Income taxes (Tables)

12 Months Ended

Mar. 31, 2012

Rollforward of unrecognized tax benefits

The following table summarizes the activity related to the Company's gross unrecognized tax benefits from April 1, 2009 to March 31, 2012 (amounts in thousands):



	Year Ended March 31,
	2012			2011			2010
Beginning balance	$	58,125		$	57,140		$	70,051
Increases related to acquisitions	—			36,587			—
Decreases related to prior year tax positions	(2,153		)	(49,932		)	(25,492		)
Increases related to current year tax positions	11,992			13,951			11,332
Increases related to prior year tax positions	2,526			379			1,249
Ending balance	$	70,490		$	58,125		$	57,140

Components of income tax expense (benefit)

The income tax (benefit) provision from continuing operations consists of the following (amounts in thousands):



	Year Ended March 31,
	2012			2011			2010
Current (benefit) expense:
Federal	$	7,611		$	294		$	(4,358	)
State	544			21			(436		)
Foreign	21,174			22,877			6,981
Total current	$	29,329		23,192			2,187
Deferred expense (benefit):
Federal	$	14,942		11,035			16,663
State	1,067			788			1,668
Foreign	(2,348		)	(3,484		)	290
Total deferred	13,661			8,339			18,621
	$	42,990		$	31,531		$	20,808

Reconciliation of expected federal income tax expense to actual

The sources and tax effects of the differences in the total income tax (benefit) provision from continuing operations are as follows (amounts in thousands):



	Year Ended March 31,
	2012			2011			2010
Computed expected income tax provision	$	132,894		$	161,244		$	83,235
State income taxes, net of federal benefits	1,280			1,746			915
Research and development tax credits - current year	(3,750		)	(3,691		)	(1,500		)
Research and development tax credits - prior years	(5,894		)	—			—
Foreign income taxed at lower than the federal rate	(81,540		)	(103,373		)	(53,390		)
Tax benefit from audit settlements net of restructuring taxes	—			(24,395		)	(8,452		)
	$	42,990		$	31,531		$	20,808

Schedule of deferred tax assets and liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities are as follows (amounts in thousands):



	March 31,
	2012			2011
Deferred tax assets:
Deferred intercompany profit	$	14,624		$	11,031
Deferred income on shipments to distributors	23,646			33,304
Inventory valuation	6,245			5,740
Net operating loss carryforward	33,639			2,884
Share-based compensation	25,693			25,195
Income tax credits	103,882			68,647
Accrued expenses and other	10,770			11,052
Gross deferred tax assets	218,499			157,853
Valuation allowances	(78,506		)	(50,346		)
Deferred tax assets, net of valuation allowances	139,993			107,507
Deferred tax liabilities:
Property, plant and equipment, principally due to differences in depreciation	(7,844		)	(5,036		)
Junior convertible debentures	(445,826		)	(407,477		)
Other	(6,500		)	(5,699		)
Deferred tax liabilities	(460,170		)	(418,212		)
Net deferred tax liability	$	(320,177	)	$	(310,705	)

Reported as:
Current deferred tax assets	$	91,191		$	88,822
Non-current deferred tax liability	(411,368		)	(399,527		)
Net deferred tax liability	(320,177		)	(310,705		)