginning balance at Jun. 30, 2022 | 7,641 | $ 3 | 0 | 7,567 | 71 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Total comprehensive income | 365 | 299 | 66 | |||||
Stock-based compensation | 140 | 140 | ||||||
Issuance of common stock (in shares) | 641 | |||||||
Issuance of common stock | 30 | 30 | ||||||
Common stock repurchases (in shares) | (2,569) | |||||||
Common stock repurchases | (325) | (170) | (155) | |||||
Cash dividends declared ($0.19 per common share) | (53) | (53) | ||||||
Ending balance (in shares) at Sep. 30, 2022 | 277,024 | |||||||
Ending balance at Sep. 30, 2022 | 7,798 | $ 3 | 0 | 7,658 | 137 | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Total comprehensive income | 30 | 204 | (174) | |||||
Stock-based compensation | 141 | 141 | ||||||
Issuance of common stock (in shares) | 705 | |||||||
Issuance of common stock | $ (41) | (41) | ||||||
Common stock repurchases (in shares) | (2,600) | (2,593) | ||||||
Common stock repurchases | $ (325) | (100) | (225) | |||||
Cash dividends declared ($0.19 per common share) | (52) | (52) | ||||||
Ending balance (in shares) at Dec. 31, 2022 | 275,136 | |||||||
Ending balance at Dec. 31, 2022 | $ 7,551 | $ 3 | 0 | 7,585 | (37) | |||
Beginning balance (in shares) at Mar. 31, 2023 | 273,000 | 272,914 | ||||||
Beginning balance at Mar. 31, 2023 | $ 7,293 | [1] | $ 3 | 0 | 7,357 | (67) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Total comprehensive income | 394 | 402 | (8) | |||||
Stock-based compensation | 130 | 130 | ||||||
Issuance of common stock (in shares) | 1,408 | |||||||
Issuance of common stock | (105) | (105) | ||||||
Common stock repurchases (in shares) | (2,574) | |||||||
Common stock repurchases and excise tax | (326) | (25) | (301) | |||||
Cash dividends declared ($0.19 per common share) | (52) | (52) | ||||||
Ending balance (in shares) at Jun. 30, 2023 | 271,748 | |||||||
Ending balance at Jun. 30, 2023 | $ 7,334 | $ 3 | 0 | 7,406 | (75) | |||
Beginning balance (in shares) at Mar. 31, 2023 | 273,000 | 272,914 | ||||||
Beginning balance at Mar. 31, 2023 | $ 7,293 | [1] | $ 3 | 0 | 7,357 | (67) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Total comprehensive income | $ 1,074 | |||||||
Common stock repurchases (in shares) | (7,600) | |||||||
Common stock repurchases | $ (975) | |||||||
Ending balance (in shares) at Dec. 31, 2023 | 268,000 | 268,192 | ||||||
Ending balance at Dec. 31, 2023 | $ 7,533 | $ 3 | 0 | 7,614 | (84) | |||
Beginning balance (in shares) at Jun. 30, 2023 | 271,748 | |||||||
Beginning balance at Jun. 30, 2023 | 7,334 | $ 3 | 0 | 7,406 | (75) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Total comprehensive income | 440 | 399 | 41 | |||||
Stock-based compensation | 155 | 155 | ||||||
Issuance of common stock (in shares) | 673 | |||||||
Issuance of common stock | 25 | 25 | ||||||
Common stock repurchases (in shares) | (2,581) | |||||||
Common stock repurchases and excise tax | (328) | (180) | (148) | |||||
Cash dividends declared ($0.19 per common share) | (51) | (51) | ||||||
Ending balance (in shares) at Sep. 30, 2023 | 269,840 | |||||||
Ending balance at Sep. 30, 2023 | 7,575 | $ 3 | 0 | 7,606 | (34) | |||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Total comprehensive income | 240 | 290 | (50) | |||||
Stock-based compensation | 151 | 151 | ||||||
Issuance of common stock (in shares) | 826 | |||||||
Issuance of common stock | $ (55) | (55) | ||||||
Common stock repurchases (in shares) | (2,500) | (2,474) | ||||||
Common stock repurchases and excise tax | $ (327) | (96) | (231) | |||||
Common stock repurchases | (325) | |||||||
Cash dividends declared ($0.19 per common share) | $ (51) | (51) | ||||||
Ending balance (in shares) at Dec. 31, 2023 | 268,000 | 268,192 | ||||||
Ending balance at Dec. 31, 2023 | $ 7,533 | $ 3 | $ 0 | $ 7,614 | $ (84) | |||
|
Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares |
3 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2023 |
Sep. 30, 2023 |
Jun. 30, 2023 |
Dec. 31, 2022 |
Sep. 30, 2022 |
Jun. 30, 2022 |
|
Statement of Stockholders' Equity [Abstract] | ||||||
Cash dividends declared (in dollars per share) | $ 0.19 | $ 0.19 | $ 0.19 | $ 0.19 | $ 0.19 | $ 0.19 |
Description Of Business And Basis Of Presentation |
9 Months Ended |
---|---|
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business And Basis Of Presentation | DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Electronic Arts is a global leader in digital interactive entertainment. We develop, market, publish and deliver games, content and services that can be experienced on game consoles, PCs, mobile phones and tablets. At our core is a portfolio of intellectual property from which we create innovative games and experiences that deliver high-quality entertainment and drive engagement across our network of hundreds of millions of unique active accounts. Our portfolio includes brands that we either wholly own (such as Apex Legends, Battlefield, and The Sims) or license from others (such as EA SPORTS Madden NFL, Star Wars, and the 300+ licenses within our EA SPORTS FC ecosystem). Through our live services offerings, we offer high-quality experiences designed to provide value to players, and extend and enhance gameplay. These live services include extra content, subscription offerings and other revenue generated in addition to the sale of our base games. We are focusing on building games and experiences that grow the global online communities around our key franchises; reaching more players through connecting interactive storytelling to key intellectual property; and building re-occurring revenue from our annualized sports franchises, our console, PC and mobile catalog titles, and our live services. Our fiscal year is reported on a 52- or 53-week period that ends on the Saturday nearest March 31. Our results of operations for the fiscal year ending March 31, 2024 contains 52 weeks and ends on March 30, 2024. Our results of operations for the fiscal year ended March 31, 2023 contained 52 weeks and ended on April 1, 2023. Our results of operations for the three and nine months ended December 31, 2023 contained 13 weeks and 39 weeks, respectively, and ended on December 30, 2023. Our results of operations for the three and nine months ended December 31, 2022 contained 13 weeks and 39 weeks, respectively, and ended on December 31, 2022. For simplicity of disclosure, all fiscal periods are referred to as ending on a calendar month end. The Condensed Consolidated Financial Statements are unaudited and reflect all adjustments (consisting only of normal recurring accruals unless otherwise indicated) that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods presented. The preparation of these Condensed Consolidated Financial Statements requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ materially from those estimates. The results of operations for the current interim periods are not necessarily indicative of results to be expected for the current year or any other period. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, as filed with the United States Securities and Exchange Commission (“SEC”) on May 24, 2023. Recently Issued Accounting Standards In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update expands segment disclosures by requiring disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This update is effective for our annual report for fiscal year 2025, for interim period reporting beginning in fiscal year 2026, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the timing of adoption and impact of this ASU on our Consolidated Financial Statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures. The amendments further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This ASU is effective for our annual report for fiscal year 2026, with early adoption permitted, and should be applied either prospectively or retrospectively. We are currently evaluating the timing of adoption and impact of this ASU on our Consolidated Financial Statements and related disclosures.
|
Fair Value Measurements |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | FAIR VALUE MEASUREMENTS There are various valuation techniques used to estimate fair value, the primary one being the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, we consider the principal or most advantageous market in which we would transact and consider assumptions that market participants would use when pricing the asset or liability. We measure certain financial and nonfinancial assets and liabilities at fair value on a recurring and nonrecurring basis. Fair Value Hierarchy The three levels of inputs that may be used to measure fair value are as follows: •Level 1. Quoted prices in active markets for identical assets or liabilities. •Level 2. Observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated with observable market data for substantially the full term of the assets or liabilities. •Level 3. Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. Assets and Liabilities Measured at Fair Value on a Recurring Basis As of December 31, 2023 and March 31, 2023, our assets and liabilities that were measured and recorded at fair value on a recurring basis were as follows (in millions):
(a)The Deferred Compensation Plan consists of various mutual funds. See Note 15 in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, for additional information regarding our Deferred Compensation Plan.
