View Filing Data

Basic earnings per share (in dollars per share)

$ 404,459

$ 333,837

^[1]

$ 173,533

^[1]

Earnings per share:

$ 3.58

$ 2.95

$ 1.57

Diluted earnings per share (in dollars per share)

$ 3.54

$ 2.90

$ 1.54

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Statement of Comprehensive Income [Abstract]

Foreign currency translation adjustment

$ 404,459

$ 333,837

^[1]

$ 173,533

^[1]

Other comprehensive (loss) income

(27,445)

(28,803)

43,379

Cash flow hedges:

Change in unrealized gains

10,504

763

(8,153)

Reclassification to earnings

(1,689)

3,726

Tax effect on effective cash flow hedges

775

417

(2,038)

Change in fair value of cash flow hedges

9,590

4,906

(10,191)

Available-for-sale securities:

Net unrealized (loss) gain, net of taxes

(3,332)

2,440

(1,778)

Change in fair value of available-for-sale securities

(3,332)

2,440

(1,778)

Other comprehensive (loss) income

(21,187)

(21,457)

31,410

Comprehensive income

$ 383,272

$ 312,380

$ 204,943

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Operating activities:

Adjustments to reconcile net income to net cash provided by operating activities:

$ 404,459

$ 333,837

^[1]

$ 173,533

^[1]

Amortization and impairment of software development costs and licenses

167,925

201,221

^[1]

77,887

^[1]

Amortization of intellectual property

257,881

247,700

^[1]

116,349

^[1]

20,990

23,879

^[1]

34,830

^[1]

Depreciation

47,628

39,726

^[1]

32,202

^[1]

Amortization of discount on Convertible Notes

^[1]

15,662

^[1]

Impairment of in-process research and development

^[1]

11,257

^[1]

Deferred income taxes

(3,486)

110,603

^[1]

(32,523)

^[1]

Impairment of long-term investments

5,333

Gain on redemption of Convertible Notes

^[1]

(4,900)

^[1]

Other, net

3,741

584

^[1]

6,953

^[1]

Changes in assets and liabilities:

Accounts receivable

(195,484)

(98,075)

^[1]

(26,998)

^[1]

Inventory

8,489

(14,403)

^[1]

3,917

^[1]

Software development costs and licenses

(48,434)

(206,831)

^[1]

(225,269)

^[1]

Prepaid expenses, other current and other non-current assets

(259,817)

(275,800)

^[1]

(74,544)

^[1]

Deferred revenue

(55,460)

304,713

^[1]

198,397

^[1]

Deferred cost of goods sold

32,180

(24,882)

^[1]

(11,959)

^[1]

Accounts payable, accrued expenses and other liabilities

299,733

201,152

^[1]

198,733

^[1]

Net cash provided by operating activities

685,678

843,515

^[1]

493,527

^[1]

Investing activities:

Change in bank time deposits

196,720

(171,057)

^[1]

(40,918)

^[1]

Proceeds from available-for-sale securities

400,635

325,133

^[1]

241,012

^[1]

Purchases of available-for-sale securities

(499,991)

(282,534)

^[1]

(369,998)

^[1]

Purchases of fixed assets

(53,384)

(66,969)

^[1]

(61,557)

^[1]

Purchase of long-term investments

(27,891)

^[1]

(5,000)

^[1]

Business acquisitions, net of cash acquired

(12,040)

(28,149)

^[1]

(9,401)

^[1]

Asset acquisition

^[1]

(25,965)

^[1]

Net cash provided by (used in) investing activities

4,049

(223,576)

^[1]

(271,827)

^[1]

Financing activities:

(87,968)

(101,293)

^[1]

(112,884)

^[1]

Repurchase of common stock

(362,392)

^[1]

(154,792)

^[1]

Issuance of common stock

10,515

^[1]

Other

^[1]

(13,791)

^[1]

Net cash used in financing activities

(77,453)

(463,685)

^[1]

(281,467)

^[1]

Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents

(10,868)

(10,639)

^[1]

24,924

^[1]

Net change in cash, cash equivalents, and restricted cash and cash equivalents

601,406

145,615

^[1]

(34,843)

^[1]

Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year

^[1]

1,391,986

1,246,371

1,281,214

Cash, cash equivalents, and restricted cash equivalents, end of year

1,993,392

1,391,986

^[1]

1,246,371

^[1]

Supplemental data:

Interest paid

4,750

5,265

^[1]

4,121

^[1]

Income taxes paid

$ 27,998

$ 19,280

^[1]

$ 8,790

^[1]

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

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)

1.00% Convertible Notes due 2018

Common Stock

1.00% Convertible Notes due 2018

Additional Paid-in Capital

Balance (in shares) at Mar. 31, 2017

119,813

(17,192)

Balance at Mar. 31, 2017

$ 1,003,728

$ 1,198

$ 1,452,754

$ (303,388)

$ (99,694)

$ (47,142)

Increase (Decrease) in Stockholders' Equity

Change in cumulative foreign currency translation adjustment

173,533

^[1]

173,533

43,379

Change in unrealized gains on cash flow hedge, net

(10,191)

Net unrealized gain on available-for-sale securities, net of taxes

(1,778)

Issuance of restricted stock, net of forfeitures and cancellations (in shares)

293,214

2,151

Issuance of restricted stock, net of forfeitures and cancellations

$ 21

(21)

Repurchased common stock (in shares)

(1,513)

Repurchased common stock

(154,792)

$ (154,792)

Conversion of 1.00% Convertible Notes Due 2018 (in shares)

12,082

Conversion of 1.00% Convertible Notes Due 2018

$ 255,084

$ 121

$ 254,963

Net share settlement of restricted stock awards (in shares)

(1,303)

Net share settlement of restricted stock awards

(112,884)

$ (13)

(112,871)

Balance (in shares) at Mar. 31, 2018

132,743

(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

Change in cumulative foreign currency translation adjustment

333,837

^[1]

333,837

(33,456)

Change in cumulative foreign currency translation adjustment

(28,803)

Change in unrealized gains on cash flow hedge, net

4,906

Net unrealized gain on available-for-sale securities, net of taxes

2,440

Issuance of restricted stock, net of forfeitures and cancellations (in shares)

219,460

2,345

Issuance of restricted stock, net of forfeitures and cancellations

$ 23

(23)

Repurchased common stock (in shares)

(3,716)

Repurchased common stock

(362,392)

$ (362,392)

Conversion of 1.00% Convertible Notes Due 2018 (in shares)

377

Conversion of 1.00% Convertible Notes Due 2018

$ 8,112

$ 4

$ 8,108

Net share settlement of restricted stock awards (in shares)

(920)

Net share settlement of restricted stock awards

(101,293)

$ (9)

(101,284)

Employee share purchase plan settlement (in shares)

Employee share purchase plan settlement

$ 5,070

$ 1

5,069

Balance (in shares) at Mar. 31, 2019

134,602

(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

Change in cumulative foreign currency translation adjustment

404,459

(27,445)

Change in cumulative foreign currency translation adjustment

(27,445)

Change in unrealized gains on cash flow hedge, net

9,590

Net unrealized gain on available-for-sale securities, net of taxes

(3,332)

Issuance of restricted stock, net of forfeitures and cancellations (in shares)

192,845

1,970

Issuance of restricted stock, net of forfeitures and cancellations

$ 19

(19)

Net share settlement of restricted stock awards (in shares)

(771)

Net share settlement of restricted stock awards

(87,968)

$ (8)

(87,960)

Employee share purchase plan settlement (in shares)

126

Employee share purchase plan settlement

$ 10,515

$ 2

10,513

Balance (in shares) at Mar. 31, 2020

135,927

(22,421)

Balance at Mar. 31, 2020

$ 2,539,244

$ 1,359

$ 2,134,748

$ (820,572)

$ 1,282,085

$ (58,376)

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical)	Mar. 31, 2019	Mar. 31, 2018
1.00% Convertible Notes due 2018
Interest rate	1.00%	1.00%

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2020

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 principally through Rockstar Games, 2K, Private Division, and Social Point. 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.

Principles of Consolidation

The Consolidated Financial Statements include the financial statements of the Company and its wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated in consolidation.

Reclassifications

Certain immaterial amounts in the financial statements of the prior years have been reclassified to conform to the current year presentation for comparative purposes.

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, net revenue, and expense, as well as the disclosure of contingent assets and liabilities at the dates of the financial statements during the reporting periods. Our most significant estimates relate to revenue recognition (see Note 2 - Revenue from Contracts with Customers); the recoverability and amortization of software development costs, licenses, and intangible assets; the realization of deferred income taxes; the valuation of stock-based compensation; and assumptions used in our goodwill impairment tests. These estimates generally involve complex issues and require us to make judgments, involve analysis of historical and the prediction of future trends, and are subject to change from period to period. Actual amounts could differ significantly from these estimates, including as a result of the COVID-19 pandemic, which may affect economic conditions in a number of different ways and result in uncertainty and risk. We consider transactions or events that occur after the balance sheet date, but before the financial statements are issued, to provide additional evidence relative to certain estimates or to identify matters that require additional disclosures.

Segments

We have one operating and reportable segment. Our operations involve similar products and customers worldwide. Revenue earned is primarily derived from the sale of software titles, which are internally developed and developed by third parties. Our Chief Executive Officer, who is our Chief Operating Decision Maker ("CODM"), manages our operations on a consolidated basis--supplemented by sales information by product category, major product title, and platform--for the purpose of evaluating performance and allocating resources. Financial information about our one segment and geographic areas is included in Note 2 - Revenue from Contracts with Customers and Note 9 - Fixed Assets, Net.

Concentration of Credit Risk and Accounts Receivable

We maintain cash balances at several major financial institutions. While we attempt to limit credit exposure with any single institution, balances often exceed insurable amounts.

If the financial condition and operations of our customers deteriorate, our risk of collection could increase substantially. A majority of our trade receivables are derived from sales to major retailers, including digital storefronts and platform partners, and distributors. Our five largest customers accounted for 71.5%, 70.1% and 70.7% of net revenue during the fiscal years ended March 31, 2020, 2019 and 2018, respectively. One customer accounted for 31.9%, 31.3% and 30.2% of net revenue during the fiscal years ended March 31, 2020, 2019, and 2018, respectively. A second customer accounted for 20.0%, 18.1%, and 17.6% of net revenue during the fiscal years ended March 31, 2020, 2019, and 2018 respectively. A third customer accounted for 10.5% of net revenue during the fiscal year ended March 31, 2019. As of March 31, 2020 and 2019, five customers accounted for 58.1% and 66.6% of our gross accounts receivable, respectively. Customers that individually accounted for more than 10% of our gross accounts receivable balance comprised 48.8% and 55.8% of such balances at March 31, 2020 and 2019, respectively. We had two customers who accounted for 29.4% and 19.4% of our gross accounts receivable as of March 31, 2020 and two customers who accounted for 40.1% and 15.7% of our gross accounts receivable as of

March 31, 2019. We did not have any additional customers that exceeded 10% of our gross accounts receivable as of March 31, 2020 and 2019. Based upon performing ongoing credit evaluations, maintaining trade credit insurance on a majority of our customers and our past collection experience, we believe that the receivable balances from these largest customers do not represent a significant credit risk.

