INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of of (loss) income from continuing operations before income taxes

Components of income before income taxes are as follows:

	Fiscal Year Ended March 31,
	2020		2019		2018
Domestic	$	322,297	$	134,265	$	136,239
Foreign	136,142		98,520		386
Income before income taxes	$	458,439	$	232,785	$	136,625

Schedule of provision for current and deferred income taxes

Provision for (benefit from) current and deferred income taxes consists of the following:

	Fiscal Year Ended March 31,
	2020		2019		2018
Current:
U.S. federal	$	26,561	$	8,240	$	(7,327)
U.S. state and local	3,575		2,857		(1,266)
Foreign	10,061		22,274		4,208
Total current income taxes	40,197		33,371		(4,385)
Deferred:
U.S. federal	45,079		(128,317)		(13,530)
U.S. state and local	1,317		(9,157)		195
Foreign	(32,613)		3,051		(19,188)
Total deferred income taxes	13,783		(134,423)		(32,523)
Provision for (benefit from) income taxes	$	53,980	$	(101,052)	$	(36,908)

Schedule of reconciliation of effective tax rate to the U.S. statutory federal income tax rate

A reconciliation of our effective tax rate to the U.S. statutory federal income tax rate is as follows:

	Fiscal Year Ended March 31,
	2020		2019		2018
U.S. federal statutory rate	21.0	%	21.0	%	31.6	%
State and local taxes, net of U.S. federal benefit	2.1	%	2.9	%	0.5	%
Foreign tax rate differential(1)	1.0	%	(9.0)	%	(6.9)	%
Foreign earnings(2)	(9.3)	%	5.1	%	1.2	%
Tax credits(3)	(8.3)	%	(15.0)	%	(16.5)	%
Excess tax benefits from stock-based compensation	(1.8)	%	(5.7)	%	(38.9)	%
One-time transition tax	—	%	(2.0)	%	19.5	%
Domestic production deduction	—	%	—	%	(2.8)	%
Valuation allowance—domestic	0.2	%	(46.0)	%	(0.5)	%
Valuation allowance—foreign(2)	7.3	%	—	%	(2.5)	%
Change in reserves	(2.0)	%	1.3	%	(11.0)	%
Other	1.6	%	4.0	%	(0.7)	%
Effective tax rate	11.8	%	(43.4)	%	(27.0)	%

(1) The foreign rate differentials in relation to foreign earnings, for all periods presented, are primarily driven by changes in the mix of our foreign earnings and the difference between the foreign and U.S. income tax rates. Includes the impact of the reversal of a net deferred tax asset of $19,826 related to the effects of stock-based compensation from our intercompany cost-sharing arrangements due to an appeals court decision issued in Altera Corp. v. Commissioner for the fiscal year ended March 31, 2020.

(2) Includes effects of a deferred tax asset and valuation allowance associated with a tax basis step up received in Switzerland related to the Federal Act on Tax Reform and AVH Financing ("TRAF") enacted on January 1, 2020.

(3) Tax benefits were recorded for fiscal years ended March 31, 2020, 2019, and 2018 attributable to certain tax credits related to software development activities.

Schedule of effects of temporary differences that gave rise to deferred tax assets and liabilities

The effects of temporary differences that gave rise to our deferred tax assets and liabilities were as follows:

	March 31,
	2020		2019
Deferred tax assets:
Accrued compensation expense	$	124,276	$	113,517
Equity-based compensation	66,253		82,720
Tax credit carryforward	45,746		72,408
Tax basis step up related to TRAF	45,266		—
Operating lease liabilities	39,512		—
Net operating loss carryforward	5,555		27,498
Business reorganization	1,874		158
Deferred rent	—		5,965
Other	7,785		411
Total deferred tax assets	336,267		302,677
Less: Valuation allowance	(86,937)		(49,413)
Net deferred tax assets	249,330		253,264
Deferred tax liabilities:
Capitalized software and depreciation	(74,006)		(101,168)
Right of use assets	(36,947)		—
Intangible amortization	(18,206)		(22,486)
Deferred revenue	(5,038)		(17,100)
Other	(3,587)		(4,690)
Total deferred tax liabilities	(137,784)		(145,444)
Net deferred tax asset / (liability) (1)	111,546		107,820

(1) As of March 31, 2020, $116,676 is included in Deferred tax assets and $5,130 is included in Other long-term liabilities. As of March 31, 2019, $134,732 is included in Deferred tax assets and $26,912 is included in Other long-term liabilities.

Schedule of aggregate changes to the liability for gross uncertain tax positions, excluding interest and penalties

The aggregate changes to the liability for gross uncertain tax positions, excluding interest and penalties, were as follows:

	Fiscal Year Ended March 31,
	2020		2019		2018
Balance, beginning of period	$	132,320	$	122,056	$	116,085
Additions:
Current year tax positions	8,596		13,281		23,007
Prior year tax positions	1,404		288		7,406
Reduction of prior year tax positions	(14,270)		(1,700)		(436)
Lapse of statute of limitations	(538)		(1,605)		(24,006)
Balance, end of period	$	127,512	$	132,320	$	122,056