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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Jul. 24, 2019
Cover page.
Entity Registrant Name	TAKE-TWO INTERACTIVE SOFTWARE, INC.
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2019
Entity File Number	001-34003
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0350842
Entity Address, Address Line One	110 West 44th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	646
Local Phone Number	536-2842
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	TTWO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		113,178,103
Entity Central Index Key	0000946581
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-31

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Current assets:
Cash and cash equivalents	$ 984,625	$ 826,525
Short-term investments	557,653	744,485
Restricted cash	627,370	565,461
Accounts receivable, net of allowances of $445 and $995 at June 30, 2019 and March 31, 2019, respectively	352,625	395,729
Inventory	23,847	28,200
Software development costs and licenses	18,070	28,880
Deferred cost of goods sold	36,565	51,867
Prepaid expenses and other	220,324	186,688
Total current assets	2,821,079	2,827,835
Fixed assets, net	126,393	127,882
Right-of-use assets	124,859	0
Software development costs and licenses, net of current portion	633,597	603,436
Deferred cost of goods sold, net of current portion	525	1,028
Goodwill	391,404	381,717
Other intangibles, net	68,008	73,115
Deferred tax assets	108,979	134,732
Other assets	91,378	93,320
Total assets	4,366,222	4,243,065
Current liabilities:
Accounts payable	55,379	72,797
Accrued expenses and other current liabilities	1,038,748	1,035,695
Deferred revenue	826,085	843,302
Lease liabilities	21,794	0
Total current liabilities	1,942,006	1,951,794
Non-current deferred revenue	22,097	21,058
Non-current lease liabilities	125,128	0
Other long-term liabilities	190,664	229,633
Total liabilities	2,279,895	2,202,485
Commitments and contingencies (See Note 13)
Stockholders' equity:
Preferred stock, $.01 par value, 5,000 shares authorized; no shares issued and outstanding at June 30, 2019 and March 31, 2019	0	0
Common stock, $.01 par value, 200,000 shares authorized; 135,527 and 134,602 shares issued and 113,106 and 112,181 outstanding at June 30, 2019 and March 31, 2019, respectively	1,355	1,346
Additional paid-in capital	2,025,626	2,019,369
Treasury stock, at cost; 22,421 common shares at June 30, 2019 and March 31, 2019	(820,572)	(820,572)
Retained earnings	923,906	877,626
Accumulated other comprehensive loss	(43,988)	(37,189)
Total stockholders' equity	2,086,327	2,040,580
Total stockholders' equity	$ 4,366,222	$ 4,243,065

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Statement of Financial Position [Abstract]
Accounts receivable, allowances (in dollars)	$ 445	$ 995
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	135,527,000	134,602,000
Common stock, shares outstanding	113,106,000	112,181,000
Treasury stock, shares	22,421,000	22,421,000

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Net revenue	$ 540,459	$ 387,982
Cost of goods sold	241,469	131,365
Gross profit	298,990	256,617
Selling and marketing	91,821	58,306
General and administrative	74,833	67,735
Research and development	68,963	50,712
Depreciation and amortization	11,257	9,260
Business reorganization	386	(242)
Total operating expenses	247,260	185,771
Income from operations	51,730	70,846
Interest and other, net	10,425	6,601
Income before income taxes	62,155	77,447
Provision for income taxes	15,875	5,754
Net income	$ 46,280	$ 71,693
Earnings per share:
Basic earnings per share (in dollars per share)	$ 0.41	$ 0.63
Diluted earnings per share (in dollars per share)	$ 0.41	$ 0.62

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 46,280	$ 71,693
Other comprehensive income (loss):
Foreign currency translation adjustment	(8,797)	(26,817)
Cash flow hedges:
Change in unrealized gains (losses)	202	991
Reclassification to earnings	1,083	0
Tax effect on effective cash flow hedges	(9)	133
Change in fair value of effective cash flow hedge	1,276	1,124
Available-for-sale securities:
Unrealized loss, net on available-for-sale securities, net of taxes	722	409
Change in fair value of available for sale securities	722	409
Other comprehensive loss	(6,799)	(25,284)
Comprehensive income	$ 39,481	$ 46,409

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Operating activities:
Net income	$ 46,280	$ 71,693
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Amortization and impairment of software development costs and licenses	30,498	6,858
Depreciation	11,134	9,130
Amortization and impairment of intellectual property	5,560	6,861
Stock-based compensation	57,432	24,598
Other, net	1,321	(2,980)
Changes in assets and liabilities:
Accounts receivable	44,041	61,355
Inventory	4,029	3,692
Software development costs and licenses	(56,968)	(54,663)
Prepaid expenses and other assets	(131,121)	(21,464)
Deferred revenue	(15,871)	(95,075)
Deferred cost of goods sold	15,619	8,409
Accounts payable, accrued expenses and other liabilities	96,581	(29,597)
Net cash provided by (used in) operating activities	108,535	(11,183)
Investing activities:
Change in bank time deposits	133,303	(29,840)
Proceeds from available-for-sale securities	82,424	51,388
Purchases of available-for-sale securities	(28,248)	(44,108)
Purchases of fixed assets	(9,971)	(14,289)
Purchase of long-term investment	(2,000)	0
Business acquisitions	(8,715)	(3,149)
Net cash provided by (used in) investing activities	166,793	(39,998)
Financing activities:
Tax payment related to net share settlements on restricted stock awards	(52,118)	(58,403)
Repurchase of common stock	0	(153,500)
Net cash used in financing activities	(52,118)	(211,903)
Effects of foreign currency exchange rates on cash and cash equivalents	(3,201)	(9,103)
Net change in cash, cash equivalents, and restricted cash	220,009	(272,187)
Cash, cash equivalents, and restricted cash, beginning of year	1,391,986	1,246,371
Cash, cash equivalents, and restricted cash, end of period	$ 1,611,995	$ 974,184

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings/(Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)
Balance (in shares) at Mar. 31, 2018		132,743
Balance, Treasury stock (in shares) at Mar. 31, 2018				(18,705)
Balance at Mar. 31, 2018	$ 1,488,970	$ 1,327	$ 1,888,039	$ (458,180)	$ 73,516	$ (15,732)
Increase (Decrease) in Stockholders' Equity
Net income	71,693				71,693
Change in cumulative foreign currency translation adjustment	(26,817)
Change in cumulative foreign currency translation adjustment	(31,470)					(31,470)
Change in unrealized gains on cash flow hedge, net	1,125					1,125
Net unrealized gain on available-for-sale securities, net of taxes	409					409
Stock-based compensation	55,523		55,523
Repurchased common stock (in shares)				(1,597)
Repurchased common stock	(153,500)			$ (153,500)
Issuance of restricted stock, net of forfeitures and cancellations (in shares)		1,438
Issuance of restricted stock, net of forfeitures and cancellations	0	$ 14	(14)
Conversion of 1.00% Convertible Notes Due 2018 (in shares)		137
Conversion of 1.00% Convertible Notes Due 2018	2,931	$ 2	2,929
Net share settlement of restricted stock awards (in shares)		(507)
Net share settlement of restricted stock awards	(58,402)	$ (5)	(58,397)
Balance (in shares) at Jun. 30, 2018		133,811
Balance, Treasury stock (in shares) at Jun. 30, 2018				(20,302)
Balance at Jun. 30, 2018	$ 1,852,205	$ 1,338	1,888,080	$ (611,680)	615,482	(41,015)
Balance (in shares) at Mar. 31, 2019		134,602
Balance, Treasury stock (in shares) at Mar. 31, 2019	(22,421)			(22,421)
Balance at Mar. 31, 2019	$ 2,040,580	$ 1,346	2,019,369	$ (820,572)	877,626	(37,189)
Increase (Decrease) in Stockholders' Equity
Net income	46,280				46,280
Change in cumulative foreign currency translation adjustment	(8,797)					(8,797)
Change in unrealized gains on cash flow hedge, net	1,276					1,276
Net unrealized gain on available-for-sale securities, net of taxes	722					722
Stock-based compensation	53,251		53,251
Issuance of restricted stock, net of forfeitures and cancellations (in shares)		1,339
Issuance of restricted stock, net of forfeitures and cancellations	0	$ 13	(13)
Net share settlement of restricted stock awards (in shares)		(476)
Net share settlement of restricted stock awards	(52,118)	$ (5)	(52,113)
Employee share purchase plan settlement (in shares)		62
Employee share purchase plan settlement	$ 5,133	$ 1	5,132
Balance (in shares) at Jun. 30, 2019		135,527
Balance, Treasury stock (in shares) at Jun. 30, 2019	(22,421)			(22,421)
Balance at Jun. 30, 2019	$ 2,086,327	$ 1,355	$ 2,025,626	$ (820,572)	$ 923,906	$ (43,988)

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Take-Two Interactive Software, Inc. (the "Company," "we," "us," or similar pronouns) was incorporated in the state of Delaware in 1993. We are a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. We develop and publish products through our labels Rockstar Games, 2K, and Private Division, as well as Social Point, a leading developer of mobile games. Our products are designed for console systems and personal computers, including smart phones and tablets, and are delivered through physical retail, digital download, online platforms, and cloud streaming services.