Cash and Cash Equivalents

We consider all highly liquid instruments purchased with original maturities of three months or less to be cash equivalents. Our restricted cash and cash equivalents balances are primarily related to a dedicated account limited to the payment of certain internal royalty obligations. Balances that are restricted from use for more than one year are classified as non-current.

Short-term Investments

Short-term investments designated as available-for-sale securities are carried at fair value, which is based on quoted market prices for such securities, if available, or is estimated on the basis of quoted market prices of financial instruments with similar characteristics. Investments with original maturities greater than 90 days and remaining maturities of less than one year are normally classified within Short-term investments on our Consolidated Balance Sheets. In addition, investments with maturities beyond one year at the time of purchase that are highly liquid in nature and represent the investment of cash that is available for current operations are classified as short-term investments.

Unrealized gains and losses of available-for-sale securities are excluded from earnings and are reported as a component of Other comprehensive income (loss), net of tax, until the security is sold, the security has matured, or we determine that the fair value of the security has declined below its adjusted cost basis and the decline is other-than-temporary. Realized gains and losses on short-term investments are calculated based on the specific identification method and would be reclassified from accumulated other comprehensive loss to Interest and other, net.

Short-term investments are evaluated for impairment quarterly. We consider various factors in determining whether we should recognize an impairment charge, including the credit quality of the issuer, the duration that the fair value has been less than the adjusted cost basis, the severity of the impairment, the reason for the decline in value, and our intent to sell and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. If we conclude that an investment is other-than-temporarily impaired, we recognize an impairment charge at that time in the Consolidated Statements of Operations. Determining whether the decline in fair value is other-than-temporary requires management judgment based on the specific facts and circumstances of each security. The ultimate value realized on these securities is subject to market price volatility until they are sold.

Inventory

Inventory consists of materials, including manufacturing royalties paid to console manufacturers, and is stated at the lower of weighted average cost or net realizable value. Estimated product returns are included in the inventory balance at their cost. We regularly review inventory quantities on-hand and in the retail channels and record an inventory provision for excess or obsolete inventory based on the future expected demand for our products. Significant changes in demand for our products would affect management's estimates in establishing our inventory provision. We write down inventory based on excess or obsolete inventories determined primarily by future anticipated demand for our products. Inventory write-downs are measured as the difference between the cost of the inventory and market value, based upon assumptions about future demand that are inherently difficult to assess.

Software Development Costs and Licenses

Capitalized software development costs include direct costs incurred for internally developed titles and payments made to third-party software developers under development agreements.

We capitalize internal software development costs (including specifically identifiable payroll expense, employee stock-based compensation, and incentive compensation costs related to the completion and release of titles, as well as third-party production and other content costs), subsequent to establishing technological feasibility of a software title. Technological feasibility of a product includes the completion of both technical design documentation and game design documentation. Significant management judgments are made in the assessment of when technological feasibility is established. For products where proven technology exists, this may occur early in the development cycle. Technological feasibility is evaluated on a product-by-product basis. Prior to establishing technological feasibility of a product, we record any costs incurred by third-party developers as research and development expenses.

We enter into agreements with third-party developers that require us to make payments for game development and production services. In exchange for our payments, we receive the exclusive publishing and distribution rights to the finished

game title as well as, in some cases, the underlying intellectual property rights. Such agreements typically allow us to fully recover these payments to the developers at an agreed upon royalty rate earned on the subsequent sales of such software, net of any agreed upon costs. Subsequent to establishing technological feasibility of a product, we capitalize all development and production service payments to third-party developers as software development costs and licenses. We typically enter into agreements with third-party developers after completing the technical design documentation for our products and therefore record the design costs leading up to a signed development contract as research and development expense. When we contract with third-party developers, we generally select those that have proven technology and experience in the genre of the software being developed, which often allows for the establishment of technological feasibility early in the development cycle. In instances where the documentation of the design and technology are not in place prior to an executed contract, we monitor the software development process and require our third-party developers to adhere to the same technological feasibility standards that apply to our internally developed products.

Licenses consist of payments and guarantees made to holders of intellectual property rights for use of their trademarks, copyrights or other intellectual property rights in the development of our products. Agreements with license holders generally provide for guaranteed minimum payments for use of their intellectual property. Certain licenses, especially those related to our sports products, extend over multi-year periods and encompass multiple game titles. In addition to guaranteed minimum payments, these licenses frequently contain provisions that could require us to pay royalties to the license holder based on pre-agreed unit sales thresholds.

Amortization of capitalized software development costs and licenses commences when a product is available for general release and is recorded on a title-by-title basis in cost of goods sold. For capitalized software development costs, annual amortization is calculated using (1) the proportion of current year revenue to the total revenue expected to be recorded over the life of the title or (2) the straight-line method over the remaining estimated life of the title, whichever is greater. For capitalized licenses, amortization is calculated as a ratio of (1) current year revenue to the total revenue expected to be recorded over the remaining estimated life of the title or (2) the contractual royalty rate based on actual net product sales as defined in the licensing agreement, whichever is greater. Amortization periods for our software products generally range from 12 to 36 months.

We evaluate the future recoverability of capitalized software development costs and licenses on a quarterly basis. Recoverability is primarily assessed based on the title's actual performance. For products that are scheduled to be released in the future, recoverability is evaluated based on the expected performance of the specific products to which the cost or license relates. We use a number of criteria in evaluating expected product performance, including historical performance of comparable products developed with comparable technology, market performance of comparable titles, orders for the product prior to its release, general market conditions, and past performance of the franchise. When we determine that capitalized cost of the title is unlikely to be recovered by product sales, an impairment of software development and license costs capitalized is charged to cost of goods sold in the period in which such determination is made.

We have profit and unit sales based internal royalty programs that allow selected employees to participate in the success of software titles that they assist in developing. Royalties earned under this program are recorded as a component of Cost of goods sold in the period earned. Amounts earned and not yet paid are reflected within the software development royalties component of Accrued expenses and other current liabilities on our Consolidated Balance Sheets.

Fixed Assets, net

Office equipment, furniture and fixtures are depreciated using the straight-line method over their estimated useful life of five years. Computer equipment and software are generally depreciated using the straight-line method over three to five years. Leasehold improvements are amortized over the lesser of the term of the related lease or the useful life of the underlying asset, typically seven years. The cost of additions and improvements are capitalized, and repairs and maintenance costs are charged to operations, in the periods incurred. When depreciable assets are retired or sold, the cost and related allowances for depreciation are removed from the accounts and the gain or loss, if any, is recognized. The carrying amounts of these assets are recorded at historical cost.

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 replaced all prior U.S. GAAP guidance on this topic as codified principally under Topic 840, Leases. 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. Refer to the Recently Adopted Accounting Pronouncements section below for the impact of adoption on our Consolidated Financial Statements.

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.

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. We do not separate non-lease components from the related lease components.

Goodwill and Intangible Assets

Goodwill is the excess of purchase price paid over identified intangible and tangible net assets of acquired companies. Intangible assets consist of intellectual property, developed game technology, analytics technology, user base, trade names, and in-process research and development. Certain intangible assets acquired in a business combination are recognized as assets apart from goodwill.

We use either the income, cost or market approach to aid in our conclusions of such fair values and asset lives. The income approach presumes that the value of an asset can be estimated by the net economic benefit to be received over the life of the asset, discounted to present value. The cost approach presumes that an investor would pay no more for an asset than its replacement or reproduction cost. The market approach estimates value based on what other participants in the market have paid for reasonably similar assets. Although each valuation approach is considered in valuing the assets acquired, the approach, or combination of approaches, ultimately selected is based on the characteristics of the asset and the availability of information.

We test our goodwill for impairment annually, or more frequently if events and circumstances indicate the fair value of a reporting unit may be below its carrying amount. A reporting unit is defined as an operating segment or one level below an operating segment. We have determined that we operate in two reporting units, which are components of our operating segment. In the evaluation of goodwill for impairment, we have the option to first perform a qualitative assessment to determine if the fair value of a reporting unit is more likely than not (i.e., a likelihood of more than 50%) less than the carrying value before performing a quantitative impairment test.

When a qualitative assessment is not used, or if the qualitative assessment is not conclusive, a quantitative impairment analysis for goodwill is performed at the reporting unit level. The quantitative goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying value exceeds the fair value, an impairment charge is recognized equal to the difference between the carrying value of the reporting unit and its fair value, considering the related income tax effect of any goodwill deductible for tax purposes.

In performing the quantitative assessment, we measure the fair value of the reporting unit using a combination of the income and market approaches. The assessment requires us to make judgments and involves the use of significant estimates and assumptions. These estimates and assumptions include long-term growth rates and operating margins used to calculate projected future cash flows, risk-adjusted discount rates based on our weighted average cost of capital, future economic and market conditions and the determination of appropriate, comparable market data. Our estimates for market growth are based on historical data, various internal estimates and observable external sources when available, and are based on assumptions that are consistent with the plans and estimates we use to manage the underlying business.

During the fiscal year ended March 31, 2019, we changed the measurement date for performing our annual goodwill impairment test from the beginning of August to the beginning of March. This voluntary change in accounting principle,

applied prospectively, was preferable as it aligns the annual goodwill impairment test date more closely with our internal budgeting process and did not delay, accelerate, or avoid an impairment of our goodwill.

Based on our annual impairment assessment process for goodwill, no impairments were recorded during the fiscal years ended March 31, 2020, 2019, or 2018. As of March 31, 2020, the goodwill balance of one of our reporting units is $152,175, and the fair value of that reporting unit approximates its carrying values. Therefore, a modest reduction in its fair value would result in an impairment charge, which would be equal to the excess of the carrying value over the fair value of such assets.

Long-lived Assets

We review all long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amount of an asset or asset group may not be recoverable. We compare the carrying amount of the asset to the estimated undiscounted future cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, we record an impairment charge for the difference between the carrying amount of the asset and its fair value. The estimated fair value is generally measured by discounting expected future cash flows using our incremental borrowing rate or fair value, if available. As of March 31, 2020, no indicators of impairment existed.

