Stock-Based Compensation, Employee Benefit Plans, and Stock Repurchase Program (Tables)

12 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule Of Assumptions Used In The Black-Scholes Valuation Model

The estimated assumptions used in the Black-Scholes valuation model to value our ESPP purchase rights were as follows:


	ESPP Purchase Rights
	Year Ended March 31,
	2026	2025		2024
Risk-free interest rate	4.1 - 4.2%	4.2 - 5.0%		5.0% - 5.5%
Expected volatility	27 - 28%	21 - 30%		19 - 24%
Weighted-average volatility	28%	28%		23%
Expected term	6 - 12 months	6 - 12 months		6 - 12 months
Expected dividends	0.4%	0.7	%	0.8	%

Schedule Of Assumptions Used In Monte-Carlo Simulation Model

The assumptions used in the Monte-Carlo simulation model to value our market-based restricted stock units were as follows:



	Year Ended March 31,
	2026	2025		2024
Risk-free interest rate	3.9%	4.5	%	4.4%
Expected volatility	24 - 43%	23 - 43%		25 - 59%
Weighted-average volatility	30%	31%		39%
Expected dividends	None	None		None

Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award

The following table summarizes our stock option activity for the fiscal year ended March 31, 2026:


	Options (in thousands)	Weighted- Average Exercise Prices		Weighted- Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in millions)
Outstanding as of March 31, 2025	6	$	63.51

Granted	2	164.39
Exercised	(5)	98.74
Forfeited, cancelled or expired	—	—
Outstanding as of March 31, 2026	3	$	57.19	2.00	$	0.4
Vested	3	$	57.19	2.00	$	0.4
Exercisable as of March 31, 2026	3	$	57.19	2.00	$	0.4

The following table summarizes our restricted stock units activity, excluding performance-based and market-based restricted stock unit activity which is discussed below, for the fiscal year ended March 31, 2026:


	Restricted Stock Units (in thousands)	Weighted- Average Grant Date Fair Values
Outstanding as of March 31, 2025	7,549	$	133.90

Granted	3,864	154.23
Vested	(4,339)	133.74
Forfeited or cancelled	(633)	139.84
Outstanding as of March 31, 2026	6,441	$	145.62

The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the fiscal year ended March 31, 2026:


	Performance- Based Restricted Stock Units (in thousands)	Weighted- Average Grant Date Fair Value
Outstanding as of March 31, 2025	1,004	$	134.60
Granted	813	151.10
Vested	(266)	150.23
Forfeited or cancelled	(493)	138.10
Outstanding as of March 31, 2026	1,058	$	141.72

The following table summarizes our market-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the year ended March 31, 2026:


	Market-Based Restricted Stock Units (in thousands)	Weighted- Average Grant Date Fair Value
Outstanding as of March 31, 2025	637	$	115.43
Granted	367	103.73
Vested	(34)	150.48
Forfeited or cancelled	(80)	176.70
Outstanding as of March 31, 2026	890	$	103.80

Schedule of Share-based Compensation, Employee Stock Purchase Plan, Activity

The following table summarizes our ESPP activity for fiscal years ended March 31, 2026, 2025, and 2024:


	Shares Issued (in millions)	Exercise Prices for Purchase Rights	Weighted-Average Fair Values of Purchase Rights
Fiscal Year 2024	0.8	$94.96 - $102.58	$	30.82
Fiscal Year 2025	0.7	$102.58 - $120.94	$	34.07
Fiscal Year 2026	0.8	$109.10 - $143.79	$	32.74

Schedule Of Stock-Based Compensation Expense By Statement Of Operations

The following table summarizes stock-based compensation expense resulting from stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and the ESPP purchase rights included in our Consolidated Statements of Operations (in millions):


	Year Ended March 31,
	2026		2025		2024
Cost of revenue	$	11	$	14	$	8
Research and development	467		457		418
Marketing and sales	57		56		52
General and administrative	121		115		106
Stock-based compensation expense	$	656	$	642	$	584

Shares Repurchased and Retired

The following table summarizes total shares repurchased during fiscal years 2026, 2025, and 2024:


	August 2022 Program		May 2024 Program			Total
(In millions)		Shares	Amount(a)		Shares	Amount(a)		Shares	Amount
Fiscal Year 2024		10.0	$	1,300	—	$	—	10.0	$	1,300
Fiscal Year 2025		1.2	$	152	16.4	2,348		17.6	$	2,500
Fiscal Year 2026		—	$	—	5.3	$	750	5.3	$	750
(a)Amount excludes excise taxes. Accrued excise taxes are included in accounts payable, accrued, and other current liabilities and additional paid-in capital on the Consolidated Balance Sheets.