þ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
¨ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
Delaware | 94-2838567 |
(State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |
209 Redwood Shores Parkway Redwood City, California | 94065 |
(Address of principal executive offices) | (Zip Code) |
Large accelerated filer | þ | Accelerated filer | ¨ |
Non-accelerated filer | ¨ | Smaller reporting company | ¨ |
Emerging growth company | ¨ |
Page | ||
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Item 3. | ||
Item 4. | ||
Item 1. | ||
Item 1A. | ||
Item 2. | ||
Item 3. | ||
Item 4. | ||
Item 6. | ||
Item 1. | Condensed Consolidated Financial Statements (Unaudited) |
(Unaudited) (In millions, except par value data) | September 30, 2018 | March 31, 2018 (a) | |||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 2,881 | $ | 4,258 | |||
Short-term investments | 1,664 | 1,073 | |||||
Receivables, net of allowances of $10 and $165, respectively | 966 | 385 | |||||
Other current assets | 292 | 288 | |||||
Total current assets | 5,803 | 6,004 | |||||
Property and equipment, net | 440 | 453 | |||||
Goodwill | 1,894 | 1,883 | |||||
Acquisition-related intangibles, net | 100 | 71 | |||||
Deferred income taxes, net | 112 | 84 | |||||
Other assets | 101 | 89 | |||||
TOTAL ASSETS | $ | 8,450 | $ | 8,584 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 168 | $ | 48 | |||
Accrued and other current liabilities | 907 | 821 | |||||
Deferred net revenue (online-enabled games) | 574 | 1,622 | |||||
Total current liabilities | 1,649 | 2,491 | |||||
Senior notes, net | 993 | 992 | |||||
Income tax obligations | 273 | 250 | |||||
Deferred income taxes, net | 1 | 1 | |||||
Other liabilities | 217 | 255 | |||||
Total liabilities | 3,133 | 3,989 | |||||
Commitments and contingencies (See Note 13) | |||||||
Stockholders’ equity: | |||||||
Common stock, $0.01 par value. 1,000 shares authorized; 304 and 306 shares issued and outstanding, respectively | 3 | 3 | |||||
Additional paid-in capital | 134 | 657 | |||||
Retained earnings | 5,199 | 4,062 | |||||
Accumulated other comprehensive loss | (19 | ) | (127 | ) | |||
Total stockholders’ equity | 5,317 | 4,595 | |||||
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | 8,450 | $ | 8,584 |
(Unaudited) | Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||
(In millions, except per share data) | 2018 | 2017 | 2018 | 2017 | |||||||||||
Net revenue: | |||||||||||||||
Product | $ | 623 | $ | 454 | $ | 825 | $ | 1,282 | |||||||
Service and other | 663 | 505 | 1,598 | 1,126 | |||||||||||
Total net revenue | 1,286 | 959 | 2,423 | 2,408 | |||||||||||
Cost of revenue: | |||||||||||||||
Product | 222 | 300 | 290 | 364 | |||||||||||
Service and other | 196 | 89 | 343 | 179 | |||||||||||
Total cost of revenue | 418 | 389 | 633 | 543 | |||||||||||
Gross profit | 868 | 570 | 1,790 | 1,865 | |||||||||||
Operating expenses: | |||||||||||||||
Research and development | 339 | 331 | 701 | 656 | |||||||||||
Marketing and sales | 146 | 160 | 286 | 281 | |||||||||||
General and administrative | 117 | 118 | 231 | 223 | |||||||||||
Acquisition-related contingent consideration | 2 | — | 2 | — | |||||||||||
Amortization of intangibles | 6 | 2 | 12 | 3 | |||||||||||
Total operating expenses | 610 | 611 | 1,232 | 1,163 | |||||||||||
Operating income (loss) | 258 | (41 | ) | 558 | 702 | ||||||||||
Interest and other income (expense), net | 18 | 3 | 37 | 9 | |||||||||||
Income (loss) before provision for (benefit from) income taxes | 276 | (38 | ) | 595 | 711 | ||||||||||
Provision for (benefit from) income taxes | 21 | (16 | ) | 47 | 89 | ||||||||||
Net income (loss) | $ | 255 | $ | (22 | ) | $ | 548 | $ | 622 | ||||||
Earnings (loss) per share: | |||||||||||||||
Basic | $ | 0.84 | $ | (0.07 | ) | $ | 1.80 | $ | 2.01 | ||||||
Diluted | $ | 0.83 | $ | (0.07 | ) | $ | 1.77 | $ | 1.99 | ||||||
Number of shares used in computation: | |||||||||||||||
Basic | 305 | 309 | 305 | 309 | |||||||||||
Diluted | 307 | 309 | 309 | 313 |
(Unaudited) | Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||
(In millions) | 2018 | 2017 | 2018 | 2017 | |||||||||||
Net income (loss) | $ | 255 | $ | (22 | ) | $ | 548 | $ | 622 | ||||||
Other comprehensive income (loss), net of tax: | |||||||||||||||
Net gains on available-for-sale securities | 1 | — | 1 | — | |||||||||||
Net gains (losses) on derivative instruments | 3 | (34 | ) | 96 | (90 | ) | |||||||||
Foreign currency translation adjustments | 3 | 32 | (12 | ) | 36 | ||||||||||
Total other comprehensive income (loss), net of tax | 7 | (2 | ) | 85 | (54 | ) | |||||||||
Total comprehensive income (loss) | $ | 262 | $ | (24 | ) | $ | 633 | $ | 568 |
(Unaudited) | Six Months Ended September 30, | ||||||
(In millions) | 2018 | 2017 | |||||
OPERATING ACTIVITIES | |||||||
Net income | $ | 548 | $ | 622 | |||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||||
Depreciation, amortization and accretion | 74 | 63 | |||||
Stock-based compensation | 136 | 110 | |||||
Change in assets and liabilities: | |||||||
Receivables, net | (422 | ) | (454 | ) | |||
Other assets | 20 | 66 | |||||
Accounts payable | 132 | 104 | |||||
Accrued and other liabilities | (25 | ) | 100 | ||||
Deferred income taxes, net | (94 | ) | 40 | ||||
Deferred net revenue (online-enabled games) | (375 | ) | (423 | ) | |||
Net cash provided by (used in) operating activities | (6 | ) | 228 | ||||
INVESTING ACTIVITIES | |||||||
Capital expenditures | (63 | ) | (63 | ) | |||
Proceeds from maturities and sales of short-term investments | 446 | 1,050 | |||||
Purchase of short-term investments | (1,029 | ) | (1,395 | ) | |||
Acquisition, net of cash acquired | (58 | ) | — | ||||
Net cash used in investing activities | (704 | ) | (408 | ) | |||
FINANCING ACTIVITIES | |||||||
Proceeds from issuance of common stock | 36 | 57 | |||||
Cash paid to taxing authorities for shares withheld from employees | (96 | ) | (105 | ) | |||
Repurchase and retirement of common stock | (599 | ) | (303 | ) | |||
Net cash used in financing activities | (659 | ) | (351 | ) | |||
Effect of foreign exchange on cash and cash equivalents | (8 | ) | 33 | ||||
Decrease in cash and cash equivalents | (1,377 | ) | (498 | ) | |||
Beginning cash and cash equivalents | 4,258 | 2,565 | |||||
Ending cash and cash equivalents | $ | 2,881 | $ | 2,067 | |||
Supplemental cash flow information: | |||||||
Cash paid during the period for income taxes, net | $ | 78 | $ | 28 | |||
Cash paid during the period for interest | 21 | 21 |
BALANCE SHEETS (In millions) | Balance at March 31, 2018 | Adjustments due to New Revenue Standard Adoption | Balance at April 1, 2018 | ||||||||
Assets | |||||||||||
Receivables, net | $ | 385 | $ | 158 | $ | 543 | |||||
Deferred income taxes, net | 84 | (64 | ) | 20 | |||||||
Liabilities | |||||||||||
Accrued and other current liabilities | |||||||||||
Sales return and price protection reserves | $ | — | $ | 158 | $ | 158 | |||||
Deferred net revenue (other) | 108 | (3 | ) | 105 | |||||||
Deferred net revenue (online-enabled games) | 1,622 | (673 | ) | 949 | |||||||
Stockholders’ Equity | |||||||||||
Retained earnings | $ | 4,062 | $ | 590 | $ | 4,652 | |||||
Accumulated other comprehensive income (loss) | (127 | ) | 22 | (105 | ) |
• | The accounting for our transactions as multiple elements or “bundled” arrangements. Under prior software revenue recognition accounting standards, because we did not have vendor-specific objective evidence of fair value (“VSOE”) for unspecified future updates or online hosting, we were not able to account for performance obligations separately, and therefore, the entire sales price of most transactions that had multiple performance obligations was recognized ratably over the period we expected to provide the future updates and/or online hosting performance obligations (the “Estimated Offering Period”). Under the New Revenue Standard, this VSOE requirement was eliminated and was replaced with a requirement for us to determine our best estimate of the stand-alone selling price of each performance obligation and allocate the transaction price to each distinct performance obligation on a relative stand-alone selling price basis. Therefore, we are now able to account for performance obligations separately. |
• | Mobile platform fees. The adoption of the New Revenue Standard also changed how we present mobile platform fees after March 31, 2018. Previously, mobile platform fees retained by third-party application storefronts such as the Apple App Store and Google Play, were reported on a net basis (i.e. as a reduction of net revenue) because we previously determined that generally, the third party was considered the primary obligor. Upon adoption of the New Revenue Standard, we concluded that we are the principal in the transactions, resulting in mobile platform fees now being reported within cost of revenue rather than as a reduction of net revenue. We recognized $64 million of mobile platform fees at April 1, 2018 as an increase to our deferred revenue balances. Mobile platform fees for the three and six months ended September 30, 2018 were $44 million and $93 million, respectively, and accordingly increased both |
• | Increased portion of our sales from games with services are presented as service revenue. The amount of the transaction price allocated to future update rights and the online hosting performance obligations are presented as service revenue under the New Revenue Standard (previously, revenue associated with future update rights were generally presented as product revenue). Therefore, for the three and six months ended September 30, 2018, approximately $102 million and $288 million, respectively, of revenue for future update rights are now presented as service revenue under the New Revenue Standard as compared to product revenue under the Old Revenue Standard. |
• | Sales returns and price protection reserves. Upon adoption, our sales returns and price protection reserves are now presented within accrued and other liabilities (previously, these allowances were presented as contra-assets within receivables on our Condensed Consolidated Balance Sheets). We reclassified $158 million of sales returns and price protection reserves on April 1, 2018. |
As of September 30, 2018 | |||||||||||
BALANCE SHEETS (In millions) | Under New Revenue Standard | Under Old Revenue Standard | $ Change | ||||||||
Assets | |||||||||||
Receivables, net | $ | 966 | $ | 858 | $ | 108 | |||||
Other current assets | 292 | 288 | 4 | ||||||||
Deferred income taxes, net | 112 | 151 | (39 | ) | |||||||
Other assets | 101 | 89 | 12 | ||||||||
Liabilities | |||||||||||
Accrued and other current liabilities | |||||||||||
Sales return and price protection reserves | $ | 108 | $ | — | $ | 108 | |||||
Deferred net revenue (other) | 113 | 157 | (44 | ) | |||||||
Deferred net revenue (online-enabled games) | 574 | 1,120 | (546 | ) | |||||||
Other liabilities | 217 | 218 | (1 | ) | |||||||
Stockholders’ Equity | |||||||||||
Retained earnings | $ | 5,199 | $ | 4,625 | $ | 574 | |||||
Accumulated other comprehensive loss | (19 | ) | (13 | ) | (6 | ) |
Three Months Ended September 30, 2018 | ||||||||||||||
(In millions, except per share data) | Under New Revenue Standard | Under Old Revenue Standard | $ Change | % Change | ||||||||||
Net revenue: | ||||||||||||||
Product | $ | 623 | $ | 437 | $ | 186 | 43 | % | ||||||
Service and other | 663 | 517 | 146 | 28 | % | |||||||||
Total net revenue | 1,286 | 954 | 332 | 35 | % | |||||||||
Cost of revenue: | ||||||||||||||
Product | 222 | 280 | (58 | ) | (21 | )% | ||||||||
Service and other | 196 | 94 | 102 | 109 | % | |||||||||
Total cost of revenue | 418 | 374 | 44 | 12 | % | |||||||||
Gross profit | 868 | 580 | 288 | 50 | % | |||||||||
Operating expenses: | ||||||||||||||
Total operating expenses | 610 | 610 | — | — | % | |||||||||
Operating income (loss) | 258 | (30 | ) | 288 | (960 | )% | ||||||||
Interest and other income (expense), net | 18 | 18 | — | — | % | |||||||||
Income (loss) before provision for income taxes | 276 | (12 | ) | 288 | (2,400 | )% | ||||||||
Provision for income taxes | 21 | 7 | 14 | 200 | % | |||||||||
Net income (loss) | $ | 255 | $ | (19 | ) | $ | 274 | (1,442 | )% | |||||
Earnings (loss) per share: | ||||||||||||||
Basic | $ | 0.84 | $ | (0.06 | ) | $ | 0.90 | (1,500 | )% | |||||
Diluted | $ | 0.83 | $ | (0.06 | ) | $ | 0.89 | (1,483 | )% |
Six Months Ended September 30, 2018 | ||||||||||||||
(In millions, except per share data) | Under New Revenue Standard | Under Old Revenue Standard | $ Change | % Change | ||||||||||
Net revenue: | ||||||||||||||
Product | $ | 825 | $ | 1,153 | $ | (328 | ) | (28 | )% | |||||
Service and other | 1,598 | 1,217 | 381 | 31 | % | |||||||||
Total net revenue | 2,423 | 2,370 | 53 | 2 | % | |||||||||
Cost of revenue: | ||||||||||||||
Product | 290 | 358 | (68 | ) | (19 | )% | ||||||||
Service and other | 343 | 182 | 161 | 88 | % | |||||||||
Total cost of revenue | 633 | 540 | 93 | 17 | % | |||||||||
Gross profit | 1,790 | 1,830 | (40 | ) | (2 | )% | ||||||||
Operating expenses: | ||||||||||||||
Total operating expenses | 1,232 | 1,232 | — | — | % | |||||||||
Operating income | 558 | 598 | (40 | ) | (7 | )% | ||||||||
Interest and other income (expense), net | 37 | 37 | — | — | % | |||||||||
Income before provision for income taxes | 595 | 635 | (40 | ) | (6 | )% | ||||||||
Provision for income taxes | 47 | 71 | (24 | ) | (34 | )% | ||||||||
Net income | $ | 548 | $ | 564 | $ | (16 | ) | (3 | )% | |||||
Earnings per share: | ||||||||||||||
Basic | $ | 1.80 | $ | 1.85 | $ | (0.05 | ) | (3 | )% | |||||
Diluted | $ | 1.77 | $ | 1.83 | $ | (0.06 | ) | (3 | )% |
• | See Note 2 — Summary of Significant Accounting Policies, for our updated revenue accounting policy, including significant judgments, under ASC 606. For a discussion of our revenue recognition policy as it relates to revenue transactions accounted for prior to April 1, 2018, which were accounted for under ASC 605, refer to our Annual Report on Form 10-K for the fiscal year ended March 31, 2018. |
• | See Note 10 — Balance Sheet Details, for a discussion on our contract liabilities (“deferred net revenue”) and our remaining performance obligations. We had an immaterial amount of contract assets as of April 1, 2018 and September 30, 2018. |
• | See Note 16 — Segment Information, for our disaggregations of revenue. |
• | full games with both online and offline functionality (“Games with Services”), which generally includes (1) the initial game delivered digitally or via physical disc at the time of sale and typically provide access to offline core game content (“software license”); (2) updates on a when-and-if-available basis, such as software patches or updates, and/or additional free content to be delivered in the future (“future update rights”); and (3) a hosted connection for online playability (“online hosting”); |
• | full games with online-only functionality which require an Internet connection to access all gameplay and functionality (“Online-Hosted Service Games”); |
• | extra content related to Games with Services and Online-Hosted Service Games which provides access to additional in-game content; |
• | subscriptions, such as Origin Access and EA Access, that generally offers access to a selection of full games, in-game content, online services and other benefits typically for a recurring monthly or annual fee; and |
• | licensing our games to third parties to distribute and host our games. |
• | identifying the contract(s) with the customer; |
• | identifying the performance obligations in the contract; |
• | determining the transaction price; |
• | allocating the transaction price to performance obligations in the contract; and |
• | recognizing revenue as each performance obligation is satisfied through the transfer of a promised good or service to a customer (i.e., “transfer of control”). |
• | the underlying contract terms and conditions between the various parties to the transaction; |
• | which party is primarily responsible for fulfilling the promise to provide the specified good or service to the end customer; |
• | which party has inventory risk before the specified good or service has been transferred to the end customer; and |
• | which party has discretion in establishing the price for the specified good or service. |
• | Level 1. Quoted prices in active markets for identical assets or liabilities. |
• | Level 2. Observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated with observable market data for substantially the full term of the assets or liabilities. |
• | Level 3. Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. |
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in Active Markets for Identical Financial Instruments | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||
As of September 30, 2018 | (Level 1) | (Level 2) | (Level 3) | Balance Sheet Classification | |||||||||||||
Assets | |||||||||||||||||
Bank and time deposits | $ | 24 | $ | 24 | $ | — | $ | — | Cash equivalents | ||||||||
Money market funds | 1,138 | 1,138 | — | — | Cash equivalents | ||||||||||||
Available-for-sale securities: | |||||||||||||||||
Corporate bonds | 762 | 762 | — | Short-term investments and cash equivalents | |||||||||||||
U.S. Treasury securities | 281 | 281 | — | — | Short-term investments and cash equivalents | ||||||||||||
U.S. agency securities | 73 | — | 73 | — | Short-term investments | ||||||||||||
Commercial paper | 392 | — | 392 | — | Short-term investments and cash equivalents | ||||||||||||
Foreign government securities | 79 | — | 79 | — | Short-term investments | ||||||||||||
Asset-backed securities | 121 | — | 121 | — | Short-term investments | ||||||||||||
Certificates of deposit | 21 | — | 21 | — | Short-term investments | ||||||||||||
Foreign currency derivatives | 49 | — | 49 | — | Other current assets and other assets | ||||||||||||
Deferred compensation plan assets (a) | 12 | 12 | — | — | Other assets | ||||||||||||
Total assets at fair value | $ | 2,952 | $ | 1,455 | $ | 1,497 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Contingent consideration (b) | $ | 124 | $ | — | $ | — | $ | 124 | Accrued and other current liabilities and other liabilities | ||||||||
Foreign currency derivatives | 10 | — | 10 | — | Accrued and other current liabilities and other liabilities | ||||||||||||
Deferred compensation plan liabilities (a) | 12 | 12 | — | — | Other liabilities | ||||||||||||
Total liabilities at fair value | $ | 146 | $ | 12 | $ | 10 | $ | 124 |
Fair Value Measurements Using Significant Unobservable Inputs (Level 3) | |||||||||||
Contingent Consideration | |||||||||||
Balance as of March 31, 2018 | $ | 122 | |||||||||
Additions | — | ||||||||||
Change in fair value (c) | 2 | ||||||||||
Balance as of September 30, 2018 | $ | 124 |
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in Active Markets for Identical Financial Instruments | Significant Other Observable Inputs | Significant Unobservable Inputs | |||||||||||||||
As of March 31, 2018 | (Level 1) | (Level 2) | (Level 3) | Balance Sheet Classification | |||||||||||||
Assets | |||||||||||||||||
Bank and time deposits | $ | 286 | $ | 286 | $ | — | $ | — | Cash equivalents | ||||||||
Money market funds | 1,876 | 1,876 | — | — | Cash equivalents | ||||||||||||
Available-for-sale securities: | |||||||||||||||||
Corporate bonds | 624 | — | 624 | — | Short-term investments | ||||||||||||
U.S. Treasury securities | 210 | 210 | — | — | Short-term investments | ||||||||||||
U.S. agency securities | 78 | — | 78 | — | Short-term investments | ||||||||||||
Commercial paper | 150 | — | 150 | — | Short-term investments and cash equivalents | ||||||||||||
Foreign government securities | 52 | — | 52 | — | Short-term investments | ||||||||||||
Certificates of Deposit | 2 | — | 2 | — | Cash equivalents | ||||||||||||
Foreign currency derivatives | 4 | — | 4 | — | Other current assets and other assets | ||||||||||||
Deferred compensation plan assets (a) | 10 | 10 | — | — | Other assets | ||||||||||||
Total assets at fair value | $ | 3,292 | $ | 2,382 | $ | 910 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Contingent consideration (b) | $ | 122 | $ | — | $ | — | $ | 122 | Other liabilities | ||||||||
Foreign currency derivatives | 56 | — | 56 | — | Accrued and other current liabilities and other liabilities | ||||||||||||
Deferred compensation plan liabilities (a) | 11 | 11 | — | — | Other liabilities | ||||||||||||
Total liabilities at fair value | $ | 189 | $ | 11 | $ | 56 | $ | 122 |
(a) | The Deferred Compensation Plan assets consist of various mutual funds. See Note 14 in our Annual Report on Form 10-K for the fiscal year ended March 31, 2018, for additional information regarding our Deferred Compensation Plan. |
(b) | The contingent consideration represents the estimated fair value of the additional variable cash consideration payable in connection with our acquisition of Respawn Entertainment, LLC (“Respawn”) that is contingent upon the achievement of certain performance milestones. We estimated fair value using a probability-weighted income approach combined with a real options methodology, and applied a discount rate that appropriately captures the risk associated with the obligation. At September 30, 2018, the discount rates used ranged from 3.3 percent to 3.7 percent. At March 31, 2018, the discount rates used ranged from 3.3 percent to 3.6 percent. See Note 6 in our Annual Report on Form 10-K for the fiscal year ended March 31, 2018, for additional information regarding the Respawn acquisition. |
