INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2019

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,
	2019			2018		2017
	(In thousands)
Domestic	$	(10,498	)	$	323,522	$	435,709
Foreign	192,624			197,371		(64,861		)
Total	$	182,126		$	520,893	$	370,848

Schedule of provision for income taxes

The provision for income taxes consisted of the following:



	Fiscal Year Ended March 31,
	2019			2018		2017
	(In thousands)
Current:
Domestic	$	1,517		$	2,894	$	1,037
Foreign	99,894			50,889		71,773
	101,411			53,783		72,810
Deferred:
Domestic	(40		)	422		350
Foreign	(12,644		)	38,154		(21,876		)
	(12,684		)	38,576		(21,526		)
Provision for income taxes	$	88,727		$	92,359	$	51,284

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,
	2019			2018			2017
	(In thousands)
Income taxes based on domestic statutory rates	$	30,961		$	88,552		$	63,044
Effect of tax rate differential	(135,033		)	(244,128		)	(85,132		)
Change in liability for uncertain tax positions	(15,381		)	22,180			684
Change in valuation allowance	191,896			297,330			78,728
Recognition of prior year taxes recoverable	5,439			(53,757		)	—
Expiration of tax attributes	4,277			—			—
Other	6,568			(17,818		)	(6,040		)
Provision for income taxes	$	88,727		$	92,359		$	51,284

Components of deferred income taxes

The components of deferred income taxes are as follows:



	As of March 31,
	2019			2018
	(In thousands)
Deferred tax liabilities:
Fixed assets	$	(39,376	)	$	(33,056	)
Intangible assets	(57,939		)	(80,565		)
Others	(14,879		)	(12,544		)
Total deferred tax liabilities	(112,194		)	(126,165		)
Deferred tax assets:
Fixed assets	67,980			65,155
Intangible assets	7,442			11,237
Deferred compensation	13,864			13,475
Inventory valuation	11,082			6,952
Provision for doubtful accounts	4,797			3,073
Net operating loss and other carryforwards	1,944,782			2,133,097
Others	243,016			236,916
Total deferred tax assets	2,292,963			2,469,905
Valuation allowances	(2,083,082		)	(2,259,956		)
Total deferred tax assets, net of valuation allowances	209,881			209,949
Net deferred tax asset	$	97,687		$	83,784
The net deferred tax asset is classified as follows:
Long-term asset	$	164,611		$	165,319
Long-term liability	(66,924		)	(81,535		)
Total	$	97,687		$	83,784

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)
2020 - 2025	$	606,378
2026 - 2031	444,040
2032 and post	295,361
Indefinite	691,313
	$	2,037,092

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,
	2019			2018
	(In thousands)
Balance, beginning of fiscal year	$	227,590		$	203,323
Additions based on tax position related to the current year	82,966			24,415
Additions for tax positions of prior years	5,575			5,926
Reductions for tax positions of prior years	(15,432		)	(11,936		)
Reductions related to lapse of applicable statute of limitations	(14,786		)	(9,029		)
Settlements	(22,174		)	—
Impact from foreign exchange rates fluctuation	(12,017		)	14,891
Balance, end of fiscal year	$	251,722		$	227,590