Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

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, 2021			March 31, 2020			March 31, 2019
	(In thousands)
United States	$	48,443		$	27,000		$	(102,643	)
Foreign		(22,457	)		(25,572	)		(7,838	)
	$	25,986		$	1,428		$	(110,481	)

Summary of (Provision for) Benefit from Income Taxes

The (provision for) benefit from income taxes includes the following:

	Fiscal Years Ended
	March 31, 2021			March 31, 2020			March 31, 2019
	(In thousands)
Current tax provision
Federal	$	(8,573	)	$	(5,935	)	$	(821	)
State		(3,386	)		(1,465	)		(690	)
Foreign		449			(327	)		(1,619	)
		(11,510	)		(7,727	)		(3,130	)
Deferred tax benefit
Federal		708			9,889			34,099
State		823			5,797			8,738
Foreign		538			(44	)		1,307
		2,069			15,642			44,144
Total (provision for) benefit from income taxes	$	(9,441	)	$	7,915		$	41,014

Components of Net Deferred Tax Assets

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

	As of
	March 31, 2021			March 31, 2020
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	187,900		$	217,883
Tax credit carryforwards		272,126			248,425
Operating lease liabilities		88,259			78,114
Deferred revenue		21,345			24,840
Other		82,222			62,691
Valuation allowance		(47,076	)		(42,621	)
Total deferred tax assets		604,776			589,332
Deferred tax liabilities:
Intangible assets		(71,335	)		(71,116	)
Property, equipment and satellites		(142,899	)		(142,049	)
Operating lease assets		(83,065	)		(73,446	)
Other		(34,208	)		(27,374	)
Total deferred tax liabilities		(331,507	)		(313,985	)
Net deferred tax assets	$	273,269		$	275,347

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

A reconciliation of the (provision for) 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, 2021			March 31, 2020			March 31, 2019
	(In thousands)
Tax (provision) benefit at federal statutory rate	$	(5,457	)	$	(300	)	$	23,201
State tax (provision) benefit, net of federal benefit		(5,067	)		(1,093	)		1,815
Tax credits, net of valuation allowance		24,272			25,153			26,836
Non-deductible compensation		(5,728	)		(7,150	)		(4,527	)
Non-deductible meals and entertainment		(386	)		(1,075	)		(929	)
Stock-based compensation		(9,901	)		780			180
Change in federal tax rate due to 2020 CARES Act and 2017 Tax Cuts and Jobs Act	—				567		—
Change in state effective tax rate		(2,360	)		(14	)		(684	)
Foreign effective tax rate differential, net of valuation allowance		(3,046	)		(5,707	)		(1,552	)
Unremitted subsidiary gains		(1,682	)		(2,742	)		(1,388	)
Other		(86	)		(504	)		(1,938	)
Total (provision for) benefit from income taxes	$	(9,441	)	$	7,915		$	41,014

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, 2021			March 31, 2020			March 31, 2019
	(In thousands)
Balance, beginning of fiscal year	$	80,591		$	68,156		$	55,474
Decrease related to prior year tax positions		(828	)		(949	)		(1,183	)
Increases related to current year tax positions		13,199			13,384			13,865
Balance, end of fiscal year	$	92,962		$	80,591		$	68,156