Basis of Presentation

The accompanying Condensed Consolidated Financial Statements are unaudited and include the accounts of the Company and its wholly-owned subsidiaries and, in our opinion, reflect all normal and recurring adjustments necessary for the fair presentation of our financial position, results of operations, and cash flows. Interim results may not be indicative of the results that may be expected for the full fiscal year. All intercompany accounts and transactions have been eliminated in consolidation. The preparation of these Condensed Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under U.S. GAAP, interim accounting for certain expenses, including income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), although we believe that the disclosures are adequate to make the information presented not misleading. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with our annual Consolidated Financial Statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2019.

Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation.

Recently Adopted Accounting Pronouncements

Accounting for Leases

In February 2016, the Financial Accounting Standards Board (“FASB”) issued new guidance related to the accounting for leases codified under Topic 842, Leases. The new lease accounting standard replaces all current U.S. GAAP guidance on this topic. The new standard, among other things, requires a lessee to classify a lease as either an operating or financing lease and to recognize a lease liability and a right-of-use (“ROU”) asset for its leases. On April 1, 2019, we adopted the new lease accounting standard using the alternative transition approach provided in ASU 2018-11, “Leases (Topic 842) - Targeted Improvements,” which allows initial application of the new standard using the modified retrospective method.

As part of the adoption, the new lease accounting standard allows a number of practical expedients and exemptions. At transition, we elected the following:


•	The package of practical expedients, which allows us to carryforward our historical lease classification, assessment of whether a contract is or contains a lease and initial direct costs for any leases that exist prior to adoption of the new standard;


•	The practical expedient to not separate non-lease components from the related lease components; and


•	The exemption to not apply the balance sheet recognition requirements for leases with a lease term of 12 months or less and instead expense those costs on a straight-line basis over the lease term or in the period in which the obligation is incurred, if such costs are variable.

As a result of the adoption, we have updated our significant accounting policy disclosure as set forth below to include our accounting policy under Topic 842 for transactions from April 1, 2019 and thereafter:

Leases

We determine if an arrangement is a lease at contract inception. If there is an identified asset in the contract (either explicitly or implicitly) and we have control over its use, the contract is (or contains) a lease. In certain of our lease arrangements, primarily those related to our data center arrangements, judgment is required in determining if a contract contains a lease. For these arrangements, there is judgment in evaluating if the arrangement provides us with an asset that is physically distinct, or that represents substantially all of the capacity of the asset, and if we have the right to direct the use of the asset. Lease assets and liabilities are recognized based on the present value of future lease payments over the lease term at the commencement date. Included in the lease liability are future lease payments that are fixed, in-substance fixed, or payments based on an index or rate known at the commencement date of the lease. Variable lease payments are recognized as lease expenses as incurred. The operating lease ROU asset also includes any lease payments made prior to commencement, initial direct costs incurred, and lease incentives received. All ROU assets are reviewed for impairment.

As most of our leases do not provide an implicit rate, we generally use our incremental borrowing rate in determining the present value of future lease payments. The incremental borrowing rate represents the rate required to borrow funds over a similar term to purchase the leased asset and is based on an unsecured borrowing rate and risk-adjusted to approximate a collateralized rate at the commencement date of the lease.

In determining our lease liability, the lease term includes options to extend or terminate the lease when it is reasonably certain that we will exercise such option. For operating leases, the lease expense for minimum lease payments is recognized on a straight-line basis over the lease term. Lease modifications result in remeasurement of the lease liability. Leases with an initial term of 12 months or less are not recorded on the balance sheet, and we recognize lease expense for these leases on a straight-line basis over the lease term.

Impact of adoption

As a result of adopting Topic 842, the following adjustments, including reclassifying prepaid and deferred rent to ROU, were made to our Condensed Consolidated Balance Sheet at April 1, 2019:



	March 31, 2019		Adjustments			April 1, 2019
ASSETS
Prepaid expenses and other	$	186,688	$	(792	)	$	185,896
Right-of-use assets	$	—	$	118,799		$	118,799

LIABILITIES AND STOCKHOLDERS' EQUITY
Accrued expenses and other current liabilities	$	1,035,695	$	(2,976	)	$	1,032,719
Lease liabilities	$	—	$	18,937		$	18,937
Non-current lease liabilities	$	—	$	122,041		$	122,041
Other long-term liabilities	$	229,633	$	(19,995	)	$	209,638

The adoption of Topic 842 did not have an impact on our Condensed Consolidated Statements of Operation or Condensed Consolidated Statements of Cash Flows.

Recently Issued Accounting Pronouncements

Accounting for Fair Value Measurement

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, which modifies the disclosure requirements on fair value measurements by removing, modifying, or adding certain disclosures. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning December 15, 2019 (April 1, 2020 for the Company), with early adoption permitted. Certain disclosures in ASU 2018-13 are required to be applied on a retrospective basis and others on a prospective basis. We are currently evaluating the potential impact of adopting this guidance on our Consolidated Financial Statements.

REVENUE FROM CONTRACTS WITH CUSTOMERS

3 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

Disaggregation of revenue

Product revenue

Product revenue is primarily comprised of the portion of revenue from software products that is recognized when the customer takes control of the product (i.e. upon delivery of the software product).

Service and other revenue

Service and other revenue is primarily comprised of revenue from game related services, virtual currency transactions, and in-game purchases which are recognized over an estimated service period.

Net revenue by product revenue and service and other was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
Service and other	424,385		309,187
Product	116,074		78,795
Total net revenue	$	540,459	$	387,982

Full game and other revenue

Full game and other revenue primarily includes the initial sale of full game software products, which may include offline and/or significant game related services.

Recurrent consumer spending revenue

Recurrent consumer spending revenue is generated from ongoing consumer engagement and includes revenue from virtual currency, add-on content, and in-game purchases.

Net revenue by full game and other revenue and recurrent consumer spending was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
Recurrent consumer spending	314,858		241,030
Full game and other	225,601		146,952
Total net revenue	$	540,459	$	387,982

Geography

We attribute net revenue to geographic regions based on software product destination. Net revenue by geographic region was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
United States	$	330,479	$	221,411
International	209,980		166,571
Total net revenue	$	540,459	$	387,982

Platform

Net revenue by platform was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
Console	$	434,814	$	294,730
PC and other	105,645		93,252
Total net revenue	$	540,459	$	387,982

Distribution channel

Our products are delivered through digital online services (digital download, online platforms, and cloud streaming) and physical retail and other. Net revenue by distribution channel was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
Digital online	$	427,781	$	315,047
Physical retail and other	112,678		72,935
Total net revenue	$	540,459	$	387,982

Deferred Revenue

We record deferred revenue when payments are due or received in advance of the fulfillment of our associated performance obligations. Deferred revenue, including current and non-current balances as of June 30, 2019 and March 31, 2019 were $848,182 and $864,360, respectively. For the three months ended June 30, 2019, the additions to our deferred revenue balance were due primarily to cash payments received or due in advance of satisfying our performance obligations, while the reductions to our deferred revenue balance were due primarily to the recognition of revenue upon fulfillment of our performance obligations, both of which were in the ordinary course of business.

During the three months ended June 30, 2019, $330,421 of revenue was recognized that was included in the deferred revenue balance at the beginning of the period. As of June 30, 2019, the aggregate amount of contract revenue allocated to unsatisfied performance obligations is $1,042,083, which includes our deferred revenue balances and amounts to be invoiced and recognized in future periods. We expect to recognize approximately $958,985 of this balance as revenue over the next 12 months, and the remainder thereafter. This balance does not include an estimate for variable consideration arising from sales-based royalty license revenue in excess of the contractual minimum guarantee.

As of June 30, 2019 and March 31, 2019, our contract asset balances were $62,145 and $57,643, respectively, which are recorded within Prepaid expenses and other in our Condensed Consolidated Balance Sheets.