|
Financial Instruments |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments | FINANCIAL INSTRUMENTS Cash and Cash Equivalents As of December 31, 2023 and March 31, 2023, our cash and cash equivalents were $2,742 million and $2,424 million, respectively. Cash equivalents were valued using quoted market prices or other readily available market information. Short-Term Investments Short-term investments consisted of the following as of December 31, 2023 and March 31, 2023 (in millions):
The following table summarizes the amortized cost and fair value of our short-term investments, classified by stated maturity as of December 31, 2023 and March 31, 2023 (in millions):
|
Derivative Financial Instruments |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | DERIVATIVE FINANCIAL INSTRUMENTS Assets or liabilities associated with our derivative instruments and hedging activities are recorded at fair value in other current assets/other assets, or accrued and other current liabilities/other liabilities, respectively, on our Condensed Consolidated Balance Sheets. As discussed below, the accounting for gains and losses resulting from changes in fair value depends on the use of the derivative instrument and whether it is designated and qualifies for hedge accounting. We transact business in various foreign currencies and have significant international sales and expenses denominated in foreign currencies, subjecting us to foreign currency risk. We purchase foreign currency forward contracts, generally with maturities of 18 months or less, to reduce the volatility of cash flows primarily related to forecasted revenue and expenses denominated in certain foreign currencies. Our cash flow risks are primarily related to fluctuations in the Euro, British pound sterling, Canadian dollar, Swedish krona, Australian dollar, Japanese yen, Chinese yuan, South Korean won, and Polish zloty. In addition, we utilize foreign currency forward contracts to mitigate foreign currency exchange risk associated with foreign-currency-denominated monetary assets and liabilities, primarily intercompany receivables and payables. The foreign currency forward contracts not designated as hedging instruments generally have a contractual term of approximately three months or less and are transacted near month-end. We do not use foreign currency forward contracts for speculative trading purposes. Cash Flow Hedging Activities Certain of our forward contracts are designated and qualify as cash flow hedges. To qualify for hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedges and must be highly effective in offsetting changes to future cash flows on hedged transactions. The derivative assets or liabilities associated with our hedging activities are recorded at fair value in other current assets/other assets, or accrued and other current liabilities/other liabilities, respectively, on our Condensed Consolidated Balance Sheets. The gains or losses resulting from changes in the fair value of these hedges is initially reported, net of tax, as a component of accumulated other comprehensive income (loss) in stockholders’ equity. The gains or losses resulting from changes in the fair value of these hedges are subsequently reclassified into net revenue or research and development expenses, as appropriate, in the period when the forecasted transaction is recognized in our Condensed Consolidated Statements of Operations. In the event that the underlying forecasted transactions do not occur, or it becomes remote that they will occur within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified from accumulated other comprehensive income (loss) to net revenue or research and development expenses, in our Condensed Consolidated Statements of Operations. Total gross notional amounts and fair values for currency derivatives with cash flow hedge accounting designation are as follows (in millions):
The effects of cash flow hedge accounting in our Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2023 and 2022 are as follows (in millions):
Balance Sheet Hedging Activities Our foreign currency forward contracts that are not designated as hedging instruments are accounted for as derivatives whereby the fair value of the contracts are reported as other current assets or accrued and other current liabilities on our Condensed Consolidated Balance Sheets, and gains and losses resulting from changes in the fair value are reported in interest and other income (expense), net, in our Condensed Consolidated Statements of Operations. The gains and losses on these foreign currency forward contracts generally offset the gains and losses in the underlying foreign-currency-denominated monetary assets and liabilities, which are also reported in interest and other income (expense), net, in our Condensed Consolidated Statements of Operations. Total gross notional amounts and fair values for currency derivatives that are not designated as hedging instruments are accounted for as follows (in millions):
The effect of foreign currency forward contracts not designated as hedging instruments in our Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2023 and 2022 was as follows (in millions):
|
Accumulated Other Comprehensive Income (Loss) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended December 31, 2023 and 2022 are as follows (in millions):
The changes in accumulated other comprehensive income (loss) by component, net of tax, for the nine months ended December 31, 2023 and 2022 are as follows (in millions):
The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and nine months ended December 31, 2023 were as follows (in millions):
The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and nine months ended December 31, 2022 were as follows (in millions):
|
Goodwill And Acquisition-Related Intangibles, Net |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Acquisition-Related Intangibles, Net | GOODWILL AND ACQUISITION-RELATED INTANGIBLES, NET The changes in the carrying amount of goodwill for the nine months ended December 31, 2023 are as follows (in millions):
Acquisition-related intangibles consisted of the following (in millions):
Amortization of intangibles, including impairments for the three and nine months ended December 31, 2023 and 2022 are classified in the Condensed Consolidated Statements of Operations as follows (in millions):
During the three and nine months ended December 31, 2023, there were no impairment charges recorded for acquisition-related intangible assets. During the three months ended December 31, 2022, we recorded impairment charges of $22 million for acquisition-related intangible assets within operating expenses. During the nine months ended December 31, 2022, we recorded impairment charges of $40 million for acquisition-related intangible assets, of which $12 million was recorded within cost of revenue and $28 million was recorded within operating expenses. Acquisition-related intangible assets are generally amortized using the straight-line method over the lesser of their estimated useful lives or the agreement terms, currently ranging from 2 to 7 years. As of December 31, 2023 and March 31, 2023, the weighted-average remaining useful life for acquisition-related intangible assets was approximately 4.3 years and 4.8 years, respectively. As of December 31, 2023, future amortization of finite-lived acquisition-related intangibles that will be recorded in the Condensed Consolidated Statements of Operations is estimated as follows (in millions):
Subsequent to December 31, 2023, we impaired certain acquisition-related intangible assets totaling approximately $70 million that will be recorded in the fourth quarter of fiscal year 2024.
|
Royalties And Licenses |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Royalties And Licenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Royalties And Licenses | ROYALTIES AND LICENSES Our royalty expenses consist of payments to (1) content licensors, (2) independent software developers, and (3) co-publishing and distribution affiliates. Content license royalties consist of payments made to celebrities, professional sports organizations, movie studios and other organizations for our use of their trademarks, copyrights, personal publicity rights, content and/or other intellectual property. Royalty payments to independent software developers are payments for the development of intellectual property related to our games. Co-publishing and distribution royalties are payments made to third parties for the delivery of products. During the three and nine months ended December 31, 2023 and 2022, we did not recognize any material losses or impairment charges on royalty-based commitments. The current and long-term portions of prepaid royalties and minimum guaranteed royalty-related assets, included in other current assets and other assets, consisted of (in millions):
At any given time, depending on the timing of our payments to our co-publishing and/or distribution affiliates, content licensors, and/or independent software developers, we classify any recognized unpaid royalty amounts due to these parties as accrued liabilities. The current and long-term portions of accrued royalties, included in accrued and other current liabilities and other liabilities, consisted of (in millions):
As of December 31, 2023, we were committed to pay approximately $2,195 million to content licensors, independent software developers, and co-publishing and/or distribution affiliates, but performance remained with the counterparty (i.e., delivery of the product or content or other factors) and such commitments were therefore not recorded in our Condensed Consolidated Financial Statements. See Note 12 for further information on our developer and licensor commitments.
|
Balance Sheet Details |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Related Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Details | BALANCE SHEET DETAILS Property and Equipment, Net Property and equipment, net, as of December 31, 2023 and March 31, 2023 consisted of (in millions):
Depreciation expense associated with property and equipment was $48 million and $146 million for the three and nine months ended December 31, 2023, respectively. Depreciation expense associated with property and equipment was $46 million and $135 million for the three and nine months ended December 31, 2022, respectively. Accrued and Other Current Liabilities Accrued and other current liabilities as of December 31, 2023 and March 31, 2023 consisted of (in millions):
Deferred net revenue (other) includes the deferral of licensing arrangements, subscription revenue, and other revenue for which revenue recognition criteria has not been met. Deferred net revenue Deferred net revenue as of December 31, 2023 and March 31, 2023 consisted of (in millions):
During the nine months ended December 31, 2023 and 2022, we recognized $1,942 million and $2,124 million of revenue, respectively, that were included in the deferred net revenue balance at the beginning of the period. Remaining Performance Obligations As of December 31, 2023, revenue allocated to remaining performance obligations consists of our deferred revenue balance of $2,080 million. These balances exclude any estimates for future variable consideration as we have elected the optional exemption to exclude sales-based royalty revenue.
|
Income Taxes |
9 Months Ended |
---|---|
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The provision for income taxes for the three and nine months ended December 31, 2023 is based on our projected annual effective tax rate for fiscal year 2024, adjusted for specific items that are required to be recognized in the period in which they are incurred. Our effective tax rate for the three and nine months ended December 31, 2023 was 24 percent and 18 percent, respectively, as compared to 28 percent and 29 percent for the same period in fiscal year 2023. Our effective tax rate for the nine months ended December 31, 2023 included a $92 million one-time tax benefit to remeasure our Swiss deferred tax assets to the higher statutory tax rate that was enacted during the three months ended September 30, 2023 and a cumulative one-time benefit related to R&D capitalization guidance issued by the U.S. Treasury during the three months ended September 30, 2023. Excluding the one-time items in the current year period, the effective tax rate for the three and nine months ended December 31, 2023 would have been 24 percent and 26 percent, respectively, and are lower than the effective tax rate in the prior year period primarily due to a lower period cost for U.S. tax on our non-U.S. earnings. Our projected period cost for the current year period was favorably impacted by the R&D capitalization guidance. We are subject to income tax examinations in various jurisdictions with respect to fiscal years after 2013. The timing and potential resolution of income tax examinations is highly uncertain. The gross unrecognized tax benefits as of December 31, 2023 were $761 million. While we continue to measure our uncertain tax positions, the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued. For example, in the period ended June 30, 2020, the decision of the Ninth Circuit Court of Appeals in Altera Corp. v Commissioner (“the Altera opinion”) resulted in a partial decrease of our unrecognized tax benefits. A complete resolution and settlement of the matters underlying the Altera opinion is reasonably possible within the next 12 months, which would result in an additional reduction of our gross unrecognized tax benefits. However, it is uncertain whether a complete resolution and settlement of such matters would also result in resolution of all related and unrelated U.S. positions for all applicable years. Therefore, it is not possible to provide a range of potential outcomes associated with a reversal of our gross unrecognized tax benefits. We expect changes in unrecognized tax benefits unrelated to the Altera opinion which may occur within the next twelve months to be insignificant.