(c) | The change in fair value is reported as acquisition-related contingent consideration in our Condensed Consolidated Statements of Operations. |
As of September 30, 2018 | As of March 31, 2018 | ||||||||||||||||||||||||||||||
Cost or Amortized Cost | Gross Unrealized | Fair Value | Cost or Amortized Cost | Gross Unrealized | Fair Value | ||||||||||||||||||||||||||
Gains | Losses | Gains | Losses | ||||||||||||||||||||||||||||
Corporate bonds | $ | 739 | $ | — | $ | (3 | ) | $ | 736 | $ | 629 | $ | — | $ | (5 | ) | $ | 624 | |||||||||||||
U.S. Treasury securities | 279 | — | (2 | ) | 277 | 212 | — | (2 | ) | 210 | |||||||||||||||||||||
U.S. agency securities | 74 | — | (1 | ) | 73 | 79 | — | (1 | ) | 78 | |||||||||||||||||||||
Commercial paper | 357 | — | — | 357 | 109 | — | — | 109 | |||||||||||||||||||||||
Foreign government securities | 80 | — | (1 | ) | 79 | 53 | — | (1 | ) | 52 | |||||||||||||||||||||
Asset-backed securities | 121 | — | — | 121 | — | — | — | — | |||||||||||||||||||||||
Certificates of deposit | 21 | — | — | 21 | — | — | — | — | |||||||||||||||||||||||
Short-term investments | $ | 1,671 | $ | — | $ | (7 | ) | $ | 1,664 | $ | 1,082 | $ | — | $ | (9 | ) | $ | 1,073 |
As of September 30, 2018 | As of March 31, 2018 | ||||||||||||||
Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||
Short-term investments | |||||||||||||||
Due within 1 year | $ | 1,218 | $ | 1,216 | $ | 521 | $ | 520 | |||||||
Due 1 year through 5 years | 451 | 446 | 561 | 553 | |||||||||||
Due after 5 years | 2 | 2 | — | — | |||||||||||
Short-term investments | $ | 1,671 | $ | 1,664 | $ | 1,082 | $ | 1,073 |
As of September 30, 2018 | As of March 31, 2018 | ||||||||||||||||||||||
Notional Amount | Fair Value | Notional Amount | Fair Value | ||||||||||||||||||||
Asset | Liability | Asset | Liability | ||||||||||||||||||||
Forward contracts to purchase | $ | 236 | $ | 1 | $ | 7 | $ | 329 | $ | 2 | $ | 4 | |||||||||||
Forward contracts to sell | $ | 1,453 | $ | 48 | $ | — | $ | 1,575 | $ | 1 | $ | 48 |
As of September 30, 2018 | As of March 31, 2018 | ||||||||||||||||||||||
Notional Amount | Fair Value | Notional Amount | Fair Value | ||||||||||||||||||||
Asset | Liability | Asset | Liability | ||||||||||||||||||||
Forward contracts to purchase | $ | 233 | $ | — | $ | — | $ | 210 | $ | 1 | $ | 1 | |||||||||||
Forward contracts to sell | $ | 565 | $ | — | $ | 3 | $ | 257 | $ | — | $ | 3 |
Statement of Operations Classification | Amount of Gain (Loss) Recognized in the Statement of Operations | ||||||||||||||||
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||||
Foreign currency forward contracts not designated as hedging instruments | Interest and other income (expense), net | $ | (5 | ) | $ | (3 | ) | $ | 4 | $ | (9 | ) |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | Unrealized Net Gains (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Total | ||||||||||||
Balances as of June 30, 2018 | $ | (8 | ) | $ | 27 | $ | (45 | ) | $ | (26 | ) | ||||
Other comprehensive income (loss) before reclassifications | 1 | 2 | 3 | 6 | |||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 1 | — | 1 | |||||||||||
Total other comprehensive income (loss), net of tax | 1 | 3 | 3 | 7 | |||||||||||
Balances as of September 30, 2018 | $ | (7 | ) | $ | 30 | $ | (42 | ) | $ | (19 | ) |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | Unrealized Net Gains (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Total | ||||||||||||
Balances as of June 30, 2017 | $ | (3 | ) | $ | (24 | ) | $ | (44 | ) | $ | (71 | ) | |||
Other comprehensive income (loss) before reclassifications | — | (29 | ) | 32 | 3 | ||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | (5 | ) | — | (5 | ) | |||||||||
Total other comprehensive income (loss), net of tax | — | (34 | ) | 32 | (2 | ) | |||||||||
Balances as of September 30, 2017 | $ | (3 | ) | $ | (58 | ) | $ | (12 | ) | $ | (73 | ) |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | Unrealized Net Gains (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Total | ||||||||||||
Balances as of March 31, 2018 | $ | (8 | ) | $ | (89 | ) | $ | (30 | ) | $ | (127 | ) | |||
Cumulative-effect adjustment from the adoption of ASC 606 | — | 22 | — | 22 | |||||||||||
Cumulative-effect adjustment from the adoption of ASU 2018-02 | — | 1 | — | 1 | |||||||||||
Balances as of April 1, 2018 | (8 | ) | (66 | ) | (30 | ) | (104 | ) | |||||||
Other comprehensive income (loss) before reclassifications | 1 | 80 | (12 | ) | 69 | ||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 16 | — | 16 | |||||||||||
Total other comprehensive income (loss), net of tax | 1 | 96 | (12 | ) | 85 | ||||||||||
Balances as of September 30, 2018 | $ | (7 | ) | $ | 30 | $ | (42 | ) | $ | (19 | ) |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | Unrealized Net Gains (Losses) on Derivative Instruments | Foreign Currency Translation Adjustments | Total | ||||||||||||
Balances as of March 31, 2017 | $ | (3 | ) | $ | 32 | $ | (48 | ) | $ | (19 | ) | ||||
Other comprehensive income (loss) before reclassifications | — | (68 | ) | 46 | (22 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | (22 | ) | (10 | ) | (32 | ) | ||||||||
Total other comprehensive income (loss), net of tax | — | (90 | ) | 36 | (54 | ) | |||||||||
Balances as of September 30, 2017 | $ | (3 | ) | $ | (58 | ) | $ | (12 | ) | $ | (73 | ) |
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | ||||||||
Statement of Operations Classification | Three Months Ended September 30, 2018 | Six Months Ended September 30, 2018 | ||||||
(Gains) losses on cash flow hedges from forward contracts | ||||||||
Net revenue | $ | (2 | ) | $ | 12 | |||
Research and development | 3 | 4 | ||||||
Total net (gain) loss reclassified, net of tax | $ | 1 | $ | 16 |
Amount Reclassified From Accumulated Other Comprehensive Income (Loss) | ||||||||
Statement of Operations Classification | Three Months Ended September 30, 2017 | Six Months Ended September 30, 2017 | ||||||
(Gains) losses on cash flow hedges from forward contracts | ||||||||
Net revenue | $ | (3 | ) | $ | (22 | ) | ||
Research and development | (2 | ) | — | |||||
Total, net of tax | $ | (5 | ) | $ | (22 | ) | ||
(Gains) losses on foreign currency translation | ||||||||
Interest and other income (expense), net | $ | — | $ | (10 | ) | |||
Total, net of tax | $ | — | $ | (10 | ) | |||
Total net (gain) loss reclassified, net of tax | $ | (5 | ) | $ | (32 | ) |
As of March 31, 2018 | Activity | Effects of Foreign Currency Translation | As of September 30, 2018 | ||||||||||||
Goodwill | $ | 2,251 | $ | 14 | $ | (3 | ) | $ | 2,262 | ||||||
Accumulated impairment | (368 | ) | — | — | (368 | ) | |||||||||
Total | $ | 1,883 | $ | 14 | $ | (3 | ) | $ | 1,894 |
As of September 30, 2018 | As of March 31, 2018 | ||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Acquisition- Related Intangibles, Net | Gross Carrying Amount | Accumulated Amortization | Acquisition- Related Intangibles, Net | ||||||||||||||||||
Developed and core technology | $ | 460 | $ | (420 | ) | $ | 40 | $ | 417 | $ | (414 | ) | $ | 3 | |||||||||
Trade names and trademarks | 161 | (115 | ) | 46 | 161 | (107 | ) | 54 | |||||||||||||||
Registered user base and other intangibles | 5 | (5 | ) | — | 5 | (5 | ) | — | |||||||||||||||
Carrier contracts and related | 85 | (85 | ) | — | 85 | (85 | ) | — | |||||||||||||||
In-process research and development | 14 | — | 14 | 14 | — | 14 | |||||||||||||||||
Total | $ | 725 | $ | (625 | ) | $ | 100 | $ | 682 | $ | (611 | ) | $ | 71 |
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Cost of service and other revenue | $ | — | $ | — | $ | — | $ | — | |||||||
Cost of product revenue | 1 | — | 2 | — | |||||||||||
Operating expenses | 6 | 2 | 12 | 3 | |||||||||||
Total | $ | 7 | $ | 2 | $ | 14 | $ | 3 |
Fiscal Year Ending March 31, | |||
2019 (remaining six months) | $ | 12 | |
2020 | 22 | ||
2021 | 22 | ||
2022 | 22 | ||
2023 | 8 | ||
Thereafter | — | ||
Total | $ | 86 |
As of September 30, 2018 | As of March 31, 2018 | ||||||
Other current assets | $ | 59 | $ | 68 | |||
Other assets | 32 | 34 | |||||
Royalty-related assets | $ | 91 | $ | 102 |
As of September 30, 2018 | As of March 31, 2018 | ||||||
Accrued royalties | $ | 155 | $ | 171 | |||
Other liabilities | 63 | 74 | |||||
Royalty-related liabilities | $ | 218 | $ | 245 |
As of September 30, 2018 | As of March 31, 2018 | ||||||
Computer, equipment and software | $ | 742 | $ | 744 | |||
Buildings | 342 | 336 | |||||
Leasehold improvements | 135 | 139 | |||||
Equipment, furniture and fixtures, and other | 82 | 84 | |||||
Land | 66 | 66 | |||||
Construction in progress | 9 | 7 | |||||
1,376 | 1,376 | ||||||
Less: accumulated depreciation | (936 | ) | (923 | ) | |||
Property and equipment, net | $ | 440 | $ | 453 |
As of September 30, 2018 | As of March 31, 2018 | ||||||
Other accrued expenses | $ | 359 | $ | 260 | |||
Accrued compensation and benefits | 172 | 282 | |||||
Accrued royalties | 155 | 171 | |||||
Sales return and price protection reserves | 108 | — | |||||
Deferred net revenue (other) | 113 | 108 | |||||
Accrued and other current liabilities | $ | 907 | $ | 821 |
As of September 30, 2018 | As of April 1, 2018 (as adjusted) | ||||||
Deferred net revenue (online-enabled games) | $ | 574 | $ | 949 | |||
Deferred net revenue (other) | 113 | 105 | |||||
Deferred net revenue (noncurrent) | 12 | 5 | |||||
Total Deferred net revenue | $ | 699 | $ | 1,059 |
As of September 30, 2018 | As of March 31, 2018 | ||||||
Senior Notes: | |||||||
3.70% Senior Notes due 2021 | $ | 600 | $ | 600 | |||
4.80% Senior Notes due 2026 | 400 | 400 | |||||
Total principal amount | $ | 1,000 | $ | 1,000 | |||
Unaccreted discount | (1 | ) | (2 | ) | |||
Unamortized debt issuance costs | (6 | ) | (6 | ) | |||
Net carrying value of Senior Notes | $ | 993 | $ | 992 | |||
Fair value of Senior Notes (Level 2) | $ | 1,024 | $ | 1,038 |
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Amortization of debt issuance costs | $ | — | $ | — | (1 | ) | (1 | ) | |||||||
Coupon interest expense | (11 | ) | (11 | ) | (21 | ) | (21 | ) | |||||||
Total interest expense | $ | (11 | ) | $ | (11 | ) | $ | (22 | ) | $ | (22 | ) |
Fiscal Years Ending March 31, | |||||||||||||||||||||||||||||||
2019 | |||||||||||||||||||||||||||||||
(Remaining | |||||||||||||||||||||||||||||||
Total | six mos.) | 2020 | 2021 | 2022 | 2023 | 2024 | Thereafter | ||||||||||||||||||||||||
Unrecognized commitments | |||||||||||||||||||||||||||||||
Developer/licensor commitments | $ | 790 | $ | 64 | $ | 229 | $ | 257 | $ | 196 | $ | 43 | $ | 1 | $ | — | |||||||||||||||
Marketing commitments | 303 | 28 | 89 | 85 | 75 | 26 | — | — | |||||||||||||||||||||||
Operating leases | 219 | 18 | 41 | 40 | 33 | 26 | 19 | 42 | |||||||||||||||||||||||
Senior Notes interest | 196 | 18 | 41 | 41 | 19 | 20 | 19 | 38 | |||||||||||||||||||||||
Other purchase obligations | 90 | 15 | 32 | 15 | 9 | 6 | 3 | 10 | |||||||||||||||||||||||
Total unrecognized commitments | 1,598 | 143 | 432 | 438 | 332 | 121 | 42 | 90 | |||||||||||||||||||||||
Recognized commitments | |||||||||||||||||||||||||||||||
Senior Notes principal and interest | 1,003 | 3 | — | 600 | — | — | — | 400 | |||||||||||||||||||||||
Transition Tax | 25 | 1 | — | — | — | 3 | 5 | 16 | |||||||||||||||||||||||
Licensing and lease obligations | 90 | 12 | 25 | 26 | 27 | — | — | — | |||||||||||||||||||||||
Total recognized commitments | 1,118 | 16 | 25 | 626 | 27 | 3 | 5 | 416 | |||||||||||||||||||||||
Total commitments | $ | 2,716 | $ | 159 | $ | 457 | $ | 1,064 | $ | 359 | $ | 124 | $ | 47 | $ | 506 |
• | Restricted Stock Units and Performance-Based Restricted Stock Units. The fair value of restricted stock units and performance-based restricted stock units (other than market-based restricted stock units) is determined based on the quoted market price of our common stock on the date of grant. |
• | Market-Based Restricted Stock Units. Market-based restricted stock units consist of grants of performance-based restricted stock units to certain members of executive management that vest contingent upon the achievement of pre-determined market and service conditions (referred to herein as “market-based restricted stock units”). The fair value of our market-based restricted stock units is estimated using a Monte-Carlo simulation model. Key assumptions for the Monte-Carlo simulation model are the risk-free interest rate, expected volatility, expected dividends and correlation coefficient. |
• | Stock Options and Employee Stock Purchase Plan. The fair value of stock options and stock purchase rights granted pursuant to our equity incentive plans and our 2000 Employee Stock Purchase Plan, as amended (“ESPP”), respectively, is estimated using the Black-Scholes valuation model based on the multiple-award valuation method. Key assumptions of the Black-Scholes valuation model are the risk-free interest rate, expected volatility, expected term and expected dividends. The risk-free interest rate is based on U.S. Treasury yields in effect at the time of grant for the expected term of the option. Expected volatility is based on a combination of historical stock price volatility and implied volatility of publicly-traded options on our common stock. An expected term is estimated based on historical exercise behavior, post-vesting termination patterns, options outstanding and future expected exercise behavior. |
ESPP Purchase Rights | |||||
Three Months Ended September 30, | |||||
2018 | 2017 | ||||
Risk-free interest rate | 2.2 - 2.5% | 1.1 - 1.2% | |||
Expected volatility | 29 | % | 28 | % | |
Weighted-average volatility | 29 | % | 28 | % | |
Expected term | 6 - 12 months | 6 - 12 months | |||
Expected dividends | None | None |
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Cost of revenue | $ | 1 | $ | 1 | $ | 2 | $ | 2 | |||||||
Research and development | 39 | 36 | 86 | 64 | |||||||||||
Marketing and sales | 9 | 9 | 16 | 16 | |||||||||||
General and administrative | 17 | 16 | 32 | 28 | |||||||||||
Stock-based compensation expense | $ | 66 | $ | 62 | $ | 136 | $ | 110 |
Options (in thousands) | Weighted- Average Exercise Prices | Weighted- Average Remaining Contractual Term (in years) | Aggregate Intrinsic Value (in millions) | ||||||||||
Outstanding as of March 31, 2018 | 1,615 | $ | 30.28 | ||||||||||
Granted | 2 | 123.80 | |||||||||||
Exercised | (184 | ) | 31.48 | ||||||||||
Outstanding as of September 30, 2018 | 1,433 | $ | 30.28 | 5.10 | $ | 129 | |||||||
Vested and expected to vest | 1,433 | $ | 30.28 | 5.10 | $ | 129 | |||||||
Exercisable as of September 30, 2018 | 1,433 | $ | 30.28 | 5.10 | $ | 129 |
Restricted Stock Rights (in thousands) | Weighted- Average Grant Date Fair Values | ||||||
Outstanding as of March 31, 2018 | 5,948 | $ | 94.57 | ||||
Granted | 1,626 | 140.68 | |||||
Vested | (1,757 | ) | 81.71 | ||||
Forfeited or cancelled | (359 | ) | 108.16 | ||||
Outstanding as of September 30, 2018 | 5,458 | $ | 111.55 |
Performance- Based Restricted Stock Units (in thousands) | Weighted- Average Grant Date Fair Value | |||||
Outstanding as of March 31, 2018 | 796 | $ | 110.51 | |||
Granted | — | — | ||||
Forfeited or cancelled | (217 | ) | 110.51 | |||
Outstanding as of September 30, 2018 | 579 | $ | 110.51 |
Market-Based Restricted Stock Units (in thousands) | Weighted- Average Grant Date Fair Value | ||||||
Outstanding as of March 31, 2018 | 1,342 | $ | 118.35 | ||||
Granted | 573 | 185.24 | |||||
Vested | (415 | ) | 98.48 | ||||
Forfeited or cancelled | (525 | ) | 135.76 | ||||
Outstanding as of September 30, 2018 | 975 | $ | 156.76 |
May 2015 Program | May 2017 Program | May 2018 Program | Total | |||||||||||||||||||||||
(in millions) | Shares | Amount | Shares | Amount | Shares | Amount | Shares | Amount | ||||||||||||||||||
Three months ended September 30, 2018 | — | $ | — | — | $ | — | 2.3 | $ | 299 | 2.3 | $ | 299 | ||||||||||||||
Six months ended September 30, 2018 | — | $ | — | 0.6 | $ | 76 | 4.0 | $ | 523 | 4.6 | $ | 599 | ||||||||||||||
Three months ended September 30, 2017 | — | $ | — | 1.3 | $ | 153 | — | $ | — | 1.3 | $ | 153 | ||||||||||||||
Six months ended September 30, 2017 | 0.3 | $ | 31 | 2.4 | $ | 272 | — | $ | — | 2.7 | $ | 303 |
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
(In millions, except per share amounts) | 2018 | 2017 | 2018 | 2017 | |||||||||||
Net income (loss) | $ | 255 | $ | (22 | ) | $ | 548 | $ | 622 | ||||||
Shares used to compute earnings (loss) per share: | |||||||||||||||
Weighted-average common stock outstanding — basic | 305 | 309 | 305 | 309 | |||||||||||
Dilutive potential common shares related to stock award plans and from assumed exercise of stock options | 2 | — | 4 | 4 | |||||||||||
Weighted-average common stock outstanding — diluted | 307 | 309 | 309 | 313 | |||||||||||
Earnings (loss) per share: | |||||||||||||||
Basic | $ | 0.84 | $ | (0.07 | ) | $ | 1.80 | $ | 2.01 | ||||||
Diluted | $ | 0.83 | $ | (0.07 | ) | $ | 1.77 | $ | 1.99 |
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Net revenue by composition | |||||||||||||||
Full game downloads | $ | 148 | $ | 123 | $ | 264 | $ | 332 | |||||||
Live services | 412 | 408 | 1,022 | 909 | |||||||||||
Mobile | 220 | 158 | 451 | 327 | |||||||||||
Total Digital | 780 | 689 | 1,737 | 1,568 | |||||||||||
Packaged goods and other | 506 | 270 | 686 | 840 | |||||||||||
Net revenue | $ | 1,286 | $ | 959 | $ | 2,423 | $ | 2,408 |
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
2018 | 2017 | 2018 | 2017 | ||||||||||||
Platform net revenue | |||||||||||||||
Console | $ | 917 | $ | 595 | $ | 1,622 | $ | 1,629 | |||||||
PC / Browser | 149 | 196 | 346 | 436 | |||||||||||
Mobile | 220 | 162 | 453 | 333 | |||||||||||
Other | — | 6 | 2 | 10 | |||||||||||
Net revenue | $ | 1,286 | $ | 959 | $ | 2,423 | $ | 2,408 |
Three Months Ended September 30, | Six Months Ended September 30, | |||||||||||||||
2018 | 2017 | 2018 | 2017 | |||||||||||||
Net revenue from unaffiliated customers | ||||||||||||||||
North America | $ | 475 | $ | 427 | $ | 917 | $ | 1,038 | ||||||||
International | 811 | 532 | 1,506 | 1,370 | ||||||||||||
Net revenue | $ | 1,286 | $ | 959 | $ | 2,423 | $ | 2,408 |
Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
• | Total net revenue was $1,286 million, up 34 percent year-over-year. Under the Old Revenue Standard, total net revenue would have been $954 million, down 1 percent year-over-year. |
• | Digital net revenue was $780 million, up 13 percent year-over-year. Under the Old Revenue Standard, digital net revenue would have been $699 million, up 1 percent year-over-year. |
• | Gross margin was 67.5 percent, up 8.1 percentage points year-over-year. Under the Old Revenue Standard, gross margin would have been 60.8 percent, up 1.4 percentage points year-over-year. |
• | Operating expenses were $610 million, down less than 1 percent year-over-year. |
• | Net income was $255 million with diluted earnings per share of $0.83. Under the Old Revenue Standard, net loss would have been $19 million with diluted loss per share of $0.06. |
• | Total cash, cash equivalents and short-term investments were $4,545 million. |
Three Months Ended September 30, | Six Months Ended September 30, | ||||||||||||||
(In millions) | 2018 | 2017 | 2018 | 2017 | |||||||||||
Total net revenue | $ | 1,286 | $ | 959 | $ | 2,423 | $ | 2,408 | |||||||
Change in deferred net revenue (online-enabled games) | (20 | ) | 220 | (359 | ) | (454 | ) | ||||||||
Mobile platform fees | $ | (44 | ) | — | $ | (93 | ) | — | |||||||
Net bookings | $ | 1,222 | $ | 1,179 | $ | 1,971 | $ | 1,954 |
• | full games with both online and offline functionality (“Games with Services”), which generally includes (1) the initial game delivered digitally or via physical disc at the time of sale and typically provide access to offline core game content (“software license”); (2) updates on a when-and-if-available basis, such as software patches or updates, and/or additional free content to be delivered in the future (“future update rights”); and (3) a hosted connection for online playability (“online hosting”); |
• | full games with online-only functionality which require an Internet connection to access all gameplay and functionality (“Online-Hosted Service Games”); |
• | extra content related to Games with Services and Online-Hosted Service Games which provides access to additional in-game content; |
• | subscriptions, such as Origin Access and EA Access, that generally offers access to a selection of full games, in-game content, online services and other benefits typically for a recurring monthly or annual fee; and |
• | licensing our games to third parties to distribute and host our games. |
• | identifying the contract(s) with the customer; |
• | identifying the performance obligations in the contract; |
• | determining the transaction price; |
• | allocating the transaction price to performance obligations in the contract; and |
