Income Taxes (Tables)

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

Loss before income taxes and the income tax (expense) benefit include the following (in thousands):

	Fiscal Year Ended March 31,
	2020			2019			2018
Domestic	$	(245,177	)	$	(163,385	)	$	(64,391	)
Foreign	26,644			23,474			12,616
Total	$	(218,533	)	$	(139,911	)	$	(51,775	)

Schedule of Income Tax Provision/(Benefit)

The income tax provision includes the following (in thousands):

	Fiscal Year Ended March 31,
	2020			2019			2018
Income tax expense (benefit)
Federal	$	198,307		$	3,213		$	(393	)
State	47,992			575			1,198
Foreign	12,468			5,920			11,638
Total current tax position	258,767			9,708			12,443
Federal	(50,086		)	(29,021		)	(72,336		)
State	(5,839		)	(5,464		)	(990		)
Foreign	(3,351		)	1,060			(114		)
Total deferred tax provision	(59,276		)	(33,425		)	(73,440		)
Total income tax expense (benefit)	$	199,491		$	(23,717	)	$	(60,997	)

Schedule of Tax Rate Reconciliation

The tax rate reconciliation is as follows (in thousands):

	Fiscal Year Ended March 31,
	2020			2019			2018
Income tax (benefit) at U.S. federal statutory income tax rate	$	(45,892	)	$	(29,381	)	$	(16,309	)
State and local tax expense	(3,100		)	(4,890		)	208
Foreign tax rate differential	3,521			2,051			3,619
Branch income	1,601			1,824			384
Non-deductible expenses	35,874			11,807			8,645
Tax credits	(35,354		)	(13,233		)	(6,173		)
Sharing of consolidated tax attributes	—			—			(8,890		)
Foreign derived intangibles deduction	(3,901		)	(1,790		)	—
Tax associated with reorganization	251,819			—			—
Changes in tax law	—			—			(50,033		)
Changes in valuation allowance	(9,682		)	6,087			5,133
Foreign withholding tax	4,231			3,086			2,701
Other adjustments	374			722			(282		)
Total income tax expense (benefit)	$	199,491		$	(23,717	)	$	(60,997	)

Schedule of Deferred Tax Assets and Liabilities

Temporary differences and carryforwards that give rise to a significant portion of deferred tax assets and liabilities are as follows (in thousands):

	March 31,
	2020			2019
Deferred revenue	$	27,681		$	4,752
Capitalized research and development costs	11,140			—
Accrued expenses	6,625			5,983
Share-based compensation	16,660			4,776
Fixed assets	279			447
Net operating loss carryforwards	4,046			4,470
Other tax carryforwards, primarily foreign tax credits	14,603			32,630
Other	2,823			1,183
Total deferred tax assets before valuation allowance	83,857			54,241
Less: valuation allowance	(21,996		)	(31,678		)
Net deferred tax assets	61,861			22,563
Intangible assets	40,270			51,531
Capitalized research and development costs	—			822
State taxes	251			6,090
Other	880			1,040
Total deferred tax liabilities	41,401			59,483
Net deferred tax assets (liabilities)	$	20,460		$	(36,920	)
Long-term deferred tax assets	20,460			10,678
Long-term deferred tax liabilities	—			(47,598		)
Net deferred tax assets (liabilities)	$	20,460		$	(36,920	)

Schedule of Net Operating Loss Carryforwards

At March 31, 2020 and 2019, the Company had net operating losses (tax-effected) and tax credit carryforwards for income tax purposes before valuation allowance of $18.6 million, and $37.1 million, respectively, that expire in the tax years as follows (in thousands):

	Fiscal Year Ended March 31,
	2020		2019		Expiration
Non-U.S. net operating losses	$	3,726	$	4,301	Indefinite
Non-U.S. net operating losses	159		169		2021 - 2026
U.S. federal and state tax carryforwards	161		2,657		Indefinite
U.S. federal and state tax carryforwards, primarily foreign tax credits	14,603		29,973		2026 - 2027
Total carryforwards	$	18,649	$	37,100

Schedule of Reconciliation of Unrecognized Tax Benefits

The following is a tabular reconciliation of the total amounts of unrecognized tax benefits for the years ended March 31, 2020, 2019, and 2018 (in thousands):

	Fiscal Year Ended March 31,
	2020			2019			2018
Gross unrecognized tax benefit, beginning of year	$	9,653		$	9,143		$	8,770
Gross increases to tax positions for prior periods	438			20			257
Gross decreases to tax positions for prior periods	(6,210		)	(70		)	(482		)
Gross increases to tax positions for current period	13,543			560			598
Gross unrecognized tax benefit, end of year	$	17,424		$	9,653		$	9,143