Derivatives and Hedging

We transact business in various foreign currencies and have significant sales and purchase transactions denominated in foreign currencies, subjecting us to foreign currency exchange rate risk. From time to time, we carry out transactions involving foreign currency exchange derivative financial instruments. The transactions are designed to hedge our exposure in currency exchange rate movements. We recognize derivative instruments as either assets or liabilities on our Consolidated Balance Sheets and we measure those instruments at fair value. The changes in fair value of derivatives that are not designated as hedges are recognized currently in earnings as interest and other, net in our Consolidated Statements of Operations. If a derivative meets the definition of a cash flow hedge and is so designated, the effective portion of changes in the fair value of the derivative are recognized, as a component of other comprehensive income (loss) while the ineffective portion of the changes in fair value is recorded currently in earnings as interest and other, net in our Consolidated Statements of Operations. Amounts included in Accumulated other comprehensive income (loss) for cash flow hedges are reclassified into earnings in the same period that the hedged item is recognized in Cost of goods sold, Research and development expenses, or Interest and other, net, as appropriate.

Income Taxes

We record a tax provision for the anticipated tax consequences of the reported results of operations. Our provision for income taxes is computed using the asset and liability method, under which deferred income taxes are recognized for differences between the financial statement and tax bases of assets and liabilities at currently enacted statutory tax rates for the years in which the differences are expected to reverse. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment.

Valuation allowances are established when we determine that it is more likely than not that such deferred tax assets will not be realized. We do not record income tax expense related to foreign withholding taxes or United States income taxes that may become payable upon the repatriation of undistributed earnings of foreign subsidiaries, as such earnings are expected to be reinvested indefinitely outside of the United States.

We use estimates and assumptions to compute the provision for income taxes including allocations of certain transactions to different tax jurisdictions, amounts of permanent and temporary differences, the likelihood of deferred tax assets being recovered and the outcome of contingent tax risks. These estimates and assumptions are revised as new events occur, more experience is acquired and additional information is obtained. The effect of these revisions is recorded in income tax expense or benefit in the period in which they become known.

In December 2017, the U.S. enacted the Tax Cuts and Jobs Act (the "Tax Act"), which, among other provisions, subjects a U.S. shareholder to current tax on Global Intangible Low-Taxed Income ("GILTI") earned by foreign subsidiaries. We have elected to recognize the resulting tax on GILTI as an expense in the period incurred.

Revenue Recognition

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the new standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. On April 1, 2018, we adopted the new accounting standard and related amendments (the “New Revenue Accounting Standard”) using the modified retrospective method. Refer to Note 1 to our Consolidated Financial Statements in our Annual Report on Form 10-K for the

fiscal year ended March 31, 2018 for our revenue recognition accounting policy as it relates to revenue transactions prior to April 1, 2018.

We derive revenue primarily from the sale of our interactive entertainment content, principally for console gaming systems and personal computers, including smartphones and tablets. Our interactive entertainment content consists of full game software products that may contain offline gameplay, online gameplay, or a combination of offline and online gameplay. We may also sell separate downloadable add-on content to supplement our full game software products. Certain of our software products provide customers with the option to acquire virtual currency or make in-game purchases.

We determine revenue recognition by:

•identifying the contract, or contracts, with the customer;

•identifying the performance obligations in the contract;

•determining the transaction price;

•allocating the transaction price to performance obligations in the contract; and

•recognizing revenue when, or as, we satisfy performance obligations by transferring the promised goods or services.

We recognize revenue in the amount that reflects the consideration we expect to receive in exchange for the sales of software products and game related services when control of the promised products and services is transferred to our customers and our performance obligations under the contract have been satisfied. Revenue is recorded net of transaction taxes assessed by governmental authorities such as sales, value-added and other similar taxes.

Our software products are sold as full games, which typically provide access to the main game content, primarily for console and PC. Generally, our full game software products deliver a license of our intellectual property that provides a functional offline gaming experience (i.e., one that does not require an Internet connection to access the main game content or other significant game related services). We recognize revenue related to the license of our intellectual property that provides offline functionality at the time control of the products have been transferred to our customers (i.e. upon delivery of the software product).

In addition, some of our full game software products that provide a functional offline gaming experience may also include significant game related services delivered over time, such as online functionality that is dependent upon online support services and/or additional free content updates. For full game sales that offer offline functionality and significant game related services we evaluate whether the license of our intellectual property and the game related services are distinct and separable. This evaluation is performed for each software product sold. If we determine that our software products contain a license of intellectual property separate from the game related services (i.e. multiple performance obligations), we estimate a standalone selling price for each identified performance obligation. We allocate the transaction price to each performance obligation using a relative standalone selling price method (the transaction price is allocated to a performance obligation based on the proportion of the standalone selling price of each performance obligation to the sum of the standalone selling prices for all performance obligations in the contract). For the portion of the transaction price allocable to the license, revenue is recognized when the customer takes control of the product. For the portion of the transaction price allocated to game related services, revenue is recognized ratably over an estimated service period for the related software product. We also defer related product costs and recognize the costs as the revenues are recognized.

Certain of our full game software products are delivered primarily as an online gaming experience with substantially all gameplay requiring online access to our game related services. We recognize revenue for full game software products that are dependent on our game related services over an estimated service period. For our full game online software products, we also defer related product costs and recognize the costs as the revenue is recognized.

In addition to sales of our full game software products, certain of our software products provide customers with the option to acquire virtual currency or make in-game purchases. Revenue from the sale of virtual currency and in-game purchases is deferred and recognized ratably over an estimated service period.

We also sell separate downloadable add-on content to supplement our full game software products. Revenue from the sale of separate downloadable add-on content is evaluated for revenue recognition on the same basis as our full game software products.

Certain software products are sold to customers with a “street date” (the earliest date these products may be sold by these retailers). For the transaction price related to the license for these products that also provide a functional offline gaming experience, we recognize revenue on the later of the street date or the sale date as this is generally when we have transferred

control of this performance obligation. For the sale of physical software products, recognition of revenue allocated to game related services does not begin until the product is sold-through by our customer to the end user. We currently estimate sell-through to the end user for all our titles to be approximately two months after we have sold-in the software products to retailers. Determining the estimated sell-through period requires management judgment and estimates.

In addition, some of our software products are sold as digital downloads. Revenue from digital downloads generally commences when the download is made available to the end user by a third-party digital storefront.

Our payment terms and conditions vary by customer and typically provide net 30 to 60 day terms. In instances where the timing of revenue recognition differs from the timing of invoicing, we do not adjust the promised amount of consideration for the effects of a significant financing component when we expect, at contract inception, that the period between our transfer of a promised product or service to our customer and payment for that product or service will be one year or less.

In certain countries, we use third-party licensees to distribute and host our games in accordance with license agreements, for which the licensees typically pay us a fixed minimum guarantee and sales-based royalties. These arrangements typically include multiple performance obligations, such as an upfront license of intellectual property and rights to future updates. Based on the allocated transaction price, we recognize revenue associated with the minimum guarantee when we transfer control of the upfront license of intellectual property (generally upon commercial launch) and the remaining portion ratably over the contractual term in which we provide the licensee with future update rights. Royalty payments in excess of the minimum guarantee are generally recognized when the licensed product is sold by the licensee.

Contract Balances

We generally record a receivable related to revenue when we have an unconditional right to invoice and receive payment, and we record deferred revenue when cash payments are received or due in advance of satisfying our performance obligations, even if amounts are refundable. Contract assets generally consist of arrangements for which we have recognized revenue to the extent it is probable that significant reversal will not occur but do not have a right to invoice as of the reporting date. Contract assets are recorded within Prepaid expenses and other on our Consolidated Balance Sheet.

Our allowance for doubtful accounts are typically immaterial and, if required, are based on our best estimate of probable losses inherent in our accounts receivable balance.

Deferred revenue is comprised primarily of unsatisfied revenue related to the portion of the transaction price allocable to game related services of our full game software products and sales of virtual currency. These sales are typically invoiced at the beginning of the contract period, and revenue is recognized ratably over the estimated service period. Deferred revenue may also include amounts related to software products with future street dates.

Refer to Note 2 - Revenue from Contracts with Customers for further information, including changes in deferred revenue during the period.

Principal Agent Considerations

We offer certain software products via third party digital storefronts, such as Microsoft’s Xbox Live, Sony’s PlayStation Network, Valve's Steam, Epic Games Store, Apple's App Store, and the Google Play Store. For sales of our software products via third party digital storefronts, we determine whether or not we are acting as the principal in the sale to the end user, which we consider in determining if revenue should be reported based on the gross transaction price to the end user or based on the transaction price net of fees retained by the third-party digital storefront. An entity is the principal if it controls a good or service before it is transferred to the customer. Key indicators that we use in evaluating these sales transactions include, but are not limited to, the following:

•the underlying contract terms and conditions between the various parties to the transaction;

•which party is primarily responsible for fulfilling the promise to provide the specified good or service; and

•which party has discretion in establishing the price for the specified good or service.

Based on our evaluation of the above indicators, for sales arrangements via Microsoft’s Xbox Live, Sony’s PlayStation Network, Valve's Steam, and Epic Games Store we have determined we are not the principal in the sales transaction to the end user and therefore we report revenue based on the consideration received from the digital storefront. For sales arrangements via Apple's App Store and the Google Play Store, we have determined that we are the principal to the end user and thus report revenue on a gross basis and mobile platform fees charged by these digital storefronts are expensed as incurred and reported within Cost of goods sold.

Shipping and Handling

Shipping and handling costs are incurred to move physical software products to customers. We recognize all shipping and handling costs as an expense in Cost of goods sold because we are responsible for delivery of the product to our customers prior to transfer of control to the customer.

Estimated Service Period

For certain performance obligations satisfied over time, we have determined that the estimated service period is the time period in which an average user plays our software products (“user life”) which most faithfully depicts the timing of satisfying our performance obligation. We consider a variety of data points when determining and subsequently reassessing the estimated service period for players of our software products. Primarily, we review the weighted average number of days between players’ first and last days played online. When a new game is launched and therefore no history of online player data is available, we consider other factors to determine the user life, such as the estimated service period of other games actively being sold with similar characteristics. We also consider known online trends, the service periods of our previously released software products, and, to the extent publicly available, the service periods of our competitors’ software products that are similar in nature to ours. We believe this provides a reasonable depiction of the transfer of our game related services to our customers, as it is the best representation of the period during which our customers play our software products. Determining the estimated service period is subjective and requires significant management judgment and estimates. Future usage patterns may differ from historical usage patterns, and therefore the estimated service period may change in the future. The estimated service periods for players of our current software products are generally between 6 and 15 months depending on the software product.