• | recognizing revenue as each performance obligation is satisfied through the transfer of a promised good or service to a customer (i.e., “transfer of control”). |
• | the underlying contract terms and conditions between the various parties to the transaction; |
• | which party is primarily responsible for fulfilling the promise to provide the specified good or service to the end customer; |
• | which party has inventory risk before the specified good or service has been transferred to the end customer; and |
• | which party has discretion in establishing the price for the specified good or service. |
Three Months Ended September 30, | |||||||||||||||||||||||
Changes due to: | |||||||||||||||||||||||
2018 | 2017 | Total Change | ASC 606 Adoption | Mobile Platform Fees under ASC 606 | Operational | ||||||||||||||||||
Net revenue: | |||||||||||||||||||||||
Product | $ | 623 | $ | 454 | $ | 169 | $ | 186 | $ | — | $ | (17 | ) | ||||||||||
Service and other | 663 | 505 | 158 | 102 | 44 | 12 | |||||||||||||||||
Total net revenue | $ | 1,286 | $ | 959 | $ | 327 | $ | 288 | $ | 44 | $ | (5 | ) |
Three Months Ended September 30, | |||||||||||||||||||||||
Changes due to: | |||||||||||||||||||||||
2018 | 2017 | Total Change | ASC 606 Adoption | Mobile Platform Fees under ASC 606 | Operational | ||||||||||||||||||
Net revenue: | |||||||||||||||||||||||
Full game downloads | $ | 148 | $ | 123 | $ | 25 | $ | 32 | $ | — | $ | (7 | ) | ||||||||||
Live services | 412 | 408 | 4 | (22 | ) | — | 26 | ||||||||||||||||
Mobile | 220 | 158 | 62 | 27 | 44 | (9 | ) | ||||||||||||||||
Total Digital | $ | 780 | $ | 689 | $ | 91 | $ | 37 | $ | 44 | $ | 10 | |||||||||||
Packaged goods and other | $ | 506 | $ | 270 | $ | 236 | $ | 251 | $ | — | $ | (15 | ) | ||||||||||
Total net revenue | $ | 1,286 | $ | 959 | $ | 327 | $ | 288 | $ | 44 | $ | (5 | ) |
Six Months Ended September 30, | |||||||||||||||||||||||
Changes due to: | |||||||||||||||||||||||
2018 | 2017 | Total Change | ASC 606 Adoption | Mobile Platform Fees under ASC 606 | Operational | ||||||||||||||||||
Net revenue: | |||||||||||||||||||||||
Product | $ | 825 | $ | 1,282 | $ | (457 | ) | $ | (328 | ) | $ | — | $ | (129 | ) | ||||||||
Service and other | 1,598 | 1,126 | 472 | 288 | 93 | 91 | |||||||||||||||||
Total net revenue | $ | 2,423 | $ | 2,408 | $ | 15 | $ | (40 | ) | $ | 93 | $ | (38 | ) |
Six Months Ended September 30, | |||||||||||||||||||||||
Changes due to: | |||||||||||||||||||||||
2018 | 2017 | Total Change | ASC 606 Adoption | Mobile Platform Fees under ASC 606 | Operational | ||||||||||||||||||
Net revenue: | |||||||||||||||||||||||
Full game downloads | $ | 264 | $ | 332 | $ | (68 | ) | $ | (28 | ) | $ | — | $ | (40 | ) | ||||||||
Live services | 1,022 | 909 | 113 | 5 | — | 108 | |||||||||||||||||
Mobile | 451 | 327 | 124 | 37 | 93 | (6 | ) | ||||||||||||||||
Total Digital | $ | 1,737 | $ | 1,568 | $ | 169 | $ | 14 | $ | 93 | $ | 62 | |||||||||||
Packaged goods and other | $ | 686 | $ | 840 | $ | (154 | ) | $ | (54 | ) | $ | — | $ | (100 | ) | ||||||||
Total net revenue | $ | 2,423 | $ | 2,408 | $ | 15 | $ | (40 | ) | $ | 93 | $ | (38 | ) |
Three Months Ended September 30, | |||||||||||||||||||||||
Changes due to: | |||||||||||||||||||||||
2018 | 2017 | Total Change | ASC 606 Adoption | Mobile Platform Fees under ASC 606 | Operational | ||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||
Product | $ | 222 | $ | 300 | (78 | ) | $ | (58 | ) | $ | — | $ | (20 | ) | |||||||||
Service and other | 196 | 89 | 107 | 58 | 44 | 5 | |||||||||||||||||
Total cost of revenue | $ | 418 | $ | 389 | $ | 29 | $ | — | $ | 44 | $ | (15 | ) |
Six Months Ended September 30, | |||||||||||||||||||||||
Changes due to: | |||||||||||||||||||||||
2018 | 2017 | Total Change | ASC 606 Adoption | Mobile Platform Fees under ASC 606 | Operational | ||||||||||||||||||
Cost of revenue: | |||||||||||||||||||||||
Product | $ | 290 | $ | 364 | $ | (74 | ) | $ | (68 | ) | $ | — | $ | (6 | ) | ||||||||
Service and other | 343 | 179 | 164 | 68 | 93 | 3 | |||||||||||||||||
Total cost of revenue | $ | 633 | $ | 543 | $ | 90 | $ | — | $ | 93 | $ | (3 | ) |
September 30, 2018 | % of Net Revenue | September 30, 2017 | % of Net Revenue | $ Change | % Change | |||||||||||||||
Three months ended | $ | 339 | 26 | % | $ | 331 | 35 | % | $ | 8 | 2 | % | ||||||||
Six months ended | $ | 701 | 29 | % | $ | 656 | 27 | % | $ | 45 | 7 | % |
September 30, 2018 | % of Net Revenue | September 30, 2017 | % of Net Revenue | $ Change | % Change | |||||||||||||||
Three months ended | $ | 146 | 11 | % | $ | 160 | 17 | % | $ | (14 | ) | (9 | )% | |||||||
Six months ended | $ | 286 | 12 | % | $ | 281 | 12 | % | $ | 5 | 2 | % |
September 30, 2018 | % of Net Revenue | September 30, 2017 | % of Net Revenue | $ Change | % Change | |||||||||||||||
Three months ended | $ | 117 | 9 | % | $ | 118 | 12 | % | $ | (1 | ) | (1 | )% | |||||||
Six months ended | $ | 231 | 10 | % | $ | 223 | 9 | % | $ | 8 | 4 | % |
September 30, 2018 | % of Net Revenue | September 30, 2017 | % of Net Revenue | $ Change | % Change | ||||||||||||||
Three months ended | $ | 18 | 1 | % | $ | 3 | 0.3 | % | 15 | 500 | % | ||||||||
Six months ended | $ | 37 | 2 | % | $ | 9 | 0.4 | % | 28 | 311 | % |
September 30, 2018 | Effective Tax Rate | September 30, 2017 | Effective Tax Rate | ||||||||||
Three Months Ended | $ | 21 | 7.6 | % | $ | (16 | ) | 42.1 | % | ||||
Six Months Ended | $ | 47 | 7.9 | % | $ | 89 | 12.5 | % |
(In millions) | As of September 30, 2018 | As of March 31, 2018 | Increase/(Decrease) | ||||||||
Cash and cash equivalents | $ | 2,881 | $ | 4,258 | $ | (1,377 | ) | ||||
Short-term investments | 1,664 | 1,073 | 591 | ||||||||
Total | $ | 4,545 | $ | 5,331 | $ | (786 | ) | ||||
Percentage of total assets | 54 | % | 62 | % |
Six Months Ended September 30, | |||||||||||
(In millions) | 2018 | 2017 | Change | ||||||||
Net cash provided by (used in) operating activities | $ | (6 | ) | $ | 228 | $ | (234 | ) | |||
Net cash used in investing activities | (704 | ) | (408 | ) | (296 | ) | |||||
Net cash used in financing activities | (659 | ) | (351 | ) | (308 | ) | |||||
Effect of foreign exchange on cash and cash equivalents | (8 | ) | 33 | (41 | ) | ||||||
Net decrease in cash and cash equivalents | $ | (1,377 | ) | $ | (498 | ) | $ | (879 | ) |
(In millions) | Valuation of Securities Given an Interest Rate Decrease of X Basis Points | Fair Value as of September 30, 2018 | Valuation of Securities Given an Interest Rate Increase of X Basis Points | ||||||||||||||||||||||||
(150 BPS) | (100 BPS) | (50 BPS) | 50 BPS | 100 BPS | 150 BPS | ||||||||||||||||||||||
Corporate bonds | $ | 744 | $ | 741 | $ | 738 | $ | 736 | $ | 731 | $ | 728 | $ | 725 | |||||||||||||
U.S. Treasury securities | 280 | 279 | 278 | 277 | 276 | 275 | 274 | ||||||||||||||||||||
U.S. agency securities | 74 | 74 | 73 | 73 | 72 | 72 | 72 | ||||||||||||||||||||
Commercial paper | 359 | 359 | 358 | 357 | 357 | 356 | 355 | ||||||||||||||||||||
Foreign government securities | 81 | 80 | 80 | 79 | 79 | 79 | 78 | ||||||||||||||||||||
Asset-backed securities | 122 | 122 | 121 | 121 | 121 | 120 | 120 | ||||||||||||||||||||
Certificates of deposit | 22 | 21 | 21 | 21 | 21 | 21 | 21 | ||||||||||||||||||||
Total short-term investments | $ | 1,682 | $ | 1,676 | $ | 1,669 | $ | 1,664 | $ | 1,657 | $ | 1,651 | $ | 1,645 |
Item 4. | Controls and Procedures |
Item 1. | Legal Proceedings |
Item 1A. | Risk Factors |
• | Requiring the dedication of a substantial portion of any cash flow from operations to the payment of principal of, and interest on, our indebtedness, thereby reducing the availability of such cash flow to fund our growth strategy, working capital, capital expenditures and other general corporate purposes; |
• | Limiting our flexibility in planning for, or reacting to, changes in our business and our industry; and |
• | Increasing our vulnerability to adverse changes in general economic and industry conditions. |
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |
Fiscal Month | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Programs | Maximum Dollar Value that May Still Be Purchased Under the Programs (in millions) | ||||||||||
July 1, 2018 - July 28, 2018 | 605,297 | $ | 145.08 | 605,297 | $ | 2,089 | ||||||||
July 29, 2018 - August 25, 2018 | 739,502 | $ | 129.55 | 739,502 | $ | 1,993 | ||||||||
August 26, 2018 - September 29, 2018 | 989,512 | $ | 116.69 | 989,512 | $ | 1,877 | ||||||||
2,334,311 | $ | 128.13 | 2,334,311 |
Item 3. | Defaults Upon Senior Securities |
Item 4. | Mine Safety Disclosures |
Item 6. | Exhibits |
Incorporated by Reference | ||||||||||
Number | Exhibit Title | Form | File No. | Filing Date | Filed Herewith | |||||
X | ||||||||||
X | ||||||||||
X | ||||||||||
Additional exhibits furnished with this report: | ||||||||||
X | ||||||||||
X | ||||||||||
101.INS† | XBRL Instance Document | X | ||||||||
101.SCH† | XBRL Taxonomy Extension Schema Document | X | ||||||||
101.CAL† | XBRL Taxonomy Extension Calculation Linkbase Document | X | ||||||||
101.DEF† | XBRL Taxonomy Extension Definition Linkbase Document | X | ||||||||
101.LAB† | XBRL Taxonomy Extension Label Linkbase Document | X | ||||||||
101.PRE† | XBRL Taxonomy Extension Presentation Linkbase Document | X |
* | Management contract or compensatory plan or arrangement |
** | Portions of this exhibit have been redacted pursuant to a confidential treatment request filed with the SEC. |
† | Attached as Exhibit 101 to this Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2018 are the following formatted in eXtensible Business Reporting Language (“XBRL”): (1) Condensed Consolidated Balance Sheets, (2) Condensed Consolidated Statements of Operations, (3) Condensed Consolidated Statements of Comprehensive Income, (4) Condensed Consolidated Statements of Cash Flows, and (5) Notes to Condensed Consolidated Financial Statements. |
ELECTRONIC ARTS INC. | ||
(Registrant) | ||
/s/ Blake Jorgensen | ||
DATED: | Blake Jorgensen | |
November 6, 2018 | Chief Operating Officer and | |
Chief Financial Officer |
1. | I have reviewed this Quarterly Report on Form 10-Q of Electronic Arts Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Dated: November 6, 2018 | By: | /s/ Andrew Wilson | |
Andrew Wilson | |||
Chief Executive Officer |
1. | I have reviewed this Quarterly Report on Form 10-Q of Electronic Arts Inc.; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; |
4. | The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: |
a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
c. | Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
d. | Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and |
5. | The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions): |
a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and |
b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting. |
Dated: November 6, 2018 | By: | /s/ Blake Jorgensen | |
Blake Jorgensen | |||
Chief Operating Officer and | |||
Chief Financial Officer | |||
1. | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Electronic Arts Inc. for the periods presented therein. |
/s/ Andrew Wilson |
Andrew Wilson |
Chief Executive Officer |
Electronic Arts Inc. |
November 6, 2018 |
1. | The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and |
2. | The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Electronic Arts Inc. for the periods presented therein. |
/s/ Blake Jorgensen |
Blake Jorgensen |
Chief Operating Officer and |
Chief Financial Officer |
Electronic Arts Inc. |
November 6, 2018 |
Document And Entity Information - shares |
6 Months Ended | |
---|---|---|
Sep. 30, 2018 |
Nov. 02, 2018 |
|
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | EA | |
Entity Registrant Name | ELECTRONIC ARTS INC. | |
Entity Central Index Key | 0000712515 | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 302,128,696 |
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
---|---|---|
Receivables, allowances | $ 10 | $ 165 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 1,000 | 1,000 |
Common stock, shares issued | 304 | 306 |
Common stock, shares outstanding | 304 | 306 |
Condensed Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Net revenue: | ||||
Net revenue | $ 1,286 | $ 959 | $ 2,423 | $ 2,408 |
Cost of revenue: | ||||
Total cost of revenue | 418 | 389 | 633 | 543 |
Gross profit | 868 | 570 | 1,790 | 1,865 |
Operating expenses: | ||||
Research and development | 339 | 331 | 701 | 656 |
Marketing and sales | 146 | 160 | 286 | 281 |
General and administrative | 117 | 118 | 231 | 223 |
Acquisition-related contingent consideration | 2 | 0 | 2 | 0 |
Amortization of intangibles | 6 | 2 | 12 | 3 |
Total operating expenses | 610 | 611 | 1,232 | 1,163 |
Operating income (loss) | 258 | (41) | 558 | 702 |
Interest and other income (expense), net | 18 | 3 | 37 | 9 |
Income (loss) before provision for (benefit from) income taxes | 276 | (38) | 595 | 711 |
Provision for (benefit from) income taxes | 21 | (16) | 47 | 89 |
Net income (loss) | $ 255 | $ (22) | $ 548 | $ 622 |
Earnings (loss) per share: | ||||
Earnings Per Share, Basic | $ 0.84 | $ (0.07) | $ 1.80 | $ 2.01 |
Earnings Per Share, Diluted | $ 0.83 | $ (0.07) | $ 1.77 | $ 1.99 |
Number of shares used in computation: | ||||
Basic | 305 | 309 | 305 | 309 |
Diluted | 307 | 309 | 309 | 313 |
Product [Member] | ||||
Net revenue: | ||||
Net revenue | $ 623 | $ 454 | $ 825 | $ 1,282 |
Cost of revenue: | ||||
Total cost of revenue | 222 | 300 | 290 | 364 |
Service [Member] | ||||
Net revenue: | ||||
Net revenue | 663 | 505 | 1,598 | 1,126 |
Cost of revenue: | ||||
Total cost of revenue | $ 196 | $ 89 | $ 343 | $ 179 |
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Net income (loss) | $ 255 | $ (22) | $ 548 | $ 622 |
Other comprehensive income (loss), net of tax: | ||||
Net gains on available-for-sale securities | 1 | 0 | 1 | 0 |
Net gains (losses) on derivative instruments | 3 | (34) | 96 | (90) |
Foreign currency translation adjustments | 3 | 32 | (12) | 36 |
Total other comprehensive income (loss), net of tax | 7 | (2) | 85 | (54) |
Total comprehensive income (loss) | $ 262 | $ (24) | $ 633 | $ 568 |
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions |
6 Months Ended | ||||
---|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
||||
OPERATING ACTIVITIES | |||||
Net income | $ 548 | $ 622 | |||
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||||
Depreciation, amortization and accretion | 74 | 63 | |||
Stock-based compensation | 136 | 110 | |||
Change in assets and liabilities: | |||||
Receivables, net | (422) | (454) | |||
Other assets | 20 | 66 | |||
Accounts payable | 132 | 104 | |||
Accrued and other liabilities | (25) | 100 | |||
Deferred income taxes, net | (94) | 40 | |||
Deferred net revenue (online-enabled games) | (375) | (423) | |||
Net cash provided by (used in) operating activities | (6) | 228 | |||
INVESTING ACTIVITIES | |||||
Capital expenditures | (63) | (63) | |||
Proceeds from maturities and sales of short-term investments | 446 | 1,050 | |||
Purchase of short-term investments | (1,029) | (1,395) | |||
Acquisition, net of cash acquired | (58) | 0 | |||
Net cash used in investing activities | (704) | (408) | |||
FINANCING ACTIVITIES | |||||
Proceeds from issuance of common stock | 36 | 57 | |||
Cash paid to taxing authorities for shares withheld from employees | (96) | (105) | |||
Repurchase and retirement of common stock | (599) | (303) | |||
Net cash used in financing activities | (659) | (351) | |||
Effect of foreign exchange on cash and cash equivalents | (8) | 33 | |||
Decrease in cash and cash equivalents | (1,377) | (498) | |||
Beginning cash and cash equivalents | 4,258 | [1] | 2,565 | ||
Ending cash and cash equivalents | 2,881 | 2,067 | |||
Supplemental cash flow information: | |||||
Cash paid during the period for income taxes, net | 78 | 28 | |||
Cash paid during the period for interest | $ 21 | $ 21 | |||
|
Description Of Business And Basis Of Presentation |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Description Of Business And Basis Of Presentation | (1) DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION We are a global leader in digital interactive entertainment, with a mission to inspire the world to play. We develop, market, publish and distribute games, content and services that can be played on a variety of platforms including game consoles, PCs, mobile phones and tablets. In our games and services, we use brands that we either wholly own (such as Battlefield, Mass Effect, Need for Speed, The Sims, Plants v. Zombies and Titanfall) or license from others (such as FIFA, Madden NFL and Star Wars). We develop and publish games and services across diverse genres such as sports, first-person shooter, action, role-playing and simulation. Our fiscal year is reported on a 52- or 53-week period that ends on the Saturday nearest March 31. Our results of operations for the fiscal year ending March 31, 2019 contains 52 weeks and ends on March 30, 2019. Our results of operations for the fiscal year ended March 31, 2018 contained 52 weeks and ended on March 31, 2018. Our results of operations for the three months ended September 30, 2018 and 2017 contained 13 weeks each and ended on September 29, 2018 and September 30, 2017, respectively. Our results of operations for the six months ended September 30, 2018 and 2017 contained 26 weeks each and ended on September 29, 2018 and September 30, 2017, respectively. For simplicity of disclosure, all fiscal periods are referred to as ending on a calendar month end. The Condensed Consolidated Financial Statements are unaudited and reflect all adjustments (consisting only of normal recurring accruals unless otherwise indicated) that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods presented. The preparation of these Condensed Consolidated Financial Statements requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ materially from those estimates. The results of operations for the current interim periods are not necessarily indicative of results to be expected for the current year or any other period. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2018, as filed with the United States Securities and Exchange Commission (“SEC”) on May 23, 2018. Recently Adopted Accounting Standards In May 2014, the FASB issued the Accounting Standards Codification (“ASC”) Topic 606, Revenue From Contracts with Customers (the “New Revenue Standard” or “ASC 606”), which replaced ASC Topic 605, Revenue Recognition (the “Old Revenue Standard” or “ASC 605”), including industry-specific requirements, and provided companies with a single principles-based revenue recognition model for recognizing revenue from contracts with customers. The core principle of the New Revenue Standard is that a company should recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. We adopted the New Revenue Standard on April 1, 2018, the beginning of fiscal year 2019, using the modified retrospective method. We elected to apply the New Revenue Standard only to contracts that were not completed as of the adoption date. The comparative information for periods prior to April 1, 2018 has not been restated and continues to be reported under the accounting standards in effect for those periods. The net cumulative effect adjustment upon adoption resulted in an increase to retained earnings of $590 million, net of tax, and included the impact from the following adjustments to our Condensed Consolidated Balance Sheet at April 1, 2018:
The most significant impacts of the New Revenue Standard were:
For example, for an individual sale of a game with both online and offline functionality, we typically have three distinct performance obligations; (1) the software license; (2) a right to receive future updates; and (3) online hosting. The software license performance obligation represents the game that is delivered digitally or via physical disc at the time of sale and typically provides access to offline core game content. The future update rights performance obligation includes updates on a when-and-if-available basis such as software patches or updates, and/or additional free content to be delivered in the future. The online hosting performance obligation consists of providing the customer with a hosted connection for online playability. Since we do not sell the performance obligations on a stand-alone basis, we consider market conditions and other observable inputs to estimate the stand-alone selling price for each performance obligation. For games with services under the New Revenue Standard, generally 75 percent of the sales price is allocated to the software license performance obligation and recognized at a point in time upon delivery (which is usually at or near the same time as the booking of the transaction), and the remaining 25 percent is allocated to the future update rights and the online hosting performance obligations and recognized ratably over the Estimated Offering Period. For sales prior to April 1, 2018, our deferred revenue balances decreased by $740 million upon adoption of the New Revenue Standard because the software license performance obligation had been delivered in the prior fiscal year.
