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STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-based Compensation Expenses The following table summarizes stock-based compensation expense included in our Consolidated Statements of Operations:
 Fiscal Year Ended March 31,
202320222021
Cost of revenue$(9.5)$48.4 $8.7 
Selling and marketing95.2 30.0 18.3 
General and administrative115.5 66.5 56.9 
Research and development116.6 38.1 26.6 
Stock-based compensation expense before income taxes317.8 183.0 110.5 
Income tax provision/(benefit)(45.8)(35.4)(21.7)
Stock-based compensation expense, net of income tax benefit272.0 147.6 88.8 
Capitalized stock-based compensation expense$74.4 $82.1 $30.1 
Schedule of Restricted Stock Awarded Activity to Zelnickmedia In connection with the 2017 Management Agreement and the 2022 Management Agreement, we granted restricted stock units (in thousands) to ZMC (see Note 3 - Management Agreement) as follows:
 Fiscal Year Ended March 31,
20232022
Time-based192 51 
Market-based(1)
510 93 
Performance-based(1)
  
IP18 16 
Recurrent Consumer Spending ("RCS")153 16 
Total Performance-based171 32 
Total Restricted Stock Units873 176 
(1) Represents the maximum number of shares eligible to vest.
Schedule of Activity in Non-Vested Restricted Stock Awards to Employees and Zelnickmedia The following table summarizes the activity in non-vested restricted stock units to employees and ZMC under our stock-based compensation plans with time-based restricted stock awards presented at 100% of target number of shares that may potentially vest:
Shares
(in millions)
Weighted
Average Fair
Value on
Grant Date
Non-vested restricted stock units at March 31, 20221.8 $155.36 
Granted2.1 119.17 
Converted4.0 116.12 
Vested(2.2)126.71 
Forfeited(0.6)121.59 
Non-vested restricted stock units at March 31, 20235.1 $126.34 
The following table summarizes the activity in non-vested restricted stock units to employees and ZMC under our stock-based compensation plans with market-based restricted stock awards presented at 100% of target number of shares that may potentially vest:
Shares
(in millions)
Weighted
Average Fair
Value on
Grant Date
Non-vested restricted stock units at March 31, 20220.3 $242.90 
Granted0.5 177.51 
Converted0.1 116.12 
Vested(0.2)209.82 
Forfeited— 208.56 
Non-vested restricted stock units at March 31, 20230.7 $183.72 
The following table summarizes the activity in non-vested restricted stock units to employees and ZMC under our stock-based compensation plans with performance restricted stock awards presented at 100% of target number of shares that may potentially vest:
Shares
(in millions)
Weighted
Average Fair
Value on
Grant Date
Non-vested restricted stock units at March 31, 20223.6 $112.81 
Granted1.0 125.13 
Converted0.2 86.09 
Vested(0.2)117.36 
Forfeited(0.7)119.63 
Non-vested restricted stock units at March 31, 20233.9 $113.28 
Schedule of Weighted-Average Assumptions Used to Value Outstanding Market-Based Restricted Shares The following table summarizes the weighted-average assumptions used in the Monte Carlo Simulation to estimate the fair value of market-based awards:
 Fiscal Year Ended March 31,
 202320222021
Employee
Market-Based
Non-Employee
Market-Based
Employee
Market-Based
Non-Employee
Market-Based
Employee
Market-Based
Non-Employee
Market-Based
Risk-free interest rate
2.6 - 2.8%
2.4 - 2.8%
0.1 %0.2 %0.2 %0.2 %
Expected stock price volatility
35.9 - 37.6%
34.2 - 37.6%
37.3 %36.3 %40.7 %40.8 %
Expected service period (years)
 1.8 - 2.8
1.8 - 2.8
1.51.01.51.0
DividendsNoneNoneNoneNoneNoneNone
Fair Value Measurement and Valuation Techniques The following table summarizes the assumptions used in the Black-Scholes valuation model to value our purchase rights:
 Fiscal Year Ended March 31,
20232022
Risk-free interest rate
1.4 - 4.6%
—%
Expected stock price volatility
27.7%
27.7% - 33.2%
Expected service period (years)0.50.5
DividendsNoneNone
Share-Based Payment Arrangement, Option, Activity
The following table shows stock option activity for the fiscal year ended March 31, 2023:
Shares
(in millions)
Weighted
Average Fair
Value on
Grant Date
Aggregate Intrinsic Value of Stock Options OutstandingWeighted Average Contractual Term (In Years)
Balance as of March 31, 2022
— $— $— — 
Granted— — 
Converted1.6 71.66 
Vested(0.9)50.50 
Forfeited— 70.41 
Balance as of March 31, 2023
0.7 $49.54 $46.5 4.53
As of March 31, 2023
Exercisable options0.7 $49.65 $45.5 4.47
Vested and expected to vest  $43.51 $1.0 7.42
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
The following table presents the weighted-average grant date fair value and related assumptions used to estimate the fair value of our stock options:
 Fiscal Year Ended March 31,
2023
Risk-free interest rate
0.6-2.8%
Expected stock price volatility
36.0-46.5%
Expected service period (years)
0.1-5.1
DividendsNone