v3.26.3
Income Taxes
6 Months Ended
Sep. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
Income tax expense and the effective income tax rate were as follows:
Three Months Ended September 30,
Six Months Ended September 30,
2026
2025
2026
2025
Income tax expense
$90,316
$74,204
$129,394
$118,067
Effective income tax rate
22.4%
21.7%
22.6%
22.5%
The tax provisions during the three and six months ended September 30, 2026, and 2025, were computed using the
estimated effective income tax rate applicable to each of the domestic and foreign taxable jurisdictions for the fiscal
year ending March 31, 2027 (current fiscal year), and prior fiscal year, respectively, and were adjusted for discrete
items that occurred within the periods presented above.
During the current period, the net changes in the effective income tax rate, compared to the prior period, were
primarily due to non-recurring discrete tax benefits for adjustments to income taxes payable from the prior period.
For the three months ended September 30, 2026, the change also reflected reductions in excess tax benefits for
stock-based compensation, while for the six months ended September 30, 2026, the discrete tax benefits were
offset by non-recurring discrete tax expenses related to changes in unrecognized tax benefits.