FAIR VALUE MEASUREMENTS

3 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The carrying amounts of our financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, 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, 2019			Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)			Significant unobservable inputs (level 3)		Balance Sheet Classification
Money market funds	$	284,236		$	284,236	$	—		$	—	Cash and cash equivalents
Bank-time deposits	150,000			150,000		—			—		Cash and cash equivalents
Commercial paper	180,196			—		180,196			—		Cash and cash equivalents
US Treasuries	24,987			24,987		—			—		Cash and cash equivalents
Corporate bonds	18,598			—		18,598			—		Cash and cash equivalents
Corporate bonds	260,752			—		260,752			—		Short-term investments
Bank-time deposits	254,417			254,417		—			—		Short-term investments
US Treasuries	35,448			35,448		—			—		Short-term investments
Commercial paper	7,036			—		7,036			—		Short-term investments
Money market funds	620,397			620,397		—			—		Restricted cash
Cross-currency swap	950			—		950			—		Prepaid expenses and other
Private equity	1,823			—		—			1,823		Other assets
Foreign currency forward contracts	(112		)	—		(112		)	—		Accrued expenses and other current liabilities
Total recurring fair value measurements, net	$	1,838,728		$	1,369,485	$	467,420		$	1,823



	March 31, 2019			Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)			Significant unobservable inputs (level 3)		Balance Sheet Classification
Money market funds	$	389,936		$	389,936	$	—		$	—	Cash and cash equivalents
Commercial paper	39,246			—		39,246			—		Cash and cash equivalents
US Treasuries	25,449			25,449		—			—		Cash and cash equivalents
Money market funds	565,461			565,461		—			—		Restricted cash
Bank-time deposits	387,720			387,720		—			—		Short-term investments
Corporate bonds	296,141			—		296,141			—		Short-term investments
US Treasuries	55,634			55,634		—			—		Short-term investments
Commercial paper	4,990			—		4,990			—		Short-term investments

Cross-currency swap	791			—		791			—		Prepaid expenses and other
Private equity	1,823			—		—			1,823		Other assets
Foreign currency forward contracts	(423		)	—		(423		)	—		Accrued and other current liabilities
Total recurring fair value measurements, net	$	1,766,768		$	1,424,200	$	340,745		$	1,823

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, 2019.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

MANAGEMENT AGREEMENT

3 Months Ended

Jun. 30, 2019

MANAGEMENT AGREEMENT

MANAGEMENT AGREEMENT

In November 2017, we entered into a new management agreement, (the "2017 Management Agreement"), with ZelnickMedia Corporation ("ZelnickMedia") that replaces our previous agreement with ZelnickMedia and pursuant to which ZelnickMedia provides financial and management consulting services through March 31, 2024. The 2017 Management Agreement became effective January 1, 2018. As part of the 2017 Management Agreement, Strauss Zelnick, the President of ZelnickMedia, continues to serve as Executive Chairman and Chief Executive Officer of the Company, and Karl Slatoff, a partner of ZelnickMedia, continues to serve as President of the Company. The 2017 Management Agreement provides for an annual management fee of $3,100 over the term of the agreement and a maximum annual bonus opportunity of $7,440 over the term of the agreement, based on the Company achieving certain performance thresholds.

In consideration for ZelnickMedia's services, we recorded consulting expense (a component of General and administrative expenses) of $1,670 and $1,705 during the three months ended June 30, 2019 and 2018, respectively. We recorded stock-based compensation expense for restricted stock units granted to ZelnickMedia, which is included in General and administrative expenses of $5,545 and $4,517 during the three months ended June 30, 2019 and 2018, respectively.

In connection with the 2017 Management Agreement, we have granted restricted stock units as follows:



	Three Months Ended June 30,
	2019	2018
Time-based	92	86
Market-based(1)	168	158
Performance-based(1)
IP	28	27
Recurrent Consumer Spending ("RCS")	28	26
Total—Performance-based	56	53
Total Restricted Stock Units	316	297

_______________________________________________________________________________


(1)	Represents the maximum number of shares eligible to vest.

Time-based restricted stock units granted in fiscal 2020 will vest on April 13, 2021, and those granted in fiscal 2019 will vest on April 13, 2020, in each case provided that the 2017 Management Agreement has not been terminated prior to such vesting date.

Market-based restricted stock units granted in fiscal 2020 are eligible to vest on April 13, 2021, and those granted in fiscal 2019 are eligible to vest on April 13, 2020, in each case provided that the 2017 Management Agreement has not been terminated prior to such vesting date. Market-based restricted stock units are eligible to vest based on the Company's Total Shareholder Return (as defined in the relevant grant agreement) relative to the Total Shareholder Return (as defined in the relevant grant agreement) of the companies that constitute the NASDAQ Composite Index as of the grant date measured over a two-year period. To earn the target number of market-based restricted stock units (which represents 50% of the number of the market-based restricted stock units set forth in the table above), the Company must perform at the 50th percentile, with the maximum number of market-based restricted stock units earned if the Company performs at the 75th percentile.

Performance-based restricted stock units granted in fiscal 2020 are eligible to vest on April 13, 2021, and those granted in fiscal 2019 are eligible to vest on April 13, 2020, in each case provided that the 2017 Management Agreement has not been terminated prior to such vesting date. The performance-based restricted stock units, of which 50% are tied to "IP" and 50% to "RCS" (as defined in the relevant grant agreement), are eligible to vest based on the Company's achievement of certain performance metrics (as defined in the relevant grant agreement) of either individual product releases of "IP" or "RCS" measured over a two-year period. The target number of performance-based restricted stock units that may be earned pursuant to these grants is equal to 50% of the grant amounts set forth in the above table (the numbers in the table represent the maximum number of performance-based restricted stock units that may be earned). At the end of each reporting period, we assess the probability of each performance metric and upon determination that certain thresholds are probable, we record expense for the unvested portion of the shares of performance-based restricted stock units.

The unvested portion of time-based, market-based and performance-based restricted stock units held by ZelnickMedia were 613 and 526 as of June 30, 2019 and March 31, 2019, respectively. 209 restricted stock units previously granted to ZelnickMedia vested and 20 restricted stock units were forfeited by ZelnickMedia during the three months ended June 30, 2019.

SHORT-TERM INVESTMENTS

3 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

SHORT-TERM INVESTMENTS

Our Short-term investments consisted of the following:



	June 30, 2019
			Gross Unrealized
	Cost or Amortized Cost		Gains		Losses			Fair Value
Short-term investments
Bank time deposits	$	254,417	$	—	$	—		$	254,417
Available-for-sale securities:
Corporate bonds	259,496		1,280		(25		)	260,751
US Treasuries	35,388		64		(3		)	35,449
Commercial paper	7,036		—		—			7,036
Total Short-term investments	$	556,337	$	1,344	$	(28	)	$	557,653



	March 31, 2019
			Gross Unrealized
	Cost or Amortized Cost		Gains		Losses			Fair Value
Short-term investments
Bank time deposits	$	387,720	$	—	$	—		$	387,720
Available-for-sale securities:
Corporate bonds	295,526		742		(127		)	296,141
US Treasuries	55,656		27		(49		)	55,634
Commercial paper	4,990							4,990
Total short-term investments	$	743,892	$	769	$	(176	)	$	744,485

Based on our review of investments with unrealized losses, we did not consider these investments to be other-than-temporarily impaired as of June 30, 2019 or March 31, 2019. We do not intend to sell any of our investments with unrealized losses, nor is it more likely than not that we will be required to sell those investments.

The following table summarizes the contracted maturities of our short-term investments at June 30, 2019:



	June 30, 2019
	Amortized Cost		Fair Value
Short-term investments
Due in 1 year or less	$	468,915	$	469,523
Due in 1 - 2 years	87,422		88,130
Total short-term investments	$	556,337	$	557,653

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

3 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

Our risk management strategy includes the use of derivative financial instruments to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. We do not enter into derivative financial contracts for speculative or trading purposes. We recognize derivative instruments as either assets or liabilities on our Consolidated Balance Sheets, and we measure those instruments at fair value. We classify cash flows from derivative transactions as cash flows from operating activities in our Consolidated Statements of Cash Flows.

Foreign currency forward contracts

The following table shows the gross notional amounts of foreign currency forward contracts:



	June 30, 2019		March 31, 2019
Forward contracts to sell foreign currencies	$	72,538	$	116,590
Forward contracts to purchase foreign currencies	42,544		87,793

For the three months ended June 30, 2019 and 2018, we recorded a loss of $3,298 and a gain of $2,404, respectively, related to foreign currency forward contracts in Interest and other, net in our Condensed Consolidated Statements of Operations. Our foreign currency exchange forward contracts are not designated as hedging instruments under hedge accounting and are used to reduce the impact of foreign currency on certain balance sheet exposures and certain revenue and expense. These instruments are generally short-term in nature, with typical maturities of less than one year, and are subject to fluctuations in foreign exchange rates.

