Segment Information

9 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Information

15 - Segment 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 CODM does not review segment asset information to evaluate performance or allocate resources.

The following table presents selected financial information with respect to the Company's single operating segment for the three and nine months ended December 31, 2025 and 2024:

	Three Months Ended December 31,						Nine Months Ended December 31,
(in millions)	2025			2024			2025			2024
License and Other Revenue	$	505		$	403		$	1,488		$	1,205
Royalty Revenue	737			580			1,942			1,561
	1,242			983			3,430			2,766
Less Operating Costs and Expenses:
Staff costs: Salaries, bonuses and benefits	(424)			(331)			(1,222)			(962)
Staff costs: Share-based compensation cost (equity settled)	(285)			(227)			(791)			(627)
Staff costs: Employer taxes related to share-based compensation	(30)			(38)			(128)			(171)
Non-staff costs:
Project materials costs, third-party fees paid to consultants, information technology, research and development expenses (excluding employee-related expense), accounting and legal professional services fees, advertising expenses, and other corporate-related expenses	(250)			(164)			(645)			(457)
Amortization	(25)			(21)			(73)			(65)
Depreciation	(38)			(26)			(106)			(68)
Other non-staff costs	(5)			(1)			(3)			5
Operating income (loss)	185			175			462			421
Operating margin	15		%	18		%	13		%	15		%
Income (loss) from equity investments, net	6			39			(6)			53
Interest income, net	29			28			83			89
Other non-operating income (loss), net	8			26			137			13
Income (loss) from continuing operations before income taxes	228			268			676			576
Income tax benefit (expense)	(5)			(16)			(85)			6
Net income (loss)	$	223		$	252		$	591		$	582