The adoption of the New Revenue Standard impacted our Condensed Consolidated Balance Sheet as of September 30, 2018 and our Condensed Consolidated Statement of Operations for the three and six months ended September 30, 2018 as follows:
The adoption of the New Revenue Standard accelerated the revenue recognition of prior period game sales into retained earnings, which will result in a one-time increase in cash taxes paid on our Condensed Consolidated Statement of Cash Flows for the fiscal year ending March 31, 2019. Refer to the following sections of our Condensed Consolidated Financial Statements for the additional disclosures required by the New Revenue Standard:
Other Recently Issued Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The FASB issued this standard to increase transparency and comparability among organizations by recognizing right-of-use assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. In July 2018, the FASB issued ASU 2018-11, Targeted Improvements, which provides entities with optional transition relief by allowing entities to use the effective date of the new lease standard as the date of initial application on transition, instead of at the beginning of the earliest comparative period presented. We anticipate adopting this standard using this optional transition method beginning in the first quarter of fiscal year 2020, when the updated guidance is effective for us, and accordingly, we will not adjust prior periods for the effects of the new lease standard. We are evaluating the impact of this new standard on our Condensed Consolidated Financial Statements, but expect it to have a significant impact to our consolidated balance sheet as a result of establishing right-of-use assets and lease liabilities for our operating leases. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This update is intended to make more financial and nonfinancial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. This update is effective for us beginning in the first quarter of fiscal year 2020. Early adoption is permitted. We are currently evaluating the timing of adoption and impact of this new standard on our Condensed Consolidated Financial Statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326). The standard changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. ASU 2016-13 is effective for us beginning in the first quarter of fiscal year 2021. Early adoption is permitted beginning in the first quarter of fiscal year 2020. We are currently evaluating the timing of adoption and impact of this new standard on our Condensed Consolidated Financial Statements and related disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This update changes the fair value measurement disclosure requirements. It summarizes the key provisions including the new, eliminated, and modified disclosure requirements. This update is effective for us beginning in the first quarter of fiscal year 2021. Early adoption is permitted. We are currently evaluating the timing of adoption and impact of this new standard on our Condensed Consolidated Financial Statements and related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). This update requires a customer in a cloud computing service arrangement to follow the internal-use software guidance in order to determine which implementation costs to defer and recognize as an asset. This update is effective for us beginning in the first quarter of fiscal year 2021. Early adoption is permitted. We are currently evaluating the timing of adoption and impact of this new standard on our Condensed Consolidated Financial Statements and related disclosures. |
Summary of Significant Accounting Policies (Notes) |
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Revenue from Contract with Customer [Policy Text Block] | (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As discussed in Note 1 — Description of Business and Basis of Presentation, we adopted the New Revenue Standard on April 1, 2018. Other than adoption of this New Revenue Standard, there were no significant changes to our accounting policies during the six months ended September 30, 2018. Refer to Note 1 — Description of Business and Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year ended March 31, 2018 for a summary of our other significant accounting policies. Revenue Recognition We derive revenue principally from sales of our games, and related extra-content and services that can be played by customers on a variety of platforms which include game consoles, PCs, mobile phones and tablets. Our product and service offerings include, but are not limited to, the following:
Effective April 1, 2018, we evaluate revenue recognition based on the criteria set forth in ASC 606, Revenue from Contracts with Customers. We evaluate and recognize revenue by:
Online-Enabled Games Games with Services. Our sales of Games with Services are evaluated to determine whether the software license, future update rights and the online hosting are distinct and separable. Sales of Games with Services are generally determined to have three distinct performance obligations: software license, future update rights, and the online hosting. Since we do not sell the performance obligations on a stand-alone basis, we consider market conditions and other observable inputs to estimate the stand-alone selling price for each performance obligation. We recognize revenue from these arrangements upon transfer of control for each performance obligation. For the portion of the transaction price allocated to the software license, revenue is recognized when control of the license has been transferred to the customer. For the portion of the transaction price allocated to the future update rights and the online hosting, revenue is recognized as the services are provided. Online-Hosted Service Games. Sales of our Online-Hosted Service Games are determined to have one distinct performance obligation: the online hosting. We recognize revenue from these arrangements as the service is provided. Extra Content. Revenue received from sales of downloadable content are derived primarily from the sale of virtual currencies and digital in-game content to our customers to enhance their gameplay experience. Sales of extra content are accounted for in a manner consistent with the treatment for our Games with Services and Online-Hosted Service Games as discussed above, depending upon whether or not the extra content has offline functionality. Subscriptions Revenue from subscriptions is recognized over the subscription term as the service is provided. Licensing Revenues In certain countries, we utilize third-party licensees to distribute and host our games in accordance with license agreements, for which the licensees typically pay us a fixed minimum guarantee and/or sales-based royalties. These arrangements typically include multiple performance obligations, such as a time-based license of software and future update rights. We recognize as revenue a portion of the minimum guarantee when we transfer control of the license of software (generally upon commercial launch) and the remaining portion ratably over the contractual term in which we provide the licensee with future update rights. Any sales-based royalties are generally recognized as the related sales occur by the licensee. Revenue Classification We classify our revenue as either product revenue or service and other revenue. Generally, performance obligations that are recognized upfront upon transfer of control are classified as product revenue, while performance obligations that are recognized over the Estimated Offering Period or subscription period as the services are provided are classified as service revenue. Product revenue. Our product revenue includes revenue allocated to the software license performance obligation. Product revenue also includes revenue from the licensing of software to third-parties. Service and other revenue. Our service revenue includes revenue allocated to the future update rights and the online hosting performance obligations. This also includes revenue allocated to the future update rights from the licensing of software to third-parties, software that offers an online-only service such as our Ultimate Team game mode, and subscription services. Significant Judgments around Revenue Arrangements Identifying performance obligations. Performance obligations promised in a contract are identified based on the goods and services that will be transferred to the customer that are both capable of being distinct, (i.e., the customer can benefit from the goods or services either on its own or together with other resources that are readily available), and are distinct in the context of the contract (i.e., it is separately identifiable from other goods or services in the contract). To the extent a contract includes multiple promises, we must apply judgment to determine whether those promises are separate and distinct performance obligations. If these criteria are not met, the promises are accounted for as a combined performance obligation. Determining the transaction price. The transaction price is determined based on the consideration that we will be entitled to receive in exchange for transferring our goods and services to the customer. Determining the transaction price often requires significant judgment, based on an assessment of contractual terms and business practices. It further includes review of variable consideration such as discounts, sales returns, price protection, and rebates, which is estimated at the time of the transaction. See below for additional information regarding our sales returns and price protection reserves. In addition, the transaction price does not include an estimate of the variable consideration related to sales-based royalties. Sales-based royalties are recognized as the sales occur. Allocating the transaction price. Allocating the transaction price requires that we determine an estimate of the relative stand-alone selling price for each distinct performance obligation. Determining the relative stand-alone selling price is inherently subjective, especially in situations where we do not sell the performance obligation on a stand-alone basis (which occurs in the majority of our transactions). In those situations, we determine the relative stand-alone selling price based on various observable inputs using all information that is reasonably available. Examples of observable inputs and information include: historical internal pricing data, cost plus margin analyses, third-party external pricing of similar or same products and services such as software licenses and maintenance support within the enterprise software industry. The results of our analysis resulted in a specific percentage of the transaction price being allocated to each performance obligation. Determining the Estimated Offering Period. The offering period is the period in which we offer to provide the future update rights and/or online hosting for the game and related extra content sold. Because the offering period is not an explicitly defined period, we must make an estimate of the offering period for the service related performance obligations (i.e., future update rights and online hosting). Determining the Estimated Offering Period is inherently subjective and is subject to regular revision. Generally, we consider the average period of time customers are online when estimating the offering period. We also consider the estimated period of time between the date a game unit is sold to a reseller and the date the reseller sells the game unit to the customer (i.e., time in channel). Based on these two factors, we then consider the method of distribution. For example, games sold at retail would have a composite offering period equal to the online gameplay period plus time in channel as opposed to digitally-distributed software licenses which are delivered immediately via digital download and therefore, the offering period is estimated to be only the online gameplay period. Additionally, we consider results from prior analyses, known and expected online gameplay trends, as well as disclosed service periods for competitors’ games in determining the Estimated Offering Period for future sales. We believe this provides a reasonable depiction of the transfer of future update rights and online hosting to our customers, as it is the best representation of the time period during which our games are played. We recognize revenue for future update rights and online hosting performance obligations ratably on a straight-line basis over this period as there is a consistent pattern of delivery for these performance obligations. These performance obligations are generally recognized over an estimated nine-month period beginning in the month after shipment for software licenses sold through retail and an estimated six-month period for digitally-distributed software licenses. Deferred Net Revenue Because the majority of our sales transactions include future update rights and online hosting performance obligations, which are subject to a recognition period of generally six to nine months, our deferred net revenue balance is material. This balance increases from period to period by the revenue being deferred for current sales with these service obligations and is reduced by the recognition of revenue from prior sales that were deferred. Generally, revenue is recognized as the services are provided. Principal Agent Considerations We evaluate sales to end customers of our full games and related content via third-party storefronts, including digital storefronts such as Microsoft’s Xbox Store, Sony’s PlayStation Store, Apple App Store, and Google Play Store, in order to determine whether or not we are acting as the principal in the sale to the end customer, which we consider in determining if revenue should be reported gross or net of fees retained by the third-party storefront. An entity is the principal if it controls a good or service before it is transferred to the end customer. Key indicators that we evaluate in determining gross versus net treatment include but are not limited to the following:
Based on an evaluation of the above indicators, except as discussed below, we have determined that generally the third party is considered the principal to end customers for the sale of our full games and related content. We therefore report revenue related to these arrangements net of the fees retained by the storefront. However, for sales arrangements via Apple App Store and Google Play Store, EA is considered the principal to the end customer and thus, we report revenue on a gross basis and mobile platform fees are reported within cost of revenue. Payment Terms Substantially all of our transactions have payment terms, whether customary or on an extended basis, of less than one year; therefore, we generally do not adjust the transaction price for the effects of any potential financing components that may exist. Sales and Value-Added Taxes Revenue is recorded net of taxes assessed by governmental authorities that are imposed at the time of the specific revenue-producing transaction between us and our customer, such as sales and value-added taxes. Sales Returns and Price Protection Reserves Sales returns and price protection are considered variable consideration under ASC 606. We reduce revenue for estimated future returns and price protection which may occur with our distributors and retailers (“channel partners”). Price protection represents our practice to provide our channel partners with a credit allowance to lower their wholesale price on a particular game unit that they have not resold to customers. The amount of the price protection for permanent markdowns is the difference between the old wholesale price and the new reduced wholesale price. Credits are also given for short-term promotions that temporarily reduce the wholesale price. In certain countries we also have a practice for allowing channel partners to return older products in the channel in exchange for a credit allowance. When evaluating the adequacy of sales returns and price protection reserves, we analyze the following: historical credit allowances, current sell-through of our channel partners’ inventory of our products, current trends in retail and the video game industry, changes in customer demand, acceptance of our products, and other related factors. In addition, we monitor the volume of sales to our channel partners and their inventories, as substantial overstocking in the distribution channel could result in high returns or higher price protection in subsequent periods. |
Fair Value Measurements |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | (3) FAIR VALUE MEASUREMENTS There are various valuation techniques used to estimate fair value, the primary one being the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, we consider the principal or most advantageous market in which we would transact and consider assumptions that market participants would use when pricing the asset or liability. We measure certain financial and nonfinancial assets and liabilities at fair value on a recurring and nonrecurring basis. Fair Value Hierarchy The three levels of inputs that may be used to measure fair value are as follows:
Assets and Liabilities Measured at Fair Value on a Recurring Basis As of September 30, 2018 and March 31, 2018, our assets and liabilities that were measured and recorded at fair value on a recurring basis were as follows (in millions):
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Financial Instruments |
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Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments | (4) FINANCIAL INSTRUMENTS Cash and Cash Equivalents As of September 30, 2018 and March 31, 2018, our cash and cash equivalents were $2,881 million and $4,258 million, respectively. Cash equivalents were valued using quoted market prices or other readily available market information. Short-Term Investments Short-term investments consisted of the following as of September 30, 2018 and March 31, 2018 (in millions):
The following table summarizes the amortized cost and fair value of our short-term investments, classified by stated maturity as of September 30, 2018 and March 31, 2018 (in millions):
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Derivative Financial Instruments |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | (5) DERIVATIVE FINANCIAL INSTRUMENTS The assets or liabilities associated with our derivative instruments and hedging activities are recorded at fair value in other current assets/other assets, or accrued and other current liabilities/other liabilities, respectively, on our Condensed Consolidated Balance Sheets. As discussed below, the accounting for gains and losses resulting from changes in fair value depends on the use of the derivative instrument and whether it is designated and qualifies for hedge accounting. We transact business in various foreign currencies and have significant international sales and expenses denominated in foreign currencies, subjecting us to foreign currency risk. We purchase foreign currency forward contracts, generally with maturities of 18 months or less, to reduce the volatility of cash flows primarily related to forecasted revenue and expenses denominated in certain foreign currencies. Our cash flow risks are primarily related to fluctuations in the Euro, British pound sterling, Canadian dollar, Swedish krona, Australian dollar, Chinese yuan and South Korean won. In addition, we utilize foreign currency forward contracts to mitigate foreign currency exchange risk associated with foreign-currency-denominated monetary assets and liabilities, primarily intercompany receivables and payables. The foreign currency forward contracts not designated as hedging instruments generally have a contractual term of approximately three months or less and are transacted near month-end. We do not use foreign currency forward contracts for speculative trading purposes. Cash Flow Hedging Activities Certain of our forward contracts are designated and qualify as cash flow hedges. The effectiveness of the cash flow hedge contracts, including time value, is assessed monthly using regression analysis, as well as other timing and probability criteria. To qualify for hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedges and must be highly effective in offsetting changes to future cash flows on hedged transactions. The derivative assets or liabilities associated with our hedging activities are recorded at fair value in other current assets/other assets, or accrued and other current liabilities/other liabilities, respectively, on our Condensed Consolidated Balance Sheets. The effective portion of gains or losses resulting from changes in the fair value of these hedges is initially reported, net of tax, as a component of accumulated other comprehensive income (loss) in stockholders’ equity. The gross amount of the effective portion of gains or losses resulting from changes in the fair value of these hedges is subsequently reclassified into net revenue or research and development expenses, as appropriate, in the period when the forecasted transaction is recognized in our Condensed Consolidated Statements of Operations. In the event that the gains or losses in accumulated other comprehensive income (loss) are deemed to be ineffective, the ineffective portion of gains or losses resulting from changes in fair value, if any, is reclassified to interest and other income (expense), net, in our Condensed Consolidated Statements of Operations. In the event that the underlying forecasted transactions do not occur, or it becomes remote that they will occur, within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified from accumulated other comprehensive income (loss) to interest and other income (expense), net, in our Condensed Consolidated Statements of Operations. Total gross notional amounts and fair values for currency derivatives with cash flow hedge accounting designation are as follows (in millions):
The net impact of the effective portion of gains and losses from our cash flow hedging activities in our Condensed Consolidated Statements of Operations was a loss of $1 million and a gain of $5 million for the three months ended September 30, 2018 and 2017, respectively. The net impact of the effective portion of gains and losses from our cash flow hedging activities in our Condensed Consolidated Statements of Operations was a loss of $16 million and a gain of $22 million for the six months ended September 30, 2018 and 2017, respectively. The amount excluded from the assessment of hedge effectiveness was a gain of $7 million during the three months ended September 30, 2018 and recognized in interest and other income (expense), net. The amount excluded from the assessment of hedge effectiveness was immaterial for the three months ended September 30, 2017. The amount excluded from the assessment of hedge effectiveness was a gain of $14 million and $5 million during the six months ended September 30, 2018 and 2017, respectively, and recognized in interest and other income (expense), net. Balance Sheet Hedging Activities Our foreign currency forward contracts that are not designated as hedging instruments are accounted for as derivatives whereby the fair value of the contracts are reported as other current assets or accrued and other current liabilities on our Condensed Consolidated Balance Sheets, and gains and losses resulting from changes in the fair value are reported in interest and other income (expense), net, in our Condensed Consolidated Statements of Operations. The gains and losses on these foreign currency forward contracts generally offset the gains and losses in the underlying foreign-currency-denominated monetary assets and liabilities, which are also reported in interest and other income (expense), net, in our Condensed Consolidated Statements of Operations. Total gross notional amounts and fair values for currency derivatives that are not designated as hedging instruments are accounted for as follows (in millions):
The effect of foreign currency forward contracts not designated as hedging instruments in our Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2018 and 2017 was as follows (in millions):
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Accumulated Other Comprehensive Income |
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Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Comprehensive Income (Loss) | (6) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended September 30, 2018 and 2017 are as follows (in millions):
The changes in accumulated other comprehensive income (loss) by component, net of tax, for the six months ended September 30, 2018 and 2017 are as follows (in millions):
The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and six months ended September 30, 2018 were as follows (in millions):
The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and six months ended September 30, 2017 were as follows (in millions):
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Business Combinations |
6 Months Ended |
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Sep. 30, 2018 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | (7) BUSINESS COMBINATIONS GameFly Cloud Gaming On May 3, 2018, we acquired cloud gaming technology assets and personnel from a wholly-owned subsidiary of GameFly, Inc. based in Israel (“GameFly Cloud Gaming”) for total cash consideration of $50 million. The purchase price was allocated to the acquired net tangible and intangible assets based on their estimated fair values as of May 3, 2018, resulting in $43 million allocated to intangible assets, and $7 million allocated to goodwill that consists largely of expected synergies and workforce, substantially all of which is expected to be deductible for tax purposes. Subsequent to the acquisition, we also granted approximately $4 million in long-term equity in the form of restricted stock units to certain employees. The results of operations attributable to the assets and personnel acquired in the GameFly Cloud Gaming acquisition and the fair value of the assets acquired have been included in our Condensed Consolidated Financial Statements since the date of acquisition. Pro forma results of operations have not been presented because the effect of the acquisition was not material to our Condensed Consolidated Statements of Operations. During the three months ended September 30, 2018, we completed one acquisition that was not material to our Condensed Consolidated Financial Statements. During three and six months ended September 30, 2017, there were no acquisitions. |
Goodwill And Acquisition-Related Intangibles, Net |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill And Acquisition-Related Intangibles, Net | (8) GOODWILL AND ACQUISITION-RELATED INTANGIBLES, NET The changes in the carrying amount of goodwill for the six months ended September 30, 2018 are as follows (in millions):
Goodwill represents the excess of the purchase price over the fair value of the underlying acquired net tangible and intangible assets. Acquisition-related intangibles consisted of the following (in millions):
The fair value of acquisition-related intangible assets acquired in the GameFly Cloud Gaming acquisition during the three months ended June 30, 2018 was $43 million, all of which was allocated to developed and core technology, and has a useful life of approximately 4.0 years. Amortization of intangibles for the three and six months ended September 30, 2018 and 2017 are classified in the Condensed Consolidated Statement of Operations as follows (in millions):
Acquisition-related intangible assets are amortized using the straight-line method over the lesser of their estimated useful lives or the agreement terms, ranging from 1 to 9 years. As of September 30, 2018 and March 31, 2018, the weighted-average remaining useful life for acquisition-related intangible assets was approximately 3.9 years and 4.3 years, respectively. As of September 30, 2018, future amortization of finite-lived acquisition-related intangibles that will be recorded in the Condensed Consolidated Statement of Operations is estimated as follows (in millions):
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Royalties And Licenses |
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Royalties And Licenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Royalties And Licenses | (9) ROYALTIES AND LICENSES Our royalty expenses consist of payments to (1) content licensors, (2) independent software developers, and (3) co-publishing and distribution affiliates. License royalties consist of payments made to celebrities, professional sports organizations, movie studios and other organizations for our use of their trademarks, copyrights, personal publicity rights, content and/or other intellectual property. Royalty payments to independent software developers are payments for the development of intellectual property related to our games. Co-publishing and distribution royalties are payments made to third parties for the delivery of products. During the three and six months ended September 30, 2018 and 2017, we did not recognize any material losses or impairment charges on royalty-based commitments, respectively. The current and long-term portions of prepaid royalties and minimum guaranteed royalty-related assets, included in other current assets and other assets, consisted of (in millions):
At any given time, depending on the timing of our payments to our co-publishing and/or distribution affiliates, content licensors, and/or independent software developers, we classify any recognized unpaid royalty amounts due to these parties as accrued liabilities. The current and long-term portions of accrued royalties, included in accrued and other current liabilities and other liabilities, consisted of (in millions):
As of September 30, 2018, we were committed to pay approximately $790 million to content licensors, independent software developers, and co-publishing and/or distribution affiliates, but performance remained with the counterparty (i.e., delivery of the product or content or other factors) and such commitments were therefore not recorded in our Condensed Consolidated Financial Statements. See Note 13 for further information on our developer and licensor commitments. |
Balance Sheet Details |
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Balance Sheet Details | (10) BALANCE SHEET DETAILS Property and Equipment, Net Property and equipment, net, as of September 30, 2018 and March 31, 2018 consisted of (in millions):
During the three and six months ended September 30, 2018 depreciation expense associated with property and equipment was $30 million and $60 million, respectively. During the three and six months ended September 30, 2017 depreciation expense associated with property and equipment was $30 million and $59 million, respectively. Accrued and Other Current Liabilities Accrued and other current liabilities as of September 30, 2018 and March 31, 2018 consisted of (in millions):