Cross-currency swaps

We entered into a cross-currency swap agreement in August 2017 related to an intercompany loan that has been designated and accounted for as a cash flow hedge of foreign currency exchange risk. The intercompany loan is related to the acquisition of Social Point. As of June 30, 2019, the notional amount of the cross-currency swap is $115,641. This cross-currency swap mitigates the exposure to fluctuations in the U.S. dollar-euro exchange rate related to the intercompany loan. The critical terms of the cross-

currency swap agreement correspond to the intercompany loan and both mature at the same time in 2027; as such, there was no ineffectiveness during the period.

Changes in the fair value of this cross-currency swap are recorded in Accumulated other comprehensive income (loss) and offset the change in value of interest and principal payment as a result of changes in foreign exchange rates. Resulting gains or losses from the cross-currency swap are reclassified from Accumulated other comprehensive income (loss) to earnings to completely offset foreign currency transaction gains and losses recognized on the intercompany loan. We recognize the difference between the U.S. dollar interest payments received from the swap counterparty and the U.S. dollar equivalent of the euro interest payments made to the swap counterparty in Interest and other, net on our Consolidated Statement of Operations. There are no credit-risk related contingent features associated with these swaps.

INVENTORY

3 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

INVENTORY

Inventory balances by category were as follows:



	June 30, 2019		March 31, 2019
Finished products	$	21,267	$	24,847
Parts and supplies	2,580		3,353
Inventory	$	23,847	$	28,200

Estimated product returns included in inventory at June 30, 2019 and March 31, 2019 were $439 and $491, respectively.

SOFTWARE DEVELOPMENT COSTS AND LICENSES

3 Months Ended

Jun. 30, 2019

SOFTWARE DEVELOPMENT COSTS AND LICENSES

SOFTWARE DEVELOPMENT COSTS AND LICENSES

Details of our capitalized software development costs and licenses were as follows:



	June 30, 2019				March 31, 2019
	Current		Non-current		Current		Non-current
Software development costs, internally developed	$	6,543	$	453,874	$	14,809	$	434,712
Software development costs, externally developed	3,574		175,537		3,655		168,381
Licenses	7,953		4,186		10,416		343
Software development costs and licenses	$	18,070	$	633,597	$	28,880	$	603,436

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

3 Months Ended

Jun. 30, 2019

Liabilities, Current [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the following:



	June 30, 2019		March 31, 2019

Software development royalties	$	760,928	$	713,201
Compensation and benefits	65,324		73,695
Refund liability	53,724		65,853
Licenses	47,679		56,221
Marketing and promotions	31,235		42,390
Other	79,858		84,335
Accrued expenses and other current liabilities	$	1,038,748	$	1,035,695

DEBT

3 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

DEBT

Credit Agreement

On February 8, 2019, we entered into an unsecured Credit Agreement (the “Credit Agreement”). The Credit Agreement runs through February 8, 2024. The Credit Agreement provides for an unsecured five-year revolving credit facility with commitments of $200,000, including sublimits for (i) the issuance of letters of credit in an aggregate face amount of up to $25,000 and (ii) borrowings and letters of credit denominated in Pounds Sterling, Euros and Canadian Dollars in an aggregate principal amount of up to $25,000. In addition, the Credit Agreement contains uncommitted incremental capacity permitting the incurrence of up to an additional $250,000 in term loans or revolving credit facilities.

Loans under the New Credit Agreement will bear interest at a rate of (a) 0.250% to 0.750% above a certain base rate (5.50% at June 30, 2019) or (b) 1.125% to 1.750% above LIBOR (approximately 2.40% at June 30, 2019), which rates are determined by reference to our consolidated total net leverage ratio. We had no outstanding borrowings at June 30, 2019.

Information related to availability on our Credit Agreement was as follows:



	June 30, 2019		March 31, 2019
Available borrowings	$	198,336	$	198,336
Outstanding letters of credit	1,664		1,664

We recorded interest expense and fees related to the Credit Agreement of $82 for the three months ended June 30, 2019 and $110 for the three months ended June 30, 2018 under a prior credit arrangement, which was terminated on the same day that we entered into the Credit Agreement. The Credit Agreement also includes, among other terms and conditions, maximum leverage ratio, minimum cash reserves and, in certain circumstances, minimum interest coverage ratio financial covenants, as well as limitations on us and each of our subsidiaries’ ability to: create, incur, assume or be liable for indebtedness; dispose of assets outside the ordinary course; acquire, merge or consolidate with or into another person or entity; create, incur or allow any lien on any of its property; make investments; or pay dividends or make distributions, in each case subject to certain exceptions. In addition, the Credit Agreement provides for certain events of default such as nonpayment of principal and interest when due thereunder, breaches of representations and warranties, noncompliance with covenants, acts of insolvency and default on indebtedness held by third parties (subject to certain limitations and cure periods).

EARNINGS PER SHARE ("EPS")

3 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE ("EPS")

The following table sets forth the computation of basic and diluted earnings per share:



	Three Months Ended June 30,
	2019		2018
Computation of Basic earnings per share:
Net income	$	46,280	$	71,693
Weighted average shares outstanding—basic	112,621		112,941
Basic earnings per share	$	0.41	$	0.63

Computation of Diluted earnings per share:
Net income	$	46,280	$	71,693
Add: interest expense, net of tax, on Convertible Notes	—		95
Net income for diluted earnings per share calculation	$	46,280	$	71,788

Weighted average shares outstanding—basic	112,621		112,941
Add: dilutive effect of common stock equivalents	1,107		3,044
Weighted average common shares outstanding—diluted	113,728		115,985

Diluted earnings per share	$	0.41	$	0.62

Certain of our unvested stock-based awards (including restricted stock units and restricted stock awards) are considered participating securities since these securities have non-forfeitable rights to dividends or dividend equivalents during the contractual period of the award and thus requires the two-class method of computing EPS. As of June 30, 2019, we have no material participating securities outstanding.

During the three months ended June 30, 2019, 1,338 restricted stock awards vested, we granted 700 unvested restricted stock awards, and 41 unvested restricted stock awards were forfeited.

ACCUMULATED OTHER COMPREHENSIVE LOSS

3 Months Ended

Jun. 30, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

ACCUMULATED OTHER COMPREHENSIVE LOSS

The following table provides the components of accumulated other comprehensive loss:



	Three Months Ended June 30, 2019
	Foreign currency translation adjustments			Unrealized gain (loss) on forward contracts		Unrealized gain (loss) on cross-currency swap			Unrealized gain (loss) on available-for- sales securities		Total
Balance at March 31, 2019	$	(33,090	)	$	600	$	(5,285	)	$	586	$	(37,189	)
Other comprehensive income (loss) before reclassifications	(8,797		)			193			722		(7,882		)
Amounts reclassified from accumulated other comprehensive loss						1,083					1,083
Balance at June 30, 2019	$	(41,887	)	$	600	$	(4,009	)	$	1,308	$	(43,988	)



	Three Months Ended June 30, 2018
	Foreign currency translation adjustments			Unrealized gain (loss) on derivative instruments		Unrealized gain (loss) on cross-currency swap			Unrealized gain (loss) on available-for- sales securities			Total
Balance at March 31, 2018	$	(4,287	)	$	600	$	(10,191	)	$	(1,854	)	$	(15,732	)
Other comprehensive income (loss) before reclassifications	(26,817		)	—		9,585			409			(16,823		)
Amounts reclassified from accumulated other comprehensive loss	—			—		(8,460		)	—			(8,460		)
Balance at June 30, 2018	$	(31,104	)	$	600	$	(9,066	)	$	(1,445	)	$	(41,015	)

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Jun. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We have entered into various agreements in the ordinary course of business that require substantial cash commitments over the next several years. Other than agreements entered into in the ordinary course of business and in addition to the agreements requiring known cash commitments as reported in Part II, Item 7 of our Annual Report on Form 10-K for the fiscal year ended March 31, 2019, we did not have any significant changes to our commitments since March 31, 2019. Legal and Other Proceedings We are, or may become, subject to demands and claims (including intellectual property claims) and are involved in routine litigation in the ordinary course of business which we do not believe to be material to our business or financial condition or results of operations. We have appropriately accrued amounts related to certain of these claims and legal and other proceedings. While it is reasonably possible that a loss may be incurred in excess of the amounts accrued in our financial statements, we believe that such losses, unless otherwise disclosed, would not be material.

BUSINESS REORGANIZATION	3 Months Ended
BUSINESS REORGANIZATION	Jun. 30, 2019
Restructuring and Related Activities [Abstract]
BUSINESS REORGANIZATION	BUSINESS REORGANIZATION In the first quarter of fiscal 2018, we announced and initiated actions to implement a strategic reorganization at one of our labels (the "2018 Plan"). In connection with this initiative, we recorded business reorganization expense of $386 during the three months ended June 30, 2019 due to updating estimates for employee separation costs and did not make any payments related to these reorganization activities. As of June 30, 2019, $3,698 remained accrued for in Accrued expenses and other current liabilities and $2,961 in Other non-current liabilities. Although we may record additional expense or benefit in future periods to true-up estimates, we do not expect to incur additional reorganization costs in connection with the 2018 Plan.

