Balance Sheet Components

9 Months Ended

Dec. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Balance Sheet Components

2 - Balance Sheet Components

Certain balance sheet components are as follows:

Prepaid expenses and other current assets consist of:

	As of
(in millions)	December 31, 2025		March 31, 2025
Research and development tax credit receivables	$	97	$	103
Prepayments	183		107
Other receivables	82		46
Total prepaid expenses and other current assets	$	362	$	256

Accrued compensation and benefits consist of:

	As of
(in millions)	December 31, 2025		March 31, 2025
Accrued bonus, commissions, and cash awards	$	17	$	24
Accrued vacation and sabbatical	100		99
Accrued salaries and fringe benefits	3		12
Employee Stock Purchase Plan liability	27		5
Total accrued compensation and benefits	$	147	$	140

Other current liabilities consist of:

	As of
(in millions)	December 31, 2025		March 31, 2025
Employee related payroll taxes and payables (1)	$	138	$	200
Accrued expenses and fees	115		99
Electronic design automation liabilities	80		47
Trade payables (including payables to related parties of $10 and $11 as of December 31, 2025 and March 31, 2025, respectively)	78		63
Customer deposits	7		7
Finance lease liabilities	24		10
Total other current liabilities	$	442	$	426

(1)     Employee related payroll taxes and payables are primarily related to vested restricted share units (“RSUs”) during the three months ended December 31, 2025 and March 31, 2025, respectively, which will be or were, as applicable, paid in the subsequent quarter.

Other non-current liabilities consist of:

	As of
(in millions)	December 31, 2025		March 31, 2025
Electronic design automation liabilities	$	112	$	40
Other non-current liabilities	56		39
Total other non-current liabilities	$	168	$	79