Net Sales

9 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Net Sales

Net Sales

The following table represents the Company's net sales by product line (in millions):

	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Microcontrollers	$	726.3	$	685.8	$	2,145.8	$	2,091.8
Analog	372.8		363.3		1,104.7		1,143.6
FPGA	99.1		92.6		294.3		276.8
LMO	153.9		145.7		426.5		435.6
Total net sales	$	1,352.1	$	1,287.4	$	3,971.3	$	3,947.8

The product lines listed above are included entirely in the Company's semiconductor product segment with the exception of the LMO product line, which includes products from both the semiconductor product and technology licensing segments.

The following table represents the Company's net sales by contract type (in millions):

	Three Months Ended December 31,				Nine Months Ended December 31,
	2020		2019		2020		2019
Distributors	$	681.6	$	638.8	$	2,003.7	$	1,970.0
Direct customers	638.3		618.2		1,890.2		1,905.6
Licensees	32.2		30.4		77.4		72.2
Total net sales	$	1,352.1	$	1,287.4	$	3,971.3	$	3,947.8

Distributors are customers that buy products with the intention of reselling them. Distributors generally have a distributor agreement with the Company to govern the terms of the relationship. Direct customers are non-distributor customers, which generally do not have a master sales agreement with the Company. The Company's direct customers primarily consist of OEMs and, to a lesser extent, contract manufacturers. Licensees are customers of the Company's technology licensing segment, which include purchasers of intellectual property and customers that have licensing agreements to use the Company's SuperFlash® embedded flash and Smartbits® one time programmable NVM technologies. All of the contract types listed in the table above are included in the Company's semiconductor product segment with the exception of licenses, which is included in the technology licensing segment.

Substantially all of the Company's net sales are recognized from contracts with customers.