|
Financing Arrangements |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financing Arrangements | FINANCING ARRANGEMENTS Senior Notes In February 2021, we issued $750 million aggregate principal amount of 1.85% Senior Notes due February 15, 2031 (the “2031 Notes”) and $750 million aggregate principal amount of 2.95% Senior Notes due February 15, 2051 (the “2051 Notes”). Our proceeds were $1,478 million, net of discount of $6 million and issuance costs of $16 million. Both the discount and issuance costs are being amortized to interest expense over the respective terms of the 2031 Notes and the 2051 Notes using the effective interest rate method. The effective interest rate is 1.98% for the 2031 Notes and 3.04% for the 2051 Notes. Interest is payable semiannually in arrears, on February 15 and August 15 of each year. In February 2016, we issued $400 million aggregate principal amount of 4.80% Senior Notes due March 1, 2026 (the “2026 Notes”). Our proceeds were $395 million, net of discount of $1 million and issuance costs of $4 million. Both the discount and issuance costs are being amortized to interest expense over the term of the 2026 Notes using the effective interest rate method. The effective interest rate was 4.97%. Interest is payable semiannually in arrears, on March 1 and September 1 of each year. The carrying and fair values of the Senior Notes are as follows (in millions):
As of December 31, 2023, the remaining life of the 2026 Notes, 2031 Notes and 2051 Notes is approximately 2.2 years, 7.1 years, and 27.1 years, respectively. The Senior Notes are senior unsecured obligations and rank equally with all our other existing and future unsubordinated obligations and any indebtedness that we may incur from time to time under our Credit Facility. The 2026 Notes, 2031 Notes and 2051 Notes are redeemable at our option at any time prior to December 1, 2025, November 15, 2030, and August 15, 2050, respectively, subject to a make-whole premium. After such dates, we may redeem each such series of Notes, respectively, at a redemption price equal to 100% of the aggregate principal amount plus accrued and unpaid interest. In addition, upon the occurrence of a change of control repurchase event, the holders of each such series of Notes may require us to repurchase all or a portion of these Notes, at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. Each such series of Notes also include covenants that limit our ability to incur liens on assets and to enter into sale and leaseback transactions, subject to certain allowances. Credit Facility On March 22, 2023, we entered into a $500 million unsecured revolving credit facility (the “Credit Facility") with a syndicate of banks. The Credit Facility terminates on March 22, 2028 unless the maturity is extended in accordance with its terms. The Credit Facility contains an option to arrange with existing lenders and/or new lenders to provide up to an aggregate of $500 million in additional commitments for revolving loans. Proceeds of loans made under the Credit Facility may be used for general corporate purposes. The loans denominated in U.S. dollars bear interest, at our option, at the base rate plus an applicable spread or at a forward-looking term rate based upon the secured overnight financing rate plus a credit spread adjustment of 0.10% per annum (the “Adjusted Term SOFR Rate”) plus an applicable spread, in each case with such spread based on our debt credit ratings. We are also obligated to pay other customary fees for a credit facility of this size and type. Interest is due and payable in arrears quarterly for loans bearing interest at the base rate and at the end of an interest period in the case of loans bearing interest at the Adjusted Term SOFR Rate. Principal, together with all accrued and unpaid interest, is due and payable on the maturity date, as such date may be extended in connection with the extension option. We may prepay the loans and terminate the commitments, in whole or in part, at any time without premium or penalty, subject to certain conditions. The Credit Facility contains customary affirmative and negative covenants, including covenants that limit or restrict our ability to, among other things, incur subsidiary indebtedness, grant liens, and dispose of all or substantially all assets, in each case subject to customary exceptions for a credit facility of this size and type. We are also required to maintain compliance with a debt to EBITDA ratio. As of December 31, 2023, we were in compliance with the debt to EBITDA ratio. The Credit Facility contains customary events of default, including among others, non-payment defaults, covenant defaults, cross-defaults to material indebtedness, bankruptcy and insolvency defaults, material judgment defaults and a change of control default, in each case, subject to customary exceptions for a credit facility of this size and type. The occurrence of an event of default could result in the acceleration of the obligations under the Credit Facility and an increase in the applicable interest rate. As of December 31, 2023, no amounts were outstanding under the Credit Facility. $2 million of debt issuance costs that were paid in connection with obtaining this credit facility are being amortized to interest expense over the 5-year term of the Credit Facility. Interest Expense The following table summarizes our interest expense recognized for the three and nine months ended December 31, 2023 and 2022 that is included in interest and other income (expense), net on our Condensed Consolidated Statements of Operations (in millions):
|
Commitments And Contingencies |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES Development, Celebrity, Professional Sports Organizations and Content Licenses: Payments and Commitments The products we produce in our studios are designed and created by our employee designers, artists, software programmers and by non-employee software developers (“independent artists” or “third-party developers”). We typically advance development funds to the independent artists and third-party developers during development of our games, usually in installment payments made upon the completion of specified development milestones. Contractually, these payments are generally considered advances against subsequent royalties on the sales of the products. These terms are set forth in written agreements entered into with the independent artists and third-party developers. In addition, we have certain celebrity, professional sports organizations and content license contracts that contain minimum guarantee payments and marketing commitments to promote the games we publish that may not be dependent on any deliverables. These developer and content license commitments represent the sum of (1) the cash payments due under non-royalty-bearing licenses and services agreements and (2) the minimum guaranteed payments and advances against royalties due under royalty-bearing licenses and services agreements, the majority of which are conditional upon performance by the counterparty. These minimum guarantee payments and any related marketing commitments are included in the table below. The following table summarizes our minimum contractual obligations as of December 31, 2023 (in millions):
(a)As of December 31, 2023, we have entered into an office lease that is expected to commence in the three months ending March 31, 2024, with aggregate future lease payments of approximately $101 million and a lease term of 12 years. The unrecognized amounts represented in the table above reflect our minimum cash obligations for the respective fiscal years, but do not necessarily represent the periods in which they will be recognized and expensed in our Condensed Consolidated Financial Statements. In addition, the amounts in the table above are presented based on the dates the amounts are contractually due as of December 31, 2023; however, certain payment obligations may be accelerated depending on the performance of our operating results. In addition to the amounts included in the table above, as of December 31, 2023, we had a net liability for unrecognized tax benefits and an accrual for the payment of related interest totaling $475 million, of which we are unable to make a reasonably reliable estimate of when cash settlement with a taxing authority will occur. Legal Proceedings We are subject to claims and litigation arising in the ordinary course of business. We do not believe that any liability from any reasonably foreseeable disposition of such claims and litigation, individually or in the aggregate, would have a material adverse effect on our Condensed Consolidated Financial Statements.
|
Stock-Based Compensation |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | STOCK-BASED COMPENSATION Valuation Assumptions We recognize compensation cost for stock-based awards to employees based on the awards’ estimated grant-date fair value using a straight-line approach over the service period for which such awards are expected to vest. We account for forfeitures as they occur. The estimation of the fair value of market-based restricted stock units, stock options and Employee Stock Purchase Plan (“ESPP”) purchase rights is affected by assumptions regarding subjective and complex variables. Generally, our assumptions are based on historical information and judgment is required to determine if historical trends may be indicators of future outcomes. We estimate the fair value of our stock-based awards as follows: •Restricted Stock Units and Performance-Based Restricted Stock Units. The fair value of restricted stock units and performance-based restricted stock units (other than market-based restricted stock units) is determined based on the quoted market price of our common stock on the date of grant. •Market-Based Restricted Stock Units. Market-based restricted stock units consist of grants of performance-based restricted stock units to certain members of executive management that vest contingent upon the achievement of pre-determined market and service conditions (referred to herein as “market-based restricted stock units”). The fair value of our market-based restricted stock units is estimated using a Monte-Carlo simulation model. Key assumptions for the Monte-Carlo simulation model are the risk-free interest rate, expected volatility, expected dividends and correlation coefficient. •Stock Options and ESPP. The fair value of stock options and stock purchase rights granted pursuant to our equity incentive plans and our 2000 Employee Stock Purchase Plan, as amended, respectively, is estimated using the Black-Scholes valuation model based on the multiple-award valuation method. Key assumptions of the Black-Scholes valuation model are the risk-free interest rate, expected volatility, expected term and expected dividends. The risk-free interest rate is based on U.S. Treasury yields in effect at the time of grant for the expected term of the option. Expected volatility is based on a combination of historical stock price volatility and implied volatility of publicly-traded options on our common stock. An expected term is estimated based on historical exercise behavior, post-vesting termination patterns, options outstanding and future expected exercise behavior. There were an insignificant number of stock options granted during the three and nine months ended December 31, 2023 and 2022. Stock Options The following table summarizes our stock option activity for the nine months ended December 31, 2023:
The aggregate intrinsic value represents the total pre-tax intrinsic value based on our closing stock price as of December 31, 2023, which would have been received by the option holders had all the option holders exercised their options as of that date. We issue new common stock from our authorized shares upon the exercise of stock options. Restricted Stock Units The following table summarizes our restricted stock units activity for the nine months ended December 31, 2023:
Performance-Based Restricted Stock Units Our performance-based restricted stock units vest upon the achievement of pre-determined performance-based milestones, including, but not limited to, management reporting milestones of net bookings and operating income metrics, as well as service conditions. If these performance-based milestones are not met but service conditions are met, the performance-based restricted stock units will not vest, in which case any compensation expense we have recognized to date will be reversed. Generally, the measurement periods of our performance-based restricted stock units are 3 to 4 years, with awards vesting after each annual measurement period or cliff-vesting after the completion of the total aggregate measurement period. Each quarter, we update our assessment of the probability that the performance milestones will be achieved. We amortize the fair values of performance-based restricted stock units over the requisite service period. The performance-based restricted stock units contain threshold, target and maximum milestones for each performance-based milestone. The number of shares of common stock to be issued at vesting will range from zero to 200 percent of the target number of performance-based restricted stock units attributable to each performance-based milestone based on the company’s performance as compared to these threshold, target and maximum performance-based milestones. Each performance-based milestone is weighted evenly and the number of shares that vest based on each performance-based milestone is independent from the other. The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the nine months ended December 31, 2023:
Market-Based Restricted Stock Units Our market-based restricted stock units vest contingent upon the achievement of pre-determined market and service conditions. If these market conditions are not met but service conditions are met, the market-based restricted stock units will not vest; however, any compensation expense we have recognized to date will not be reversed. The number of shares of common stock to be issued at vesting will range from zero to 200 percent of the target number of market-based restricted stock units based on our total stockholder return (“TSR”) relative to the performance of companies in the Nasdaq-100 Index for each measurement period, over either a two-year and four-year cumulative period or a three-year period. The following table summarizes our market-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the nine months ended December 31, 2023:
Stock-Based Compensation Expense The following table summarizes stock-based compensation expense resulting from stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and the ESPP purchase rights included in our Condensed Consolidated Statements of Operations (in millions):
During the three and nine months ended December 31, 2023, we recognized $16 million and $66 million, respectively, of deferred income tax benefit related to our stock-based compensation expense. During the three and nine months ended December 31, 2022, we recognized $11 million and $56 million, respectively, of deferred income tax benefit related to our stock-based compensation expense. As of December 31, 2023, our total unrecognized compensation cost related to stock options, restricted stock units, market-based restricted stock units, and performance-based restricted stock units was $817 million and is expected to be recognized over a weighted-average service period of 1.9 years. Of the $817 million of unrecognized compensation cost, $781 million relates to restricted stock units, $21 million relates to performance-based restricted stock units, $15 million relates to market-based restricted stock units. Stock Repurchase Program In November 2020, our Board of Directors authorized a program to repurchase up to $2.6 billion of our common stock. We completed repurchases under the November 2020 program in October 2022. In August 2022, our Board of Directors authorized a program to repurchase up to $2.6 billion of our common stock. This stock repurchase program expires on November 4, 2024. Under this program, we may purchase stock in the open market or through privately negotiated transactions in accordance with applicable securities laws, including pursuant to pre-arranged stock trading plans. The timing and actual amount of the stock repurchases will depend on several factors including price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. We are not obligated to repurchase a specific number of shares under this program and it may be modified, suspended or discontinued at any time. We are actively repurchasing shares under this program. The following table summarizes total shares repurchased during the three and nine months ended December 31, 2023 and 2022:
|
Earnings Per Share |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share Reconciliation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share | EARNINGS PER SHARE The following table summarizes the computations of basic earnings per share (“Basic EPS”) and diluted earnings per share (“Diluted EPS”). Basic EPS is computed as net income divided by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock-based compensation plans including stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and ESPP purchase rights using the treasury stock method.