Revenue Arrangements with Multiple Performance Obligations

Our contracts with customers often include promises to transfer multiple products and services. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together requires significant judgment. For software products in which the software license has offline functionality and benefits from meaningful game related services, which may include online functionality that is dependent on our online support services and/or additional free content updates, we believe we have separate performance obligations for the license of the intellectual property and the game related services. Additionally, because each of our product offerings has unique features and because we do not sell our game related services separately, we typically do not have observable standalone selling prices for each performance obligation. Significant judgment and estimates are also required to determine the standalone selling price for each distinct performance obligation and whether a discount needs to be allocated based on the relative standalone selling price of our products and services.

To estimate the standalone selling price for each performance obligation, we consider, to the extent available, a variety of data points such as past selling prices of the product or other similar products, competitor pricing, and market data. If observable pricing is not available, we use an expected cost-plus margin approach taking into account relevant costs including product development, post-release support, marketing and licensing costs. This evaluation is performed on a product by product basis.

Price Protection and Allowances for Returns

We grant price protection and accept returns in connection with our distribution arrangements. Following reductions in the price of our physical software products, we grant price protection to permit customers to take credits against amounts they owe us with respect to merchandise unsold by them. Our customers must satisfy certain conditions to entitle them to receive price protection or return products, including compliance with applicable payment terms and confirmation of field inventory levels.

At contract inception and at each subsequent reporting period, we make estimates of price protection and product returns related to current period software product revenue. We estimate the amount of price protection and returns for software products based upon, among other factors, historical experience and performance of the titles in similar genres, historical performance of the hardware platform, customer inventory levels, analysis of sell-through rates, sales force and retail customer feedback, industry pricing, market conditions, and changes in demand and acceptance of our products by consumers.

Revenue is recognized after deducting the estimated price protection and allowances for returns, which are accounted for as variable consideration. Price protection and allowances for returns are considered refund liabilities and are reported within Accrued expenses and other current liabilities on our Consolidated Balance Sheet.

Sales Incentives

We enter into various sales incentive arrangements with our customers, such as rebates, discounts, and cooperative marketing. These incentives are considered adjustments to the transaction price of our software products and are reflected as

reductions to revenue. Sales incentives incurred by us for distinct goods or services received, such as the appearance of our products in a customer’s national circular ad, are included in Selling and marketing expense if there is a separate identifiable benefit and the benefit’s fair value can be established. Otherwise, such sales incentives are reflected as a reduction to revenue and are considered refund liabilities, which are reported within Accrued expenses and other current liabilities in our Consolidated Balance Sheet.

Significant Estimates

Significant management judgment and estimates must be used in connection with many of the determinations described above, such as estimating the fair value allocation to distinct and separable performance obligations, the service period over which to defer recognition of revenue, the time it takes our physical products to sell-through to end users, and the amounts of price protection. We believe we can make reliable estimates. However, actual results may differ from initial estimates due to changes in circumstances, market conditions, and assumptions. Adjustments to estimates are recorded in the period in which they become known.

Advertising

We expense advertising costs as incurred, except for production costs associated with media advertising, which are deferred and charged to expense when the related advertisement is run for the first time. Advertising, marketing, and other promotional expenses for the fiscal years ended March 31, 2020, 2019 and 2018 amounted to $285,607, $249,315 and $140,618, respectively, and are included in "Selling and marketing expense" in our Consolidated Statements of Operations.

Stock-based Compensation

We have stock-based compensation plans that are broad-based long-term retention programs intended to attract and retain talented employees and align stockholder and employee interests, which allows for awards of restricted stock, restricted stock units and other stock-based awards of our common stock to employees and non-employees. Our plans include time-based, market-based, and performance-based awards of our common stock to employees and non-employees.

We account for stock-based awards under the fair value method of accounting. The fair value of all stock-based compensation is either capitalized and amortized in accordance with our software development cost accounting policy or recognized as expense on a straight-line basis over the full vesting period of the awards for time-based stock awards and on an accelerated attribution method for market-based and performance-based stock awards.

We estimate the fair value of time-based awards using our closing stock price on the date of grant. We estimate the fair value of market-based awards using a Monte Carlo Simulation method, which takes into account assumptions such as the expected volatility of our common stock, the risk-free interest rate based on the contractual term of the award, expected dividend yield, vesting schedule and the probability that the market conditions of the awards will be achieved. For performance-based shares, we do not record expense until the performance criteria are considered probable.

Stock-based compensation expense is recorded net of forfeitures as they occur.

Earnings (loss) per Share ("EPS")

Basic EPS is computed by dividing the net income (loss) applicable to common stockholders for the period by the weighted average number of shares of common stock outstanding during the same period. Diluted EPS is computed by dividing the net income (loss) applicable to common stockholders for the period by the weighted average number of shares of common stock and common stock equivalents outstanding.

Certain of our unvested stock-based 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 require the two-class method of computing EPS. The calculation of EPS for common stock under the two-class method excludes the income attributable to the participating securities from the numerator and excludes the dilutive effect of those awards from the denominator.

We define common stock equivalents as unvested stock-based awards and common stock underlying our Convertible Notes (see Note 12 - Debt) outstanding during the period. Common stock equivalents are measured using the treasury stock method, and common stock equivalents underlying the Convertible Notes are assessed for their effect on diluted EPS using the more dilutive of the treasury stock method or the if-converted method. Under the provisions of the if-converted method, the Convertible Notes are assumed to be converted and included in the denominator of the EPS calculation and the interest expense, net of tax, recorded in connection with the Convertible Notes is added back to the numerator. However, potential common shares are not included in the denominator of the diluted earnings (loss) per share calculation when inclusion of such shares would be anti-dilutive, such as in a period in which a net loss is recorded.

Foreign Currency

The functional currency for our foreign operations is primarily the applicable local currency. Accounts of foreign operations are translated into U.S. dollars using exchange rates for assets and liabilities at the balance sheet date and average prevailing exchange rates for the period for revenue and expense accounts. Adjustments resulting from translation are included in accumulated other comprehensive income (loss). Realized and unrealized transaction gains and losses are included in our Consolidated Statements of Operations in the period in which they occur.

Comprehensive Income (Loss)

Comprehensive income (loss) is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Accumulated other comprehensive income (loss) includes foreign currency translation adjustments, which relate to investments that are permanent in nature and therefore do not require tax adjustments, and the amounts for unrealized gains (losses), net on derivative instruments designated as cash flow hedges, as well as any associated tax impact, and available for sale securities.

Recently Adopted Accounting Pronouncements

Accounting for Leases

As noted in our Lease accounting policy above, we adopted the New Lease Accounting Standard Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) effective April 1, 2019.

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, our assessment of whether a contract is or contains a lease and our 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.

Impact of Adoption

As a result of adopting Topic 842, the following adjustments, including reclassifying prepaid and deferred rent to ROU assets, 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

Recently Issued Accounting Pronouncements

Accounting for Reference Rate Reform

In March 2020, the FASB issued ASU 2020-01, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional guidance to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as interbank offered rates and LIBOR. The guidance includes practical expedients for contract modifications due to reference rate reform. Generally, contract modifications related to reference rate reform may be considered an event that does not require remeasurement or

reassessment of a previous accounting determination at the modification date. This guidance is effective immediately and is only available through December 31, 2022. We are currently evaluating the potential impact of adopting this guidance on our Consolidated Financial Statements.

Accounting for Income Taxes

In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning December 15, 2020 (April 1, 2021 for the Company), with early adoption permitted. We are currently evaluating the potential impact of adopting this guidance on our Consolidated Financial Statements.

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.

Accounting for Credit Losses

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that will require the reflection of expected credit losses and will also require consideration of a broader range of reasonable and supportable information to determine credit loss estimates. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. For most financial instruments, the standard will require the use of a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which will generally result in the earlier recognition of credit losses on financial instruments. ASU 2016-13 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. These changes will be applied on a modified retrospective basis, with the cumulative effect of adoption recorded as an adjustment to retained earnings. We are continuing to monitor the economic implications of the COVID-19 pandemic, but we do not expect that the impact of adopting this guidance will be material to our Consolidated Financial Statements.

REVENUE FROM CONTRACTS WITH CUSTOMERS

12 Months Ended

Mar. 31, 2020

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 our software products that include game related services, or separate 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:


	Twelve Months Ended March 31,
	2020		2019
Net revenue recognized:
Service and other	$	1,839,696	$	1,319,033
Product	1,249,274		1,349,361
Total net revenue	$	3,088,970	$	2,668,394

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:


	Twelve Months Ended March 31,
	2020		2019
Net revenue recognized:
Full game and other	$	1,703,971	$	1,597,478
Recurrent consumer spending	1,384,999		1,070,916
Total net revenue	$	3,088,970	$	2,668,394

Geography

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


	Twelve Months Ended March 31,
	2020		2019		2018⁽¹⁾
Net revenue recognized:
United States	$	1,775,682	$	1,426,906	$	1,052,313
International	1,313,288		1,241,488		740,579
Total net revenue	$	3,088,970	$	2,668,394	$	1,792,892

(1) This disaggregated revenue category had previously been disclosed as part of Note 17 - Segment and Geographic Information in our Annual Report on Form 10-K for the fiscal year ended March 31, 2018. Amounts have not been retrospectively adjusted to reflect the adoption of ASC Topic 606.

Platform

Net revenue by platform was as follows:


	Twelve Months Ended March 31,
	2020		2019		2018⁽¹⁾
Net revenue recognized:
Console	$	2,308,602	$	2,233,861	$	1,463,306
PC and other	780,368		434,533		329,586
Total net revenue	$	3,088,970	$	2,668,394	$	1,792,892

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:


	Twelve Months Ended March 31,
	2020		2019		2018⁽¹⁾
Net revenue recognized:
Digital online	$	2,378,563	$	1,681,609	$	1,130,946
Physical retail and other	710,407		986,785		661,946
Total net revenue	$	3,088,970	$	2,668,394	$	1,792,892

Deferred Revenue

We record deferred revenue when payments are due or received in advance of the fulfillment of our associated performance obligations. The opening balance and ending balance of deferred revenue, including current and non-current balances as of March 31, 2020 and March 31, 2019 were $806,123 and $864,360, respectively. For the twelve months ended March 31, 2020, the additions to our deferred revenue balance were primarily due to cash payments received or due in advance of satisfying our performance obligations, while the reductions to our deferred revenue balance were primarily due to the recognition of revenue upon fulfillment of our performance obligations, both of which were in the ordinary course of business.

