Income Taxes (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Components of (loss) Income Before Income Taxes

The components of income (loss) before income taxes by jurisdiction are as follows:

	Fiscal Years Ended
	March 31,  2024			March 31,  2023			March 31,  2022
	(In thousands)
United States	$	(859,006	)	$	(94,019	)	$	(119,249	)
Foreign		(334,940	)		(68,136	)		(18,661	)
	$	(1,193,946	)	$	(162,155	)	$	(137,910	)

Summary of (Provision for) Benefit from Income Taxes

The (provision for) benefit from income taxes includes the following:

	Fiscal Years Ended
	March 31,  2024			March 31,  2023			March 31,  2022
	(In thousands)
Current tax provision
Federal	$	(12,128	)	$	(11,494	)	$	(7,097	)
State		(1,010	)		(5,231	)		(2,041	)
Foreign		(27,028	)		(5,965	)		(4,042	)
		(40,166	)		(22,690	)		(13,180	)
Deferred tax benefit
Federal		74,404			40,889			39,049
State		5,166			(80,715	)		8,057
Foreign		100,070			13,098			2,591
		179,640			(26,728	)		49,697
Total (provision for) benefit from income taxes	$	139,474		$	(49,418	)	$	36,517

Components of Net Deferred Tax Assets

Significant components of the Company’s net deferred tax assets are as follows:

	As of
	March 31,  2024			March 31,  2023
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	198,548		$	71,838
Tax credit carryforwards		141,015			115,418
Capitalized research and development costs		143,581			75,152
Operating lease liabilities		94,360			78,562
Deferred revenue		16,326			24,123
Interest carryforwards		88,269			2,485
Other		184,834			104,883
Valuation allowance		(353,642	)		(150,047	)
Total deferred tax assets		513,291			322,414
Deferred tax liabilities:
Intangible assets		(683,366	)		(99,629	)
Property, equipment and satellites		(725,990	)		(187,896	)
Operating lease assets		(80,258	)		(68,150	)
Other		(88,357	)		(29,004	)
Total deferred tax liabilities		(1,577,971	)		(384,679	)
Net deferred tax assets (liabilities)	$	(1,064,680	)	$	(62,265	)

Reconciliation of Benefit from (Provision for) Income Taxes to Amount Computed by Applying Statutory Federal Income Tax Rate to (Loss) Income before Income Taxes

A reconciliation of the benefit from (provision for) income taxes to the amount computed by applying the statutory federal income tax rate to income (loss) before income taxes is as follows:

	Fiscal Years Ended
	March 31,  2024			March 31,  2023			March 31,  2022
	(In thousands)
Tax (provision) benefit at federal statutory rate	$	250,728		$	34,047		$	28,964
State tax provision, net of federal benefit		28,621			202			1,330
Tax credits		28,574			23,925			25,994
Change in federal valuation allowances		(105,968	)	—			—
Change in state valuation allowances		(27,251	)		(73,600	)		(4,347	)
Non-deductible compensation		(5,240	)		(3,096	)		(5,771	)
Non-deductible transaction costs		(18,911	)		(167	)		(1,361	)
Non-deductible meals and entertainment		(1,077	)		(693	)		(311	)
Stock-based compensation		(12,182	)		(12,032	)		(7,402	)
Change in state effective tax rate		292			458			539
Base Erosion and Anti-Abuse Tax (BEAT)	—				(8,610	)	—
Foreign effective tax rate differential, net of    valuation allowance		6,199			(5,769	)		(6,201	)
Unremitted subsidiary gains		(1,586	)		(887	)		(1,565	)
Change to indefinite reinvestment assertion (EBI)	—			—				8,071
Other		(2,725	)		(3,196	)		(1,423	)
Total (provision for) benefit from income taxes	$	139,474		$	(49,418	)	$	36,517

Summary of Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits:

	As of
	March 31,  2024			March 31,  2023			March 31,  2022
	(In thousands)
Balance, beginning of fiscal year	$	129,738		$	112,806		$	92,962
Increase related to prior year tax positions		2,728			2,549			6,711
Decrease related to prior year tax positions		(190	)		(632	)		(578	)
Increase related to current year tax positions		15,608			16,123			12,358
Increase related to business combinations		54,193		—				2,713
Expiration of the statute of limitations for the assessment of taxes		(16,482	)		(1,108	)		(1,360	)
Balance, end of fiscal year	$	185,595		$	129,738		$	112,806