Segment and Geographic Information

12 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Segment and Geographic Information

21 - Segment and Geographic Information

The Company operates as a single operating segment. The Company’s 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, 2025, 2024 and 2023:

	Fiscal Year Ended March 31,
(in millions)	2025			2024			2023
License and Other Revenue	$	1,839		$	1,431		$	1,004
Royalty Revenue	2,168			1,802			1,675
	4,007			3,233			2,679
Less Operating Costs and Expenses:
Staff costs: Salaries, bonuses and benefits	(1,320)			(1,300)			(1,369)
Staff costs: Share-based compensation cost (equity settled)	(820)			(1,037)			(60)
Staff costs: Employer taxes related to SBC	(224)			(176)			—
Non-staff costs:
Project materials costs, third-party fees paid to consultants, information technology, R&D expenses (excluding employee-related expense), accounting and legal professional services fees, advertising expenses, and other corporate-related expenses	(634)			(367)			(360)
Amortization	(87)			(86)			(93)
Depreciation	(96)			(76)			(77)
Other non-staff costs	5			(80)			(49)
Operating income (loss)	831			111			671
Operating margin	21		%	3		%	25		%
Income (loss) from equity investments, net	(237)			(20)			(45)
Interest income, net	116			110			42
Other non-operating income (loss), net	10			11			3
Income (loss) from continuing operations before income taxes	720			212			671
Income tax benefit (expense)	72			94			(147)
Net income (loss)	$	792		$	306		$	524

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, 2025		March 31, 2024
United Kingdom	$	444	$	287
United States	197		90
Other countries	73		43
Total	$	714	$	420