INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2018

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,
	2018		2017			2016
	(In thousands)
Domestic	$	323,522	$	435,709		$	199,283
Foreign	197,371		(64,861		)	255,392
Total	$	520,893	$	370,848		$	454,675

Schedule of provision for income taxes

The provision for income taxes consisted of the following:



	Fiscal Year Ended March 31,
	2018		2017			2016
	(In thousands)
Current:
Domestic	$	2,894	$	1,037		$	56
Foreign	50,889		71,773			74,706
	53,783		72,810			74,762
Deferred:
Domestic	422		350			3,779
Foreign	38,154		(21,876		)	(67,947		)
	38,576		(21,526		)	(64,168		)
Provision for income taxes	$	92,359	$	51,284		$	10,594

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,
	2018			2017			2016
	(In thousands)
Income taxes based on domestic statutory rates	$	88,552		$	63,044		$	77,295
Effect of tax rate differential	(244,128		)	(85,132		)	(62,072		)
Change in liability for uncertain tax positions	22,180			684			(13,724		)
Change in valuation allowance	297,330			78,728			1,049
Recognition of prior year taxes recoverable	(53,757		)	—			—
Other	(17,818		)	(6,040		)	8,046
Provision for income taxes	$	92,359		$	51,284		$	10,594

Components of deferred income taxes

The components of deferred income taxes are as follows:



	As of March 31,
	2018			2017
	(In thousands)
Deferred tax liabilities:
Fixed assets	$	(33,056	)	$	(40,324	)
Intangible assets	(80,565		)	(76,432		)
Others	(12,544		)	(20,702		)
Total deferred tax liabilities	(126,165		)	(137,458		)
Deferred tax assets:
Fixed assets	65,155			57,869
Intangible assets	11,237			3,153
Deferred compensation	13,475			19,335
Inventory valuation	6,952			8,489
Provision for doubtful accounts	3,073			2,911
Net operating loss and other carryforwards	2,133,097			2,369,405
Others	236,916			266,367
Total deferred tax assets	2,469,905			2,727,529
Valuation allowances	(2,259,956		)	(2,442,105		)
Total deferred tax assets, net of valuation allowances	209,949			285,424
Net deferred tax asset	$	83,784		$	147,966
The net deferred tax asset is classified as follows:
Long-term asset	$	165,319		$	223,285
Long-term liability	(81,535		)	(75,319		)
Total	$	83,784		$	147,966

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)
2019 - 2024	$	513,828
2025 - 2030	614,307
2031 and post	178,484
Indefinite	852,455
	$	2,159,074

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,
	2018			2017
	(In thousands)
Balance, beginning of fiscal year	$	203,323		$	212,326
Additions based on tax position related to the current year	24,415			29,007
Additions for tax positions of prior years	5,926			9,728
Reductions for tax positions of prior years	(11,936		)	(22,065		)
Reductions related to lapse of applicable statute of limitations	(9,029		)	(13,390		)
Settlements	—			(3,684		)
Impact from foreign exchange rates fluctuation	14,891			(8,599		)
Balance, end of fiscal year	$	227,590		$	203,323