During the twelve months ended March 31, 2020, $850,266 of revenue was recognized that was included in the deferred revenue balance at the beginning of the period. As of March 31, 2020, the aggregate amount of contract revenue allocated to unsatisfied performance obligations is $889,287, which includes our deferred revenue balances and amounts to be invoiced and recognized as revenue in future periods. We expect to recognize approximately $800,549 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 March 31, 2020 and March 31, 2019, our contract asset balances were $81,625 and $57,643, respectively.

MANAGEMENT AGREEMENT	12 Months Ended
MANAGEMENT AGREEMENT	Mar. 31, 2020
MANAGEMENT AGREEMENT
MANAGEMENT AGREEMENT	MANAGEMENT AGREEMENT In March 2014, we entered into an amended management services agreement, (the "2014 Management Agreement") with ZelnickMedia Corporation ("ZelnickMedia") pursuant to which ZelnickMedia provided us with certain management, consulting and executive level services. The 2014 Management Agreement became effective April 1, 2014. The 2014 Management Agreement provided for an annual management fee of $2,970 over the term of the agreement and a maximum annual bonus opportunity of $4,752 over the term of the agreement, based on the Company achieving certain performance thresholds. In November 2017, we entered into a new management agreement, (the "2017 Management Agreement"), with ZelnickMedia pursuant to which ZelnickMedia continues to provide financial and management consulting services to the Company through March 31, 2024. The 2017 Management Agreement became effective January 1, 2018 and supersedes and replaces the 2014 Management Agreement, except as otherwise contemplated by the 2017 Management Agreement. 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 $10,540, $9,265, and $8,426 for the fiscal years ended March 31, 2020, 2019, and 2018, respectively. Pursuant to the 2017 Management Agreement and 2014 Management Agreement, we also issued stock-based awards to ZelnickMedia. During the fiscal years ended March 31, 2020, 2019, and 2018, we recorded $23,413, $21,257, and $32,801, respectively, of stock-based compensation expense for non-employee awards, which is included in General and administrative expenses. See Note 17 - Stock-Based Compensation for a discussion of such awards.

FAIR VALUE MEASUREMENTS

12 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The carrying amounts of our financial instruments, including cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, accounts payable and accrued 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 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.


	March 31, 2020		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	$	497,861	$	497,861	$	—	$	—	Cash and cash equivalents
Bank-time deposits	313,757		313,757		—		—		Cash and cash equivalents
Commercial paper	97,544		—		97,544		—		Cash and cash equivalents
Corporate bonds	9,888		—		9,888		—		Cash and cash equivalents
Money market funds	546,604		546,604		—		—		Restricted cash and cash equivalents
Corporate bonds	334,631		—		334,631		—		Short-term investments
Bank-time deposits	191,000		191,000		—		—		Short-term investments
US Treasuries	30,819		30,819		—		—		Short-term investments
Commercial paper	87,553		—		87,553		—		Short-term investments
Cross-currency swap	11,275		—		11,275		—		Prepaid expenses and other
Money market funds	89,124		89,124		—		—		Long-term restricted cash and cash equivalents
Private equity	2,759		—		—		2,759		Other assets
Foreign currency forward contracts	(11)		—		(11)		—		Accrued expenses and other current liabilities
Total recurring fair value measurements, net	$	2,212,804	$	1,669,165	$	540,880	$	2,759


	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
US Treasuries	55,634		55,634		—		—		Short-term investments
Commercial paper	4,990		—		4,990		—		Short-term investments
Corporate bonds	296,141		—		296,141		—		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 expenses 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 fiscal year ended March 31, 2020.

Investments, Debt and Equity Securities [Abstract]

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

SHORT-TERM INVESTMENTS

12 Months Ended

Mar. 31, 2020

SHORT TERM INVESTMENTS

SHORT-TERM INVESTMENTS

Our short-term investments consisted of the following as of March 31, 2020:


	March 31, 2020
	Cost or Amortized Cost		Gross Unrealized
					Gains			Losses			Fair Value
Short-term investments
Bank time deposits	$	191,000	$	—		$	—		$	191,000
Available-for-sale securities:
Corporate bonds	337,752		307			(3,428)			334,631
US Treasuries	30,481		338			—			30,819
Commercial paper	87,553		—			—			87,553

Total short-term investments	$	646,786	$	645		$	(3,428)		$	644,003


	March 31, 2019
	Cost or Amortized Cost		Gross Unrealized
					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 evaluation of impairment for these investments, we did not consider any of these investments to be other-than-temporarily impaired as of March 31, 2020 or 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 March 31, 2020:


	March 31, 2020
	Amortized Cost		Fair Value
Short-term investments
Due in 1 year or less	$	496,639	$	495,645
Due in 1-2 years	150,147		148,358
Total short-term investments	$	646,786	$	644,003

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES

12 Months Ended

Mar. 31, 2020

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 classify cash flows from its 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:


	March 31,
	2020		2019
Forward contracts to sell foreign currencies	$	122,024	$	116,590
Forward contracts to purchase foreign currencies	$	52,596	$	87,793

For the fiscal years ended March 31, 2020, 2019 and 2018, we recorded a loss of $959, a gain of $16,831, and a loss of $19,473, respectively, related to foreign currency forward contracts in Interest and other, net on the Consolidated Statements of Operations. Our derivative contracts are foreign currency exchange forward contracts that 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 March 31, 2020, the notional amount of the cross-currency swap is $108,867. 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 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

12 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

INVENTORY

Inventory balances by category are as follows:


	March 31,
	2020		2019
Finished products	$	17,984	$	24,847
Parts and supplies	1,124		3,353
Inventory	$	19,108	$	28,200

Estimated product returns included in inventory at March 31, 2020 and 2019 were $506 and $491, respectively.

SOFTWARE DEVELOPMENT COSTS AND LICENSES

12 Months Ended

Mar. 31, 2020

SOFTWARE DEVELOPMENT COSTS AND LICENSES

SOFTWARE DEVELOPMENT COSTS AND LICENSES

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


	March 31,
	2020						2019
	Current		Non-current		Current		Non-current
Software development costs, internally developed	$	17,367	$	305,970	$	14,809	$	434,712
Software development costs, externally developed	10,971		92,908		3,655		168,381
Licenses	11,978		2,900		10,416		343
Software development costs and licenses	$	40,316	$	401,778	$	28,880	$	603,436

Software development costs and licenses, net of current portion as of March 31, 2020 and 2019 included $333,063 and $378,030, respectively, related to titles that have not been released.

Amortization and impairment of software development costs and licenses are as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
Amortization of software development costs and licenses	$	321,956	$	342,870	$	101,437
Impairment of software development costs and licenses	—		7,426		1,060
Less: Portion representing stock-based compensation	(154,031)		(149,075)		(24,610)
Amortization and impairment, net of stock-based compensation	$	167,925	$	201,221	$	77,887

During the twelve months ended March 31, 2019, we recorded $7,426 of software development impairment charges (a component of Cost of goods sold). The impairment charges related to a decision not to proceed with further development of certain interactive entertainment software.

FIXED ASSETS, NET

12 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

FIXED ASSETS, NET

Fixed asset balances by category are as follows:


	March 31,
	2020		2019
Computer equipment	$	127,897	$	118,841
Leasehold improvements	113,057		99,093
Computer software	60,507		52,641
Furniture and fixtures	16,520		16,179
Office equipment	12,109		10,758
	330,090		297,512
Less: accumulated depreciation	(198,202)		(169,630)
Fixed assets, net	$	131,888	$	127,882

Depreciation expense related to fixed assets for the fiscal years ended March 31, 2020, 2019 and 2018 was $47,628, $39,726 and $32,202, respectively.

The following represents our fixed assets, net by location:


	March 31,
	2020		2019
United States	$	87,153	$	78,197
International	44,735		49,685
Fixed assets, net	$	131,888	$	127,882

GOODWILL AND INTANGIBLE ASSETS, NET

12 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS, NET

Goodwill

The change in our goodwill balance is as follows:


	Total
Balance at March 31, 2018	$	399,530
Additions from immaterial acquisition	3,149
Currency translation adjustment	$	(20,962)
Balance at March 31, 2019	$	381,717
Additions from immaterial acquisition	13,205
Currency translation adjustment	$	(8,428)
Balance at March 31, 2020	$	386,494

Definite-lived intangibles

The following table sets forth the intangible assets that are subject to amortization:


	March 31,
	2020										2019
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average useful life
Developed game technology	64,336		(42,425)		21,911		65,428		(32,975)		32,453		4 years
Intellectual property	$	26,109	$	(10,836)	$	15,273	$	26,109	$	(6,524)	$	19,585	6 years
Analytics technology	30,711		(19,450)		11,261		31,271		(13,551)		17,720		5 years
Branding and trade names	4,343		(1,528)		2,815		4,422		(1,065)		3,357		9 years
Total definite-lived intangible assets	$	125,499	$	(74,239)	$	51,260	$	127,230	$	(54,115)	$	73,115

Amortization of intangible assets is included in our Consolidated Statements of Operations as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
Cost of goods sold	$	14,325	$	16,937	$	19,719
Selling and marketing	—		—		8,107
Research and development	6,180		6,436		6,494
Depreciation and amortization	485		506		510
Total amortization of intangible assets	$	20,990	$	23,879	$	34,830

Estimated future amortization of intangible assets that will be recorded in cost of goods sold and operating expenses for the years ending March 31, are as follows:


Fiscal Year Ended March 31,	Amortization
2021	$	20,527
2022	18,934
2023	7,010
2024	3,831
2025	524

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

12 Months Ended

Mar. 31, 2020

Liabilities, Current [Abstract]

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of:


	March 31,
	2020		2019
Software development royalties	$	822,416	$	713,201
Compensation and benefits	81,791		73,695
Refund Liability	77,829		65,853
Licenses	57,651		56,221
Marketing and promotions	40,797		42,390


Other	89,400		84,335
Accrued expenses and other current liabilities	$	1,169,884	$	1,035,695

DEBT

12 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

DEBT

Credit Agreement

On February 8, 2019, we entered into an unsecured credit agreement (the “Credit Agreement”). The Credit Agreement replaced our prior credit agreement, which was terminated on the same day. 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 Credit Agreement will bear interest at a rate of (a) 0.250% to 0.750% above a certain base rate (5.50% at March 31, 2020) or (b) 1.125% to 1.750% above LIBOR (approximately 1.66% at March 31, 2020), which rates are determined by reference to our consolidated total net leverage ratio. We had no outstanding borrowings at March 31, 2020.

