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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):
Fiscal Years Ending March 31,
2024
(Remaining
Totalthree mos.)20252026202720282029Thereafter
Unrecognized commitments
Developer/licensor commitments$2,195 $63 $441 $501 $505 $237 $215 $233 
Marketing commitments1,452 53 263 317 277 176 112 254 
Senior Notes interest739 8 55 54 36 36 36 514 
Operating lease imputed interest46 3 11 8 6 5 4 9 
Operating leases not yet commenced (a)
101 — 7 8 8 8 8 62 
Other purchase obligations486 97 207 154 27 1 — — 
Total unrecognized commitments5,019 224 984 1,042 859 463 375 1,072 
Recognized commitments
Senior Notes principal and interest1,920 20 — 400 — — — 1,500 
Operating leases336 18 63 52 41 33 23 106 
Transition Tax and other taxes13 — 6 7 — — — — 
Total recognized commitments2,269 38 69 459 41 33 23 1,606 
Total Commitments$7,288 $262 $1,053 $1,501 $900 $496 $398 $2,678 
(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.