Deferred net revenue (other) includes the deferral of subscription revenue, advertising revenue, licensing arrangements, and other revenue for which revenue recognition criteria has not been met. As a result of the adoption of the New Revenue Standard, as of September 30, 2018, our sales returns and price protection reserves are now classified within accrued and other liabilities (previously, these allowances were classified as a contra-asset within receivables on our Condensed Consolidated Balance Sheets). Deferred net revenue Deferred net revenue as of September 30, 2018 and April 1, 2018, as adjusted, consisted of (in millions):
Total deferred net revenue decreased by $360 million, from April 1, 2018, as adjusted, to September 30, 2018. The change was driven by $1,128 million of revenue that was deferred. This was offset by the portion of the net bookings that was deferred and recognized, totaling $1,488 million. Of the $1,488 million, $1,019 million relates to revenue recognized in the six months ended September 30, 2018 that was included in the deferred revenue balance as of April 1, 2018, as adjusted. Remaining Performance Obligations As of September 30, 2018, revenue allocated to remaining performance obligations consists of our deferred revenue balance of $699 million. These balances exclude any estimates for future variable consideration as we have elected the optional exemption to exclude sales-based royalty revenue. We expect to recognize substantially all of these balances as revenue over the next 12 months. |
Income Taxes |
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Income Tax Disclosure [Abstract] | |
Income Taxes | (11) INCOME TAXES The provision for income taxes for the three and six months ended September 30, 2018 is based on our projected annual effective tax rate for fiscal year 2019, adjusted for specific items that are required to be recognized in the period in which they are incurred. Our effective tax rate for the three and six months ended September 30, 2018 was 7.6 percent and 7.9 percent, respectively, as compared to 42.1 percent and 12.5 percent, respectively, for the same period in fiscal year 2018. The effective tax rate for the three and six months ended September 30, 2018 was impacted by the lower U.S. statutory tax rate as a result of the U.S. Tax Cuts and Jobs Act enacted on December 22, 2017 (the “U.S. Tax Act”) and earnings realized in countries that have lower statutory tax rates, partially offset by less excess tax benefits from stock-based compensation recognized in the current period as compared to the same period in fiscal year 2018. When compared to the statutory rate of 21.0 percent, the effective tax rate for the three and six months ended September 30, 2018 was lower due to earnings realized in countries that have lower statutory tax rates and the recognition of excess tax benefits from stock-based compensation. Excluding excess tax benefits, our effective tax rate would have been 9.8 percent and 10.6 percent, respectively, for the three and six months ended September 30, 2018. The U.S. Tax Act significantly revised the U.S. corporate income tax system by, among other things, lowering the U.S. corporate income tax rates to 21.0 percent, generally implementing a territorial tax system and imposing a one-time transition tax on the deemed repatriation of undistributed earnings of foreign subsidiaries (the “Transition Tax”). We recorded a provisional tax expense of $235 million related to the U.S. Tax Act for the fiscal year ended March 31, 2018, $192 million of which relates to the Transition Tax. During the three and six months ended September 30, 2018, we made no material adjustments to these provisional amounts. The final calculation of taxes attributable to the U.S. Tax Act may differ from our estimates, potentially materially, due to, among other things, changes in interpretations of the U.S. Tax Act, our further analysis of the U.S. Tax Act, or any updates or changes to estimates that we have utilized to calculate the transition impacts. Reasonable estimates of the impacts of the U.S. Tax Act are provided in accordance with SAB 118, the SEC guidance that allows for a measurement period of up to one year after the enactment date of the U.S. Tax Act to finalize the recording of the related tax impacts. We expect to complete the accounting under the U.S. Tax Act as soon as practicable, but in no event later than one year from the enactment date of the U.S. Tax Act. The U.S. Tax Act creates new U.S. taxes on foreign earnings. Our provision for income taxes for the three and six months ended September 30, 2018 provisionally does not reflect any deferred tax impacts of the U.S. taxes on foreign earnings. Because of the complexity of the rules regarding the new tax on foreign earnings, we are continuing to evaluate this accounting policy election. We file income tax returns and are subject to income tax examinations in various jurisdictions with respect to fiscal years after 2008. The timing and potential resolution of income tax examinations is highly uncertain. While we continue to measure our uncertain tax positions, the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued. It is reasonably possible that a reduction of up to $16 million of unrecognized tax benefits may occur within the next 12 months, a portion of which would impact our effective tax rate. The actual amount could vary significantly depending on the ultimate timing and nature of any settlements and tax interpretations, including the Altera opinion. |
Financing Arrangement |
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Financing Arrangement | (12) FINANCING ARRANGEMENTS Senior Notes In February 2016, we issued $600 million aggregate principal amount of 3.70% Senior Notes due March 1, 2021 (the “2021 Notes”) and $400 million aggregate principal amount of 4.80% Senior Notes due March 1, 2026 (the “2026 Notes,” and together with the 2021 Notes, the “Senior Notes”). Our proceeds were $989 million, net of discount of $2 million and issuance costs of $9 million. Both the discount and issuance costs are being amortized to interest expense over the respective terms of the 2021 Notes and the 2026 Notes using the effective interest rate method. The effective interest rate is 3.94% for the 2021 Notes and 4.97% for the 2026 Notes. Interest is payable semiannually in arrears, on March 1 and September 1 of each year. The carrying and fair values of the Senior Notes are as follows (in millions):
As of September 30, 2018, the remaining life of the 2021 Notes and 2026 Notes is approximately 2.4 years and 7.4 years, respectively. The Senior Notes are senior unsecured obligations and rank equally with all our other existing and future unsubordinated obligations and any indebtedness that we may incur from time to time under our Credit Facility. The 2021 Notes and the 2026 Notes are redeemable at our option at any time prior to February 1, 2021 or December 1, 2025, respectively, subject to a make-whole premium. Within one and three months of maturity, we may redeem the 2021 Notes or the 2026 Notes, respectively, at a redemption price equal to 100% of the aggregate principal amount plus accrued and unpaid interest. In addition, upon the occurrence of a change of control repurchase event, the holders of the Senior Notes may require us to repurchase all or a portion of the Senior Notes, at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. The Senior Notes also include covenants that limit our ability to incur liens on assets and to enter into sale and leaseback transactions, subject to certain allowances. Credit Facility In March 2015, we entered into a $500 million senior unsecured revolving credit facility (“Credit Facility”) with a syndicate of banks. The Credit Facility terminates on March 19, 2020. The Credit Facility contains an option to arrange with existing lenders and/or new lenders to provide up to an aggregate of $250 million in additional commitments for revolving loans. Proceeds of loans made under the Credit Facility may be used for general corporate purposes. The loans bear interest, at our option, at the base rate plus an applicable spread or an adjusted LIBOR rate plus an applicable spread, in each case with such spread being determined based on our consolidated leverage ratio for the preceding fiscal quarter. We are also obligated to pay other customary fees for a credit facility of this size and type. Interest is due and payable in arrears quarterly for loans bearing interest at the base rate and at the end of an interest period (or at each three month interval in the case of loans with interest periods greater than three months) in the case of loans bearing interest at the adjusted LIBOR rate. Principal, together with all accrued and unpaid interest, is due and payable on March 19, 2020. The credit agreement contains customary affirmative and negative covenants, including covenants that limit or restrict our ability to, among other things, incur subsidiary indebtedness, grant liens, dispose of all or substantially all assets and pay dividends or make distributions, in each case subject to customary exceptions for a credit facility of this size and type. We are also required to maintain compliance with a capitalization ratio and maintain a minimum level of total liquidity. The credit agreement contains customary events of default, including among others, non-payment defaults, covenant defaults, cross-defaults to material indebtedness, bankruptcy and insolvency defaults, material judgment defaults and a change of control default, in each case, subject to customary exceptions for a credit facility of this size and type. The occurrence of an event of default could result in the acceleration of the obligations under the credit facility, an obligation by any guarantors to repay the obligations in full and an increase in the applicable interest rate. As of September 30, 2018, no amounts were outstanding under the Credit Facility. $2 million of debt issuance costs that were paid in connection with obtaining this credit facility are being amortized to interest expense over the 5-year term of the Credit Facility. Interest Expense The following table summarizes our interest expense recognized for the three and six months ended September 30, 2018 and 2017 that is included in interest and other income (expense), net on our Condensed Consolidated Statements of Operations (in millions):
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Commitments And Contingencies |
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Commitments And Contingencies | (13) COMMITMENTS AND CONTINGENCIES Lease Commitments As of September 30, 2018, we leased certain facilities, furniture and equipment under non-cancelable operating lease agreements. We were required to pay property taxes, insurance and normal maintenance costs for certain of these facilities and any increases over the base year of these expenses on the remainder of our facilities. Development, Celebrity, League and Content Licenses: Payments and Commitments The products we produce in our studios are designed and created by our employee designers, artists, software programmers and by non-employee software developers (“independent artists” or “third-party developers”). We typically advance development funds to the independent artists and third-party developers during development of our games, usually in installment payments made upon the completion of specified development milestones. Contractually, these payments are generally considered advances against subsequent royalties on the sales of the products. These terms are set forth in written agreements entered into with the independent artists and third-party developers. In addition, we have certain celebrity, league and content license contracts that contain minimum guarantee payments and marketing commitments that may not be dependent on any deliverables. Celebrities and organizations with whom we have contracts include, but are not limited to: FIFA (Fédération Internationale de Football Association), FIFPRO Foundation, FAPL (Football Association Premier League Limited), and DFL Deutsche Fußball Liga E.V. (German Soccer League) (professional soccer); National Basketball Association (professional basketball); National Hockey League and NHL Players’ Association (professional hockey); National Football League Properties and PLAYERS Inc. (professional football); William Morris Endeavor Entertainment LLC (professional mixed martial arts); ESPN (content in EA SPORTS games); Disney Interactive (Star Wars); and Fox Digital Entertainment, Inc. (The Simpsons). These developer and content license commitments represent the sum of (1) the cash payments due under non-royalty-bearing licenses and services agreements and (2) the minimum guaranteed payments and advances against royalties due under royalty-bearing licenses and services agreements, the majority of which are conditional upon performance by the counterparty. These minimum guarantee payments and any related marketing commitments are included in the table below. The following table summarizes our minimum contractual obligations as of September 30, 2018 (in millions):
The unrecognized amounts represented in the table above reflect our minimum cash obligations for the respective fiscal years, but do not necessarily represent the periods in which they will be recognized and expensed in our Condensed Consolidated Financial Statements. In addition, the amounts in the table above are presented based on the dates the amounts are contractually due as of September 30, 2018; however, certain payment obligations may be accelerated depending on the performance of our operating results. Furthermore, up to $30 million of the unrecognized amounts in the table above may be payable, at the licensor’s election, in shares of our common stock, subject to a $10 million maximum during any fiscal year. The number of shares to be issued will be based on their fair market value at the time of issuance. In addition to what is included in the table above, as of September 30, 2018, we had a liability for unrecognized tax benefits and an accrual for the payment of related interest totaling $248 million, of which we are unable to make a reasonably reliable estimate of when cash settlement with a taxing authority will occur. In addition to what is included in the table above, as of September 30, 2018, we may be required to pay up to $140 million of cash consideration in connection with the December 1, 2017 acquisition of Respawn based on the achievement of certain performance milestones through the end of calendar year 2022. As of September 30, 2018, we have recorded $124 million of contingent consideration on our Condensed Consolidated Balance Sheet representing the estimated fair value. Subsequent to September 30, 2018, we entered into various service and lease agreements with third parties which contingently commits us to pay an additional approximately $137 million at various dates through fiscal year 2025. Legal Proceedings On July 29, 2010, Michael Davis, a former NFL running back, filed a putative class action in the United States District Court for the Northern District of California against the Company, alleging that certain past versions of Madden NFL included the images of certain retired NFL players without their permission. In March 2012, the trial court denied the Company’s request to dismiss the complaint on First Amendment grounds. In January 2015, that trial court decision was affirmed by the Ninth Circuit Court of Appeals and the case was remanded back to the United States District Court for the Northern District of California. In August 2018, the United States District Court for the Northern District of California denied the plaintiffs’ motion for class certification, which the plaintiffs have appealed. Governmental authorities in Belgium have sought to limit or discontinue the use of in-game mechanics involving a randomized selection of virtual items. On August 10, 2018, we were notified that the Belgian Gambling Commission made a referral to the Belgian Public Prosecutor’s Office regarding the use such mechanics in the FIFA Ultimate Team service included in FIFA 18. The Public Prosecutor is investigating the referral and has not yet determined whether to initiate proceedings against the Company, certain subsidiaries of the Company, and/or certain executive officers of the Company. The Company does not believe that its products and services violate applicable gambling laws, and is engaged in discussions with appropriate governmental authorities in Belgium. We are also subject to claims and litigation arising in the ordinary course of business. We do not believe that any liability from any reasonably foreseeable disposition of such claims and litigation, individually or in the aggregate, would have a material adverse effect on our Condensed Consolidated Financial Statements. |
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Share-based Compensation [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | (14) STOCK-BASED COMPENSATION Valuation Assumptions We recognize compensation cost for stock-based awards to employees based on the awards’ estimated grant-date fair value using a straight-line approach over the service period for which such awards are expected to vest. We account for forfeitures as they occur. The estimation of the fair value of market-based restricted stock units, stock options and ESPP purchase rights is affected by assumptions regarding subjective and complex variables. Generally, our assumptions are based on historical information and judgment is required to determine if historical trends may be indicators of future outcomes. We estimate the fair value of our stock-based awards as follows:
There were an insignificant number of stock options granted during the three and six months ended September 30, 2018 and 2017. The estimated assumptions used in the Black-Scholes valuation model to value our ESPP purchase rights were as follows:
There were no market-based restricted stock units granted during the three months ended September 30, 2018 and 2017. Stock-Based Compensation Expense The following table summarizes stock-based compensation expense resulting from stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and the ESPP purchase rights included in our Condensed Consolidated Statements of Operations (in millions):
During the three months ended September 30, 2018, we recognized a $9 million deferred income tax benefit related to our stock-based compensation expense. During the three months ended September 30, 2017, we recognized a $12 million deferred income tax benefit related to our stock-based compensation expense. During the six months ended September 30, 2018, we recognized a $17 million deferred income tax benefit related to our stock-based compensation expense. During the six months ended September 30, 2017, we recognized a $22 million deferred income tax benefit related to our stock-based compensation expense. As of September 30, 2018, our total unrecognized compensation cost related to restricted stock units, market-based restricted stock units, performance-based restricted stock units was $578 million and is expected to be recognized over a weighted-average service period of 2.2 years. Of the $578 million of unrecognized compensation cost, $493 million relates to restricted stock units, $64 million relates to market-based restricted stock units, and $21 million relates to performance-based restricted stock units at 100 percent average vesting target. Stock Options The following table summarizes our stock option activity for the six months ended September 30, 2018:
The aggregate intrinsic value represents the total pre-tax intrinsic value based on our closing stock price as of September 30, 2018, which would have been received by the option holders had all the option holders exercised their options as of that date. We issue new common stock from our authorized shares upon the exercise of stock options. Restricted Stock Units The following table summarizes our restricted stock unit activity for the six months ended September 30, 2018:
Performance-Based Restricted Stock Units Our performance-based restricted stock units cliff vest after a four-year performance period contingent upon the achievement of pre-determined performance-based milestones based on our non-GAAP net revenue and free cash flow as well as service conditions. If these performance-based milestones are not met but service conditions are met, the performance-based restricted stock units will not vest, in which case any compensation expense we have recognized to date will be reversed. Each quarter, we update our assessment of the probability that the non-GAAP net revenue and free cash flow performance milestones will be achieved. We amortize the fair values of performance-based restricted stock units over the requisite service period. The performance-based restricted stock units contain threshold, target and maximum milestones for each of non-GAAP net revenue and free cash flow. The number of shares of common stock to be issued at vesting will range from zero percent to 200 percent of the target number of performance-based restricted stock units attributable to each performance-based milestone based on the company’s performance as compared to these threshold, target and maximum performance-based milestones. Each performance-based milestone is weighted evenly where 50 percent of the total performance-based restricted stock units that vest will be determined based on non-GAAP net revenue and the other 50 percent will be determined based on free cash flow. The number of shares that vest based on each performance-based milestone is independent from the other. The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the six months ended September 30, 2018:
Market-Based Restricted Stock Units Our market-based restricted stock units vest contingent upon the achievement of pre-determined market and service conditions. If these market conditions are not met but service conditions are met, the market-based restricted stock units will not vest; however, any compensation expense we have recognized to date will not be reversed. The number of shares of common stock to be issued at vesting will range from zero percent to 200 percent of the target number of market-based restricted stock units based on our total stockholder return (“TSR”) relative to the performance of companies in the NASDAQ-100 Index for each measurement period, over either a one-year, two-year cumulative and three-year cumulative period. The following table summarizes our market-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the six months ended September 30, 2018:
Stock Repurchase Program In May 2015, our Board of Directors authorized a program to repurchase up to $1 billion of our common stock. We repurchased approximately 0.3 million shares for approximately $31 million under this program during the three months ended June 30, 2017. We completed repurchases under the May 2015 program in April 2017. In May 2017, a Special Committee of our Board of Directors, on behalf of the full Board of Directors, authorized a program to repurchase up to $1.2 billion of our common stock. We repurchased approximately 0.6 million shares for approximately $76 million under this program during the three months ended June 30, 2018. During the three and six months ended September 30, 2017, we repurchased approximately 1.3 million and 2.4 million shares for approximately $153 million and $272 million, respectively, under this program. This program was superseded and replaced by a new stock repurchase program approved in May 2018. In May 2018, a Special Committee of our Board of Directors, on behalf of the full Board of Directors, authorized a program to repurchase up to $2.4 billion of our common stock. This stock repurchase program supersedes and replaces the May 2017 program, and expires on May 31, 2020. Under this program, we may purchase stock in the open market or through privately negotiated transactions in accordance with applicable securities laws, including pursuant to pre-arranged stock trading plans. The timing and actual amount of the stock repurchases will depend on several factors including price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. We are not obligated to repurchase a specific number of shares under this program and it may be modified, suspended or discontinued at any time. During the three and six months ended September 30, 2018, we repurchased approximately 2.3 million and 4.0 million shares for approximately $299 million and $523 million, respectively, under this program. The following table summarizes total shares repurchased during the three and six months ended September 30, 2018 and 2017:
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Earnings (Loss) Per Share |
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Earnings Per Share Reconciliation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings (Loss) Per Share | (15) EARNINGS (LOSS) PER SHARE The following table summarizes the computations of basic earnings per share (“Basic EPS”) and diluted earnings per share (“Diluted EPS”). Basic EPS is computed as net income divided by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock-based compensation plans including stock options, restricted stock, restricted stock units, ESPP purchase rights, warrants, and other convertible securities using the treasury stock method.
For the three months ended September 30, 2018 and six months ended September 30, 2018 and 2017, an immaterial amount of restricted stock units and market-based restricted stock units were excluded from the treasury stock method computation of diluted shares as their inclusion would have had an antidilutive effect. Our performance-based restricted stock units, which are considered contingently issuable shares, are also excluded from the treasury stock method computation because the related performance-based milestones were not achieved as of the end of the reporting period. As a result of our net loss for the three months ended September 30, 2017, we have excluded all potentially dilutive common shares from the diluted loss per share calculation as their inclusion would have had an antidilutive effect. Had we reported net income for this period, an additional 3 million shares of common stock related to our outstanding equity-based instruments would have been included in the number of shares used to calculate Diluted EPS for the three months ended September 30, 2017. |
Segment Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Information | (16) SEGMENT INFORMATION Our reporting segment is based upon: our internal organizational structure; the manner in which our operations are managed; the criteria used by our Chief Executive Officer, our Chief Operating Decision Maker (“CODM”), to evaluate segment performance; the availability of separate financial information; and overall materiality considerations. Our CODM currently reviews total company operating results to assess overall performance and allocate resources. As of September 30, 2018, we have only one reportable segment, which represents our only operating segment. Information about our total net revenue by composition and by platform for the three and six months ended September 30, 2018 and 2017 is presented below (in millions):
Digital net revenue includes full-game downloads, live services, and mobile revenue. Full game downloads includes revenue from digital sales of full games on console and PC. Live services includes revenue from sales of extra content for console, PC, browser games, game software licensed to our third-party publishing partners who distribute our games digitally, subscriptions, and advertising. Mobile includes revenue from the sale of full games and extra content on mobile phones and tablets. Packaged goods net revenue includes revenue from software that is sold physically. This includes (1) net revenue from game software sold physically through traditional channels such as brick and mortar retailers, and (2) our software licensing revenue from third parties (for example, makers of console platforms, personal computers or computer accessories) who include certain of our products for sale with their products (“OEM bundles”). Other revenue includes our non-software licensing revenue.
Net revenue from unaffiliated customers in North America and internationally for the three and six months ended September 30, 2018 and 2017 is presented below (in millions):
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Description Of Business And Basis Of Presentation (Policies) |
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Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recently Adopted Accounting Standards In May 2014, the FASB issued the Accounting Standards Codification (“ASC”) Topic 606, Revenue From Contracts with Customers (the “New Revenue Standard” or “ASC 606”), which replaced ASC Topic 605, Revenue Recognition (the “Old Revenue Standard” or “ASC 605”), including industry-specific requirements, and provided companies with a single principles-based revenue recognition model for recognizing revenue from contracts with customers. The core principle of the New Revenue Standard is that a company should recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. We adopted the New Revenue Standard on April 1, 2018, the beginning of fiscal year 2019, using the modified retrospective method. We elected to apply the New Revenue Standard only to contracts that were not completed as of the adoption date. The comparative information for periods prior to April 1, 2018 has not been restated and continues to be reported under the accounting standards in effect for those periods. The net cumulative effect adjustment upon adoption resulted in an increase to retained earnings of $590 million, net of tax, and included the impact from the following adjustments to our Condensed Consolidated Balance Sheet at April 1, 2018:
The most significant impacts of the New Revenue Standard were:
For example, for an individual sale of a game with both online and offline functionality, we typically have three distinct performance obligations; (1) the software license; (2) a right to receive future updates; and (3) online hosting. The software license performance obligation represents the game that is delivered digitally or via physical disc at the time of sale and typically provides access to offline core game content. The future update rights performance obligation includes updates on a when-and-if-available basis such as software patches or updates, and/or additional free content to be delivered in the future. The online hosting performance obligation consists of providing the customer with a hosted connection for online playability. Since we do not sell the performance obligations on a stand-alone basis, we consider market conditions and other observable inputs to estimate the stand-alone selling price for each performance obligation. For games with services under the New Revenue Standard, generally 75 percent of the sales price is allocated to the software license performance obligation and recognized at a point in time upon delivery (which is usually at or near the same time as the booking of the transaction), and the remaining 25 percent is allocated to the future update rights and the online hosting performance obligations and recognized ratably over the Estimated Offering Period. For sales prior to April 1, 2018, our deferred revenue balances decreased by $740 million upon adoption of the New Revenue Standard because the software license performance obligation had been delivered in the prior fiscal year.
