Income Taxes (Tables)

12 Months Ended

Mar. 31, 2020

Components of Income (loss) Before Income Taxes

The components of income (loss) before income taxes by jurisdiction are as follows:

	Fiscal Years Ended
	March 31, 2020			March 31, 2019			March 31, 2018
	(In thousands)
United States	$	27,000		$	(102,643	)	$	(92,767	)
Foreign		(25,572	)		(7,838	)		(12,703	)
	$	1,428		$	(110,481	)	$	(105,470	)

Summary of Benefit from Income Taxes

The benefit from income taxes includes the following:

	Fiscal Years Ended
	March 31, 2020			March 31, 2019			March 31, 2018
	(In thousands)
Current tax provision
Federal	$	(5,935	)	$	(821	)	$	(284	)
State		(1,465	)		(690	)		(401	)
Foreign		(327	)		(1,619	)		(953	)
		(7,727	)		(3,130	)		(1,638	)
Deferred tax benefit
Federal		9,889			34,099			24,833
State		5,797			8,738			10,450
Foreign		(44	)		1,307			1,572
		15,642			44,144			36,855
Total benefit from income taxes	$	7,915		$	41,014		$	35,217

Components of Net Deferred Tax Assets

Significant components of the Company’s net deferred tax assets are as follows:

	As of
	March 31, 2020			March 31, 2019
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	217,883		$	197,486
Tax credit carryforwards		248,425			220,060
Operating lease liabilities		78,114		—
Deferred revenue		24,840			24,421
Other		62,691			57,246
Valuation allowance		(42,621	)		(33,499	)
Total deferred tax assets		589,332			465,714
Deferred tax liabilities:
Intangible assets		(71,116	)		(72,776	)
Property, equipment and satellites		(142,049	)		(113,188	)
Operating lease assets		(73,446	)	—
Other		(27,374	)		(21,160	)
Total deferred tax liabilities		(313,985	)		(207,124	)
Net deferred tax assets	$	275,347		$	258,590

Reconciliation of Benefit from Income Taxes to Amount Computed by Applying Statutory Federal Income Tax Rate to Income (Loss) before Income Taxes

A reconciliation of the benefit from income taxes to the amount computed by applying the statutory federal income tax rate to income (loss) before income taxes is as follows:

	Fiscal Years Ended
	March 31, 2020			March 31, 2019			March 31, 2018
	(In thousands)
Tax (provision) benefit at federal statutory rate	$	(300	)	$	23,201		$	22,149
State tax (provision) benefit, net of federal benefit		(1,093	)		1,815			2,605
Tax credits, net of valuation allowance		25,153			26,836			21,898
Non-deductible compensation		(7,150	)		(4,527	)		(2,852	)
Non-deductible meals and entertainment		(1,075	)		(929	)		(727	)
Stock-based compensation		780			180			799
Change in federal tax rate due to 2020 CARES Act and 2017 Tax Reform		567		—				(5,335	)
Change in state effective tax rate		(14	)		(684	)		(235	)
Foreign effective tax rate differential, net of valuation allowance		(5,707	)		(1,552	)		(2,054	)
Unremitted subsidiary gains		(2,742	)		(1,388	)		(864	)
Other		(504	)		(1,938	)		(167	)
Total benefit from income taxes	$	7,915		$	41,014		$	35,217

Summary of Activity Related to Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s unrecognized tax benefits:

	As of
	March 31, 2020			March 31, 2019			March 31, 2018
	(In thousands)
Balance, beginning of fiscal year	$	68,156		$	55,474		$	49,066
Decrease related to prior year tax positions		(949	)		(1,183	)		(155	)
Increases related to current year tax positions		13,384			13,865			6,563
Balance, end of fiscal year	$	80,591		$	68,156		$	55,474