Certain restricted stock units, market-based restricted stock units and performance-based restricted stock units were excluded from the treasury stock method computation of diluted shares as their inclusion would have had an antidilutive effect. For the three months ended December 31, 2023, an immaterial amount of such shares were excluded. For the nine months ended December 31, 2023, one million such shares were excluded. For both the three and nine months ended December 31, 2022, one million such shares were excluded.
|
Segment and Revenue Information |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment and Revenue Information | SEGMENT AND REVENUE INFORMATION Our reporting segment is based upon: our internal organizational structure; the manner in which our operations are managed; the criteria used by our Chief Executive Officer, our Chief Operating Decision Maker (“CODM”), to evaluate segment performance; the availability of separate financial information; and overall materiality considerations. Our CODM currently reviews total company operating results to assess overall performance and allocate resources. As of December 31, 2023, we have only one reportable segment, which represents our only operating segment. Information about our total net revenue by timing of recognition for the three and nine months ended December 31, 2023 and 2022 is presented below (in millions):
Generally, performance obligations that are recognized upfront upon transfer of control are classified as revenue recognized at a point in time, while performance obligations that are recognized over either the estimated offering period, contractual term or subscription period as the services are provided are classified as revenue recognized over time. Revenue recognized at a point in time includes revenue allocated to the software license performance obligation. This also includes revenue from the licensing of software to third-parties. Revenue recognized over time includes service revenue allocated to the future update rights and the online hosting performance obligations. This also includes service revenue allocated to the future update rights from the licensing of software to third-parties, online-hosted services such as our Ultimate Team game mode, and subscription services. Information about our total net revenue by composition for the three and nine months ended December 31, 2023 and 2022 is presented below (in millions):
Full game net revenue includes full game downloads and packaged goods. Full game downloads primarily includes revenue from digital sales of full games on console, PC, mobile phones and tablets. Packaged goods primarily includes revenue from software that is sold physically through traditional channels such as brick and mortar retailers and certain licensing revenue. Live services and other net revenue primarily includes revenue from sales of extra content for console, PC, and mobile games, certain licensing revenue, subscriptions, and advertising. Information about our total net revenue by platform for the three and nine months ended December 31, 2023 and 2022 is presented below (in millions):
Information about our operations in North America and internationally for the three and nine months ended December 31, 2023 and 2022 is presented below (in millions):
|
Restructuring Activities |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Activities | RESTRUCTURING ACTIVITIES In fiscal year 2023, we announced a restructuring plan (the “2023 Restructuring Plan” or the “Plan”) focused on prioritizing investments to our growth opportunities and optimizing our real estate portfolio. The Plan included actions driven by portfolio rationalization including headcount reductions, in addition to office space reductions. The actions associated with the Plan were substantially completed by September 30, 2023. Since the inception of the 2023 Restructuring Plan through December 31, 2023, we have incurred net charges of $158 million, and we do not expect to incur any additional restructuring charges under this plan. Restructuring activities as of December 31, 2023 were as follows (in millions):
|
Pay vs Performance Disclosure - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Pay vs Performance Disclosure | ||||
Net income | $ 290 | $ 204 | $ 1,091 | $ 814 |
Insider Trading Arrangements |
3 Months Ended |
---|---|
Dec. 31, 2023 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Description Of Business And Basis Of Presentation (Policies) |
9 Months Ended |
---|---|
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | The Condensed Consolidated Financial Statements are unaudited and reflect all adjustments (consisting only of normal recurring accruals unless otherwise indicated) that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods presented. |
Use of Estimates | The preparation of these Condensed Consolidated Financial Statements requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ materially from those estimates. The results of operations for the current interim periods are not necessarily indicative of results to be expected for the current year or any other period. |
Recently Issued Accounting Standards | Recently Issued Accounting Standards In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The amendments in this update expands segment disclosures by requiring disclosures about significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. This update is effective for our annual report for fiscal year 2025, for interim period reporting beginning in fiscal year 2026, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the timing of adoption and impact of this ASU on our Consolidated Financial Statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures. The amendments further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This ASU is effective for our annual report for fiscal year 2026, with early adoption permitted, and should be applied either prospectively or retrospectively. We are currently evaluating the timing of adoption and impact of this ASU on our Consolidated Financial Statements and related disclosures.
|
Fair Value Measurements (Tables) |
3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Dec. 31, 2023 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
(a)The Deferred Compensation Plan consists of various mutual funds. See Note 15 in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, for additional information regarding our Deferred Compensation Plan.
|
As of December 31, 2023 and March 31, 2023, our assets and liabilities that were measured and recorded at fair value on a recurring basis were as follows (in millions):
|
Financial Instruments (Tables) |
9 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Of Short-Term Investments | Short-term investments consisted of the following as of December 31, 2023 and March 31, 2023 (in millions):
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Of Short-Term Investments By Stated Maturity Date Schedule | The following table summarizes the amortized cost and fair value of our short-term investments, classified by stated maturity as of December 31, 2023 and March 31, 2023 (in millions):
|
Derivative Financial Instruments (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions | Total gross notional amounts and fair values for currency derivatives with cash flow hedge accounting designation are as follows (in millions):
Total gross notional amounts and fair values for currency derivatives that are not designated as hedging instruments are accounted for as follows (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Instruments, Gain (Loss) | The effects of cash flow hedge accounting in our Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2023 and 2022 are as follows (in millions):
The effect of foreign currency forward contracts not designated as hedging instruments in our Condensed Consolidated Statements of Operations for the three and nine months ended December 31, 2023 and 2022 was as follows (in millions):
|
Accumulated Other Comprehensive Income (Loss) (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Accumulated Other Comprehensive Income (Loss) | The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended December 31, 2023 and 2022 are as follows (in millions):
The changes in accumulated other comprehensive income (loss) by component, net of tax, for the nine months ended December 31, 2023 and 2022 are as follows (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassification out of Accumulated Other Comprehensive Income (Loss) | The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and nine months ended December 31, 2023 were as follows (in millions):
The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and nine months ended December 31, 2022 were as follows (in millions):
|
Goodwill And Acquisition-Related Intangibles, Net (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Changes In The Carrying Amount Of Goodwill | The changes in the carrying amount of goodwill for the nine months ended December 31, 2023 are as follows (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Acquisition-Related Intangibles | Acquisition-related intangibles consisted of the following (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Amoritization Of Intangibles | Amortization of intangibles, including impairments for the three and nine months ended December 31, 2023 and 2022 are classified in the Condensed Consolidated Statements of Operations as follows (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Future Amortization Of Acquisition-Related Intangibles | As of December 31, 2023, future amortization of finite-lived acquisition-related intangibles that will be recorded in the Condensed Consolidated Statements of Operations is estimated as follows (in millions):
|
Royalties And Licenses (Tables) |
3 Months Ended | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2023 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Royalties And Licenses [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Royalty-Related Assets | The current and long-term portions of prepaid royalties and minimum guaranteed royalty-related assets, included in other current assets and other assets, consisted of (in millions):
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Royalty-Related Liabilities | The current and long-term portions of accrued royalties, included in accrued and other current liabilities and other liabilities, consisted of (in millions):
|
Balance Sheet Details (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Related Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property And Equipment, Net Schedule | Property and equipment, net, as of December 31, 2023 and March 31, 2023 consisted of (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued And Other Current Liabilities Schedule | Accrued and other current liabilities as of December 31, 2023 and March 31, 2023 consisted of (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deferred Revenue, by Arrangement, Disclosure | Deferred net revenue as of December 31, 2023 and March 31, 2023 consisted of (in millions):
|
Financing Arrangements (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Carrying Values Of Liability and Equity Components of Senior Notes [Table Text Block] | The carrying and fair values of the Senior Notes are as follows (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Interest and Other Income | The following table summarizes our interest expense recognized for the three and nine months ended December 31, 2023 and 2022 that is included in interest and other income (expense), net on our Condensed Consolidated Statements of Operations (in millions):
|
Commitments And Contingencies (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum Contractual Obligations | The following table summarizes our minimum contractual obligations as of December 31, 2023 (in millions): (a)As of December 31, 2023, we have entered into an office lease that is expected to commence in the three months ending March 31, 2024, with aggregate future lease payments of approximately $101 million and a lease term of 12 years.
|
Stock-Based Compensation (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Repurchase Agreements | The following table summarizes total shares repurchased during the three and nine months ended December 31, 2023 and 2022:
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award | The following table summarizes our stock option activity for the nine months ended December 31, 2023:
The following table summarizes our restricted stock units activity for the nine months ended December 31, 2023:
The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the nine months ended December 31, 2023:
The following table summarizes our market-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the nine months ended December 31, 2023:
The following table summarizes stock-based compensation expense resulting from stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and the ESPP purchase rights included in our Condensed Consolidated Statements of Operations (in millions):
|
Earnings Per Share (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share Reconciliation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Computation Of Basic Earnings (Loss) And Diluted Earnings (Loss) Per Share | The following table summarizes the computations of basic earnings per share (“Basic EPS”) and diluted earnings per share (“Diluted EPS”). Basic EPS is computed as net income divided by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock-based compensation plans including stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and ESPP purchase rights using the treasury stock method.