INCOME TAXES	3 Months Ended
INCOME TAXES	Jun. 30, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for income taxes for the three months ended June 30, 2019 is based on our projected annual effective tax rate for fiscal year 2020, adjusted for specific items that are required to be recognized in the period in which they are incurred. The provision for income taxes was $15,875 for the three months ended June 30, 2019 as compared to $5,754 for the prior year period. When compared to the statutory rate of 21%, the effective tax rate of 25.5% for the three months ended June 30, 2019 was primarily due to a tax expense of $19,826 from the reversal of net deferred tax benefits relating to the Altera case discussed below, partially offset by a tax benefit of $11,601 from changes in unrecognized tax benefits due to audit settlements. On July 27, 2015, the U.S. Tax Court issued an opinion in Altera Corp. v. Commissioner, which concluded that related parties in an intercompany cost-sharing arrangement are not required to share costs related to stock-based compensation. In February 2016, the U.S. Internal Revenue Service appealed the decision to the U.S Court of Appeals for the Ninth Circuit. On June 7, 2019, the Ninth Circuit reversed the 2015 decision of the U.S. Tax Court. As a result of this decision, we are no longer reflecting a net tax benefit within our financial statements related to the removal of stock-based compensation from our intercompany cost-sharing arrangement. During the three months ended June 30, 2019, we removed the deferred tax asset and a deferred tax liability associated with this matter from its financial statements, resulting in a cumulative net discrete income tax expense of $19,826. On July 22, 2019, the taxpayer requested a rehearing before the full Ninth Circuit and may subsequently appeal from the Ninth Circuit to the Supreme Court. As a result, the final outcome of the case is uncertain. We will continue to monitor ongoing developments of this matter and potential impacts to our financial statements. In addition, on June 21, 2018, the U.S. Supreme Court issued its decision in South Dakota v. Wayfair, which overturned previous case law that precluded states from requiring retailers to collect and remit sales and use tax collection on sales made to in-state customers unless the retailer had physical presence in the state. Although this case is limited to sales tax collection obligations, we continue to monitor the potential impact of this decision on our state income tax footprint. We are regularly examined by domestic and foreign taxing authorities. Examinations may result in tax assessments in excess of amounts claimed and the payment of additional taxes. We believe our tax positions comply with applicable tax law, and that we have adequately provided for reasonably foreseeable tax assessments. It is possible that settlement of audits or the expiration of the statute of limitations may have an impact on our effective tax rate in future periods.

LEASES

3 Months Ended

Jun. 30, 2019

Leases [Abstract]

LEASES

Our lease arrangements are primarily for (1) corporate, administrative, and development studio offices and (2) data centers and server equipment. Our existing leases have remaining lease terms ranging from one to fourteen years. In certain instances, such leases include one or more options to renew, with renewal terms that generally extend the lease term by one to five years for each option. The exercise of lease renewal options is generally at our sole discretion. Additionally, the majority of our leases are classified as operating leases.

Information related to our operating leases are as follows:



	Three Months Ended June 30, 2019
Lease costs
Operating lease costs	7,008
Short term lease costs	673
Supplemental Operating Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities	6,551
ROU assets obtained in exchange for lease obligations	11,625
Weighted Average Lease terms and discount rates
Remaining lease term	8.1
Discount rate	5.0	%

Future undiscounted lease payments for our operating lease liabilities, and a reconciliation of these payments to our operating lease liabilities at June 30, 2019, are as follows:



For the years ending March 31,
Remaining 2020	$	20,938
2021	30,305
2022	28,724
2023	24,507
2024	17,260
Thereafter	58,815
Total future lease payments	180,549
Less imputed interest	(33,627		)
Total lease liabilities	$	146,922

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Basis of Presentation

Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation.

Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Accounting for Leases

As part of the adoption, the new lease accounting standard allows a number of practical expedients and exemptions. At transition, we elected the following:


•	The package of practical expedients, which allows us to carryforward our historical lease classification, assessment of whether a contract is or contains a lease and initial direct costs for any leases that exist prior to adoption of the new standard;


•	The practical expedient to not separate non-lease components from the related lease components; and


•	The exemption to not apply the balance sheet recognition requirements for leases with a lease term of 12 months or less and instead expense those costs on a straight-line basis over the lease term or in the period in which the obligation is incurred, if such costs are variable.

Leases

Impact of adoption

As a result of adopting Topic 842, the following adjustments, including reclassifying prepaid and deferred rent to ROU, were made to our Condensed Consolidated Balance Sheet at April 1, 2019:



	March 31, 2019		Adjustments			April 1, 2019
ASSETS
Prepaid expenses and other	$	186,688	$	(792	)	$	185,896
Right-of-use assets	$	—	$	118,799		$	118,799

LIABILITIES AND STOCKHOLDERS' EQUITY
Accrued expenses and other current liabilities	$	1,035,695	$	(2,976	)	$	1,032,719
Lease liabilities	$	—	$	18,937		$	18,937
Non-current lease liabilities	$	—	$	122,041		$	122,041
Other long-term liabilities	$	229,633	$	(19,995	)	$	209,638

The adoption of Topic 842 did not have an impact on our Condensed Consolidated Statements of Operation or Condensed Consolidated Statements of Cash Flows.

Recently Issued Accounting Pronouncements

Accounting for Fair Value Measurement

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Jun. 30, 2019

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

As a result of adopting Topic 842, the following adjustments, including reclassifying prepaid and deferred rent to ROU, were made to our Condensed Consolidated Balance Sheet at April 1, 2019:



	March 31, 2019		Adjustments			April 1, 2019
ASSETS
Prepaid expenses and other	$	186,688	$	(792	)	$	185,896
Right-of-use assets	$	—	$	118,799		$	118,799

LIABILITIES AND STOCKHOLDERS' EQUITY
Accrued expenses and other current liabilities	$	1,035,695	$	(2,976	)	$	1,032,719
Lease liabilities	$	—	$	18,937		$	18,937
Non-current lease liabilities	$	—	$	122,041		$	122,041
Other long-term liabilities	$	229,633	$	(19,995	)	$	209,638

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)

3 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Net revenue by product platform

Net revenue by platform was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
Console	$	434,814	$	294,730
PC and other	105,645		93,252
Total net revenue	$	540,459	$	387,982

Net revenue by product revenue and service and other was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
Service and other	424,385		309,187
Product	116,074		78,795
Total net revenue	$	540,459	$	387,982

Net revenue by full game and other revenue and recurrent consumer spending was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
Recurrent consumer spending	314,858		241,030
Full game and other	225,601		146,952
Total net revenue	$	540,459	$	387,982

Net revenue by distribution channel was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
Digital online	$	427,781	$	315,047
Physical retail and other	112,678		72,935
Total net revenue	$	540,459	$	387,982

Net revenue by geographic region

We attribute net revenue to geographic regions based on software product destination. Net revenue by geographic region was as follows:



	Three Months Ended June 30,		Three Months Ended June 30,
	2019		2018
Net revenue recognized:
United States	$	330,479	$	221,411
International	209,980		166,571
Total net revenue	$	540,459	$	387,982

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jun. 30, 2019

Fair Value Disclosures [Abstract]

Segregation of all assets and liabilities measured at fair value on a recurring basis



	June 30, 2019			Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)			Significant unobservable inputs (level 3)		Balance Sheet Classification
Money market funds	$	284,236		$	284,236	$	—		$	—	Cash and cash equivalents
Bank-time deposits	150,000			150,000		—			—		Cash and cash equivalents
Commercial paper	180,196			—		180,196			—		Cash and cash equivalents
US Treasuries	24,987			24,987		—			—		Cash and cash equivalents
Corporate bonds	18,598			—		18,598			—		Cash and cash equivalents
Corporate bonds	260,752			—		260,752			—		Short-term investments
Bank-time deposits	254,417			254,417		—			—		Short-term investments
US Treasuries	35,448			35,448		—			—		Short-term investments
Commercial paper	7,036			—		7,036			—		Short-term investments
Money market funds	620,397			620,397		—			—		Restricted cash
Cross-currency swap	950			—		950			—		Prepaid expenses and other
Private equity	1,823			—		—			1,823		Other assets
Foreign currency forward contracts	(112		)	—		(112		)	—		Accrued expenses and other current liabilities
Total recurring fair value measurements, net	$	1,838,728		$	1,369,485	$	467,420		$	1,823



