v3.26.1
Segment and Geographic Information
 12 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment and Geographic Information
21 - Segment and Geographic Information
The Company operates as a single operating segment. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer, who reviews financial information presented on a consolidated basis. The CODM regularly reviews income and expense items at the consolidated company (reporting segment) level and uses both operating income and net income to evaluate income generated to conclude whether and how to reinvest profits into the entity’s operations, shareholder return, acquisitions or otherwise. Both operating income and net income are also used to monitor budget versus actual results, forecasted information and in competitive analysis.
The following table presents selected financial information with respect to the Company's single operating segment for the fiscal years ended March 31, 2026, 2025 and 2024:
Fiscal Year Ended March 31,
(in millions)202620252024
License and Other Revenue$2,307 $1,839 $1,431 
Royalty Revenue 2,613 2,168 1,802 
4,920 4,007 3,233 
Less Operating Costs and Expenses:
Staff costs: Salaries, bonuses and benefits(1,674)(1,320)(1,300)
Staff costs: Share-based compensation cost (equity settled) (1,052)(820)(1,037)
Staff costs: Employer taxes related to share-based compensation(160)(224)(176)
Non-staff costs:
Project materials costs, third-party fees paid to consultants, information technology, research and development expenses (excluding employee-related expenses), accounting and legal professional services fees, advertising expenses, and other corporate-related expenses(881)(634)(367)
Amortization(100)(87)(86)
Depreciation(150)(96)(76)
Other non-staff costs(3)5 (80)
Operating income (loss)900 831 111 
Operating margin18 %21 %3 %
Income (loss) from equity investments, net14 (237)(20)
Interest income, net111 116 110 
Other non-operating income (loss), net 132 10 11 
Income (loss) from continuing operations before income taxes1,157 720 212 
Income tax benefit (expense) (253)72 94 
Net income (loss)$904 $792 $306 
Refer to Note 4 - Revenue for revenue by geographic region.
Long-lived assets by geographic area are as follows:
As of
(in millions)March 31, 2026March 31, 2025
United Kingdom$628 $444 
United States438 197 
Other countries 154 73 
Total $1,220 $714