|
Segment and Revenue Information (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disaggregation of Revenue | Information about our total net revenue by timing of recognition for the three and nine months ended December 31, 2023 and 2022 is presented below (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Revenue By Revenue Composition | Information about our total net revenue by composition for the three and nine months ended December 31, 2023 and 2022 is presented below (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Revenue by Platform | Information about our total net revenue by platform for the three and nine months ended December 31, 2023 and 2022 is presented below (in millions):
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Revenue By Geographic Area | Information about our operations in North America and internationally for the three and nine months ended December 31, 2023 and 2022 is presented below (in millions):
|
Restructuring Activities (Tables) |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Costs | Restructuring activities as of December 31, 2023 were as follows (in millions):
|
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
|||
---|---|---|---|---|---|
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | $ 362 | $ 343 | [1] | ||
Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 111 | 113 | |||
U.S. Treasury securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 95 | 80 | |||
U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 12 | 25 | |||
Commercial paper | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 82 | 63 | |||
Foreign government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 5 | 11 | |||
Asset-backed securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 41 | 37 | |||
Certificates of deposit | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 16 | 14 | |||
(Level 1) | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Total assets at fair value | 1,002 | 1,115 | |||
Total liabilities at fair value | 30 | 24 | |||
(Level 2) | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Total assets at fair value | 304 | 298 | |||
Total liabilities at fair value | 65 | 65 | |||
(Level 3) | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Total assets at fair value | 0 | 0 | |||
Total liabilities at fair value | 0 | 0 | |||
Short-term investments | (Level 1) | Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments | (Level 1) | U.S. Treasury securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 95 | 80 | |||
Short-term investments | (Level 1) | U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | ||||
Short-term investments | (Level 1) | Foreign government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments | (Level 1) | Asset-backed securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Asset-backed securities | 0 | 0 | |||
Short-term investments | (Level 1) | Certificates of deposit | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments | (Level 2) | Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 111 | 113 | |||
Short-term investments | (Level 2) | U.S. Treasury securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments | (Level 2) | U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 12 | ||||
Short-term investments | (Level 2) | Foreign government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 5 | 11 | |||
Short-term investments | (Level 2) | Asset-backed securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Asset-backed securities | 41 | 37 | |||
Short-term investments | (Level 2) | Certificates of deposit | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 16 | 14 | |||
Short-term investments | (Level 3) | Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments | (Level 3) | U.S. Treasury securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments | (Level 3) | U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | ||||
Short-term investments | (Level 3) | Foreign government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments | (Level 3) | Asset-backed securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Asset-backed securities | 0 | 0 | |||
Short-term investments | (Level 3) | Certificates of deposit | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments and cash equivalents | (Level 1) | U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | ||||
Short-term investments and cash equivalents | (Level 1) | Commercial paper | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Short-term investments and cash equivalents | (Level 2) | U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 28 | ||||
Short-term investments and cash equivalents | (Level 2) | Commercial paper | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 87 | 66 | |||
Short-term investments and cash equivalents | (Level 3) | U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | ||||
Short-term investments and cash equivalents | (Level 3) | Commercial paper | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 0 | 0 | |||
Cash equivalents | (Level 1) | Bank and time deposits | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, Cash equivalents | 59 | 56 | |||
Cash equivalents | (Level 1) | Money market funds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, Cash equivalents | 818 | 956 | |||
Cash equivalents | (Level 2) | Bank and time deposits | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, Cash equivalents | 0 | 0 | |||
Cash equivalents | (Level 2) | Money market funds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, Cash equivalents | 0 | 0 | |||
Cash equivalents | (Level 3) | Bank and time deposits | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, Cash equivalents | 0 | 0 | |||
Cash equivalents | (Level 3) | Money market funds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, Cash equivalents | 0 | 0 | |||
Other current assets and other assets | (Level 1) | Foreign currency derivatives | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Foreign currency derivatives | 0 | 0 | |||
Other current assets and other assets | (Level 2) | Foreign currency derivatives | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Foreign currency derivatives | 32 | 29 | |||
Other current assets and other assets | (Level 3) | Foreign currency derivatives | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Foreign currency derivatives | 0 | 0 | |||
Other assets | (Level 1) | Deferred compensation plan assets | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, deferred compensation plan | 30 | 23 | |||
Other assets | (Level 2) | Deferred compensation plan assets | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, deferred compensation plan | 0 | 0 | |||
Other assets | (Level 3) | Deferred compensation plan assets | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, deferred compensation plan | 0 | 0 | |||
Accrued and other current liabilities and other liabilities | (Level 1) | Foreign currency derivatives | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, foreign currency derivatives, liabilities | 0 | 0 | |||
Accrued and other current liabilities and other liabilities | (Level 2) | Foreign currency derivatives | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, foreign currency derivatives, liabilities | 65 | 65 | |||
Accrued and other current liabilities and other liabilities | (Level 3) | Foreign currency derivatives | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, foreign currency derivatives, liabilities | 0 | 0 | |||
Other liabilities | (Level 1) | Deferred Compensation Plan Liabilities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, deferred compensation plan | 30 | 24 | |||
Other liabilities | (Level 2) | Deferred Compensation Plan Liabilities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, deferred compensation plan | 0 | 0 | |||
Other liabilities | (Level 3) | Deferred Compensation Plan Liabilities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, deferred compensation plan | 0 | 0 | |||
Fair Value | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Total assets at fair value | 1,306 | 1,413 | |||
Total liabilities at fair value | 95 | 89 | |||
Fair Value | Short-term investments | Corporate bonds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 111 | 113 | |||
Fair Value | Short-term investments | U.S. Treasury securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 95 | 80 | |||
Fair Value | Short-term investments | U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 12 | ||||
Fair Value | Short-term investments | Foreign government securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 5 | 11 | |||
Fair Value | Short-term investments | Asset-backed securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Asset-backed securities | 41 | 37 | |||
Fair Value | Short-term investments | Certificates of deposit | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 16 | 14 | |||
Fair Value | Short-term investments and cash equivalents | U.S. agency securities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 28 | ||||
Fair Value | Short-term investments and cash equivalents | Commercial paper | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Short-term investments | 87 | 66 | |||
Fair Value | Cash equivalents | Bank and time deposits | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, Cash equivalents | 59 | 56 | |||
Fair Value | Cash equivalents | Money market funds | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, Cash equivalents | 818 | 956 | |||
Fair Value | Other current assets and other assets | Foreign currency derivatives | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Foreign currency derivatives | 32 | 29 | |||
Fair Value | Other assets | Deferred compensation plan assets | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, deferred compensation plan | 30 | 23 | |||
Fair Value | Accrued and other current liabilities and other liabilities | Foreign currency derivatives | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, foreign currency derivatives, liabilities | 65 | 65 | |||
Fair Value | Other liabilities | Deferred Compensation Plan Liabilities | |||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||
Fair value, deferred compensation plan | $ 30 | $ 24 | |||
|
Financial Instruments - Narrative (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
|||
---|---|---|---|---|---|
Financial Instruments [Abstract] | |||||
Cash and cash equivalents | $ 2,742 | $ 2,424 | [1] | ||
|
Financial Instruments - Fair Value Of Short-Term Investments (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
|||
---|---|---|---|---|---|
Financial Instruments | |||||
Cost or Amortized Cost | $ 362 | $ 344 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | (1) | |||
Fair Value | 362 | 343 | [1] | ||
Corporate bonds | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 111 | 114 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | (1) | |||
Fair Value | 111 | 113 | |||
U.S. Treasury securities | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 95 | 80 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | 95 | 80 | |||
U.S. agency securities | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 12 | 25 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | 12 | 25 | |||
Commercial paper | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 82 | 63 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | 82 | 63 | |||
Foreign government securities | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 5 | 11 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | 5 | 11 | |||
Asset-backed securities | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 41 | 37 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | 41 | 37 | |||
Certificates of deposit | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 16 | 14 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | $ 16 | $ 14 | |||
|
Financial Instruments - Fair Value Of Short-Term Investments By Stated Maturity Date Schedule (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
|||
---|---|---|---|---|---|
Financial Instruments [Abstract] | |||||
Due in 1 year or less, Amortized Cost | $ 267 | $ 267 | |||
Due in 1 year or less, Fair Value | 267 | 266 | |||
Due 1 year through 5 years, Amortized Cost | 89 | 72 | |||
Due 1 year through 5 years, Fair Value | 89 | 72 | |||
Due after 5 years, Amortized Cost | 6 | 5 | |||
Due after 5 years, Fair Value | 6 | 5 | |||
Amortized Cost | 362 | 344 | |||
Fair Value | $ 362 | $ 343 | [1] | ||