	March 31, 2019			Quoted prices in active markets for identical assets (level 1)		Significant other observable inputs (level 2)			Significant unobservable inputs (level 3)		Balance Sheet Classification
Money market funds	$	389,936		$	389,936	$	—		$	—	Cash and cash equivalents
Commercial paper	39,246			—		39,246			—		Cash and cash equivalents
US Treasuries	25,449			25,449		—			—		Cash and cash equivalents
Money market funds	565,461			565,461		—			—		Restricted cash
Bank-time deposits	387,720			387,720		—			—		Short-term investments
Corporate bonds	296,141			—		296,141			—		Short-term investments
US Treasuries	55,634			55,634		—			—		Short-term investments
Commercial paper	4,990			—		4,990			—		Short-term investments

Cross-currency swap	791			—		791			—		Prepaid expenses and other
Private equity	1,823			—		—			1,823		Other assets
Foreign currency forward contracts	(423		)	—		(423		)	—		Accrued and other current liabilities
Total recurring fair value measurements, net	$	1,766,768		$	1,424,200	$	340,745		$	1,823

MANAGEMENT AGREEMENT (Tables)

3 Months Ended

Jun. 30, 2019

MANAGEMENT AGREEMENT

Schedule of restricted stock units granted

In connection with the 2017 Management Agreement, we have granted restricted stock units as follows:



	Three Months Ended June 30,
	2019	2018
Time-based	92	86
Market-based(1)	168	158
Performance-based(1)
IP	28	27
Recurrent Consumer Spending ("RCS")	28	26
Total—Performance-based	56	53
Total Restricted Stock Units	316	297

_______________________________________________________________________________

(1)

Represents the maximum number of shares eligible to vest.

SHORT-TERM INVESTMENTS (Tables)

3 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Schedule of short-term investments

Our Short-term investments consisted of the following:



	June 30, 2019
			Gross Unrealized
	Cost or Amortized Cost		Gains		Losses			Fair Value
Short-term investments
Bank time deposits	$	254,417	$	—	$	—		$	254,417
Available-for-sale securities:
Corporate bonds	259,496		1,280		(25		)	260,751
US Treasuries	35,388		64		(3		)	35,449
Commercial paper	7,036		—		—			7,036
Total Short-term investments	$	556,337	$	1,344	$	(28	)	$	557,653



	March 31, 2019
			Gross Unrealized
	Cost or Amortized Cost		Gains		Losses			Fair Value
Short-term investments
Bank time deposits	$	387,720	$	—	$	—		$	387,720
Available-for-sale securities:
Corporate bonds	295,526		742		(127		)	296,141
US Treasuries	55,656		27		(49		)	55,634
Commercial paper	4,990							4,990
Total short-term investments	$	743,892	$	769	$	(176	)	$	744,485

Summary of the contracted maturities of short-term investments

The following table summarizes the contracted maturities of our short-term investments at June 30, 2019:



	June 30, 2019
	Amortized Cost		Fair Value
Short-term investments
Due in 1 year or less	$	468,915	$	469,523
Due in 1 - 2 years	87,422		88,130
Total short-term investments	$	556,337	$	557,653

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

3 Months Ended

Jun. 30, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of gross notional amounts of foreign currency forward contracts

The following table shows the gross notional amounts of foreign currency forward contracts:



	June 30, 2019		March 31, 2019
Forward contracts to sell foreign currencies	$	72,538	$	116,590
Forward contracts to purchase foreign currencies	42,544		87,793

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details

INVENTORY (Tables)

3 Months Ended

Jun. 30, 2019

Inventory Disclosure [Abstract]

Inventory balances by category

Inventory balances by category were as follows:



	June 30, 2019		March 31, 2019
Finished products	$	21,267	$	24,847
Parts and supplies	2,580		3,353
Inventory	$	23,847	$	28,200

SOFTWARE DEVELOPMENT COSTS AND LICENSES (Tables)

3 Months Ended

Jun. 30, 2019

SOFTWARE DEVELOPMENT COSTS AND LICENSES

Schedule of capitalized software development costs and licenses

Details of our capitalized software development costs and licenses were as follows:



	June 30, 2019				March 31, 2019
	Current		Non-current		Current		Non-current
Software development costs, internally developed	$	6,543	$	453,874	$	14,809	$	434,712
Software development costs, externally developed	3,574		175,537		3,655		168,381
Licenses	7,953		4,186		10,416		343
Software development costs and licenses	$	18,070	$	633,597	$	28,880	$	603,436

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

3 Months Ended

Jun. 30, 2019

Liabilities, Current [Abstract]

Schedule of components of accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of the following:



	June 30, 2019		March 31, 2019

Software development royalties	$	760,928	$	713,201
Compensation and benefits	65,324		73,695
Refund liability	53,724		65,853
Licenses	47,679		56,221
Marketing and promotions	31,235		42,390
Other	79,858		84,335
Accrued expenses and other current liabilities	$	1,038,748	$	1,035,695

DEBT (Tables)

3 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Information related to availability on our Credit Agreement was as follows:



	June 30, 2019		March 31, 2019
Available borrowings	$	198,336	$	198,336
Outstanding letters of credit	1,664		1,664

EARNINGS PER SHARE ("EPS") (Tables)

3 Months Ended

Jun. 30, 2019

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted loss per share

The following table sets forth the computation of basic and diluted earnings per share:



	Three Months Ended June 30,
	2019		2018
Computation of Basic earnings per share:
Net income	$	46,280	$	71,693
Weighted average shares outstanding—basic	112,621		112,941
Basic earnings per share	$	0.41	$	0.63

Computation of Diluted earnings per share:
Net income	$	46,280	$	71,693
Add: interest expense, net of tax, on Convertible Notes	—		95
Net income for diluted earnings per share calculation	$	46,280	$	71,788

Weighted average shares outstanding—basic	112,621		112,941
Add: dilutive effect of common stock equivalents	1,107		3,044
Weighted average common shares outstanding—diluted	113,728		115,985

Diluted earnings per share	$	0.41	$	0.62

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Jun. 30, 2019

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

Schedule of components of accumulated other comprehensive loss

The following table provides the components of accumulated other comprehensive loss:



	Three Months Ended June 30, 2019
	Foreign currency translation adjustments			Unrealized gain (loss) on forward contracts		Unrealized gain (loss) on cross-currency swap			Unrealized gain (loss) on available-for- sales securities		Total
Balance at March 31, 2019	$	(33,090	)	$	600	$	(5,285	)	$	586	$	(37,189	)
Other comprehensive income (loss) before reclassifications	(8,797		)			193			722		(7,882		)
Amounts reclassified from accumulated other comprehensive loss						1,083					1,083
Balance at June 30, 2019	$	(41,887	)	$	600	$	(4,009	)	$	1,308	$	(43,988	)



	Three Months Ended June 30, 2018
	Foreign currency translation adjustments			Unrealized gain (loss) on derivative instruments		Unrealized gain (loss) on cross-currency swap			Unrealized gain (loss) on available-for- sales securities			Total
Balance at March 31, 2018	$	(4,287	)	$	600	$	(10,191	)	$	(1,854	)	$	(15,732	)
Other comprehensive income (loss) before reclassifications	(26,817		)	—		9,585			409			(16,823		)
Amounts reclassified from accumulated other comprehensive loss	—			—		(8,460		)	—			(8,460		)
Balance at June 30, 2018	$	(31,104	)	$	600	$	(9,066	)	$	(1,445	)	$	(41,015	)

LEASES (Tables)

3 Months Ended

Jun. 30, 2019

Leases [Abstract]

Schedule of operating leases

Information related to our operating leases are as follows:



	Three Months Ended June 30, 2019
Lease costs
Operating lease costs	7,008
Short term lease costs	673
Supplemental Operating Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities	6,551
ROU assets obtained in exchange for lease obligations	11,625
Weighted Average Lease terms and discount rates
Remaining lease term	8.1
Discount rate	5.0	%

Schedule of future undiscounted lease payments for our operating lease

Future undiscounted lease payments for our operating lease liabilities, and a reconciliation of these payments to our operating lease liabilities at June 30, 2019, are as follows:



For the years ending March 31,
Remaining 2020	$	20,938
2021	30,305
2022	28,724
2023	24,507
2024	17,260
Thereafter	58,815
Total future lease payments	180,549
Less imputed interest	(33,627		)
Total lease liabilities	$	146,922

