INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2017

Components of income from continuing operations before income taxes

The domestic (Singapore) and foreign components of income before income taxes were comprised of the following:



	Fiscal Year Ended March 31,
	2017			2016		2015
	(In thousands)
Domestic	$	435,709		$	199,283	$	67,482
Foreign	(64,861		)	255,392		603,173
Total	$	370,848		$	454,675	$	670,655

Schedule of provision for income taxes

The provision for income taxes consisted of the following:



	Fiscal Year Ended March 31,
	2017			2016			2015
	(In thousands)
Current:
Domestic	$	1,037		$	56		$	87
Foreign	71,773			74,706			129,863
	72,810			74,762			129,950
Deferred:
Domestic	350			3,779			(4,734		)
Foreign	(21,876		)	(67,947		)	(55,362		)
	(21,526		)	(64,168		)	(60,096		)
Provision for income taxes	$	51,284		$	10,594		$	69,854

Schedule of reconciliation of the income tax expense from continuing operations expected based on domestic statutory income tax rates to the expense for income taxes

The reconciliation of the income tax expense expected based on domestic statutory income tax rates to the expense for income taxes included in the consolidated statements of operations is as follows:



	Fiscal Year Ended March 31,
	2017			2016			2015
	(In thousands)
Income taxes based on domestic statutory rates	$	63,044		$	77,295		$	114,011
Effect of tax rate differential	(85,132		)	(62,072		)	(75,699		)
Change in liability for uncertain tax positions	684			(13,724		)	29,729
Change in valuation allowance	78,728			1,049			2,495
Other	(6,040		)	8,046			(682		)
Provision for income taxes	$	51,284		$	10,594		$	69,854

Components of deferred income taxes

The components of deferred income taxes are as follows:



	As of March 31,
	2017			2016
	(In thousands)
Deferred tax liabilities:
Fixed assets	$	(40,324	)	$	(74,316	)
Intangible assets	(76,432		)	(88,760		)
Others	(20,702		)	(29,472		)
Total deferred tax liabilities	(137,458		)	(192,548		)
Deferred tax assets:
Fixed assets	57,869			65,004
Intangible assets	3,153			3,795
Deferred compensation	19,335			15,892
Inventory valuation	8,489			10,124
Provision for doubtful accounts	2,911			1,300
Net operating loss and other carryforwards	2,369,405			2,332,894
Others	266,367			271,272
	2,727,529			2,700,281
Valuation allowances	(2,442,105		)	(2,385,489		)
Net deferred tax assets	285,424			314,792
Net deferred tax asset	$	147,966		$	122,244
The net deferred tax asset is classified as follows:
Current asset (classified as other current assets)	$	—		$	—
Long-term asset	223,285			222,772
Long-term liability	(75,319		)	(100,528		)
Total	$	147,966		$	122,244

Schedule of tax losses and other carryforwards on a tax return basis, which will expire at various dates

These tax losses and other carryforwards will expire at various dates as follows:



Expiration dates of deferred tax assets related to operating losses and other carryforwards
	(In thousands)
2018 - 2023	$	682,705
2024 - 2029	925,092
2030 and post	378,047
Indefinite	404,763
	$	2,390,607

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



	Fiscal Year Ended March 31,
	2017			2016
	(In thousands)
Balance, beginning of fiscal year	$	212,326		$	222,373
Additions based on tax position related to the current year	29,007			21,273
Additions for tax positions of prior years	9,728			20,453
Reductions for tax positions of prior years	(22,065		)	(9,578		)
Reductions related to lapse of applicable statute of limitations	(13,390		)	(22,312		)
Settlements	(3,684		)	(12,797		)
Impact from foreign exchange rates fluctuation	(8,599		)	(7,086		)
Balance, end of fiscal year	$	203,323		$	212,326