|
Derivative Financial Instruments - Narrative (Details) |
9 Months Ended |
---|---|
Dec. 31, 2023 | |
Designated as Hedging Instrument | |
Derivative | |
Maximum remaining maturity of foreign currency derivatives | 18 months |
Not Designated as Hedging Instrument | |
Derivative | |
Maximum remaining maturity of foreign currency derivatives | 3 months |
Derivative Financial Instruments Gross Notional Amounts and Fair Values for Currency Derivatives (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
---|---|---|
Forward contracts to purchase | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value of foreign currency contracts outstanding, Assets | $ 8 | $ 2 |
Fair value of foreign currency contracts outstanding, Liabilities | 0 | 9 |
Forward contracts to sell | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value of foreign currency contracts outstanding, Assets | 9 | 23 |
Fair value of foreign currency contracts outstanding, Liabilities | 43 | 46 |
Designated as Hedging Instrument | Forward contracts to purchase | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | 301 | 371 |
Designated as Hedging Instrument | Forward contracts to sell | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | 1,634 | 2,255 |
United States Dollar | Not Designated as Hedging Instrument | Forward contracts to purchase | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | 1,018 | 504 |
United States Dollar | Not Designated as Hedging Instrument | Forward contracts to sell | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | 976 | 587 |
Balance Sheet Hedging | Not Designated as Hedging Instrument | Forward contracts to purchase | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Current | 15 | 4 |
Derivative Liability, Current | 0 | 0 |
Balance Sheet Hedging | Not Designated as Hedging Instrument | Forward contracts to sell | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Current | 0 | 0 |
Derivative Liability, Current | $ 22 | $ 10 |
Derivative Financial Instruments - Location of Income (Expense) Recognized in Income on Derivative, Non-Designated Hedging Instruments (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Derivative | ||||
Net revenue | $ 1,945 | $ 1,881 | $ 5,783 | $ 5,552 |
Research and development | 584 | 556 | 1,782 | 1,693 |
Interest and other income (expense), net | 17 | (7) | 45 | (12) |
Net revenue | ||||
Derivative | ||||
Gains (losses) on foreign currency forward contracts designated as cash flow hedges | 13 | 67 | 54 | 147 |
Research and development | ||||
Derivative | ||||
Gains (losses) on foreign currency forward contracts designated as cash flow hedges | (2) | (6) | (9) | (14) |
Interest and other income (expense), net | ||||
Derivative | ||||
Gains (losses) on foreign currency forward contracts not designated as hedging instruments | $ (11) | $ (53) | $ 5 | $ (26) |
Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in AOCI (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | |||||
---|---|---|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Beginning balance | $ (34) | $ 137 | $ (67) | [1] | $ 15 | ||
Other comprehensive income (loss) before reclassifications | (39) | (113) | 28 | 81 | |||
Amounts reclassified from accumulated other comprehensive income (loss) | (11) | (61) | (45) | (133) | |||
Total other comprehensive income (loss), net of tax | (50) | (174) | (17) | (52) | |||
Ending balance | (84) | (37) | (84) | (37) | |||
Unrealized Net Gains (Losses) on Available-for-Sale Securities | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Beginning balance | (1) | (4) | (1) | (3) | |||
Other comprehensive income (loss) before reclassifications | 1 | 1 | 1 | 0 | |||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 1 | 0 | 1 | |||
Total other comprehensive income (loss), net of tax | 1 | 2 | 1 | 1 | |||
Ending balance | 0 | (2) | 0 | (2) | |||
Unrealized Net Gains (Losses) on Derivative Instruments | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Beginning balance | 54 | 246 | 13 | 47 | |||
Other comprehensive income (loss) before reclassifications | (58) | (137) | 17 | 134 | |||
Amounts reclassified from accumulated other comprehensive income (loss) | (11) | (62) | (45) | (134) | |||
Total other comprehensive income (loss), net of tax | (69) | (199) | (28) | 0 | |||
Ending balance | (15) | 47 | (15) | 47 | |||
Foreign Currency Translation Adjustments | |||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||||
Beginning balance | (87) | (105) | (79) | (29) | |||
Other comprehensive income (loss) before reclassifications | 18 | 23 | 10 | (53) | |||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 | |||
Total other comprehensive income (loss), net of tax | 18 | 23 | 10 | (53) | |||
Ending balance | $ (69) | $ (82) | $ (69) | $ (82) | |||
|
Accumulated Other Comprehensive Income (Loss) - Schedule of Amounts Reclassed from AOCI (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ (11) | $ (61) | $ (45) | $ (133) |
Unrealized Net Gains (Losses) on Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | (11) | (62) | (45) | (134) |
Unrealized Net Gains (Losses) on Derivative Instruments | Net revenue | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | (13) | (67) | (54) | (147) |
Unrealized Net Gains (Losses) on Derivative Instruments | Research and development | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 2 | $ 6 | $ 9 | $ 14 |
Goodwill And Acquisition-Related Intangibles, Net - Schedule Of Changes In The Carrying Amount Of Goodwill (Details) $ in Millions |
9 Months Ended | |||
---|---|---|---|---|
Dec. 31, 2023
USD ($)
| ||||
Goodwill [Roll Forward] | ||||
Goodwill, gross, beginning balance | $ 5,748 | |||
Accumulated impairment, beginning balance | (368) | |||
Goodwill, net, beginning balance | 5,380 | [1] | ||
Goodwill acquired | 0 | |||
Effects of foreign currency translation | 2 | |||
Goodwill, gross, ending balance | 5,750 | |||
Accumulated impairment, ending balance | (368) | |||
Goodwill, net, ending balance | $ 5,382 | |||
|
Goodwill And Acquisition-Related Intangibles, Net - Schedule Of Acquisition-Related Intangibles (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
|||
---|---|---|---|---|---|
Finite-Lived Intangible Assets | |||||
Gross Carrying Amount | $ 1,707 | $ 1,703 | |||
Accumulated Amortization | (1,206) | (1,089) | |||
Acquisition- Related Intangibles, Net | 501 | 614 | |||
Intangible Assets, Gross (Excluding Goodwill) | 1,707 | 1,707 | |||
Acquisition-related intangibles, net | 501 | 618 | [1] | ||
In-process research and development | |||||
Finite-Lived Intangible Assets | |||||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 0 | 4 | |||
Indefinite Lived Intangible Asset , Accumulated Amortization | 0 | 0 | |||
Indefinite-Lived Intangible Assets, Net | 0 | 4 | |||
Developed and core technology | |||||
Finite-Lived Intangible Assets | |||||
Gross Carrying Amount | 1,055 | 1,051 | |||
Accumulated Amortization | (817) | (754) | |||
Acquisition- Related Intangibles, Net | 238 | 297 | |||
Trade names and trademarks | |||||
Finite-Lived Intangible Assets | |||||
Gross Carrying Amount | 596 | 596 | |||
Accumulated Amortization | (333) | (285) | |||
Acquisition- Related Intangibles, Net | 263 | 311 | |||
Registered user base and other intangibles | |||||
Finite-Lived Intangible Assets | |||||
Gross Carrying Amount | 56 | 56 | |||
Accumulated Amortization | (56) | (50) | |||
Acquisition- Related Intangibles, Net | $ 0 | $ 6 | |||
|
Goodwill And Acquisition-Related Intangibles, Net - Schedule Of Amortization Of Intangible Assets (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | $ 21 | $ 50 | $ 70 | $ 132 |
Cost of revenue | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | 16 | 26 | 47 | 95 |
Operating expenses | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | 21 | 50 | 70 | 132 |
Total | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | $ 37 | $ 76 | $ 117 | $ 227 |
Goodwill And Acquisition-Related Intangibles, Net - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|---|
Mar. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Mar. 31, 2023 |
|
Finite-Lived Intangible Assets | ||||||
Impairment of intangible assets (excluding goodwill) | $ 0 | $ 22 | $ 0 | $ 40 | ||
Forecast | ||||||
Finite-Lived Intangible Assets | ||||||
Impairment of intangible assets (excluding goodwill) | $ 70 | |||||
Operating expenses | ||||||
Finite-Lived Intangible Assets | ||||||
Impairment of intangible assets (excluding goodwill) | 28 | |||||
Revenue Cost | ||||||
Finite-Lived Intangible Assets | ||||||
Impairment of intangible assets (excluding goodwill) | $ 12 | |||||
Minimum | ||||||
Finite-Lived Intangible Assets | ||||||
Finite-lived intangible asset, useful life | 2 years | 2 years | ||||
Acquired finite-lived intangible assets, weighted average useful life | 4 years 3 months 18 days | |||||
Maximum | ||||||
Finite-Lived Intangible Assets | ||||||
Finite-lived intangible asset, useful life | 7 years | 7 years | ||||
Acquired finite-lived intangible assets, weighted average useful life | 4 years 9 months 18 days |
Goodwill And Acquisition-Related Intangibles, Net - Schedule Of Future Amortization Of Acquisition-Related Intangibles (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
---|---|---|
Finite-Lived Intangible Assets | ||
2024 (remaining three months) | $ 35 | |
2025 | 123 | |
2026 | 119 | |
2027 | 99 | |
2028 | 96 | |
2029 | 29 | |
Acquisition- Related Intangibles, Net | 501 | $ 614 |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year through after Year Five | ||
Finite-Lived Intangible Assets | ||
Acquisition- Related Intangibles, Net | $ 501 |
Royalties And Licenses - Schedule Of Royalty-Related Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
---|---|---|
Royalties and Licenses | ||
Royalty-related assets | $ 82 | $ 136 |
Other Current Assets | ||
Royalties and Licenses | ||
Royalty-related assets | 48 | 105 |
Other assets | ||
Royalties and Licenses | ||
Royalty-related assets | $ 34 | $ 31 |
Royalties And Licenses - Schedule Of Royalty-Related Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
---|---|---|
Royalty Related Liabilities | ||
Royalty-related liabilities | $ 227 | $ 208 |
Accrued royalties | ||
Royalty Related Liabilities | ||
Royalty-related liabilities | 200 | 208 |
Other liabilities | ||
Royalty Related Liabilities | ||
Royalty-related liabilities | $ 27 | $ 0 |
Royalties And Licenses - Narrative (Details) $ in Millions |
Dec. 31, 2023
USD ($)
|
---|---|
Royalties And Licenses [Line Items] | |
Unrecorded unconditional purchase obligation | $ 5,019 |
Developer/licensor commitments | |
Royalties And Licenses [Line Items] | |
Unrecorded unconditional purchase obligation | $ 2,195 |
Balance Sheet Details - Property And Equipment, Net Schedule (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
|||
---|---|---|---|---|---|
Property and Equipment, Net [Line Items] | |||||
Property and equipment, gross | $ 1,720 | $ 1,616 | |||
Less: accumulated depreciation | (1,159) | (1,067) | |||
Property and equipment, net | 561 | 549 | [1] | ||
Computer, equipment and software | |||||
Property and Equipment, Net [Line Items] | |||||
Property and equipment, gross | 961 | 892 | |||
Buildings | |||||
Property and Equipment, Net [Line Items] | |||||
Property and equipment, gross | 377 | 369 | |||
Leasehold improvements | |||||
Property and Equipment, Net [Line Items] | |||||
Property and equipment, gross | 183 | 186 | |||
Equipment, furniture and fixtures, and other | |||||
Property and Equipment, Net [Line Items] | |||||
Property and equipment, gross | 94 | 92 | |||
Land | |||||
Property and Equipment, Net [Line Items] | |||||
Property and equipment, gross | 67 | 66 | |||
Construction in progress | |||||
Property and Equipment, Net [Line Items] | |||||
Property and equipment, gross | $ 38 | $ 11 | |||
|
Balance Sheet Details - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Deferred Revenue Arrangement [Line Items] | ||||
Depreciation expense | $ 48 | $ 46 | $ 146 | $ 135 |
Recognition of revenue deferral | 1,942 | $ 2,124 | ||
Total deferred revenue | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Revenue, remaining performance obligation, amount | $ 2,080 | $ 2,080 |
Balance Sheet Details - Accrued And Other Current Liabilities Schedule (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
|||
---|---|---|---|---|---|
Balance Sheet Related Disclosures [Abstract] | |||||
Accrued compensation and benefits | $ 417 | $ 436 | |||
Accrued royalties | 200 | 208 | |||
