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FAIR VALUE MEASUREMENTS
 3 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Recurring fair value measurements
The carrying amounts of our financial instruments, including cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, prepaid expenses and other, accounts payable, and accrued expenses and other current liabilities, approximate fair value because of their short maturities.
We follow a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of "observable inputs" and minimize the use of "unobservable inputs." The three levels of inputs used to measure fair value are as follows:
•Level 1—Quoted prices in active markets for identical assets or liabilities.
•Level 2—Observable inputs other than quoted prices included in Level 1, such as quoted prices for markets that are not active or other inputs that are observable or can be corroborated by observable market data.
•Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies, and similar techniques that use significant unobservable inputs.
The table below segregates all assets and liabilities that are measured at fair value on a recurring basis (which is measured at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date.

June 30, 2025
 Quoted prices
in active
markets for
identical
assets
(level 1)		Significant
other
observable
inputs
(level 2)		Significant
unobservable
inputs
(level 3)		Total
Assets:
Cash and cash equivalents:
Money market funds$1,506.8 $— $— $1,506.8 
Bank-time deposits251.1 — — 251.1 
Short-term investments:
Bank-time deposits10.1 — — 10.1 
Restricted cash and cash equivalents:
Money market funds11.9 — — 11.9 
Bank-time deposits1.6 — — 1.6 
Restricted cash and cash equivalents, long term:
Money market funds76.7 — — 76.7 
Other assets:
Private equity— — 25.6 25.6 
Equity securities5.7 — — 5.7 
Foreign currency forward contracts— 0.1 — 0.1 
Total financial assets$1,863.9 $0.1 $25.6 $1,889.6 
Liabilities:
Long-term debt, net:
Convertible notes— 31.1 — 31.1 
Total financial liabilities$— $31.1 $— $31.1 
 
March 31, 2025
 Quoted prices in active markets for identical assets (level 1)Significant other observable inputs (level 2)Significant unobservable inputs (level 3)Total
Assets:
Cash and cash equivalents:
Money market funds$842.6 $— $— $842.6 
Bank-time deposits296.4 — — 296.4 
Short-term investments:
Bank-time deposits9.4 — — 9.4 
Restricted cash and cash equivalents:
Money market funds12.0 — — 12.0 
Bank-time deposits1.9 — — 1.9 
Restricted cash and cash equivalents, long term:
Money market funds88.2 — — 88.2 
Other assets:
Equity securities7.3 — — 7.3 
Private equity— — 24.3 24.3 
Total financial assets$1,257.8 $— $24.3 $1,282.1 
Liabilities:
Accrued expenses and other current liabilities:
Foreign currency forward contracts$— $0.1 $— $0.1 
Long-term debt, net:
Convertible notes— 28.5 — 28.5 
Total financial liabilities$— $28.6 $— $28.6 
We did not have any transfers between Level 1 and Level 2 fair value measurements, nor did we have any transfers into or out of Level 3 during the three months ended June 30, 2025.
Nonrecurring fair value measurements
We hold equity investments in certain unconsolidated entities without a readily determinable fair value. These strategic investments represent less than a 20% ownership interest in each of the privately-held affiliates, and we do not maintain significant influence over or control of the entities. We have elected the practical expedient in Topic 321, Investments-Equity Securities, to measure these investments at cost less any impairment, adjusted for observable price changes, if any. Based on these considerations, we estimate that the carrying value of the acquired shares represents the fair value of the investment. At June 30, 2025, and March 31, 2025, we held $8.0 and $8.0, respectively, of such investments in Other assets within our Condensed Consolidated Balance Sheet.