Revenue (Tables)

6 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

A summary of the Company’s disaggregated revenue is as follows:

	Three Months Ended September 30,
	External Customers				Related Parties				Total
(in millions, except percentages)	2023		2022		2023		2022		2023		2022
License and Other Revenue (1)	$	294	$	95	$	94	$	93	$	388	$	188
Royalty Revenue	350		374		68		68		418		442
	$	644	$	469	$	162	$	161	$	806	$	630

(1)    Includes over-time revenue of $30 million and $24 million and point-in-time revenue of $358 million and $164 million for the three months ended September 30, 2023 and 2022, respectively.

	Six Months Ended September 30,
	External Customers				Related Parties				Total
(in millions, except percentages)	2023		2022		2023		2022		2023		2022
License and Other Revenue (2)	$	474	$	242	$	189	$	204	$	663	$	446
Royalty Revenue	705		751		113		125		818		876
	$	1,179	$	993	$	302	$	329	$	1,481	$	1,322

(2)    Includes over-time revenue of $47 million and $48 million and point-in-time revenue of $616 million and $398 million for the six months ended September 30, 2023 and 2022, respectively.

Revenue from External Customers by Geographic Areas

The following table summarizes information pertaining to revenue from customers based on the principal headquarter address by geographic regions:

	Three Months Ended September 30,				Six Months Ended September 30,
(in millions)	2023		2022		2023		2022
United States	$	331	$	243	$	623	$	508
PRC (1)	178		162		319		330
Taiwan	166		97		281		197
Republic of Korea	62		53		107		114
Other countries	69		75		151		173
Total	$	806	$	630	$	1,481	$	1,322

(1)    “PRC” means the People’s Republic of China, including the Hong Kong Special Administrative Region and the Macau Special Administrative Region, but excluding Taiwan.

Schedule of Accounts Receivable

A summary of the components of accounts receivable, net is as follows:

(in millions)	As of September 30, 2023		As of March 31, 2023
Trade receivables	$	486	$	625
Royalty receivables	381		377
Total gross receivables	867		1,002
Allowance for current expected credit losses	(3)		(3)
Total accounts receivables, net	$	864	$	999

Schedule of Accounts Receivable, Allowance for Credit Loss

A summary of the movement in the allowance for current expected credit losses is as follows:

(in millions)	Total
Balance as of March 31, 2023	$	3
Additional provision	—
Amounts written off during the period as uncollectible	—
Balance as of September 30, 2023	$	3

Reconciliation of Contract Liabilities

A reconciliation of the movement in contract liabilities is as follows:

(in millions)	Total
Current Contract Liabilities	$	293
Non- Current Contract Liabilities	807
Balance as of March 31, 2023	$	1,100
Customer prepayment and billing in advance of performance	117
Revenue recognized in the period that was included in the contract liability balance at the beginning of the period	(116)
Revenue recognized in the period that was included in the contract liability balance during the period	(73)
Balance as of September 30, 2023	$	1,028
Current portion of contract liabilities	$	288
Non-current portion of contract liabilities	$	740