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


	March 31,		March 31,
	2020		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 $275 and $372, for the fiscal years ended March 31, 2020 and 2019, respectively and, under a prior credit agreement that was terminated on the same day that we entered into the Credit Agreement, $472 and $441, for the fiscal years ended March 31, 2019 and 2018, respectively. 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).

1.00% Convertible Notes Due 2018

On June 18, 2013, we issued $250,000 aggregate principal amount of 1.00% Convertible Notes due 2018. The Convertible Notes were issued at 98.5% of par value for proceeds of $283,188, which included a $37,500 overallotment option that was exercised. Interest on the Convertible Notes was payable semi-annually in arrears on July 1st and January 1st of each year, commencing on January 1, 2014. The Convertible Notes matured on July 1, 2018.

The following table provides the components of interest expense related to our Convertible Notes:


	Fiscal Year Ended March 31,
	2020		2019		2018
Cash interest expense (coupon interest expense)	$	—	$	1	$	539
Non-cash amortization of discount on 1.00% Convertible Notes	—		91		15,662
Amortization of debt issuance costs	—		3		466
Total interest expense related to 1.00% Convertible Notes	$	—	$	95	$	16,667

EARNINGS (LOSS) PER SHARE ("EPS")

12 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

EARNINGS PER SHARE (EPS)

EARNINGS PER SHARE ("EPS")

The following table sets forth the computation of basic and diluted EPS (in thousands except per share amounts):


	Fiscal Year Ended March 31,
	2020		2019		2018
Computation of Basic earnings per share:
Net income	$	404,459	$	333,837	$	173,533
Less: net income allocated to participating securities	—		—		(159)
Net income for basic earnings per share calculation	$	404,459	$	333,837	$	173,374
Total weighted average shares outstanding—basic	113,096		113,176		110,210
Less: weighted average participating shares outstanding	—		—		(101)
Weighted average common shares outstanding—basic	113,096		113,176		110,109
Basic earnings per share	$	3.58	$	2.95	$	1.57
Computation of Diluted earnings per share:
Net income	$	404,459	$	333,837	$	173,533
Less: net income allocated to participating securities	—		—		(155)

Net income for diluted earnings per share calculation	$	404,459	$	333,837	$	173,378
Weighted average common shares outstanding—basic	113,096		113,176		110,109
Add: dilutive effect of common stock equivalents	1,040		2,022		2,755
Weighted average common shares outstanding—diluted	114,136		115,198		112,864
Less: weighted average participating shares outstanding	—		—		(101)
Weighted average common shares outstanding- diluted	114,136		115,198		112,763
Diluted earnings per share	$	3.54	$	2.90	$	1.54

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 March 31, 2020, we have no material participating securities.

The calculation of EPS for common stock under the two-class method shown above excludes income attributable to the participating securities from the numerator and excludes the dilutive effect of those awards from the denominator.

We define common stock equivalents as stock-based awards and common stock related to our Convertible Notes (see Note 12 - Debt) outstanding during the period. Common stock equivalents are measured using the treasury stock method, except for the Convertible Notes, which were assessed for their effect on diluted EPS using the more dilutive of the treasury stock method or the if-converted method. Under the provisions of the if-converted method, the Convertible Notes are assumed to be converted and included in the denominator of the EPS calculation and the interest expense, net of tax, recorded in connection with the Convertible Notes is added back to the numerator.

LEASES

12 Months Ended

Mar. 31, 2020

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 fifteen 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:


	Twelve Months Ended March 31, 2020
Lease costs
Operating lease costs	$	29,383
Short term lease costs	$	2,771

Rent expense prior to our adoption of Topic 842 amounted to $29,204 and $25,301 for the fiscal years ended March 31, 2019 and 2018, respectively.


	Twelve Months Ended March 31, 2020
Supplemental operating cash flow information
Cash paid for amounts included in the measurement of lease liabilities	$	28,419
ROU assets obtained in exchange for lease obligations	$	58,745


	At March 31, 2020
Weighted average information
Remaining lease term	8.90 years
Discount rate	4.98	%

Future undiscounted lease payments for our operating lease liabilities, and a reconciliation of these payments to our operating lease liabilities at March 31, 2020, are as follows:


For the years ending March 31,
2021	$	31,897
2022	33,831
2023	31,500
2024	24,321
2025	18,867
Thereafter	80,162
Total future lease payments	$	220,578
Less imputed interest	(43,332)
Total lease liabilities	$	177,246

As of March 31, 2020, we have entered into facility leases that have not yet commenced with future lease payments of approximately $16,216. These leases are expected to commence within the next 12 months and will have lease terms ranging from 7 years to 10 years.

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

A summary of annual minimum contractual obligations and commitments as of March 31, 2020 is as follows:


Fiscal Year Ending March 31,	Software Development and Licensing		Marketing		Purchase Obligations		Total
2021	$	151,123	$	11,891	$	38,477	$	201,491
2022	144,975		38,881		23,910		207,766
2023	150,775		40,914		12,503		204,192
2024	122,285		89,260		1,239		212,784
2025	69,188		35,528		947		105,663
Thereafter	52,880		24,788		—		77,668
Total	$	691,226	$	241,262	$	77,076	$	1,009,564

Software Development and Licensing Agreements: We make payments to third-party software developers that include contractual payments to developers under several software development agreements that expire at various times through March 2025. Our aggregate outstanding software development commitments assume satisfactory performance by third-party software developers. We also have licensing commitments that primarily consist of obligations to holders of intellectual property rights for use of their trademarks, copyrights, technology or other intellectual property rights in the development of our products.

Marketing Agreements: We have certain minimum marketing support commitments where we commit to spend specified amounts related to marketing our products. Marketing commitments expire at various times through September 2025 and primarily reflect our agreements with major sports leagues and players' associations.

Purchase obligations: These obligations are primarily related to agreements to purchase services that are enforceable and legally binding on us that specifies all significant terms, including fixed, minimum or variable pricing provisions; and the approximate timing of the transactions, expiring at various times through March 2024.

Employee Savings Plans: For our United States employees we maintain a 401(k) retirement savings plan and trust. Our 401(k) plan is offered to all eligible employees and participants may make voluntary contributions. We also have various pension plans for our non-U.S. employees, some of which are required by local laws, and allow or require Company contributions. Employer contributions under all defined contribution and pension plans during the fiscal years ended March 31, 2020, 2019, and 2018 were $14,071, $10,881, and $9,592, respectively.

Legal and Other Proceedings: We are, or may become, subject to demands and claims (including intellectual property and employment related 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.

INCOME TAXES

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

Components of income before income taxes are as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
Domestic	$	322,297	$	134,265	$	136,239
Foreign	136,142		98,520		386
Income before income taxes	$	458,439	$	232,785	$	136,625

Provision for (benefit from) current and deferred income taxes consists of the following:


	Fiscal Year Ended March 31,
	2020		2019		2018
Current:
U.S. federal	$	26,561	$	8,240	$	(7,327)
U.S. state and local	3,575		2,857		(1,266)
Foreign	10,061		22,274		4,208
Total current income taxes	40,197		33,371		(4,385)
Deferred:
U.S. federal	45,079		(128,317)		(13,530)
U.S. state and local	1,317		(9,157)		195
Foreign	(32,613)		3,051		(19,188)
Total deferred income taxes	13,783		(134,423)		(32,523)
Provision for (benefit from) income taxes	$	53,980	$	(101,052)	$	(36,908)

A reconciliation of our effective tax rate to the U.S. statutory federal income tax rate is as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
U.S. federal statutory rate	21.0	%	21.0	%	31.6	%
State and local taxes, net of U.S. federal benefit	2.1	%	2.9	%	0.5	%
Foreign tax rate differential⁽¹⁾	1.0	%	(9.0)	%	(6.9)	%
Foreign earnings⁽²⁾	(9.3)	%	5.1	%	1.2	%
Tax credits⁽³⁾	(8.3)	%	(15.0)	%	(16.5)	%
Excess tax benefits from stock-based compensation	(1.8)	%	(5.7)	%	(38.9)	%
One-time transition tax	—	%	(2.0)	%	19.5	%
Domestic production deduction	—	%	—	%	(2.8)	%
Valuation allowance—domestic	0.2	%	(46.0)	%	(0.5)	%
Valuation allowance—foreign⁽²⁾	7.3	%	—	%	(2.5)	%
Change in reserves	(2.0)	%	1.3	%	(11.0)	%
Other	1.6	%	4.0	%	(0.7)	%
Effective tax rate	11.8	%	(43.4)	%	(27.0)	%

(1) The foreign rate differentials in relation to foreign earnings, for all periods presented, are primarily driven by changes in the mix of our foreign earnings and the difference between the foreign and U.S. income tax rates. Includes the impact of the reversal of a net deferred tax asset of $19,826 related to the effects of stock-based compensation from our intercompany cost-sharing arrangements due to an appeals court decision issued in Altera Corp. v. Commissioner for the fiscal year ended March 31, 2020.

(2) Includes effects of a deferred tax asset and valuation allowance associated with a tax basis step up received in Switzerland related to the Federal Act on Tax Reform and AVH Financing ("TRAF") enacted on January 1, 2020.

(3) Tax benefits were recorded for fiscal years ended March 31, 2020, 2019, and 2018 attributable to certain tax credits related to software development activities.

The effects of temporary differences that gave rise to our deferred tax assets and liabilities were as follows:


	March 31,
	2020		2019
Deferred tax assets:
Accrued compensation expense	$	124,276	$	113,517
Equity-based compensation	66,253		82,720
Tax credit carryforward	45,746		72,408
Tax basis step up related to TRAF	45,266		—
Operating lease liabilities	39,512		—
Net operating loss carryforward	5,555		27,498
Business reorganization	1,874		158
Deferred rent	—		5,965
Other	7,785		411
Total deferred tax assets	336,267		302,677
Less: Valuation allowance	(86,937)		(49,413)
Net deferred tax assets	249,330		253,264
Deferred tax liabilities:
Capitalized software and depreciation	(74,006)		(101,168)
Right of use assets	(36,947)		—
Intangible amortization	(18,206)		(22,486)
Deferred revenue	(5,038)		(17,100)
Other	(3,587)		(4,690)
Total deferred tax liabilities	(137,784)		(145,444)
Net deferred tax asset / (liability) ⁽¹⁾	111,546		107,820

(1) As of March 31, 2020, $116,676 is included in Deferred tax assets and $5,130 is included in Other long-term liabilities. As of March 31, 2019, $134,732 is included in Deferred tax assets and $26,912 is included in Other long-term liabilities.