Deferred net revenue (other) | 68 | 103 | |||
Operating lease liabilities | 71 | 66 | |||
Other accrued expenses | 395 | 382 | |||
Sales returns and price protection reserves | 148 | 90 | |||
Accrued and other current liabilities | $ 1,299 | $ 1,285 | [1] | ||
|
Balance Sheet Details - Deferred Net Revenue (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
|||
---|---|---|---|---|---|
Deferred Revenue Arrangement [Line Items] | |||||
Deferred revenue, current | $ 1,919 | $ 1,901 | [1] | ||
Deferred net revenue (online-enabled games) | |||||
Deferred Revenue Arrangement [Line Items] | |||||
Deferred revenue, current | 1,919 | 1,901 | |||
Deferred net revenue (other) | |||||
Deferred Revenue Arrangement [Line Items] | |||||
Deferred revenue, current | 68 | 103 | |||
Deferred net revenue (noncurrent) | |||||
Deferred Revenue Arrangement [Line Items] | |||||
Deferred revenue, noncurrent | 93 | 67 | |||
Total deferred net revenue | |||||
Deferred Revenue Arrangement [Line Items] | |||||
Deferred revenue | $ 2,080 | $ 2,071 | |||
|
Income Taxes - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Income Tax Examination [Line Items] | ||||
Effective income tax rate reconciliation, percent | 24.00% | 28.00% | 18.00% | 29.00% |
Income tax expense (benefit), continuing operations, adjustment of deferred tax (asset) liability | $ 92 | |||
Gross unrecognized tax benefits | $ 761 | $ 761 | ||
Pro Forma | ||||
Income Tax Examination [Line Items] | ||||
Effective income tax rate reconciliation, percent | 24.00% | 26.00% |
Financing Arrangements - Senior Notes Narrative (Details) - USD ($) $ in Millions |
1 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Feb. 28, 2021 |
Feb. 29, 2016 |
Dec. 31, 2023 |
Mar. 31, 2023 |
|
Debt Instrument [Line Items] | ||||
Proceeds from debt, net of issuance costs | $ 1,478 | |||
Amortization of debt discount (premium) | 6 | |||
Debt issuance costs, gross | 16 | |||
Proceeds from issuance of senior long-term debt | $ 395 | |||
2031 Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 750 | $ 750 | $ 750 | |
Debt instrument, interest rate, stated percentage | 1.85% | |||
Debt instrument, interest rate, effective percentage | 1.98% | |||
Debt instrument, convertible, remaining discount amortization period | 7 years 1 month 6 days | |||
2051 Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 750 | $ 750 | 750 | |
Debt instrument, interest rate, stated percentage | 2.95% | |||
Debt instrument, interest rate, effective percentage | 3.04% | |||
Debt instrument, convertible, remaining discount amortization period | 27 years 1 month 6 days | |||
2026 Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 400 | $ 400 | 400 | |
Debt instrument, interest rate, stated percentage | 4.80% | |||
Debt instrument, interest rate, effective percentage | 4.97% | |||
Debt instrument, convertible, remaining discount amortization period | 2 years 2 months 12 days | |||
Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 1,900 | 1,900 | ||
Debt instrument, unamortized discount (premium), net | $ (1) | (5) | (6) | |
Unamortized debt issuance costs | $ (4) | $ (14) | $ (14) | |
Debt instrument, redemption price, percentage | 100.00% | |||
Change of control repurchase event | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, redemption price, percentage | 101.00% |
Financing Arrangements - Schedule of Carrying and Fair Values of Senior Notes (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
Feb. 28, 2021 |
Feb. 29, 2016 |
---|---|---|---|---|
Line of Credit Facility [Line Items] | ||||
Senior notes | $ 1,881 | $ 1,880 | ||
2026 Notes | ||||
Line of Credit Facility [Line Items] | ||||
Long-term debt | 400 | 400 | $ 400 | |
2031 Notes | ||||
Line of Credit Facility [Line Items] | ||||
Long-term debt | 750 | 750 | $ 750 | |
2051 Notes | ||||
Line of Credit Facility [Line Items] | ||||
Long-term debt | 750 | 750 | $ 750 | |
Senior Notes | ||||
Line of Credit Facility [Line Items] | ||||
Long-term debt | 1,900 | 1,900 | ||
Debt instrument, unamortized discount (premium), net | (5) | (6) | (1) | |
Unamortized debt issuance costs | (14) | (14) | $ (4) | |
Fair value of Senior Notes (Level 2) | $ 1,559 | $ 1,540 |
Financing Arrangement - Line of Credit Facility (Details) - Revolving Credit Facility - USD ($) $ in Millions |
9 Months Ended | |
---|---|---|
Dec. 31, 2023 |
Mar. 22, 2023 |
|
Line of Credit Facility [Line Items] | ||
Credit facility, maximum borrowing capacity | $ 500 | |
Option to request additional commitments on credit facility | $ 500 | |
Debt issuance costs | $ 2 | |
Line of credit facility term | 5 years | |
Secured Overnight Financing Rate (SOFR) | ||
Line of Credit Facility [Line Items] | ||
Debt instrument, basis spread on variable rate | 0.10% |
Financing Arrangement - Schedule Of Interest Expense Related To Notes (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Debt Disclosure [Abstract] | ||||
Amortization of debt issuance costs | $ 0 | $ (1) | $ (1) | $ (2) |
Coupon interest expense | (14) | (13) | (42) | (41) |
Other interest expense | (1) | 0 | (1) | 0 |
Total interest expense | $ (15) | $ (14) | $ (44) | $ (43) |
Commitments And Contingencies - Narrative (Details) $ in Millions |
Dec. 31, 2023
USD ($)
|
---|---|
Commitments and Contingencies Disclosure [Abstract] | |
Unrecognized tax benefits, interest on income taxes accrued | $ 475 |
Commitments And Contingencies - Minimum Contractual Obligations (Details) $ in Millions |
Dec. 31, 2023
USD ($)
|
---|---|
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | $ 5,019 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 224 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 984 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 1,042 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 859 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 463 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 375 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 1,072 |
Recorded Total | 2,269 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 38 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 69 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 459 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 41 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 33 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 23 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 1,606 |
Total Unconditional Purchase Obligation Balance Sheet Amount | 7,288 |
Total Unconditional Purchase Obligation Balance Sheet Amount Remaining For Current Fiscal Year | 262 |
Total Unconditional Purchase Obligation Balance Sheet Amount One Year After Fiscal Year End | 1,053 |
Total Unconditional Purchase Obligation Balance Sheet Amount Two Years After Fiscal Year End | 1,501 |
Total Unconditional Purchase Obligation Balance Sheet Amount Three Years After Fiscal Year End | 900 |
Total Unconditional Purchase Obligation Balance Sheet Amount Four Years After Fiscal Year End | 496 |
Total Unconditional Purchase Obligation Balance Sheet Amount Five Years After Fiscal Year End | 398 |
Total Unconditional Purchase Obligation Balance Sheet Amount Thereafter | $ 2,678 |
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract | 12 years |
Developer/licensor commitments | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | $ 2,195 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 63 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 441 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 501 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 505 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 237 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 215 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 233 |
Marketing commitments | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 1,452 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 53 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 263 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 317 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 277 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 176 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 112 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 254 |
Senior Notes interest | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 739 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 55 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 54 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 36 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 36 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 36 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 514 |
Operating lease imputed interest | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 46 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 3 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 11 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 6 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 5 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 4 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 9 |
Other purchase obligations | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 486 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 97 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 207 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 154 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 27 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 1 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 0 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 0 |
Senior Notes principal and interest | |
Long-term Purchase Commitment [Line Items] | |
Recorded Total | 1,920 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 20 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 400 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 1,500 |
Operating leases | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 101 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 0 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 7 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 62 |
Recorded Total | 336 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 18 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 63 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 52 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 41 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 33 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 23 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 106 |
Transition Tax and other taxes | |
Long-term Purchase Commitment [Line Items] | |
Recorded Total | 13 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 0 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 6 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 7 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | $ 0 |
Stock-Based Compensation - Schedule Of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions |
9 Months Ended |
---|---|
Dec. 31, 2023
USD ($)
$ / shares
shares
| |
Options (in thousands) | |
Options, outstanding, beginning balance (in shares) | shares | 121 |
Options, granted (in shares) | shares | 2 |
Options, exercised (in shares) | shares | (90) |
Options, outstanding, ending balance (in shares) | shares | 33 |
Options, vested and expected to vest (in shares) | shares | 33 |
Options, exercisable (in shares) | shares | 33 |
Weighted- Average Exercise Prices | |
Weighted-average exercise price of options outstanding, beginning balance (in dollars per share) | $ / shares | $ 40.43 |
Weighted-average exercise price of options granted during period (in dollars per share) | $ / shares | 128.90 |
Weighted-average exercise price of options exercised during the period (in dollars per share) | $ / shares | 39.28 |
Weighted-average exercise price of options outstanding, ending balance (in dollars per share) | $ / shares | 50.31 |
Weighted-average exercise price of options vested and expected to vest (in dollars per share) | $ / shares | 50.31 |
Weighted-average exercise price of options exercisable (in dollars per share) | $ / shares | $ 50.31 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract] | |
Weighted-average remaining contractual term of options outstanding | 2 years 7 months 13 days |
Weighted-average remaining contractual term of options vested and expected to vest | 2 years 7 months 13 days |
Weighted-average remaining contractual term of options exercisable | 2 years 7 months 13 days |
Aggregate intrinsic value of options outstanding | $ | $ 3 |