The adoption of the New Revenue Standard impacted our Condensed Consolidated Balance Sheet as of September 30, 2018 and our Condensed Consolidated Statement of Operations for the three and six months ended September 30, 2018 as follows:
The adoption of the New Revenue Standard accelerated the revenue recognition of prior period game sales into retained earnings, which will result in a one-time increase in cash taxes paid on our Condensed Consolidated Statement of Cash Flows for the fiscal year ending March 31, 2019. Refer to the following sections of our Condensed Consolidated Financial Statements for the additional disclosures required by the New Revenue Standard:
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Impact of recently issued accounting standards | Other Recently Issued Accounting Standards In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The FASB issued this standard to increase transparency and comparability among organizations by recognizing right-of-use assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. In July 2018, the FASB issued ASU 2018-11, Targeted Improvements, which provides entities with optional transition relief by allowing entities to use the effective date of the new lease standard as the date of initial application on transition, instead of at the beginning of the earliest comparative period presented. We anticipate adopting this standard using this optional transition method beginning in the first quarter of fiscal year 2020, when the updated guidance is effective for us, and accordingly, we will not adjust prior periods for the effects of the new lease standard. We are evaluating the impact of this new standard on our Condensed Consolidated Financial Statements, but expect it to have a significant impact to our consolidated balance sheet as a result of establishing right-of-use assets and lease liabilities for our operating leases. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This update is intended to make more financial and nonfinancial hedging strategies eligible for hedge accounting. It also amends the presentation and disclosure requirements and changes how companies assess effectiveness. This update is effective for us beginning in the first quarter of fiscal year 2020. Early adoption is permitted. We are currently evaluating the timing of adoption and impact of this new standard on our Condensed Consolidated Financial Statements and related disclosures. In June 2016, the FASB issued ASU 2016-13, Financial Instruments—Credit Losses (Topic 326). The standard changes the methodology for measuring credit losses on financial instruments and the timing of when such losses are recorded. ASU 2016-13 is effective for us beginning in the first quarter of fiscal year 2021. Early adoption is permitted beginning in the first quarter of fiscal year 2020. We are currently evaluating the timing of adoption and impact of this new standard on our Condensed Consolidated Financial Statements and related disclosures. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement. This update changes the fair value measurement disclosure requirements. It summarizes the key provisions including the new, eliminated, and modified disclosure requirements. This update is effective for us beginning in the first quarter of fiscal year 2021. Early adoption is permitted. We are currently evaluating the timing of adoption and impact of this new standard on our Condensed Consolidated Financial Statements and related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40). This update requires a customer in a cloud computing service arrangement to follow the internal-use software guidance in order to determine which implementation costs to defer and recognize as an asset. This update is effective for us beginning in the first quarter of fiscal year 2021. Early adoption is permitted. We are currently evaluating the timing of adoption and impact of this new standard on our Condensed Consolidated Financial Statements and related disclosures. |
Summary of Significant Accounting Policies (Policies) |
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Revenue from Contract with Customer [Policy Text Block] | (2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES As discussed in Note 1 — Description of Business and Basis of Presentation, we adopted the New Revenue Standard on April 1, 2018. Other than adoption of this New Revenue Standard, there were no significant changes to our accounting policies during the six months ended September 30, 2018. Refer to Note 1 — Description of Business and Summary of Significant Accounting Policies in our Annual Report on Form 10-K for the year ended March 31, 2018 for a summary of our other significant accounting policies. Revenue Recognition We derive revenue principally from sales of our games, and related extra-content and services that can be played by customers on a variety of platforms which include game consoles, PCs, mobile phones and tablets. Our product and service offerings include, but are not limited to, the following:
Effective April 1, 2018, we evaluate revenue recognition based on the criteria set forth in ASC 606, Revenue from Contracts with Customers. We evaluate and recognize revenue by:
Online-Enabled Games Games with Services. Our sales of Games with Services are evaluated to determine whether the software license, future update rights and the online hosting are distinct and separable. Sales of Games with Services are generally determined to have three distinct performance obligations: software license, future update rights, and the online hosting. Since we do not sell the performance obligations on a stand-alone basis, we consider market conditions and other observable inputs to estimate the stand-alone selling price for each performance obligation. We recognize revenue from these arrangements upon transfer of control for each performance obligation. For the portion of the transaction price allocated to the software license, revenue is recognized when control of the license has been transferred to the customer. For the portion of the transaction price allocated to the future update rights and the online hosting, revenue is recognized as the services are provided. Online-Hosted Service Games. Sales of our Online-Hosted Service Games are determined to have one distinct performance obligation: the online hosting. We recognize revenue from these arrangements as the service is provided. Extra Content. Revenue received from sales of downloadable content are derived primarily from the sale of virtual currencies and digital in-game content to our customers to enhance their gameplay experience. Sales of extra content are accounted for in a manner consistent with the treatment for our Games with Services and Online-Hosted Service Games as discussed above, depending upon whether or not the extra content has offline functionality. Subscriptions Revenue from subscriptions is recognized over the subscription term as the service is provided. Licensing Revenues In certain countries, we utilize third-party licensees to distribute and host our games in accordance with license agreements, for which the licensees typically pay us a fixed minimum guarantee and/or sales-based royalties. These arrangements typically include multiple performance obligations, such as a time-based license of software and future update rights. We recognize as revenue a portion of the minimum guarantee when we transfer control of the license of software (generally upon commercial launch) and the remaining portion ratably over the contractual term in which we provide the licensee with future update rights. Any sales-based royalties are generally recognized as the related sales occur by the licensee. Revenue Classification We classify our revenue as either product revenue or service and other revenue. Generally, performance obligations that are recognized upfront upon transfer of control are classified as product revenue, while performance obligations that are recognized over the Estimated Offering Period or subscription period as the services are provided are classified as service revenue. Product revenue. Our product revenue includes revenue allocated to the software license performance obligation. Product revenue also includes revenue from the licensing of software to third-parties. Service and other revenue. Our service revenue includes revenue allocated to the future update rights and the online hosting performance obligations. This also includes revenue allocated to the future update rights from the licensing of software to third-parties, software that offers an online-only service such as our Ultimate Team game mode, and subscription services. Significant Judgments around Revenue Arrangements Identifying performance obligations. Performance obligations promised in a contract are identified based on the goods and services that will be transferred to the customer that are both capable of being distinct, (i.e., the customer can benefit from the goods or services either on its own or together with other resources that are readily available), and are distinct in the context of the contract (i.e., it is separately identifiable from other goods or services in the contract). To the extent a contract includes multiple promises, we must apply judgment to determine whether those promises are separate and distinct performance obligations. If these criteria are not met, the promises are accounted for as a combined performance obligation. Determining the transaction price. The transaction price is determined based on the consideration that we will be entitled to receive in exchange for transferring our goods and services to the customer. Determining the transaction price often requires significant judgment, based on an assessment of contractual terms and business practices. It further includes review of variable consideration such as discounts, sales returns, price protection, and rebates, which is estimated at the time of the transaction. See below for additional information regarding our sales returns and price protection reserves. In addition, the transaction price does not include an estimate of the variable consideration related to sales-based royalties. Sales-based royalties are recognized as the sales occur. Allocating the transaction price. Allocating the transaction price requires that we determine an estimate of the relative stand-alone selling price for each distinct performance obligation. Determining the relative stand-alone selling price is inherently subjective, especially in situations where we do not sell the performance obligation on a stand-alone basis (which occurs in the majority of our transactions). In those situations, we determine the relative stand-alone selling price based on various observable inputs using all information that is reasonably available. Examples of observable inputs and information include: historical internal pricing data, cost plus margin analyses, third-party external pricing of similar or same products and services such as software licenses and maintenance support within the enterprise software industry. The results of our analysis resulted in a specific percentage of the transaction price being allocated to each performance obligation. Determining the Estimated Offering Period. The offering period is the period in which we offer to provide the future update rights and/or online hosting for the game and related extra content sold. Because the offering period is not an explicitly defined period, we must make an estimate of the offering period for the service related performance obligations (i.e., future update rights and online hosting). Determining the Estimated Offering Period is inherently subjective and is subject to regular revision. Generally, we consider the average period of time customers are online when estimating the offering period. We also consider the estimated period of time between the date a game unit is sold to a reseller and the date the reseller sells the game unit to the customer (i.e., time in channel). Based on these two factors, we then consider the method of distribution. For example, games sold at retail would have a composite offering period equal to the online gameplay period plus time in channel as opposed to digitally-distributed software licenses which are delivered immediately via digital download and therefore, the offering period is estimated to be only the online gameplay period. Additionally, we consider results from prior analyses, known and expected online gameplay trends, as well as disclosed service periods for competitors’ games in determining the Estimated Offering Period for future sales. We believe this provides a reasonable depiction of the transfer of future update rights and online hosting to our customers, as it is the best representation of the time period during which our games are played. We recognize revenue for future update rights and online hosting performance obligations ratably on a straight-line basis over this period as there is a consistent pattern of delivery for these performance obligations. These performance obligations are generally recognized over an estimated nine-month period beginning in the month after shipment for software licenses sold through retail and an estimated six-month period for digitally-distributed software licenses. Deferred Net Revenue Because the majority of our sales transactions include future update rights and online hosting performance obligations, which are subject to a recognition period of generally six to nine months, our deferred net revenue balance is material. This balance increases from period to period by the revenue being deferred for current sales with these service obligations and is reduced by the recognition of revenue from prior sales that were deferred. Generally, revenue is recognized as the services are provided. Principal Agent Considerations We evaluate sales to end customers of our full games and related content via third-party storefronts, including digital storefronts such as Microsoft’s Xbox Store, Sony’s PlayStation Store, Apple App Store, and Google Play Store, in order to determine whether or not we are acting as the principal in the sale to the end customer, which we consider in determining if revenue should be reported gross or net of fees retained by the third-party storefront. An entity is the principal if it controls a good or service before it is transferred to the end customer. Key indicators that we evaluate in determining gross versus net treatment include but are not limited to the following:
Based on an evaluation of the above indicators, except as discussed below, we have determined that generally the third party is considered the principal to end customers for the sale of our full games and related content. We therefore report revenue related to these arrangements net of the fees retained by the storefront. However, for sales arrangements via Apple App Store and Google Play Store, EA is considered the principal to the end customer and thus, we report revenue on a gross basis and mobile platform fees are reported within cost of revenue. Payment Terms Substantially all of our transactions have payment terms, whether customary or on an extended basis, of less than one year; therefore, we generally do not adjust the transaction price for the effects of any potential financing components that may exist. Sales and Value-Added Taxes Revenue is recorded net of taxes assessed by governmental authorities that are imposed at the time of the specific revenue-producing transaction between us and our customer, such as sales and value-added taxes. Sales Returns and Price Protection Reserves Sales returns and price protection are considered variable consideration under ASC 606. We reduce revenue for estimated future returns and price protection which may occur with our distributors and retailers (“channel partners”). Price protection represents our practice to provide our channel partners with a credit allowance to lower their wholesale price on a particular game unit that they have not resold to customers. The amount of the price protection for permanent markdowns is the difference between the old wholesale price and the new reduced wholesale price. Credits are also given for short-term promotions that temporarily reduce the wholesale price. In certain countries we also have a practice for allowing channel partners to return older products in the channel in exchange for a credit allowance. When evaluating the adequacy of sales returns and price protection reserves, we analyze the following: historical credit allowances, current sell-through of our channel partners’ inventory of our products, current trends in retail and the video game industry, changes in customer demand, acceptance of our products, and other related factors. In addition, we monitor the volume of sales to our channel partners and their inventories, as substantial overstocking in the distribution channel could result in high returns or higher price protection in subsequent periods. |
Description Of Business And Basis Of Presentation New Accounting Pronouncements or Change in Accounting Principle (Tables) |
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New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Recently Adopted Accounting Standards In May 2014, the FASB issued the Accounting Standards Codification (“ASC”) Topic 606, Revenue From Contracts with Customers (the “New Revenue Standard” or “ASC 606”), which replaced ASC Topic 605, Revenue Recognition (the “Old Revenue Standard” or “ASC 605”), including industry-specific requirements, and provided companies with a single principles-based revenue recognition model for recognizing revenue from contracts with customers. The core principle of the New Revenue Standard is that a company should recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. We adopted the New Revenue Standard on April 1, 2018, the beginning of fiscal year 2019, using the modified retrospective method. We elected to apply the New Revenue Standard only to contracts that were not completed as of the adoption date. The comparative information for periods prior to April 1, 2018 has not been restated and continues to be reported under the accounting standards in effect for those periods. The net cumulative effect adjustment upon adoption resulted in an increase to retained earnings of $590 million, net of tax, and included the impact from the following adjustments to our Condensed Consolidated Balance Sheet at April 1, 2018:
The most significant impacts of the New Revenue Standard were:
For example, for an individual sale of a game with both online and offline functionality, we typically have three distinct performance obligations; (1) the software license; (2) a right to receive future updates; and (3) online hosting. The software license performance obligation represents the game that is delivered digitally or via physical disc at the time of sale and typically provides access to offline core game content. The future update rights performance obligation includes updates on a when-and-if-available basis such as software patches or updates, and/or additional free content to be delivered in the future. The online hosting performance obligation consists of providing the customer with a hosted connection for online playability. Since we do not sell the performance obligations on a stand-alone basis, we consider market conditions and other observable inputs to estimate the stand-alone selling price for each performance obligation. For games with services under the New Revenue Standard, generally 75 percent of the sales price is allocated to the software license performance obligation and recognized at a point in time upon delivery (which is usually at or near the same time as the booking of the transaction), and the remaining 25 percent is allocated to the future update rights and the online hosting performance obligations and recognized ratably over the Estimated Offering Period. For sales prior to April 1, 2018, our deferred revenue balances decreased by $740 million upon adoption of the New Revenue Standard because the software license performance obligation had been delivered in the prior fiscal year.
The adoption of the New Revenue Standard impacted our Condensed Consolidated Balance Sheet as of September 30, 2018 and our Condensed Consolidated Statement of Operations for the three and six months ended September 30, 2018 as follows:
The adoption of the New Revenue Standard accelerated the revenue recognition of prior period game sales into retained earnings, which will result in a one-time increase in cash taxes paid on our Condensed Consolidated Statement of Cash Flows for the fiscal year ending March 31, 2019. Refer to the following sections of our Condensed Consolidated Financial Statements for the additional disclosures required by the New Revenue Standard:
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New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | The adoption of the New Revenue Standard impacted our Condensed Consolidated Balance Sheet as of September 30, 2018 and our Condensed Consolidated Statement of Operations for the three and six months ended September 30, 2018 as follows:
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New Accounting Pronouncements and Changes in Accounting Principles [Text Block] |
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Fair Value Measurements (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets Measured on Recurring Basis [Table Text Block] |
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Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] |
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Financial Instruments (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Of Short-Term Investments | Short-term investments consisted of the following as of September 30, 2018 and March 31, 2018 (in millions):
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Fair Value Of Short-Term Investments By Stated Maturity Date Schedule | The following table summarizes the amortized cost and fair value of our short-term investments, classified by stated maturity as of September 30, 2018 and March 31, 2018 (in millions):
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Derivative Financial Instruments (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block] | Total gross notional amounts and fair values for currency derivatives with cash flow hedge accounting designation are as follows (in millions):
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Derivatives Not Designated as Hedging Instruments [Table Text Block] | Total gross notional amounts and fair values for currency derivatives that are not designated as hedging instruments are accounted for as follows (in millions):
The effect of foreign currency forward contracts not designated as hedging instruments in our Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2018 and 2017 was as follows (in millions):
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Accumulated Other Comprehensive Income (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Components of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended September 30, 2018 and 2017 are as follows (in millions):
The changes in accumulated other comprehensive income (loss) by component, net of tax, for the six months ended September 30, 2018 and 2017 are as follows (in millions):
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Reclassification out of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and six months ended September 30, 2018 were as follows (in millions):
The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and six months ended September 30, 2017 were as follows (in millions):
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Goodwill And Acquisition-Related Intangibles, Net (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Changes In The Carrying Amount Of Goodwill | The changes in the carrying amount of goodwill for the six months ended September 30, 2018 are as follows (in millions):
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Schedule Of Acquisition-Related Intangibles | Acquisition-related intangibles consisted of the following (in millions):
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Schedule Of Amoritization Of Intangibles | Amortization of intangibles for the three and six months ended September 30, 2018 and 2017 are classified in the Condensed Consolidated Statement of Operations as follows (in millions):
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Schedule Of Future Amortization Of Acquisition-Related Intangibles | As of September 30, 2018, future amortization of finite-lived acquisition-related intangibles that will be recorded in the Condensed Consolidated Statement of Operations is estimated as follows (in millions):
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Royalties And Licenses (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||
Royalties And Licenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Royalty-Related Assets | The current and long-term portions of prepaid royalties and minimum guaranteed royalty-related assets, included in other current assets and other assets, consisted of (in millions):
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Schedule Of Royalty-Related Liabilities | The current and long-term portions of accrued royalties, included in accrued and other current liabilities and other liabilities, consisted of (in millions):
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Balance Sheet Details (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance Sheet Related Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Property And Equipment, Net Schedule | Property and equipment, net, as of September 30, 2018 and March 31, 2018 consisted of (in millions):
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Accrued And Other Current Liabilities Schedule | Accrued and other current liabilities as of September 30, 2018 and March 31, 2018 consisted of (in millions):
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Deferred Revenue, by Arrangement, Disclosure [Table Text Block] | Deferred net revenue as of September 30, 2018 and April 1, 2018, as adjusted, consisted of (in millions):
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Financing Arrangement (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instruments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Carrying Values Of Liability and Equity Components of Senior Notes [Table Text Block] | The carrying and fair values of the Senior Notes are as follows (in millions):
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Schedule Of Interest Expense | The following table summarizes our interest expense recognized for the three and six months ended September 30, 2018 and 2017 that is included in interest and other income (expense), net on our Condensed Consolidated Statements of Operations (in millions):
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Commitments And Contingencies (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Minimum Contractual Obligations | The following table summarizes our minimum contractual obligations as of September 30, 2018 (in millions):
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Stock-Based Compensation (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of assumptions used in the Black-Scholes valuation model |
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Schedule Of Stock-Based Compensation Expense By Statement Of Operations |
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Employee Stock Option [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award |
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Restricted Stock Rights [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award |
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Performance Based Restricted Stock Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award |
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Market-Based Restricted Stock Units [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award |
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Repurchase Program, Total [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award |
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Earnings (Loss) Per Share (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share Reconciliation [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Computation Of Basic Earnings (Loss) And Diluted Earnings (Loss) Per Share | The following table summarizes the computations of basic earnings per share (“Basic EPS”) and diluted earnings per share (“Diluted EPS”). Basic EPS is computed as net income divided by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock-based compensation plans including stock options, restricted stock, restricted stock units, ESPP purchase rights, warrants, and other convertible securities using the treasury stock method.