The valuation allowance is primarily attributable to deferred tax assets for which no benefit is provided due to uncertainty with respect to their realization.

At March 31, 2020, we had domestic net operating loss carryforwards totaling $39,506 of which $24,019 will expire in 2022 to 2027, $13,195 will expire from 2029 to 2032, and $2,292 will expire in 2038 to 2040. In addition, we had foreign net operating loss carryforwards of $12,351, of which $3,606 will expire from 2021 and the remainder may be carried forward indefinitely.

At March 31, 2020, we had domestic tax credit carryforwards totaling $160,793, of which $60,248 expire in 2038 to 2040, and the remainder may be carried forward indefinitely.

The total amount of undistributed earnings of foreign subsidiaries was approximately $562,269 at March 31, 2020 and $410,095 at March 31, 2019. As of March 31, 2020, it is our intention to reinvest indefinitely undistributed earnings of our foreign subsidiaries. Accordingly, no provision has been made for foreign withholding taxes or U.S. income taxes which may become payable if undistributed earnings of foreign subsidiaries are repatriated. It is not practicable to estimate the tax liability that would arise if these earnings were remitted.

We are regularly audited by domestic and foreign taxing authorities. Audits may result in tax assessments in excess of amounts claimed and the payment of additional taxes. We believe that our tax return positions comply with applicable tax law and that we have adequately provided for reasonably foreseeable assessments of additional taxes. Additionally, we believe that any assessments in excess of the amounts provided for will not have a material adverse effect on the Consolidated Financial Statements. 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.

We recognize interest and penalties related to uncertain tax positions in the provision for income taxes in our Consolidated Statements of Operations. For the fiscal years ended March 31, 2020, 2019 and 2018, we recognized an increase of $71, $232 and $2,363, respectively. The gross amount of interest and penalties accrued as of March 31, 2020 and 2019 was $6,757 and $6,686, respectively.

As of March 31, 2020, we had gross unrecognized tax benefits, including interest and penalties, of $134,269, of which $30,658 would affect our effective tax rate if realized. For the fiscal year ended March 31, 2020, gross unrecognized tax benefits decreased by $4,737.

We are no longer subject to audit for U.S. federal income tax returns for periods prior to our fiscal year ended March 31, 2017 and state income tax returns for periods prior to the fiscal year ended March 31, 2016. With few exceptions, we are no longer subject to income tax examinations in non-U.S. jurisdictions for years prior to fiscal year ended March 31, 2014. Certain U.S. state and foreign taxing authorities are currently examining our income tax returns for the fiscal years ended March 31, 2015 through March 31, 2018.

The timing of the resolution of income tax examinations is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued for each year. Although potential resolution of uncertain tax positions involve multiple tax periods and jurisdictions, it is reasonably possible that a reduction of $24,983 of unrecognized tax benefits may occur within the next 12 months, some of which, depending on the nature of the settlement or expiration of statutes of limitations, may affect our income tax provision and therefore benefit the resulting effective tax rate. The actual amount could vary significantly depending on the ultimate timing and nature of any settlements.

The aggregate changes to the liability for gross uncertain tax positions, excluding interest and penalties, were as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
Balance, beginning of period	$	132,320	$	122,056	$	116,085
Additions:
Current year tax positions	8,596		13,281		23,007
Prior year tax positions	1,404		288		7,406
Reduction of prior year tax positions	(14,270)		(1,700)		(436)
Lapse of statute of limitations	(538)		(1,605)		(24,006)

Balance, end of period	$	127,512	$	132,320	$	122,056

We believe that we have provided for any reasonably foreseeable outcomes related to our tax audits and that any settlement will not have a material adverse effect on our consolidated financial statements. However, there can be no assurances as to the possible outcomes.

STOCK-BASED COMPENSATION

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

Stock Incentive Plan

In September 2017, our stockholders approved our 2017 Stock Incentive Plan (the "2017 Plan"). The aggregate number of shares issuable under the 2017 Plan is 7,596, subject to adjustment as set forth in the 2017 Plan, and, as of March 31, 2020, there were approximately 5,065 shares available for issuance. The 2017 Plan is administered by the Compensation Committee of the Board of Directors and allows for awards of restricted stock units and other stock-based awards of our common stock to employees and non-employees, including to ZelnickMedia in connection with their contract to provide executive management service to us. Subject to the provisions of the plans, the Board of Directors or any Committee appointed by the Board of Directors, has the authority to determine the individuals to whom the equity awards are to be granted, the number of shares to be covered by each equity award, the vesting period, restrictions, if any, on the equity award and the terms and conditions of the equity award. Upon the vesting of certain stock-based awards, employees have the option to have us withhold shares to satisfy the employee's federal and state tax withholding requirements.

Stock-Based Compensation Expense

The following table summarizes stock-based compensation expense included in our Consolidated Statements of Operations:


	Fiscal Year Ended March 31,
	2020		2019		2018
Cost of goods sold	$	154,031	$	149,075	$	24,610
Selling and marketing	18,680		23,685		13,258
General and administrative	53,607		51,903		58,037
Research and development	31,563		23,037		18,020
Business reorganization	—		—		2,424
Stock-based compensation expense before income taxes	$	257,881	$	247,700	$	116,349
Income tax benefit	$	(48,687)	$	(48,383)	$	(3,561)
Stock-based compensation expense, net of income tax benefit	$	209,194	$	199,317	$	112,788
Capitalized stock-based compensation expense	$	24,451	$	75,725	$	90,914

During the fiscal year ended March 31, 2020, the forfeiture of awards resulted in the reversal of expense of $425 and amounts capitalized as software development costs of $2,607. During the fiscal year ended March 31, 2019, the forfeiture of awards resulted in the reversal of expense of $5,784 and amounts capitalized as software development costs of $17,504. During the fiscal year ended March 31, 2018, the forfeiture of awards resulted in the reversal of expense of $17,609.

As of March 31, 2020, the total future unrecognized compensation cost related to outstanding unvested restricted stock was $250,271 and will be either recognized as compensation expense over a weighted-average period of approximately 2.1 years or capitalized as software development costs.

For the fiscal years ended March 31, 2020, 2019 and 2018, the weighted average fair values of restricted stock units that vested were $219,007, $264,162 and $268,570, respectively.

Restricted Stock Units

Employee Awards

Time-based restricted stock units granted to employees under our stock-based compensation plans generally vest either annually or quarterly over 3 years from the date of grant. Certain restricted stock units granted to key officers, senior-level employees, or key employees vest based on market conditions, primarily related to the performance of the price of our common stock. Certain restricted stock units granted to key officers, senior-level employees, or key employees vest based on performance conditions, primarily related to performance metrics around certain of our titles.

ZelnickMedia Non-Employee Awards

In connection with the 2014 Management Agreement and the 2017 Management Agreement, we granted restricted stock units to ZelnickMedia (see Note 3 - Management Agreement) as follows:


	Fiscal Year Ended March 31,
	2020	2019
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 year 2020 will vest on April 13, 2021, provided that the 2017 Management Agreement has not been terminated prior to such vesting date, and those granted in fiscal 2019 vested on April 13, 2020.

Market-based restricted stock units granted in fiscal year 2020 are eligible to vest on April 13, 2021, provided that the 2017 Management Agreement has not been terminated prior to such vesting date, and those granted in fiscal 2019 vested on April 13, 2020. Market-based restricted stock units are eligible to vest based on our 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 least at the 75th percentile.

Performance-based restricted stock units granted in fiscal year 2020 are eligible to vest on April 13, 2021, provided that the 2017 Management Agreement has not been terminated prior to such vesting date, and those granted in fiscal 2019 vested on April 13, 2020. 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. Certain performance metrics have been achieved as of March 31, 2020 for the "IP" and "RCS" performance-based restricted stock units granted in fiscal year 2019 and year fiscal 2020.

The unvested portion of time-based, market-based and performance-based restricted stock units held by ZelnickMedia as of March 31, 2020 and 2019 were 613 and 526, respectively. During the fiscal year ended March 31, 2020, 209 restricted stock units previously granted to ZelnickMedia vested and 20 restricted stock units were forfeited by ZelnickMedia.

Fair Value of Stock-Based Awards

Time-Based Awards

The estimated value, based on the closing price of our stock on the grant date, of time-based restricted stock units granted to employees during the fiscal years ended March 31, 2020, 2019 and 2018 was $115.01, $103.79 and $106.28 per share, respectively.

For the fiscal years ended March 31, 2020, 2019 and 2018, the estimated value, based on the closing price of our stock on the grant date, of time-based restricted stock awards granted to ZelnickMedia was $92.65, $97.19 and $78.53 per share, respectively.

The following table summarizes the activity in non-vested restricted stock units to employees and ZelnickMedia under our stock-based compensation plans with time-based restricted stock awards presented at 100% of target number of shares that may potentially vest:


	Shares (in thousands)	Weighted Average Fair Value on Grant Date
Non-vested restricted stock units at March 31, 2019	2,603	$	95.35
Granted	668	$	113.18
Vested	(1,243)	$	94.86
Forfeited	(68)	$	106.08
Non-vested restricted stock units at March 31, 2020	1,960	$	99.54

Market-Based Awards

The following table summarizes the weighted-average assumptions used in the Monte Carlo Simulation to estimate the fair value of market-based awards:


	Fiscal Year Ended March 31,
	2020						2019						2018
	Employee Market-Based		Non-Employee Market-Based		Employee Market-Based		Non-Employee Market-Based		Employee Market-Based		Non-Employee Market-Based
Risk-free interest rate	1.8	%	2.4	%	2.6	%	2.4	%	1.4	%	2.1	%
Expected stock price volatility	39.4	%	39.9	%	34.9	%	31.4	%	28.4	%	35.5	%
Expected service period (years)	1.5		1.0		1.5		1.0		1.5		1.0
Dividends	None		None		None		None		None		None

The estimated value of market-based restricted stock awards granted to employees during the fiscal years ended March 31, 2020, 2019, and 2018 was $201.07, $150.91, and $141.78 per share, respectively. For the fiscal years ended March 31, 2020, 2019, and 2018, the estimated value of the market-based restricted stock awards granted to ZelnickMedia was $132.50, $119.21, and $185.66 per share, respectively.