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Balance Sheet) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Apr. 01, 2019	Mar. 31, 2019
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other	$ 220,324	$ 185,896	$ 186,688
Right-of-use assets	124,859	118,799	0
Accrued expenses and other current liabilities	1,038,748	1,032,719	1,035,695
Lease liabilities	21,794	18,937	0
Non-current lease liabilities	125,128	122,041	0
Other long-term liabilities	$ 190,664	$ 209,638	229,633
Previously Reported
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other			186,688
Right-of-use assets			0
Accrued expenses and other current liabilities			1,035,695
Lease liabilities			0
Non-current lease liabilities			0
Other long-term liabilities			229,633
Adjustments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Prepaid expenses and other			(792)
Right-of-use assets			118,799
Accrued expenses and other current liabilities			(2,976)
Lease liabilities			18,937
Non-current lease liabilities			122,041
Other long-term liabilities			$ (19,995)

REVENUE FROM CONTRACTS WITH CUSTOMERS (Disaggregated Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Revenue from External Customer [Line Items]
Total net revenue	$ 540,459	$ 387,982
Service and other
Revenue from External Customer [Line Items]
Total net revenue	424,385	309,187
Product
Revenue from External Customer [Line Items]
Total net revenue	116,074	78,795
Recurrent consumer spending
Revenue from External Customer [Line Items]
Total net revenue	314,858	241,030
Full game and other
Revenue from External Customer [Line Items]
Total net revenue	225,601	146,952
Console
Revenue from External Customer [Line Items]
Total net revenue	434,814	294,730
PC and other
Revenue from External Customer [Line Items]
Total net revenue	105,645	93,252
Digital online
Revenue from External Customer [Line Items]
Total net revenue	427,781	315,047
Physical retail and other
Revenue from External Customer [Line Items]
Total net revenue	$ 112,678	$ 72,935

REVENUE FROM CONTRACTS WITH CUSTOMERS (Geographical) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Total net revenue	$ 540,459	$ 387,982
United States
Disaggregation of Revenue [Line Items]
Total net revenue	330,479	221,411
International
Disaggregation of Revenue [Line Items]
Total net revenue	$ 209,980	$ 166,571

REVENUE FROM CONTRACTS WITH CUSTOMERS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Contract with liability	$ 848,182	$ 864,360
Contract with liability recognized	330,421
Contract asset	62,145		$ 57,643
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining obligation	$ 958,985
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining obligation period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining obligation	$ 1,042,083

FAIR VALUE MEASUREMENTS - ASSETS MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Assets measured at fair value on a recurring basis
Short-term investments	$ 557,653	$ 744,485
Restricted cash	620,397	565,461
Total recurring fair value measurements, net	1,838,728	1,766,768
Cross-currency swap
Assets measured at fair value on a recurring basis
Prepaid expenses and other	950	791
Foreign currency forward contracts
Assets measured at fair value on a recurring basis
Private equity	(112)	(423)
Corporate bonds
Assets measured at fair value on a recurring basis
Short-term investments	260,752	296,141
Bank-time deposits
Assets measured at fair value on a recurring basis
Short-term investments	254,417	387,720
US Treasuries
Assets measured at fair value on a recurring basis
Short-term investments	35,448	55,634
Commercial paper
Assets measured at fair value on a recurring basis
Short-term investments	7,036	4,990
Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	284,236	389,936
Bank-time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	150,000
Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	180,196	39,246
US Treasuries
Assets measured at fair value on a recurring basis
Cash and cash equivalents	24,987	25,449
Corporate bonds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	18,598
Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Restricted cash	620,397	565,461
Total recurring fair value measurements, net	1,369,485	1,424,200
Quoted prices in active markets for identical assets (level 1) \| Cross-currency swap
Assets measured at fair value on a recurring basis
Prepaid expenses and other	0	0
Quoted prices in active markets for identical assets (level 1) \| Foreign currency forward contracts
Assets measured at fair value on a recurring basis
Private equity	0	0
Quoted prices in active markets for identical assets (level 1) \| Corporate bonds
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Quoted prices in active markets for identical assets (level 1) \| Bank-time deposits
Assets measured at fair value on a recurring basis
Short-term investments	254,417	387,720
Quoted prices in active markets for identical assets (level 1) \| US Treasuries
Assets measured at fair value on a recurring basis
Short-term investments	35,448	55,634
Quoted prices in active markets for identical assets (level 1) \| Commercial paper
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Quoted prices in active markets for identical assets (level 1) \| Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	284,236	389,936
Quoted prices in active markets for identical assets (level 1) \| Bank-time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	150,000
Quoted prices in active markets for identical assets (level 1) \| Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Quoted prices in active markets for identical assets (level 1) \| US Treasuries
Assets measured at fair value on a recurring basis
Cash and cash equivalents	24,987	25,449
Quoted prices in active markets for identical assets (level 1) \| Corporate bonds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0
Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Restricted cash	0	0
Total recurring fair value measurements, net	467,420	340,745
Significant other observable inputs (level 2) \| Cross-currency swap
Assets measured at fair value on a recurring basis
Prepaid expenses and other	950	791
Significant other observable inputs (level 2) \| Foreign currency forward contracts
Assets measured at fair value on a recurring basis
Private equity	(112)	(423)
Significant other observable inputs (level 2) \| Corporate bonds
Assets measured at fair value on a recurring basis
Short-term investments	260,752	296,141
Significant other observable inputs (level 2) \| Bank-time deposits
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant other observable inputs (level 2) \| US Treasuries
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant other observable inputs (level 2) \| Commercial paper
Assets measured at fair value on a recurring basis
Short-term investments	7,036	4,990
Significant other observable inputs (level 2) \| Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant other observable inputs (level 2) \| Bank-time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0
Significant other observable inputs (level 2) \| Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	180,196	39,246
Significant other observable inputs (level 2) \| US Treasuries
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant other observable inputs (level 2) \| Corporate bonds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	18,598
Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Restricted cash	0	0
Total recurring fair value measurements, net	1,823	1,823
Significant unobservable inputs (level 3) \| Cross-currency swap
Assets measured at fair value on a recurring basis
Prepaid expenses and other	0	0
Significant unobservable inputs (level 3) \| Foreign currency forward contracts
Assets measured at fair value on a recurring basis
Private equity	0	0
Significant unobservable inputs (level 3) \| Corporate bonds
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant unobservable inputs (level 3) \| Bank-time deposits
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant unobservable inputs (level 3) \| US Treasuries
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant unobservable inputs (level 3) \| Commercial paper
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant unobservable inputs (level 3) \| Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant unobservable inputs (level 3) \| Bank-time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0
Significant unobservable inputs (level 3) \| Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant unobservable inputs (level 3) \| US Treasuries
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant unobservable inputs (level 3) \| Corporate bonds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0
Other assets
Assets measured at fair value on a recurring basis
Private equity	1,823	1,823
Other assets \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Private equity	0	0
Other assets \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Private equity	0	0
Other assets \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Private equity	$ 1,823	$ 1,823

MANAGEMENT AGREEMENT (Details) - USD ($) shares in Thousands, $ in Thousands	1 Months Ended	3 Months Ended
	Nov. 30, 2017	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Restricted stock units
Management Agreement
Stock-based compensation expense for non-employee awards		$ 5,545	$ 4,517
2017 Management Agreement \| Restricted stock units \| Maximum
Management Agreement
Vesting requirement for market-based restricted stock		75th
2017 Management Agreement \| Restricted stock awards
Management Agreement
Vested (in shares)		209
Forfeited (in shares)		20
Zelnick Media Corporation
Management Agreement
Consulting expense benefit		$ 1,670	$ 1,705
Zelnick Media Corporation \| 2014 Management Agreement \| Time-based restricted units
Management Agreement
Granted (in shares)		92	86
Zelnick Media Corporation \| 2014 Management Agreement \| Market-based restricted units
Management Agreement
Granted (in shares)		168	158
Zelnick Media Corporation \| 2014 Management Agreement \| Performance-based restricted units
Management Agreement
Granted (in shares)		56	53
Zelnick Media Corporation \| 2014 Management Agreement \| IP
Management Agreement
Granted (in shares)		28	27
Zelnick Media Corporation \| 2014 Management Agreement \| Recurrent Consumer Spending (RCS)
Management Agreement
Granted (in shares)		28	26
Zelnick Media Corporation \| 2014 Management Agreement \| Restricted stock units
Management Agreement
Granted (in shares)		316	297
Zelnick Media Corporation \| 2017 Management Agreement
Management Agreement
Annual management fee	$ 3,100
Zelnick Media Corporation \| 2017 Management Agreement \| Maximum
Management Agreement
Bonus per fiscal year based on the achievement of certain performance thresholds	$ 7,440
Zelnick Media Corporation \| 2017 Management Agreement \| Market-based restricted stock
Management Agreement
Measurement period		2 years
Vesting requirement for market-based restricted stock		50th
Zelnick Media Corporation \| 2017 Management Agreement \| Performance-based restricted units
Management Agreement
Measurement period		2 years
Percentage of grants earned		50.00%
Zelnick Media Corporation \| 2017 Management Agreement \| Restricted stock units
Management Agreement
Unvested portion of the shares of restricted stock granted		613		526