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Segment Information (Tables) |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Revenue By Revenue Composition | Information about our total net revenue by composition and by platform for the three and six months ended September 30, 2018 and 2017 is presented below (in millions):
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Net Revenue by Platform |
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Net Revenue By Geographic Area | Net revenue from unaffiliated customers in North America and internationally for the three and six months ended September 30, 2018 and 2017 is presented below (in millions):
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Description Of Business And Basis Of Presentation Fiscal Period (Details) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
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Fiscal Period | ||||
Current and Prior Years Fiscal Period (in weeks) | 52 | 52 | ||
Current and Prior Years Fiscal Quarter Period (in weeks) | 13 | 13 | ||
Minimum | ||||
Fiscal Period | ||||
Fiscal Year | 52 | |||
Maximum | ||||
Fiscal Period | ||||
Fiscal Year | 53 |
Description Of Business And Basis Of Presentation New revenue standard adoption (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Apr. 01, 2018 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Increase (Decrease) in Deferred Revenue | $ (360) | |||||||
Net revenue | $ 1,286 | $ 959 | 2,423 | $ 2,408 | ||||
Service [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Net revenue | 663 | $ 505 | 1,598 | $ 1,126 | ||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Increase (Decrease) in Deferred Revenue | [1] | $ 740 | ||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | Service [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Net revenue | 102 | 288 | ||||||
Cost of Sales [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Mobile platform fees | [1] | $ 64 | $ 44 | $ 93 | ||||
Transferred at Point in Time [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Revenue, Information Used to Allocate Transaction Price | 0.75 | |||||||
Transferred over Time [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Revenue, Information Used to Allocate Transaction Price | 0.25 | |||||||
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Description Of Business And Basis Of Presentation New revenue standard adoption - Balance Sheet at Period Start (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Jun. 30, 2018 |
Apr. 01, 2018 |
Mar. 31, 2018 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
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Condensed Balance Sheet Statements, Captions [Line Items] | ||||||||||
Receivables, Net | $ 966 | $ 385 | [1] | |||||||
Deferred income taxes, net | 112 | 84 | [1] | |||||||
Deferred net revenue, other | 113 | 108 | ||||||||
Deferred net revenue (online-enabled games) | 574 | 1,622 | [1] | |||||||
Retained Earnings (Accumulated Deficit) | 5,199 | 4,062 | [1] | |||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (19) | $ (26) | (127) | [1] | $ (73) | $ (71) | $ (19) | |||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||||||||
Receivables, Net | $ 158 | |||||||||
Deferred income taxes, net | (64) | |||||||||
Sales return and price protection reserves | 158 | |||||||||
Deferred net revenue, other | (3) | |||||||||
Deferred net revenue (online-enabled games) | (673) | |||||||||
Retained Earnings (Accumulated Deficit) | [1] | 590 | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | 22 | |||||||||
Accounting Standards Update 2014-09 [Member] | ||||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||||||||
Receivables, Net | 543 | |||||||||
Deferred income taxes, net | 20 | |||||||||
Sales return and price protection reserves | 158 | |||||||||
Deferred net revenue, other | 105 | |||||||||
Deferred net revenue (online-enabled games) | 949 | |||||||||
Retained Earnings (Accumulated Deficit) | 4,652 | |||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (105) | |||||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | ||||||||||
Receivables, Net | 385 | |||||||||
Deferred income taxes, net | 84 | |||||||||
Sales return and price protection reserves | 0 | |||||||||
Deferred net revenue, other | 108 | |||||||||
Deferred net revenue (online-enabled games) | 1,622 | |||||||||
Retained Earnings (Accumulated Deficit) | 4,062 | |||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (127) | |||||||||
|
Description Of Business And Basis Of Presentation New revenue standard adoption - Balance Sheet at Period End (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
|||
---|---|---|---|---|---|---|---|---|---|
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Receivables, Net | $ 966 | $ 385 | [1] | ||||||
Other current assets | 292 | 288 | [1] | ||||||
Deferred income taxes, net | 112 | 84 | [1] | ||||||
Other assets | 101 | 89 | [1] | ||||||
Deferred net revenue, other | 113 | 108 | |||||||
Deferred net revenue (online-enabled games) | 574 | 1,622 | [1] | ||||||
Other liabilities | 217 | 255 | [1] | ||||||
Retained Earnings (Accumulated Deficit) | 5,199 | 4,062 | [1] | ||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (19) | $ (26) | (127) | [1] | $ (73) | $ (71) | $ (19) | ||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Receivables, Net | 108 | ||||||||
Other current assets | 4 | ||||||||
Deferred income taxes, net | (39) | ||||||||
Other assets | 12 | ||||||||
Sales return and price protection reserves | 108 | ||||||||
Deferred net revenue, other | (44) | ||||||||
Deferred net revenue (online-enabled games) | (546) | ||||||||
Other liabilities | (1) | ||||||||
Retained Earnings (Accumulated Deficit) | 574 | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (6) | ||||||||
Accounting Standards Update 2014-09 [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Receivables, Net | 966 | ||||||||
Other current assets | 292 | ||||||||
Deferred income taxes, net | 112 | ||||||||
Other assets | 101 | ||||||||
Sales return and price protection reserves | 108 | ||||||||
Deferred net revenue, other | 113 | ||||||||
Deferred net revenue (online-enabled games) | 574 | ||||||||
Other liabilities | 217 | ||||||||
Retained Earnings (Accumulated Deficit) | 5,199 | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (19) | ||||||||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | |||||||||
Condensed Balance Sheet Statements, Captions [Line Items] | |||||||||
Receivables, Net | 858 | ||||||||
Other current assets | 288 | ||||||||
Deferred income taxes, net | 151 | ||||||||
Other assets | 89 | ||||||||
Sales return and price protection reserves | 0 | ||||||||
Deferred net revenue, other | 157 | ||||||||
Deferred net revenue (online-enabled games) | 1,120 | ||||||||
Other liabilities | 218 | ||||||||
Retained Earnings (Accumulated Deficit) | 4,625 | ||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (13) | ||||||||
|
Description Of Business And Basis Of Presentation New revenue standard adoption - Income Statement at Period End (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | $ 1,286 | $ 959 | $ 2,423 | $ 2,408 |
Cost of Revenue | 418 | 389 | 633 | 543 |
Gross Profit | 868 | 570 | 1,790 | 1,865 |
Operating Expenses | 610 | 611 | 1,232 | 1,163 |
Operating Income (Loss) | 258 | (41) | 558 | 702 |
Interest and other income (expense), net | 18 | 3 | 37 | 9 |
Income before provision for income taxes | 276 | (38) | 595 | 711 |
Provision for income taxes | 21 | (16) | 47 | 89 |
Net income (loss) | $ 255 | $ (22) | $ 548 | $ 622 |
Earnings Per Share, Basic | $ 0.84 | $ (0.07) | $ 1.80 | $ 2.01 |
Earnings Per Share, Diluted | $ 0.83 | $ (0.07) | $ 1.77 | $ 1.99 |
Difference between Revenue Guidance in Effect before and after Topic 606, Percentage [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Revenues, percent | 35.00% | 2.00% | ||
Cost of revenue, percent | 12.00% | 17.00% | ||
Gross profit, percent | 50.00% | (2.00%) | ||
Operating expenses, percent | 0.00% | 0.00% | ||
Operating income (loss), percent | (960.00%) | (7.00%) | ||
Other nonoperating income (expense), percent | 0.00% | 0.00% | ||
Income before provision for income taxes, percent | (2400.00%) | (6.00%) | ||
Income tax expense (benefit), percent | 200.00% | (34.00%) | ||
Net income (loss), percent | (1442.00%) | (3.00%) | ||
Earnings per share, basic, percent | (1500.00%) | (3.00%) | ||
Earnings per share, diluted, percent | (1483.00%) | (3.00%) | ||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | $ 332 | $ 53 | ||
Cost of Revenue | 44 | 93 | ||
Gross Profit | 288 | (40) | ||
Operating Expenses | 0 | 0 | ||
Operating Income (Loss) | 288 | (40) | ||
Interest and other income (expense), net | 0 | 0 | ||
Income before provision for income taxes | 288 | (40) | ||
Provision for income taxes | 14 | (24) | ||
Net income (loss) | $ 274 | $ (16) | ||
Earnings Per Share, Basic | $ 0.90 | $ (0.05) | ||
Earnings Per Share, Diluted | $ 0.89 | $ (0.06) | ||
Product [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | $ 623 | $ 454 | $ 825 | $ 1,282 |
Cost of Revenue | $ 222 | 300 | $ 290 | 364 |
Product [Member] | Difference between Revenue Guidance in Effect before and after Topic 606, Percentage [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Revenues, percent | 43.00% | (28.00%) | ||
Cost of revenue, percent | (21.00%) | (19.00%) | ||
Product [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | $ 186 | $ (328) | ||
Cost of Revenue | (58) | (68) | ||
Service [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | 663 | 505 | 1,598 | 1,126 |
Cost of Revenue | $ 196 | $ 89 | $ 343 | $ 179 |
Service [Member] | Difference between Revenue Guidance in Effect before and after Topic 606, Percentage [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Revenues, percent | 28.00% | 31.00% | ||
Cost of revenue, percent | 109.00% | 88.00% | ||
Service [Member] | Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | $ 146 | $ 381 | ||
Cost of Revenue | 102 | 161 | ||
Accounting Standards Update 2014-09 [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | 1,286 | 2,423 | ||
Cost of Revenue | 418 | 633 | ||
Gross Profit | 868 | 1,790 | ||
Operating Expenses | 610 | 1,232 | ||
Operating Income (Loss) | 258 | 558 | ||
Interest and other income (expense), net | 18 | 37 | ||
Income before provision for income taxes | 276 | 595 | ||
Provision for income taxes | 21 | 47 | ||
Net income (loss) | $ 255 | $ 548 | ||
Earnings Per Share, Basic | $ 0.84 | $ 1.80 | ||
Earnings Per Share, Diluted | $ 0.83 | $ 1.77 | ||
Accounting Standards Update 2014-09 [Member] | Product [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | $ 623 | $ 825 | ||
Cost of Revenue | 222 | 290 | ||
Accounting Standards Update 2014-09 [Member] | Service [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | 663 | 1,598 | ||
Cost of Revenue | 196 | 343 | ||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | 954 | 2,370 | ||
Cost of Revenue | 374 | 540 | ||
Gross Profit | 580 | 1,830 | ||
Operating Expenses | 610 | 1,232 | ||
Operating Income (Loss) | (30) | 598 | ||
Interest and other income (expense), net | 18 | 37 | ||
Income before provision for income taxes | (12) | 635 | ||
Provision for income taxes | 7 | 71 | ||
Net income (loss) | $ (19) | $ 564 | ||
Earnings Per Share, Basic | $ (0.06) | $ 1.85 | ||
Earnings Per Share, Diluted | $ (0.06) | $ 1.83 | ||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Product [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | $ 437 | $ 1,153 | ||
Cost of Revenue | 280 | 358 | ||
Calculated under Revenue Guidance in Effect before Topic 606 [Member] | Service [Member] | ||||
Condensed Income Statements, Captions [Line Items] | ||||
Net revenue | 517 | 1,217 | ||
Cost of Revenue | $ 94 | $ 182 |
(Fair Value Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
|||||
---|---|---|---|---|---|---|---|
Fair Value | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Total assets at fair value | $ 2,952 | $ 3,292 | |||||
Total liabilities at fair value | 146 | 189 | |||||
Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Total assets at fair value | 1,455 | 2,382 | |||||
Total liabilities at fair value | 12 | 11 | |||||
Significant Other Observable Inputs (Level 2) | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Total assets at fair value | 1,497 | 910 | |||||
Total liabilities at fair value | 10 | 56 | |||||
Fair Value, Inputs, Level 3 [Member] | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Total assets at fair value | 0 | 0 | |||||
Total liabilities at fair value | [1] | 124 | 122 | ||||
Short-term investments | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | U.S. Treasury securities | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 210 | ||||||
Short-term investments | Significant Other Observable Inputs (Level 2) | Corporate bonds | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 624 | ||||||
Short-term investments | Significant Other Observable Inputs (Level 2) | U.S. agency securities | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 73 | 78 | |||||
Short-term investments | Significant Other Observable Inputs (Level 2) | Debt Security, Government, Non-US [Member] | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 79 | 52 | |||||
Short-term investments | Significant Other Observable Inputs (Level 2) | Asset-backed Securities [Member] | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Asset-backed securities | 121 | ||||||
Short-term investments | Significant Other Observable Inputs (Level 2) | Certificates of Deposit [Member] | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 21 | ||||||
Short-Term Investments And Cash Equivalents | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | U.S. Treasury securities | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 281 | ||||||
Short-Term Investments And Cash Equivalents | Significant Other Observable Inputs (Level 2) | Corporate bonds | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 762 | ||||||
Short-Term Investments And Cash Equivalents | Significant Other Observable Inputs (Level 2) | Commercial paper | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 392 | 150 | |||||
Cash Equivalents | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Bank Time Deposits [Member] | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Cash equivalents | 24 | 286 | |||||
Cash Equivalents | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Money market funds | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Cash equivalents | 1,138 | 1,876 | |||||
Cash Equivalents | Significant Other Observable Inputs (Level 2) | Debt Security, Government, Non-US [Member] | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Available-for-sale of securities | 2 | ||||||
Other Current Assets and Other Assets [Domain] | Significant Other Observable Inputs (Level 2) | Foreign currency derivatives | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Foreign currency derivatives, assets | 49 | 4 | |||||
Other assets | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Deferred compensation plan assets | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Deferred compensation plan assets | [2] | 12 | 10 | ||||
Accrued and Other Current Liabilities and Other Liabilities | Significant Other Observable Inputs (Level 2) | Foreign currency derivatives | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Foreign currency derivatives, liabilities | 10 | 56 | |||||
Accrued and Other Current Liabilities and Other Liabilities | Fair Value, Inputs, Level 3 [Member] | Contingent consideration | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Accrued Liabilities, Fair Value Disclosure | [1] | 124 | |||||
Other liabilities | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Deferred Compensation Plan Liabilities | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Fair value, Deferred compensation plan assets | [2] | 12 | 11 | ||||
Other liabilities | Fair Value, Inputs, Level 3 [Member] | Contingent consideration | |||||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||||||
Accrued Liabilities, Fair Value Disclosure | [1] | $ 124 | $ 122 | ||||
|
(Fair Value Measurements Using Significant Unobservable Inputs (Level 3) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Mar. 31, 2018 |
|||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||||||
Acquisition-related contingent consideration | $ 2 | $ 0 | $ 2 | $ 0 | |||
Other liabilities | Fair Value, Inputs, Level 3 [Member] | Contingent consideration | |||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis | |||||||
Accrued Liabilities, Fair Value Disclosure | [1] | $ 124 | 124 | $ 122 | |||
Acquisition-related contingent consideration | $ 2 | ||||||
|
Fair Value Measurements Fair Value Measurements (Narrative) (Details) |
Sep. 30, 2018 |
Mar. 31, 2018 |
---|---|---|
Minimum | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Business Combination, Contingent Consideration, Liability, Measurement Input | 0.033 | 0.033 |
Maximum | ||
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ||
Business Combination, Contingent Consideration, Liability, Measurement Input | 0.037 | 0.036 |
Financial Instruments (Narrative) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
Sep. 30, 2017 |
Mar. 31, 2017 |
|||
---|---|---|---|---|---|---|---|
Financial Instruments | |||||||
Cash and Cash Equivalents, at Carrying Value | $ 2,881 | $ 4,258 | [1] | $ 2,067 | $ 2,565 | ||
|
Financial Instruments (Fair Value Of Short-Term Investments) (Details) - USD ($) $ in Millions |
6 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2018 |
Mar. 31, 2018 |
||||
Financial Instruments | |||||
Fair Value | $ 1,664 | $ 1,073 | [1] | ||
Short-term investments | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 1,671 | 1,082 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | (7) | (9) | |||
Fair Value | 1,664 | 1,073 | |||
Short-term investments | Corporate bonds | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 739 | 629 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | (3) | (5) | |||
Fair Value | 736 | 624 | |||
Short-term investments | U.S. Treasury securities | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 279 | 212 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | (2) | (2) | |||
Fair Value | 277 | 210 | |||
Short-term investments | U.S. agency securities | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 74 | 79 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | (1) | (1) | |||
Fair Value | 73 | 78 | |||
Short-term investments | Commercial paper | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 357 | 109 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | 357 | 109 | |||
Short-term investments | Debt Security, Government, Non-US [Member] | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 80 | 53 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | (1) | (1) | |||
Fair Value | 79 | 52 | |||
Short-term investments | Asset-backed Securities [Member] | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 121 | 0 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | 121 | 0 | |||
Short-term investments | Certificates of Deposit [Member] | |||||
Financial Instruments | |||||
Cost or Amortized Cost | 21 | 0 | |||
Gross Unrealized Gains | 0 | 0 | |||
Gross Unrealized Losses | 0 | 0 | |||
Fair Value | $ 21 | $ 0 | |||
|
Financial Instruments (Fair Value Of Short-Term Investments By Stated Maturity Date Schedule) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
|||
---|---|---|---|---|---|
Financial Instruments | |||||
Short-term investments, Fair Value | $ 1,664 | $ 1,073 | [1] | ||
Short-term investments | |||||
Financial Instruments | |||||
Due in 1 year or less, Amortized Cost | 1,218 | 521 | |||
Due in 1 year or less, Fair Value | 1,216 | 520 | |||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 451 | 561 | |||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 446 | 553 | |||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 2 | 0 | |||
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 2 | 0 | |||
Short-term investments, Amortized Cost | 1,671 | 1,082 | |||
Short-term investments, Fair Value | $ 1,664 | $ 1,073 | |||
|
Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Cash Flow Hedging [Member] | ||||
Derivative | ||||
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net | $ (1) | $ 5 | $ (16) | $ 22 |
Gain from Components Excluded from Assessment of Cash Flow Hedge Effectiveness | $ 7 | $ 14 | $ 5 | |
Designated as Hedging Instrument [Member] | ||||
Derivative | ||||
Maximum Remaining Maturity of Foreign Currency Derivatives | 18 months | |||
Not Designated as Hedging Instrument [Member] | ||||
Derivative | ||||
Maximum Remaining Maturity of Foreign Currency Derivatives | 3 months |
Derivative Financial Instruments Gross Notional Amounts and Fair Values for Currency Derivatives (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
---|---|---|
Foreign exchange forward contracts to purchase [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value of foreign currency contracts outstanding, Assets | $ 1 | $ 2 |
Fair value of foreign currency contracts outstanding, Liabilities | 7 | 4 |
Foreign exchange forward contracts to sell [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value of foreign currency contracts outstanding, Assets | 48 | 1 |
Fair value of foreign currency contracts outstanding, Liabilities | 0 | 48 |
Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to purchase [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional amount | 236 | 329 |
Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to sell [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional amount | 1,453 | 1,575 |
United States Dollar [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to purchase [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional amount | 233 | 210 |
United States Dollar [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to sell [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional amount | 565 | 257 |
Balance Sheet Hedging [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to purchase [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Current | 0 | 1 |
Derivative Liability, Current | 0 | 1 |
Balance Sheet Hedging [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to sell [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Current | 0 | 0 |
Derivative Liability, Current | $ 3 | $ 3 |
Location of Income (Expense) Recognized in Income on Derivative, Non-Designated Hedging Instruments (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Interest and Other Income (Expense), net | ||||
Derivative | ||||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ (5) | $ (3) | $ 4 | $ (9) |
Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 01, 2018 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Jun. 30, 2017 |
Mar. 31, 2017 |
||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (19) | $ (73) | $ (19) | $ (73) | $ (26) | $ (127) | [1] | $ (71) | $ (19) | |||
Other comprehensive income (loss) before reclassifications | 6 | 3 | 69 | (22) | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | 1 | (5) | 16 | (32) | ||||||||
Total other comprehensive income (loss), net of tax | 7 | (2) | 85 | (54) | ||||||||
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (7) | (3) | (7) | (3) | (8) | (8) | (3) | (3) | ||||
Other comprehensive income (loss) before reclassifications | 1 | 0 | 1 | 0 | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 | ||||||||
Total other comprehensive income (loss), net of tax | 1 | 0 | 1 | 0 | ||||||||
Unrealized Gains (Losses) on Derivative Instruments [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | 30 | (58) | 30 | (58) | 27 | (89) | (24) | 32 | ||||
Other comprehensive income (loss) before reclassifications | 2 | (29) | 80 | (68) | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | 1 | (5) | 16 | (22) | ||||||||
Total other comprehensive income (loss), net of tax | 3 | (34) | 96 | (90) | ||||||||
Foreign Currency Translation Adjustment [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (42) | (12) | (42) | (12) | $ (45) | $ (30) | $ (44) | $ (48) | ||||
Other comprehensive income (loss) before reclassifications | 3 | 32 | (12) | 46 | ||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | (10) | ||||||||
Total other comprehensive income (loss), net of tax | $ 3 | $ 32 | $ (12) | $ 36 | ||||||||
ASU 2018-02 [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 1 | |||||||||||
Difference between Revenue Guidance in Effect before and after Topic 606 [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | 22 | |||||||||||
Other comprehensive income (loss) before reclassifications | 22 | |||||||||||
Adjustments for adopted accounting pronouncements on April 1, 2018 [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (104) | |||||||||||
Adjustments for adopted accounting pronouncements on April 1, 2018 [Member] | Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (8) | |||||||||||
Adjustments for adopted accounting pronouncements on April 1, 2018 [Member] | Unrealized Gains (Losses) on Derivative Instruments [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (66) | |||||||||||
Adjustments for adopted accounting pronouncements on April 1, 2018 [Member] | Foreign Currency Translation Adjustment [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | (30) | |||||||||||
Accounting Standards Update 2014-09 [Member] | ||||||||||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax | $ (105) | |||||||||||
|
Effects on net income of amounts reclassified from accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 1 | $ (5) | $ 16 | $ (32) |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 |
Unrealized Gains (Losses) on Derivative Instruments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | 1 | (5) | 16 | (22) |
Unrealized Gains (Losses) on Derivative Instruments [Member] | Sales Revenue, Net | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | (2) | (3) | 12 | (22) |
Unrealized Gains (Losses) on Derivative Instruments [Member] | Research And Development [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | 3 | (2) | 4 | 0 |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 0 | 0 | $ 0 | (10) |
Accumulated Foreign Currency Adjustment Attributable to Parent [Member] | Interest Income [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 0 | $ (10) |
Business Combinations (Details) $ in Millions |
3 Months Ended | |
---|---|---|
May 03, 2018
USD ($)
|
Sep. 30, 2018 |
|
Business Acquisition [Line Items] | ||
Number of Businesses Acquired | 1 | |
GameFly, Inc. [Member] | ||
Business Acquisition [Line Items] | ||
Stock Granted, Value, Share-based Compensation, Gross | $ 4 | |
Payments to Acquire Businesses, Gross | 50 | |
Business Acquisition, Goodwill, Expected Tax Deductible Amount | 7 | |
Intangible Assets Acquired | $ 43 |
Goodwill And Acquisition-Related Intangibles, Net (Narrative) (Details) - USD ($) $ in Millions |
6 Months Ended | 12 Months Ended | |
---|---|---|---|
Sep. 30, 2018 |
Mar. 31, 2018 |
May 03, 2018 |
|
Minimum | |||
Finite-Lived Intangible Assets | |||
Finite-Lived Intangible Asset, Useful Life | 1 year | ||
Maximum | |||
Finite-Lived Intangible Assets | |||
Finite-Lived Intangible Asset, Useful Life | 9 years | ||
Weighted Average | |||
Finite-Lived Intangible Assets | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years 11 months | 4 years 3 months | |
GameFly, Inc. [Member] | |||
Finite-Lived Intangible Assets | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles | $ 43 | ||
GameFly, Inc. [Member] | Weighted Average | |||
Finite-Lived Intangible Assets | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 4 years |
Goodwill And Acquisition-Related Intangibles, Net (Schedule Of Changes In The Carrying Amount Of Goodwill) (Details) $ in Millions |
6 Months Ended | |||
---|---|---|---|---|
Sep. 30, 2018
USD ($)
| ||||
Goodwill [Roll Forward] | ||||
Goodwill, Gross, Beginning balance | $ 2,251 | |||
Accumulated impairment, beginning balance | (368) | |||
Goodwill, Net, Beginning balance | 1,883 | [1] | ||
Goodwill acquired | 14 | |||
Effects of foreign currency translation | (3) | |||
Goodwill, Gross, Ending balance | 2,262 | |||
Accumulated impairment, ending balance | (368) | |||
Goodwill, Net, Ending balance | $ 1,894 | |||
|
Goodwill And Acquisition-Related Intangibles, Net (Schedule Of Acquisition-Related Intangibles) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
|||
---|---|---|---|---|---|
Finite-Lived Intangible Assets | |||||
Gross carrying amount | $ 725 | $ 682 | |||
Accumulated amortization | (625) | (611) | |||
Acquisition-related intangibles, net | 100 | 71 | [1] | ||
Developed And Core Technology | |||||
Finite-Lived Intangible Assets | |||||
Gross carrying amount | 460 | 417 | |||
Accumulated amortization | (420) | (414) | |||
Acquisition-related intangibles, net | 40 | 3 | |||
Trade Names And Trademarks | |||||
Finite-Lived Intangible Assets | |||||
Gross carrying amount | 161 | 161 | |||
Accumulated amortization | (115) | (107) | |||