Aggregate intrinsic value of options vested and expected to vest | $ | 3 |
Aggregate intrinsic value of options exercisable | $ | $ 3 |
Stock-Based Compensation - Schedule Of Restricted Stock Rights Activity, Excluding Performance-Based Activity (Details) - Restricted Stock Rights shares in Thousands |
9 Months Ended |
---|---|
Dec. 31, 2023
$ / shares
shares
| |
Restricted Stock Units (in thousands) | |
Outstanding balance (in shares) | shares | 7,502 |
Granted (in shares) | shares | 4,521 |
Vested (in shares) | shares | (3,668) |
Forfeited or cancelled (in shares) | shares | (664) |
Outstanding balance (in shares) | shares | 7,691 |
Weighted- Average Grant Date Fair Values | |
Weighted-average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 128.54 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | 128.76 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | 130.08 |
Weighted-average grant date fair value, forfeited or cancelled during period (in dollars per share) | $ / shares | 129.56 |
Weighted-average grant date fair value, ending balance (in dollars per share) | $ / shares | $ 127.85 |
Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Aug. 31, 2022 |
Nov. 30, 2020 |
|
Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Measurement periods for performance based restricted stock | 3 years | 3 years | ||||
Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Measurement periods for performance based restricted stock | 4 years | 4 years | ||||
Market-Based Restricted Stock Units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 15 | $ 15 | ||||
Market-Based Restricted Stock Units | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 0.00% | 0.00% | ||||
Market-Based Restricted Stock Units | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 200.00% | 200.00% | ||||
Performance Based Restricted Stock Units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 21 | $ 21 | ||||
Performance Based Restricted Stock Units | Minimum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 0.00% | 0.00% | ||||
Performance Based Restricted Stock Units | Maximum | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 200.00% | 200.00% | ||||
Restricted Stock Rights | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 817 | $ 817 | ||||
Weighted-average service period | 1 year 10 months 24 days | |||||
Restricted Stock Units (RSUs) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation cost related to stock options and restricted stock rights | 781 | $ 781 | ||||
August 2022 Program | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Amount of common stock authorized for repurchase | $ 2,600 | |||||
November 2020 Program | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Amount of common stock authorized for repurchase | $ 2,600 | |||||
Stock-based compensation expense | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Deferred income tax expense (benefit) | $ 16 | $ 11 | $ 66 | $ 56 |
Stock-Based Compensation - Schedule Of Performance-Based Restricted Stock Unit Activity (Details) - Performance Based Restricted Stock Units shares in Thousands |
9 Months Ended |
---|---|
Dec. 31, 2023
$ / shares
shares
| |
Performance- Based Restricted Stock Units (in thousands) | |
Outstanding balance (in shares) | shares | 557 |
Granted (in shares) | shares | 682 |
Vested (in shares) | shares | (73) |
Forfeited or cancelled (in shares) | shares | (330) |
Outstanding balance (in shares) | shares | 836 |
Weighted- Average Grant Date Fair Values | |
Weighted-average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 130.03 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | 128.66 |
Weighted-average grant date fair value, forfeited or cancelled during period (in dollars per share) | $ / shares | 128.74 |
Weighted-average grant date fair value, ending balance (in dollars per share) | $ / shares | 129.60 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | $ 127.98 |
Stock-Based Compensation - Schedule Of Market-Based Restricted Stock Unit Activity (Details) - Market-Based Restricted Stock Units shares in Thousands |
9 Months Ended |
---|---|
Dec. 31, 2023
$ / shares
shares
| |
Market-Based Restricted Stock Units (in thousands) | |
Outstanding balance (in shares) | shares | 822 |
Granted (in shares) | shares | 143 |
Vested (in shares) | shares | (50) |
Forfeited or cancelled (in shares) | shares | (561) |
Outstanding balance (in shares) | shares | 354 |
Weighted- Average Grant Date Fair Values | |
Weighted-average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 149.98 |
Weighted-average grant date fair values of market-based restricted stock rights granted (in dollars per share) | $ / shares | 152.92 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | 125.62 |
Weighted-average grant date fair value, forfeited or cancelled during period (in dollars per share) | $ / shares | 141.20 |
Weighted-average grant date fair value, ending balance (in dollars per share) | $ / shares | $ 168.53 |
Stock-Based Compensation - Schedule Of Stock-Based Compensation Expense By Statement Of Operations (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 151 | $ 141 | $ 436 | $ 406 |
Cost of revenue | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 2 | 2 | 6 | 5 |
Research and development | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 108 | 95 | 314 | 271 |
Marketing and sales | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 14 | 15 | 38 | 44 |
General and administrative | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 27 | $ 29 | $ 78 | $ 86 |
Stock-Based Compensation - Schedule of Share Repurchases (Details) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 9 Months Ended | ||||
---|---|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Sep. 30, 2022 |
Jun. 30, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Equity, Class of Treasury Stock [Line Items] | ||||||
Stock repurchased and retired during period, value | $ 325 | $ 325 | $ 325 | $ 320 | $ 975 | $ 970 |
Stock repurchased and retired during period, shares | 2.5 | 2.6 | 7.6 | 7.7 | ||
November 2020 Program | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Stock repurchased and retired during period, value | $ 0 | $ 5 | $ 0 | $ 650 | ||
Stock repurchased and retired during period, shares | 0.0 | 0.0 | 0.0 | 5.1 | ||
August 2022 Program | ||||||
Equity, Class of Treasury Stock [Line Items] | ||||||
Stock repurchased and retired during period, value | $ 325 | $ 320 | $ 975 | $ 320 | ||
Stock repurchased and retired during period, shares | 2.5 | 2.6 | 7.6 | 2.6 |
Earnings Per Share - Computation Of Basic Earnings And Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Earnings Per Share Reconciliation [Abstract] | ||||
Net income | $ 290 | $ 204 | $ 1,091 | $ 814 |
Weighted average number of shares outstanding, basic (in shares) | 269 | 276 | 271 | 278 |
Dilutive potential common shares related to stock award plans (in shares) | 2 | 2 | 1 | 1 |
Weighted-average common stock outstanding - diluted (in shares) | 271 | 278 | 272 | 279 |
Basic (in dollars per share) | $ 1.08 | $ 0.74 | $ 4.03 | $ 2.93 |
Diluted (in dollars per share) | $ 1.07 | $ 0.73 | $ 4.01 | $ 2.92 |
Earnings Per Share - Narrative (Details) - shares |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Earnings Per Share Reconciliation [Abstract] | ||||
Antidilutive securities excluded from computation of earnings (loss) per share, amount (in shares) | 0 | 1,000,000 | 1,000,000 | 1,000,000 |
Segment and Revenue Information - Narrative (Details) |
9 Months Ended |
---|---|
Dec. 31, 2023
segment
| |
Segment Reporting [Abstract] | |
Number of reportable segments | 1 |
Segment and Revenue Information - Net Revenue By Timing Recognition (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 1,945 | $ 1,881 | $ 5,783 | $ 5,552 |
Revenue recognized at a point in time | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 784 | 762 | 2,085 | 1,833 |
Revenue recognized over time | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 1,161 | $ 1,119 | $ 3,698 | $ 3,719 |
Segment and Revenue Information - Net Revenue By Revenue Composition (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 1,945 | $ 1,881 | $ 5,783 | $ 5,552 |
Full game, net revenue | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 618 | 622 | 1,682 | 1,565 |
Full game downloads, net revenue | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 431 | 423 | 1,078 | 988 |
Packaged goods, net revenue | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 187 | 199 | 604 | 577 |
Live services and other, net revenue | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 1,327 | $ 1,259 | $ 4,101 | $ 3,987 |
Segment and Revenue Information - Net Revenue By Platform (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Net Revenue by Platform [Line Items] | ||||
Net revenue | $ 1,945 | $ 1,881 | $ 5,783 | $ 5,552 |
Console | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | 1,229 | 1,152 | 3,583 | 3,355 |
PC and other | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | 420 | 435 | 1,294 | 1,260 |
Mobile | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | $ 296 | $ 294 | $ 906 | $ 937 |
Segment and Revenue Information - Net Revenue By Geographic Area (Details) - USD ($) $ in Millions |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|
Revenue from External Customer [Line Items] | ||||
Net revenue | $ 1,945 | $ 1,881 | $ 5,783 | $ 5,552 |
North America | ||||
Revenue from External Customer [Line Items] | ||||
Net revenue | 777 | 801 | 2,331 | 2,357 |
International | ||||
Revenue from External Customer [Line Items] | ||||
Net revenue | $ 1,168 | $ 1,080 | $ 3,452 | $ 3,195 |
Restructuring Activities - Narrative (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Mar. 31, 2023 |
---|---|---|
Restructuring Cost and Reserve [Line Items] | ||
Restructuring reserve | $ 1 | $ 35 |
2023 Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and related cost, expected cost | $ 158 |
Restructuring Activities - Schedule of Restructuring Activities (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |
---|---|---|---|
Dec. 31, 2023 |
Sep. 30, 2023 |
Mar. 31, 2023 |
|
Restructuring Cost and Reserve [Line Items] | |||
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] | Restructuring (See Note 7) | ||
Restructuring Reserve [Roll Forward] | |||
Charges to operations | $ 3 | $ 155 | |
Charges settled in cash | (37) | (10) | |
Non-cash items | (110) | ||
Restructuring reserve | 1 | $ 35 | |
Acquisition Related Intangibles Impairments and Other Charges | |||
Restructuring Reserve [Roll Forward] | |||
Charges to operations | 0 | 68 | |
Charges settled in cash | (2) | 0 | |
Non-cash items | (66) | ||
Restructuring reserve | 0 | 2 | |
Workforce | |||
Restructuring Reserve [Roll Forward] | |||
Charges to operations | 3 | 43 | |
Charges settled in cash | (35) | (10) | |
Non-cash items | 0 | ||
Restructuring reserve | 1 | 33 | |
Office Space Reductions | |||
Restructuring Reserve [Roll Forward] | |||
Charges to operations | 0 | 44 | |
Charges settled in cash | 0 | 0 | |
Non-cash items | $ (44) | ||
Restructuring reserve | $ 0 | $ 0 |
;6L)0]3FF%&^.:;W3.A
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M=-GI\W*GO[O:\S>-C9_\K/CB^P)1._EENSF;T]?7$)$S33AVE'4&A"F&
MECU(^KG! :8I.R(8OY<^O=64;+C>7GK_Z&*G6,;2X$"E/R>1C0^\C@<13N0\
MM9=J<8QE/$WV%ZK4N&]8%&-;70_"N;$J*XT)09;DQ:^\+?.P9M"I?\5 E ;"
MX2XF
HS*=? @+/?(YA(.A(JF
M1U;*';(2=.XP#NGP(I& INMH98"U+$E;TYVPA15*#7#N,X2UUZIR9>)M8_IL
M]/ 6_Z,Q*3Y80=OF=1;:0Y?TT4CW6W"-Q6@2BLK>B3NM$C@'(DAQ]A*R9 ZA
MO T.-9[:Y<2+[%P@$.^V>>]L+ GPYCIKLG"@"=/E@;.1OV/JT\JB?MV]O/B4U'F($)VL^1)U[)JR
M7>_[$R;1ZB3-?PSJ#A&_TSFXG,B/73V/M]#2;D;CGZ\_-9-Q-V&Z41[".@CG
MI , :L5#!WK^41:Q_-8?@O'WB*[;3:+83KT]E\;@_32@E:)
E:!_8KE I]5O0^NR[?9RI2W_UVTZ:G)C2BI)
M.E)E7"7&O78UW-,3W1RS/]VC*W8!!X.XGB.X;2[B2+7U%9]10-+VROW^537W
M(CC#W'[#W/Y9YMY)BT0/Z]GP0/>OX4ZF*L=3C#OORI&K(HI+VWH*5QV$CHP8
M46K@NVCX0KW*(#6+5*VE/U)J6YY_=J,1/1Q) 2"OWBAT;]0)JCD]$A(R8^Y&
M*$0J2J=+5.6'R2F?'/?)0:L&T+X 29=%3!FRF*0JN9DXP2/&.."7-+4[ZK
MU(<"-7-]ZJ@<%A[YX:,*]RZ%-RL>M4>\EZ85K[Q7%^(4N][#AW>#)$X^D=2*
MV_N1>#%3)3TEQZ=;,[)+0R]Q UD\U,=PI-IN AS*5=T(
U-E\77AM@M\SG%-#/C_3"F[.9"!]H$X^A]02P,$% @ PH%&6-E,
MZF<7 P APD !D !X;"]W;W)K7P,5RY'2
D('8"">IG1E
MI\7!AS36=145=U([T2J>H%9][Y,A[&XWS@GE$V&4#/,E"J
M8Y_P>)1#C[C&G;C&O>):%H6NB8_3UB>?YTVMM2OS'6=K+KCEM#GZ9-:+?UYF
MKT&/Q2W:H.(DZ/?0VRNS@G1'_Z!F>5S -4K<<-+.!8SBB;NG66>MU0L3GC/]
M%>F:4K@-4D:E7S*-3RAKA$N?ZP RTD>4PB=:8PH@MR"<3+_)?1([A34+PMHH
M^.PHT<)9!$-G%!WC
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MXIYK_*EO3_3:#6Y.ZJOGA'7>=.?-BZC;)M3OFQ
__#-XS57/*9(-K$@W.