v3.26.1
Income Taxes (Tables)
 12 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Components Of Income Before Provision For (Benefit From) Income Taxes
The components of our income before provision for income taxes for the fiscal years ended March 31, 2026, 2025, and 2024 are as follows (in millions):
 Year Ended March 31,
 202620252024
Domestic$265 $447 $437 
Foreign915 1,158 1,152 
Income before provision for income taxes$1,180 $1,605 $1,589 
Provision For (Benefit From) Income Taxes
Provision for income taxes for the fiscal years ended March 31, 2026, 2025, and 2024 consisted of (in millions):
 CurrentDeferredTotal
Year Ended March 31, 2026
Federal$137 $(29)$108 
State20 (7)13 
Foreign146 26 172 
$303 $(10)$293 
Year Ended March 31, 2025
Federal$369 $(136)$233 
State53 (28)25 
Foreign102 124 226 
$524 $(40)$484 
Year Ended March 31, 2024
Federal$138 $85 $223 
State20 9 29 
Foreign76 (12)64 
$234 $82 $316 
Schedule Of Differences Between Statutory Tax Rate And Effective Tax Rate
The differences between the statutory tax rate and our effective tax rate for the fiscal year ended March 31, 2026 after the adoption of ASU 2023-09 are as follows:
 Year Ended March 31, 2026
 AmountPercent
Statutory federal tax expense rate$248 21.0 %
State and local income taxes, net of federal benefit 3 0.3 %
Foreign tax effects
Singapore
Nontaxable interest income(76)(6.6)%
Statutory income tax rate differential(18)(1.5)%
Switzerland
Statutory income tax rate differential(19)(1.6)%
Other foreign jurisdictions36 3.1 %
Effect of cross-border tax laws (a)
73 6.2 %
Research and development tax credits(37)(3.1)%
Changes in unrecognized tax benefits (b)
77 6.5 %
Other adjustments (c)
6 0.5 %
Effective tax rate$293 24.8 %
(a) Effect of cross-border tax laws are presented on a net basis, primarily related to global intangible low-taxed income.
(b) Changes in unrecognized tax benefits are presented on an aggregated basis for all jurisdictions.
(c) Includes change in valuation allowances, and nontaxable or nondeductible items.

The differences between the statutory tax rate and our effective tax rate, expressed as a percentage of income before provision for income taxes, for the fiscal years ended March 31, 2025, and 2024 prior to the adoption of ASU 2023-09 were as follows:
 Year Ended March 31,
 20252024
Statutory federal tax expense rate21.0 %21.0 %
State taxes, net of federal benefit0.9 %1.1 %
Differences between statutory rate and foreign effective tax rate3.8 %2.9 %
Research and development credits(2.3)%(2.4)%
Swiss valuation allowance3.2 %(0.3)%
Effect of change in enacted tax rate— %(5.8)%
Non-deductible stock-based compensation3.2 %2.8 %
Other0.4 %0.6 %
Effective tax rate30.2 %19.9 %
Schedule of Cash Flow, Supplemental Disclosures ncome taxes paid, net of refunds received, for the fiscal year ended March 31, 2026 were as follows (in millions):
 Year Ended March 31, 2026
U.S. federal$91 
U.S. state and local19 
Foreign
        Canada - British Columbia20 
        Canada - federal15 
        Other56 
Income taxes paid, net of refunds$201 
Deferred Tax Assets And Liabilities
The components of net deferred tax assets, as of March 31, 2026 and 2025 consisted of (in millions):
 As of March 31,
 20262025
Deferred tax assets:
Accruals, reserves and other expenses$239 $227 
Tax credit carryforwards250 235 
Research and development capitalization537 523 
Stock-based compensation42 43 
Amortization and depreciation15 — 
Net operating loss and capital loss carryforwards544 450 
Swiss intra-entity tax asset1,355 1,485 
Total2,982 2,963 
Valuation allowance(544)(534)
Deferred tax assets, net of valuation allowance2,438 2,429 
Deferred tax liabilities:
Amortization and depreciation— (7)
Other(6)(3)
Total(6)(10)
Deferred tax assets, net of valuation allowance and deferred tax liabilities$2,432 $2,419 
Schedule Of Unrecognized Tax Benefits A reconciliation of the beginning and ending balance of unrecognized tax benefits is summarized as follows (in millions):
Balance as of March 31, 2023$867 
Increases in unrecognized tax benefits related to prior year tax positions14 
Decreases in unrecognized tax benefits related to prior year tax positions(173)
Increases in unrecognized tax benefits related to current year tax positions97 
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations(2)
Changes in unrecognized tax benefits due to foreign currency translation1 
Balance as of March 31, 2024804 
Increases in unrecognized tax benefits related to prior year tax positions18 
Decreases in unrecognized tax benefits related to prior year tax positions(214)
Increases in unrecognized tax benefits related to current year tax positions94 
Decreases in unrecognized tax benefits related to settlements with taxing authorities(12)
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations(2)
Balance as of March 31, 2025688 
Increases in unrecognized tax benefits related to prior year tax positions41 
Decreases in unrecognized tax benefits related to prior year tax positions(22)
Increases in unrecognized tax benefits related to current year tax positions63 
Decreases in unrecognized tax benefits related to settlements with taxing authorities(94)
Reductions in unrecognized tax benefits due to lapse of applicable statute of limitations(5)
Changes in unrecognized tax benefits due to foreign currency translation6 
Balance as of March 31, 2026$677