Acquisition-related intangibles, net | 46 | 54 | |||
Registered User Base And Other Intangibles | |||||
Finite-Lived Intangible Assets | |||||
Gross carrying amount | 5 | 5 | |||
Accumulated amortization | (5) | (5) | |||
Acquisition-related intangibles, net | 0 | 0 | |||
Carrier Contracts And Related | |||||
Finite-Lived Intangible Assets | |||||
Gross carrying amount | 85 | 85 | |||
Accumulated amortization | (85) | (85) | |||
Acquisition-related intangibles, net | 0 | 0 | |||
In Process Research and Development [Member] | |||||
Finite-Lived Intangible Assets | |||||
Gross carrying amount | 14 | 14 | |||
Accumulated amortization | 0 | 0 | |||
Acquisition-related intangibles, net | $ 14 | $ 14 | |||
|
Goodwill And Acquisition-Related Intangibles, Net (Schedule Of Amortization Of Intangible Assets) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | $ 6 | $ 2 | $ 12 | $ 3 |
Cost of service and other | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | 0 | 0 | 0 | 0 |
Cost of product | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | 1 | 0 | 2 | 0 |
Operating expenses | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | 6 | 2 | 12 | 3 |
Total amortization | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | $ 7 | $ 2 | $ 14 | $ 3 |
Goodwill And Acquisition-Related Intangibles, Net (Schedule Of Future Amortization Of Acquisition-Related Intangibles) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
[1] | ||
---|---|---|---|---|---|
Finite-Lived Intangible Assets | |||||
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | $ 12 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 22 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 22 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 22 | ||||
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 8 | ||||
Finite-Lived Intangible Assets, Amortization Expense, after Year Five | 0 | ||||
Finite-Lived Intangible Assets, Net | 100 | $ 71 | |||
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year through after Year Five [Member] | |||||
Finite-Lived Intangible Assets | |||||
Finite-Lived Intangible Assets, Net | $ 86 | ||||
|
Royalties And Licenses (Narrative) (Details) $ in Millions |
Sep. 30, 2018
USD ($)
|
---|---|
Developer/Licensor Commitments - Royalty Bearing Only | |
Royalties And Licenses | |
Unrecorded Unconditional Purchase Obligation | $ 790 |
Royalties And Licenses (Schedule Of Royalty-Related Assets) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
---|---|---|
Royalties and Licenses | ||
Royalty-related assets | $ 91 | $ 102 |
Other Current Assets | ||
Royalties and Licenses | ||
Royalty-related assets | 59 | 68 |
Other assets | ||
Royalties and Licenses | ||
Royalty-related assets | $ 32 | $ 34 |
Royalties And Licenses (Schedule Of Royalty-Related Liabilities) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
---|---|---|
Royalty Related Liabilities | ||
Royalty-related liabilities | $ 218 | $ 245 |
Accrued royalties | ||
Royalty Related Liabilities | ||
Royalty-related liabilities | 155 | 171 |
Other liabilities | ||
Royalty Related Liabilities | ||
Royalty-related liabilities | $ 63 | $ 74 |
Balance Sheet Details (Property And Equipment, Net Schedule) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Mar. 31, 2018 |
||||
Property and Equipment, Net [Line Items] | ||||||||
Depreciation expense | $ 30 | $ 30 | $ 60 | $ 59 | ||||
Property and equipment, gross | 1,376 | 1,376 | $ 1,376 | |||||
Less: accumulated depreciation | (936) | (936) | (923) | |||||
Property and equipment, net | 440 | 440 | 453 | [1] | ||||
Computer, equipment and software | ||||||||
Property and Equipment, Net [Line Items] | ||||||||
Property and equipment, gross | 742 | 742 | 744 | |||||
Buildings | ||||||||
Property and Equipment, Net [Line Items] | ||||||||
Property and equipment, gross | 342 | 342 | 336 | |||||
Leasehold improvements | ||||||||
Property and Equipment, Net [Line Items] | ||||||||
Property and equipment, gross | 135 | 135 | 139 | |||||
Equipment, furniture and fixtures, and other | ||||||||
Property and Equipment, Net [Line Items] | ||||||||
Property and equipment, gross | 82 | 82 | 84 | |||||
Land | ||||||||
Property and Equipment, Net [Line Items] | ||||||||
Property and equipment, gross | 66 | 66 | 66 | |||||
Construction in progress | ||||||||
Property and Equipment, Net [Line Items] | ||||||||
Property and equipment, gross | $ 9 | $ 9 | $ 7 | |||||
|
Balance Sheet Details (Accrued And Other Current Liabilities Schedule) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Apr. 01, 2018 |
Mar. 31, 2018 |
|||
---|---|---|---|---|---|---|
Balance Sheet Related Disclosures | ||||||
Other accrued expenses | $ 359 | $ 260 | ||||
Accrued compensation and benefits | 172 | 282 | ||||
Accrued royalties | 155 | 171 | ||||
Contract with Customer, Liability, Current | 108 | 0 | ||||
Deferred net revenue, other | 113 | 108 | ||||
Accrued and other current liabilities | 907 | $ 821 | [1] | |||
Other [Member] | ||||||
Balance Sheet Related Disclosures | ||||||
Deferred net revenue, other | $ 113 | $ 105 | ||||
|
Balance Sheet Details (Deferred Net Revenue) (Details) - USD ($) $ in Millions |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Sep. 30, 2018 |
Apr. 01, 2018 |
Mar. 31, 2018 |
||||
Deferred Revenue Arrangement [Line Items] | ||||||
Increase (Decrease) in Deferred Revenue | $ (360) | |||||
Deferred Revenue, Current | 574 | $ 1,622 | [1] | |||
Deferred net revenue, other | 113 | $ 108 | ||||
Recognition of Deferred Revenue | 1,488 | |||||
Deferred Revenue, Revenue Recognized | 1,019 | |||||
Deferred Revenue, Additions | 1,128 | |||||
Online enabled games [Member] | ||||||
Deferred Revenue Arrangement [Line Items] | ||||||
Deferred Revenue, Current | 574 | $ 949 | ||||
Other [Member] | ||||||
Deferred Revenue Arrangement [Line Items] | ||||||
Deferred net revenue, other | 113 | 105 | ||||
Noncurrent [Member] | ||||||
Deferred Revenue Arrangement [Line Items] | ||||||
Deferred Revenue, Noncurrent | 12 | 5 | ||||
Total [Member] | ||||||
Deferred Revenue Arrangement [Line Items] | ||||||
Deferred Revenue | $ 699 | $ 1,059 | ||||
|
Balance Sheet Details (Remaining Performance Obligations) (Details) $ in Millions |
Sep. 30, 2018
USD ($)
|
---|---|
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 12 months |
Total deferred revenue [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 699 |
Income Taxes (Narrative) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | 12 Months Ended | ||
---|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
Mar. 31, 2018 |
|
Income Tax Footnote Disclosure [Line Items] | |||||
Effective tax rates | 7.60% | 42.10% | 7.90% | 12.50% | |
Provision for income taxes | $ 21 | $ (16) | $ 47 | $ 89 | |
Maximum | |||||
Income Tax Footnote Disclosure [Line Items] | |||||
Amount of unrecognized tax benefits for which it is reasonably possible that there will be a reduction within the next 12 months | $ 16 | $ 16 | |||
Excluding excess tax benefit [Member] | |||||
Income Tax Footnote Disclosure [Line Items] | |||||
Effective tax rates | 9.80% | 10.60% | |||
Including U.S. Tax Cuts and Jobs Act impact [Member] | |||||
Income Tax Footnote Disclosure [Line Items] | |||||
United States statutory tax rate | 21.00% | 21.00% | |||
Total U.S. Tax Cuts and Jobs Act impact [Member] | |||||
Income Tax Footnote Disclosure [Line Items] | |||||
Provision for income taxes | $ 235 | ||||
Transition tax [Member] | |||||
Income Tax Footnote Disclosure [Line Items] | |||||
Provision for income taxes | $ 192 |
Financing Arrangement (Senior Notes) (Details) - USD ($) $ in Millions |
1 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Feb. 29, 2016 |
Sep. 30, 2018 |
Mar. 31, 2018 |
Feb. 24, 2016 |
||||
Debt Instrument [Line Items] | |||||||
Senior Notes, Noncurrent | $ 993 | $ 992 | [1] | ||||
Proceeds from Issuance of Senior Long-term Debt | $ 989 | ||||||
2021 Notes | |||||||
Debt Instrument [Line Items] | |||||||
Effective interest rate | 3.94% | ||||||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 2 years 5 months | ||||||
Long-term Debt | $ 600 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.70% | ||||||
Debt Instrument, Maturity Date | Mar. 01, 2021 | ||||||
2026 Notes | |||||||
Debt Instrument [Line Items] | |||||||
Effective interest rate | 4.97% | ||||||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 7 years 5 months | ||||||
Long-term Debt | $ 400 | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.80% | ||||||
Debt Instrument, Maturity Date | Mar. 01, 2026 | ||||||
Senior Notes | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt | $ 1,000 | ||||||
Debt Instrument, Unamortized Discount (Premium), Net | $ (1) | (2) | (2) | ||||
Debt Issuance Costs, Noncurrent, Net | (6) | (6) | $ (9) | ||||
Debt Instrument, Fair Value Disclosure | $ 1,024 | $ 1,038 | |||||
Senior Notes, Frequency of Periodic Payment | semiannually | ||||||
Debt Instrument, Redemption Price, Percentage | 100.00% | ||||||
Change of control repurchase event | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Redemption Price, Percentage | 101.00% | ||||||
|
Financing Arrangement (Line of Credit Facility) (Details) - Revolving Credit Facility [Member] $ in Millions |
6 Months Ended |
---|---|
Sep. 30, 2018
USD ($)
| |
Line of Credit Facility [Line Items] | |
Credit Facility, Maximum Borrowing Capacity | $ 500 |
Option To Request Additional Commitments On Credit Facility | 250 |
Debt issuance costs | $ 2 |
Credit Facility, Initiation Date | Mar. 19, 2015 |
Credit Facility, Expiration Date | Mar. 19, 2020 |
Line of Credit Facility Term | 5 years |
Financing Arrangement (Schedule Of Interest Expense Related To Notes) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Debt Instruments [Abstract] | ||||
Amortization of debt issuance costs | $ 0 | $ 0 | $ (1) | $ (1) |
Coupon interest expense | (11) | (11) | (21) | (21) |
Total interest expense | $ (11) | $ (11) | $ (22) | $ (22) |
Commitments And Contingencies (Narrative) (Details) - USD ($) $ in Millions |
Sep. 30, 2018 |
Mar. 31, 2018 |
||
---|---|---|---|---|
Loss Contingencies [Line Items] | ||||
Liability for Uncertainty in Income Taxes, Noncurrent | $ 248 | |||
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 140 | |||
Unrecorded Unconditional Purchase Obligation Payable in Common Stock Per Year | Maximum | ||||
Loss Contingencies [Line Items] | ||||
Unrecorded Unconditional Purchase Obligation | 10 | |||
Unrecorded Unconditional Purchase Obligation Payable in Common Stock | Maximum | ||||
Loss Contingencies [Line Items] | ||||
Unrecorded Unconditional Purchase Obligation | 30 | |||
Contingent consideration | Fair Value, Inputs, Level 3 [Member] | Other liabilities | ||||
Loss Contingencies [Line Items] | ||||
Accrued Liabilities, Fair Value Disclosure | [1] | $ 124 | $ 122 | |
|
Commitments And Contingencies (Minimum Contractual Obligations) (Details) $ in Millions |
Sep. 30, 2018
USD ($)
|
---|---|
Long Term Purchase Commitments | |
TotalUnconditionalPurchaseObligationBalanceSheetAmount | $ 2,716 |
TotalUnconditionalPurchaseObligationBalanceSheetAmountRemainingForCurrentFiscalYear | 159 |
Total Unconditional PurchaseObligationBalanceSheetAmountOneYearAfterFiscalYearEnd | 457 |
Total Unconditional Purchase Obligation Balance Sheet Amount Two Years After Fiscal Year End | 1,064 |
TotalUnconditionalPurchaseObligationBalanceSheetAmountThreeYearsAfterFiscalYearEnd | 359 |
TotalUnconditionalPurchaseObligationBalanceSheetAmountFourYearsAfterFiscalYearEnd | 124 |
Total Unconditional Purchase Obligation Balance Sheet Amount Five Years After Fiscal Year End | 47 |
TotalUnconditionalPurchaseObligationBalanceSheetAmountThereafter | 506 |
Developer/Licensor Commitments - Royalty and Non-Royalty Bearing | |
Long Term Purchase Commitments | |
Unrecorded Total | 790 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 64 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 229 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 257 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 196 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 43 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 1 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 0 |
Marketing | |
Long Term Purchase Commitments | |
Unrecorded Total | 303 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 28 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 89 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 85 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 75 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 26 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 0 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 0 |
Operating leases | |
Long Term Purchase Commitments | |
Unrecorded Total | 219 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 18 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 41 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 40 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 33 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 26 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 19 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 42 |
Senior Notes Interest | |
Long Term Purchase Commitments | |
Unrecorded Total | 196 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 18 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 41 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 41 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 19 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 20 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 19 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 38 |
Other unrecorded purchase obligations | |
Long Term Purchase Commitments | |
Unrecorded Total | 90 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 15 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 32 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 15 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 9 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 6 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 3 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 10 |
Total Unrecorded Unconditional Purchase Obligation [Domain] | |
Long Term Purchase Commitments | |
Unrecorded Total | 1,598 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 143 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 432 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 438 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 332 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 121 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 42 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 90 |
Transition tax [Member] | |
Long Term Purchase Commitments | |
Recorded Total | 25 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 1 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 3 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 5 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 16 |
Total Recorded Unconditional Purchase Obligation [Domain] | |
Long Term Purchase Commitments | |
Recorded Total | 1,118 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 16 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 25 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 626 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 27 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 3 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 5 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 416 |
Senior Notes and Interest | |
Long Term Purchase Commitments | |
Recorded Total | 1,003 |
Senior Notes Interest | |
Long Term Purchase Commitments | |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 3 |
Senior Notes | |
Long Term Purchase Commitments | |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 600 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 400 |
Licensing and lease obligations | |
Long Term Purchase Commitments | |
Recorded Total | 90 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 12 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 25 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 26 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 27 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | $ 0 |
Commitments And Contingencies Subsequent Events (Details) $ in Millions |
Sep. 30, 2018
USD ($)
|
---|---|
Subsequent Event [Member] | |
Subsequent Event [Line Items] | |
Unrecorded Unconditional Purchase Obligation | $ 137 |
Developer And Licensor - Royalty and Non-Royalty Bearing | |
Subsequent Event [Line Items] | |
Unrecorded Unconditional Purchase Obligation | $ 790 |
Stock-Based Compensation (Narrative) (Details) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
May 11, 2018 |
May 08, 2017 |
May 04, 2015 |
|
Market-Based Restricted Stock Units [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 64 | $ 64 | |||||
Market-Based Restricted Stock Units [Member] | Minimum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 0.00% | 0.00% | |||||
Market-Based Restricted Stock Units [Member] | Maximum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 200.00% | 200.00% | |||||
Performance Based Restricted Stock Units [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 21 | $ 21 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | ||||||
Performance Based Restricted Stock Units [Member] | Minimum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 0.00% | 0.00% | |||||
Performance Based Restricted Stock Units [Member] | Maximum | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 200.00% | 200.00% | |||||
Restricted Stock Rights [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 578 | $ 578 | |||||
Weighted-average service period | 2 years 2 months | ||||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 493 | $ 493 | |||||
May 2015 Repurchase Program [Member] [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Amount of common stock authorized for repurchase | $ 1,000 | ||||||
Stock Repurchased and Retired During Period, Shares | 0.0 | 0.0 | 0.0 | 0.3 | |||
Repurchase and retirement of common stock | $ 0 | $ 0 | $ 0 | $ 31 | |||
May 2015 Repurchase Program [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock Repurchased and Retired During Period, Shares | 0.3 | ||||||
Repurchase and retirement of common stock | $ 31 | ||||||
May 2017 Repurchase Program [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Amount of common stock authorized for repurchase | $ 1,200 | ||||||
Stock Repurchased and Retired During Period, Shares | 0.0 | 1.3 | 0.6 | 2.4 | |||
Repurchase and retirement of common stock | $ 0 | $ 153 | $ 76 | $ 272 | |||
May 2018 Repurchase Program [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Amount of common stock authorized for repurchase | $ 2,400 | ||||||
Stock Repurchased and Retired During Period, Shares | 2.3 | 4.0 | |||||
Repurchase and retirement of common stock | $ 299 | $ 523 | |||||
Repurchase Program, Total [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Stock Repurchased and Retired During Period, Shares | 2.3 | 1.3 | 4.6 | 2.7 | |||
Repurchase and retirement of common stock | $ 299 | $ 153 | $ 599 | $ 303 | |||
Stock-based compensation expense [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Deferred Income Tax Expense (Benefit) | $ 9 | $ 12 | $ 17 | $ 22 |
Stock-Based Compensation (Schedule Of Assumptions Used In Black-Scholes Model) (Details) |
3 Months Ended | |
---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected dividends | 0.00% | 0.00% |
Minimum | Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 2.20% | 1.10% |
Expected volatility, minimum | 29.00% | 28.00% |
Expected Term | 6 months | 6 months |
Maximum | Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Risk-free interest rate, maximum | 2.50% | 1.20% |
Expected volatility, maximum | 29.00% | 28.00% |
Expected Term | 12 months | 12 months |
Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense By Statement Of Operations) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 66 | $ 62 | $ 136 | $ 110 |
Cost of Sales [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 1 | 1 | 2 | 2 |
Research And Development [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 39 | 36 | 86 | 64 |
Marketing and Sales [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 9 | 9 | 16 | 16 |
General And Administrative [Member] | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 17 | $ 16 | $ 32 | $ 28 |
Stock-Based Compensation (Schedule Of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Millions |
6 Months Ended |
---|---|
Sep. 30, 2018
USD ($)
$ / shares
shares
| |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |
Options, Outstanding, Beginning Balance | shares | 1,615 |
Options, Granted | shares | 2 |
Options, Exercised | shares | (184) |
Options, Outstanding, Ending Balance | shares | 1,433 |
Options, Vested and expected to vest | shares | 1,433 |
Options, Exercisable | shares | 1,433 |
Weighted-average exercise price of options outstanding, beginning balance | $ / shares | $ 30.28 |
Weighted-average exercise price of options granted during period | $ / shares | 123.80 |
Weighted-average exercise price of options exercised during the period | $ / shares | 31.48 |
Weighted-average exercise price of options outstanding, ending balance | $ / shares | 30.28 |
Weighted-average exercise price of options vested and expected to vest | $ / shares | 30.28 |
Weighted-average exercise price of options exercisable | $ / shares | $ 30.28 |
Weighted-average remaining contractual term of options outstanding | 5 years 1 month 6 days |
Weighted-average remaining contractual term of options vested and expected to vest | 5 years 1 month 6 days |
Weighted-average remaining contractual term of options exercisable | 5 years 1 month 6 days |
Aggregate intrinsic value of options outstanding | $ | $ 129 |
Aggregate intrinsic value of options vested and expected to vest | $ | 129 |
Aggregate intrinsic value of options exercisable | $ | $ 129 |
Stock-Based Compensation (Schedule Of Restricted Stock Rights Activity, Excluding Performance-Based Activity) (Details) - Restricted Stock Rights [Member] shares in Thousands |
6 Months Ended |
---|---|
Sep. 30, 2018
$ / shares
shares
| |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Outstanding balance | shares | 5,948 |
Granted | shares | 1,626 |
Vested | shares | (1,757) |
Forfeited or cancelled | shares | (359) |
Outstanding balance | shares | 5,458 |
Weighted-average grant date fair value, beginning balance | $ / shares | $ 94.57 |
Weighted-average grant date fair value, vested during period | $ / shares | 140.68 |
Weighted-average grant date fair value, vested during period | $ / shares | 81.71 |
Weighted-average grant date fair value, forfeited or cancelled during period | $ / shares | 108.16 |
Weighted-average grant date fair value, ending balance | $ / shares | $ 111.55 |
Stock-Based Compensation (Schedule Of Performance-Based Restricted Stock Unit Activity) (Details) - Restricted Stock Rights [Member] shares in Thousands |
6 Months Ended |
---|---|
Sep. 30, 2018
$ / shares
shares
| |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Granted | shares | 0 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Outstanding balance | shares | 796 |
Forfeited or cancelled | shares | (217) |
Outstanding balance | shares | 579 |
Weighted-average grant date fair value, beginning balance | $ / shares | $ 110.51 |
Weighted-average grant date fair value, vested during period | $ / shares | 0.00 |
Weighted-average grant date fair value, forfeited or cancelled during period | $ / shares | 110.51 |
Weighted-average grant date fair value, ending balance | $ / shares | $ 110.51 |
Non-GAAP net revenue [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share Based Compensation Arrangement Performance-based Milestone Percentage | 50.00% |
Free cash flow [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Share Based Compensation Arrangement Performance-based Milestone Percentage | 50.00% |
Stock-Based Compensation (Schedule Of Market-Based Restricted Stock Unit Activity) (Details) - Market-Based Restricted Stock Units [Member] shares in Thousands |
6 Months Ended |
---|---|
Sep. 30, 2018
$ / shares
shares
| |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Outstanding balance | shares | 1,342 |
Granted | shares | 573 |
Vested | shares | (415) |
Forfeited or cancelled | shares | (525) |
Outstanding balance | shares | 975 |
Weighted-average grant date fair value, beginning balance | $ / shares | $ 118.35 |
Weighted-average grant date fair values of market-based restricted stock rights granted | $ / shares | 185.24 |
Weighted-average grant date fair value, vested during period | $ / shares | 98.48 |
Weighted-average grant date fair value, forfeited or cancelled during period | $ / shares | 135.76 |
Weighted-average grant date fair value, ending balance | $ / shares | $ 156.76 |
Stock-Based Compensation Schedule of Share Repurchases (Details) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | |||||
---|---|---|---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
May 11, 2018 |
May 08, 2017 |
May 04, 2015 |
|
May 2015 Repurchase Program [Member] [Member] | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock Repurchased and Retired During Period, Value | $ 0 | $ 0 | $ 0 | $ 31 | |||
Stock Repurchase Program, Authorized Amount | $ 1,000 | ||||||
Stock Repurchased and Retired During Period, Shares | 0.0 | 0.0 | 0.0 | 0.3 | |||
May 2017 Repurchase Program [Member] | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock Repurchased and Retired During Period, Value | $ 0 | $ 153 | $ 76 | $ 272 | |||
Stock Repurchase Program, Authorized Amount | $ 1,200 | ||||||
Stock Repurchased and Retired During Period, Shares | 0.0 | 1.3 | 0.6 | 2.4 | |||
May 2018 Repurchase Program [Member] | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock Repurchased and Retired During Period, Value | $ 299 | $ 523 | |||||
Stock Repurchase Program, Authorized Amount | $ 2,400 | ||||||
Stock Repurchased and Retired During Period, Shares | 2.3 | 4.0 | |||||
Repurchase Program, Total | |||||||
Equity, Class of Treasury Stock [Line Items] | |||||||
Stock Repurchased and Retired During Period, Value | $ 299 | $ 153 | $ 599 | $ 303 | |||
Stock Repurchased and Retired During Period, Shares | 2.3 | 1.3 | 4.6 | 2.7 |
Earnings (Loss) Per Share (Narrative) (Details) shares in Millions |
6 Months Ended |
---|---|
Sep. 30, 2017
shares
| |
Antidilutive Securities Excluded from Computation of Earnings (Loss) Per Share | |
Antidilutive Securities Excluded from Computation of Earnings (Loss) Per Share, Amount | 3 |
Earnings (Loss) Per Share Earnings (Loss) Per Share (Computation Of Basic Earnings And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Antidilutive Securities Excluded from Computation of Earnings (Loss) Per Share | ||||
Net income (loss) | $ 255 | $ (22) | $ 548 | $ 622 |
Weighted Average Number of Shares Outstanding, Basic | 305 | 309 | 305 | 309 |
Dilutive potential common shares related to stock award plans and from assumed exercise of stock options | 2 | 0 | 4 | 4 |
Weighted Average Number of Shares Outstanding, Diluted | 307 | 309 | 309 | 313 |
Earnings Per Share, Basic | $ 0.84 | $ (0.07) | $ 1.80 | $ 2.01 |
Earnings Per Share, Diluted | $ 0.83 | $ (0.07) | $ 1.77 | $ 1.99 |
Segment Information (Net Revenue By Revenue Composition ) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 1,286 | $ 959 | $ 2,423 | $ 2,408 |
Live services, net revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 412 | 408 | 1,022 | 909 |
Mobile, net revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 220 | 158 | 451 | 327 |
Full game downloads, net revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 148 | 123 | 264 | 332 |
Total Digital, net revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 780 | 689 | 1,737 | 1,568 |
Total Packaged goods and other, net revenue [Member] | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 506 | $ 270 | $ 686 | $ 840 |
Segment Information (Net Revenue By Geographic Area) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Revenue from External Customer [Line Items] | ||||
Net revenue | $ 1,286 | $ 959 | $ 2,423 | $ 2,408 |
North America | ||||
Revenue from External Customer [Line Items] | ||||
Net revenue | 475 | 427 | 917 | 1,038 |
International | ||||
Revenue from External Customer [Line Items] | ||||
Net revenue | $ 811 | $ 532 | $ 1,506 | $ 1,370 |
Segment Information (Net Revenue By Platform) (Details) - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2018 |
Sep. 30, 2017 |
Sep. 30, 2018 |
Sep. 30, 2017 |
|
Net Revenue by Platform [Line Items] | ||||
Net revenue | $ 1,286 | $ 959 | $ 2,423 | $ 2,408 |
Total consoles | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | 917 | 595 | 1,622 | 1,629 |
PC and Browsers, net revenue | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | 149 | 196 | 346 | 436 |
Mobile, net revenue | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | 220 | 162 | 453 | 333 |
Other, net revenue | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | $ 0 | $ 6 | $ 2 | $ 10 |
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