SHORT-TERM INVESTMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 556,337	$ 743,892
Gross Unrealized Gain	1,344	769
Gross Unrealized Losses	(28)	(176)
Fair Value	557,653	744,485
Bank-time deposits
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	254,417	387,720
Gross Unrealized Gain	0	0
Gross Unrealized Losses	0	0
Fair Value	254,417	387,720
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	259,496	295,526
Gross Unrealized Gain	1,280	742
Gross Unrealized Losses	(25)	(127)
Fair Value	260,751	296,141
US Treasuries
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	35,388	55,656
Gross Unrealized Gain	64	27
Gross Unrealized Losses	(3)	(49)
Fair Value	35,449	55,634
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	7,036	4,990
Gross Unrealized Gain	0
Gross Unrealized Losses	0
Fair Value	$ 7,036	$ 4,990

SHORT-TERM INVESTMENTS (Contracted Maturities) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Debt Securities, Available-for-sale, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Amortized cost, Due in 1 year or less	$ 468,915
Amortized cost, Due in 1-2 years	87,422
Cost or Amortized Cost	556,337	$ 743,892
Debt Securities, Available-for-sale, Maturity, Fair Value, Rolling Maturity [Abstract]
Fair value, Due in 1 year or less	469,523
Fair value, Due in 1-2 years	88,130
Total fair value	$ 557,653	$ 744,485

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Derivative [Line Items]
Forward contracts to sell foreign currencies	$ 72,538		$ 116,590
Forward contracts to purchase foreign currencies	42,544		$ 87,793
Derivative instrument not designated as hedging instruments, gain (loss), net	(3,298)	$ 2,404
Cash Flow Hedging \| Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount	$ 115,641

INVENTORY (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Inventory Disclosure [Abstract]
Finished products	$ 21,267	$ 24,847
Parts and supplies	2,580	3,353
Inventory	23,847	28,200
Estimated product returns included in inventory	$ 439	$ 491

SOFTWARE DEVELOPMENT COSTS AND LICENSES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Mar. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	$ 18,070	$ 28,880
Software development costs and licenses, Non-current	633,597	603,436
Software development costs, internally developed
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	6,543	14,809
Software development costs and licenses, Non-current	453,874	434,712
Software development costs, externally developed
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	3,574	3,655
Software development costs and licenses, Non-current	175,537	168,381
Licenses
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	7,953	10,416
Software development costs and licenses, Non-current	$ 4,186	$ 343

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Apr. 01, 2019	Mar. 31, 2019
Liabilities, Current [Abstract]
Software development royalties	$ 760,928		$ 713,201
Compensation and benefits	65,324		73,695
Refund liability	53,724		65,853
Licenses	47,679		56,221
Marketing and promotions	31,235		42,390
Other	79,858		84,335
Accrued expenses and other current liabilities	$ 1,038,748	$ 1,032,719	$ 1,035,695

DEBT - CREDIT AGREEMENT (Details) - USD ($)		3 Months Ended
DEBT - CREDIT AGREEMENT (Details) - USD ($)	Feb. 08, 2019	Jun. 30, 2019	Jun. 30, 2018	Mar. 31, 2019
Credit Agreement
Credit Agreement
Maximum borrowing capacity	$ 200,000,000
Amount of additional borrowings by which maximum borrowing capacity may be increased	$ 250,000,000
Debt term	5 years
Available borrowings		$ 198,336,000		$ 198,336,000
Outstanding letters of credit		1,664,000		$ 1,664,000
Interest expense and fees		$ 82,000	$ 110,000
New Credit Agreement \| Base rate
Credit Agreement
Interest rate at end of period		5.50%
New Credit Agreement \| Base rate \| Minimum
Credit Agreement
Interest rate added to base rate	0.25%
New Credit Agreement \| Base rate \| Maximum
Credit Agreement
Interest rate added to base rate	0.75%
New Credit Agreement \| LIBOR
Credit Agreement
Interest rate at end of period		2.40%
New Credit Agreement \| LIBOR \| Minimum
Credit Agreement
Interest rate added to base rate	1.125%
New Credit Agreement \| LIBOR \| Maximum
Credit Agreement
Interest rate added to base rate	1.75%
Letter of Credit
Credit Agreement
Maximum borrowing capacity	$ 25,000,000

EARNINGS PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Computation of Basic earnings per share:
Net income	$ 46,280	$ 71,693
Weighted average shares outstanding—basic (in shares)	112,621	112,941
Basic earnings per share (in dollars per share)	$ 0.41	$ 0.63
Computation of Diluted earnings per share:
Net income	$ 46,280	$ 71,693
Add: interest expense, net of tax, on Convertible Notes	0	95
Net income (loss) for diluted earnings (loss) per share calculation	$ 46,280	$ 71,788
Weighted average common shares outstanding—basic (in shares)	112,621	112,941
Add: dilutive effect of common stock equivalents (in shares)	1,107	3,044
Weighted average common shares outstanding—diluted (in shares)	113,728	115,985
Diluted earnings per share (in dollars per share)	$ 0.41	$ 0.62

EARNINGS PER SHARE ("EPS") (Narrative) (Details) - Restricted stock shares in Thousands	3 Months Ended
	Jun. 30, 2019 shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Restricted stock awards, vested (in shares)	1,338
Restricted stock awards, granted (in shares)	700
Restricted stock awards, canceled (in shares)	41

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Changes in accumulated other comprehensive loss
Balance	$ (37,189)	$ (15,732)
Other comprehensive income (loss) before reclassifications	(7,882)	(16,823)
Amounts reclassified from accumulated other comprehensive loss	1,083	(8,460)
Balance	(43,988)	(41,015)
Foreign currency translation adjustments
Changes in accumulated other comprehensive loss
Balance	(33,090)	(4,287)
Other comprehensive income (loss) before reclassifications	(8,797)	(26,817)
Amounts reclassified from accumulated other comprehensive loss		0
Balance	(41,887)	(31,104)
Unrealized gain (loss) on forward contracts
Changes in accumulated other comprehensive loss
Balance	600	600
Other comprehensive income (loss) before reclassifications		0
Amounts reclassified from accumulated other comprehensive loss		0
Balance	600	600
Unrealized gain (loss) on cross-currency swap
Changes in accumulated other comprehensive loss
Balance	(5,285)	(10,191)
Other comprehensive income (loss) before reclassifications	193	9,585
Amounts reclassified from accumulated other comprehensive loss	1,083	(8,460)
Balance	(4,009)	(9,066)
Unrealized gain (loss) on available-for- sales securities
Changes in accumulated other comprehensive loss
Balance	586	(1,854)
Other comprehensive income (loss) before reclassifications	722	409
Amounts reclassified from accumulated other comprehensive loss		0
Balance	$ 1,308	$ (1,445)

BUSINESS REORGANIZATION (Details) - USD ($) $ in Thousands	3 Months Ended
BUSINESS REORGANIZATION (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 386	$ (242)
Fiscal 2018 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	386
Fiscal 2018 Plan \| Accrued Expenses and Other Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	3,698
Fiscal 2018 Plan \| Other long-term liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 2,961

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Valuation allowance, increase (decrease)	$ 19,826
Benefit from income taxes	$ (15,875)	$ (5,754)
Effective rate	25.50%
Tax benefits, geographic mix of earnings	$ 11,601

LEASES NARRATIVE (Details)	Jun. 30, 2019
Minimum
Lessee, Lease, Description [Line Items]
Term of contract	1 year
Renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Term of contract	14 years
Renewal term	5 years

LEASES OPERATING LEASES (Details) $ in Thousands	3 Months Ended
LEASES OPERATING LEASES (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Lease costs
Operating lease costs	$ 7,008
Short term lease costs	673
Supplemental Operating Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities	6,551
ROU assets obtained in exchange for lease obligations	$ 11,625
Weighted Average Lease terms and discount rates
Remaining lease term	8 years 1 month 6 days
Discount rate	5.00%

LEASES FUTURE UNDISCOUNTED LEASE PAYMENTS (Details) $ in Thousands	Jun. 30, 2019 USD ($)
Leases [Abstract]
Remaining 2020	$ 20,938
2021	30,305
2022	28,724
2023	24,507
2024	17,260
Thereafter	58,815
Total future lease payments	180,549
Less imputed interest	(33,627)
Total lease liabilities	$ 146,922

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 474,926,000
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	4,653,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 470,273,000