The following table summarizes the activity in non-vested restricted stock units to employees and ZelnickMedia under our stock-based compensation plans with market-based restricted stock awards presented at 100% of target number of shares that may potentially vest:


	Shares (in thousands)	Weighted Average Fair Value on Grant Date
Non-vested restricted stock units at March 31, 2019	466	$	123.72
Granted	403	$	170.18
Vested	(489)	$	125.63
Forfeited	(22)	$	138.10
Non-vested restricted stock units at March 31, 2020	358	$	157.05

Performance-Based Awards

The estimated value of performance-based restricted stock awards granted to employees during the fiscal year ended March 31, 2020, 2019, and 2018, was $124.50, $100.29, and $102.57 respectively. For the fiscal years ended March 31, 2020, 2019, and 2018, the estimated value of the performance-based restricted stock awards granted to ZelnickMedia was $92.65, $97.19, and $97.78 per share, respectively.

The following table summarizes the activity in non-vested restricted stock units to employees and ZelnickMedia under our stock-based compensation plans with performance restricted stock awards presented at 100% of target number of shares that may potentially vest:


	Shares (in thousands)	Weighted Average Fair Value on Grant Date
Non-vested restricted stock units at March 31, 2019	3,000	$	99.37
Granted	500	$	125.66
Vested	(233)	$	109.64
Forfeited	(28)	$	101.49
Non-vested restricted stock units at March 31, 2020	3,239	$	119.97

Employee Stock Purchase Plans

In September 2017, our stockholders approved our 2017 Global Employee Stock Purchase Plan as amended and restated ("ESPP"). The maximum aggregate number of shares of common stock that may be issued under the plan is 9,000, and as of March 31, 2020, there were approximately 8,817 shares available for issuance. The ESPP is administered by the Compensation Committee of the Board of Directors and allows for eligible employees an option to purchase shares of our common stock, which the employee may or may not exercise during an offering period. Eligible employees may authorize payroll deductions of between 1% and 10% of their compensation to purchase shares of common stock at 85% of the lower of

the market price of our common stock on the date of commencement of the applicable offering period or on the last day of each six-month purchase period.

The fair value is determined using the Black-Scholes valuation model. Key assumptions of the Black-Scholes valuation model are the risk-free interest rate, expected volatility, expected term and expected dividends. The risk-free interest rate is based on U.S. Treasury yields in effect at the time of grant for the expected term of the option. Expected volatility is based on a combination of historical stock price volatility and implied volatility of publicly-traded options on our common stock. Expected term is determined based on historical exercise behavior, post-vesting termination patterns, options outstanding and future expected exercise behavior. The following table summarizes the assumptions used in the Black-Scholes valuation model to value our purchase rights:


	Fiscal Year Ended March 31,	Fiscal Year Ended March 31,
	2020	2019
Risk-free interest rate	1.6% - 2.4%	2.1% - 2.5%
Expected stock price volatility	28.1% - 45.6%	39.1% - 40.0%
Expected service period (years)	0.5	0.5
Dividends	None	None

For the fiscal year ended March 31, 2020, our employees purchased 126 shares for $10,515 with a weighted-average fair value of $83.25. For the fiscal year ended March 31, 2019, our employees purchased 57 shares for $5,069 with a weighted-average fair value of $88.66.

SHARE REPURCHASE PROGRAM	12 Months Ended
SHARE REPURCHASE PROGRAM	Mar. 31, 2020
Equity [Abstract]
SHARE REPURCHASE PROGRAM	SHARE REPURCHASE PROGRAM Our Board of Directors has authorized the repurchase of up to 14,218 shares of our common stock. Under this program, we may purchase shares from time to time through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities laws. Repurchases are subject to the availability of stock, prevailing market conditions, the trading price of the stock, our financial performance and other conditions. The program does not require us to repurchase shares and may be suspended or discontinued at any time for any reason. During the fiscal years ended March 31, 2020, 2019, and 2018 we repurchased 0, 3,716, and 1,513 shares of our common stock in the open market, respectively, for $0, $362,429, and $154,808, respectively, including commissions of $0, $37 and $16, respectively as part of the program. As of March 31, 2020, we had repurchased a total of 10,400 shares of our common stock under the program, and 3,818 shares of our common stock remained available for repurchase under the share repurchase program. All of the repurchased shares are classified as Treasury stock in our Consolidated Balance Sheets.

INTEREST AND OTHER, NET

12 Months Ended

Mar. 31, 2020

Other Income and Expenses [Abstract]

INTEREST AND OTHER, NET


	Fiscal Year Ended March 31,
	2020		2019		2018
Interest income	$	47,341	$	38,019	$	21,264
Interest expense	(2,637)		(8,032)		(22,269)
Foreign currency exchange loss	(3,589)		(505)		(3,038)
Other	(2,610)		(3,369)		5,091
Interest and other, net	$	38,505	$	26,113	$	1,048

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Mar. 31, 2020

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

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

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


	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 (loss) income before reclassifications	(28,803)		—		763		2,440		(25,600)
Amounts reclassified from accumulated other comprehensive (loss) income	—		—		3,726		—		3,726
Tax effect on cross-currency swap	—		—		417		—		417
Balance at March 31, 2019	$	(33,090)	$	600	$	(5,285)	$	586	$	(37,189)
Other comprehensive (loss) income before reclassifications	(27,445)		—		10,504		(3,332)		(20,273)
Amounts reclassified from accumulated other comprehensive (loss) income	—		—		(1,689)		—		(1,689)
Tax effect on cross-currency swap	—		—		775		—		775
Balance at March 31, 2020	$	(60,535)	$	600	$	4,305	$	(2,746)	$	(58,376)

BUSINESS REORGANIZATION	12 Months Ended
BUSINESS REORGANIZATION	Mar. 31, 2020
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 the fourth quarter of fiscal 2018, we announced and initiated a second phase of the 2018 plan. In connection with both phases of this initiative, we incurred business reorganization expenses of $83, $972, and $14,742 during the fiscal year ended March 31, 2020, 2019 and 2018, respectively, due primarily to employee separation costs. Through March 31, 2020, we had paid $9,502 related to these reorganization activities. As of March 31, 2020, $3,862 remained accrued for in Accrued expenses and other current liabilities and $2,493 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 in connection with the 2018 Plan. In fiscal 2016, we announced and initiated actions to implement a strategic reorganization at one of our labels (the "2016 Plan"), including reorganizing one development studio and closing two development studios. During fiscal 2016, we incurred business reorganization expenses of $71,285 due primarily to employee separation costs in connection with this initiative and did not incur expenses in fiscal 2017 or 2018. During fiscal 2019, we recognized a benefit of $5,930 as a result of updating our estimate of costs to complete the plan. Through March 31, 2019, we had paid $65,355 related to these reorganization activities. As of March 31, 2019, the 2016 Plan was completed and no further amounts remain accrued or were expected to be incurred.

SUPPLEMENTARY FINANCIAL INFORMATION

12 Months Ended

Mar. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

SUPPLEMENTARY FINANCIAL INFORMATION

The following table provides details of our valuation and qualifying accounts:


	Beginning Balance		Additions		Deductions		Other		Ending Balance
Fiscal Year Ended March 31, 2020
Valuation allowance for deferred income taxes	$	49,413	44,703		(7,179)		—		$	86,937
Allowance for doubtful accounts	995		—		(547)		(5)		443
Fiscal Year Ended March 31, 2019
Valuation allowance for deferred income taxes⁽¹⁾	$	195,640	11,850		(107,133)		(50,944)		$	49,413
Allowance for doubtful accounts	1,247		651		—		(903)		995
Fiscal Year Ended March 31, 2018
Valuation allowance for deferred income taxes	$	184,085	11,555		—		—		$	195,640
Price protection, sales returns and other allowances⁽²⁾	$	65,114	59,674		(74,936)		3,191		$	53,043
Allowance for doubtful accounts	1,369		—		(122)		—		1,247
Total accounts receivable allowances	$	66,483	$	59,674	$	(75,058)	$	3,191	$	54,290

(1) Amount categorized as Other represents a reduction to the valuation allowance included in the cumulative effect of initially applying the New Revenue Accounting Standard as an adjustment to the opening balance of Retained earnings, due to revenues that were previously deferred being accelerated to Retained earnings, for which a timing difference exists for accounting and tax purposes.

(2) Under the New Revenue Accounting Standard, Price protection, sales returns and other allowances are considered refund liabilities and are reported within Accrued expenses and other current liabilities on our Consolidated Balance Sheet and are no longer considered accounts receivable allowance as they were under ASC 605.

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Mar. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following tables set forth quarterly supplementary data for each of the years in the two-year period ended March 31, 2020:


	Quarter
Fiscal Year Ended March 31, 2020	First		Second		Third		Fourth
Net revenue	$	540,459	$	857,841	$	930,129	$	760,541
Gross profit	298,990		389,593		493,036		364,901
Income from operations	51,730		74,820		176,833		121,884
Net income	$	46,280	$	71,815	$	163,642	$	122,722
Earnings per share:
Basic earnings per share	$	0.41	$	0.63	$	1.44	$	1.08
Diluted earnings per share	$	0.41	$	0.63	$	1.43	$	1.07


	Quarter
Fiscal Year Ended March 31, 2019	First		Second		Third		Fourth
Net revenue	$	387,982	$	492,667	$	1,248,738	$	539,007
Gross profit	256,617		257,787		350,254		280,092
Income from operations	70,846		25,986		51,779		58,061
Net income	$	71,693	$	25,367	$	179,948	$	56,829
Earnings per share:
Basic earnings per share	$	0.63	$	0.22	$	1.59	$	0.50
Diluted earnings per share	$	0.62	$	0.22	$	1.57	$	0.50

Basic and diluted earnings per share are computed independently for each of the quarters presented. Therefore, the sum of quarterly basic and diluted earnings per share information may not equal annual basic and diluted earnings per share.

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Consolidated Financial Statements include the financial statements of the Company and its wholly-owned subsidiaries. All inter-company balances and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain immaterial amounts in the financial statements of the prior years have been reclassified to conform to the current year presentation for comparative purposes.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, net revenue, and expense, as well as the disclosure of contingent assets and liabilities at the dates of the financial statements during the reporting periods. Our most significant estimates relate to revenue recognition (see Note 2 - Revenue from Contracts with Customers); the recoverability and amortization of software development costs, licenses, and intangible assets; the realization of deferred income taxes; the valuation of stock-based compensation; and assumptions used in our goodwill impairment tests. These estimates generally involve complex issues and require us to make judgments, involve analysis of historical and the prediction of future trends, and are subject to change from period to period. Actual amounts could differ significantly from these estimates, including as a result of the COVID-19 pandemic, which may affect economic conditions in a number of different ways and result in uncertainty and risk. We consider transactions or events that occur after the balance sheet date, but before the financial statements are issued, to provide additional evidence relative to certain estimates or to identify matters that require additional disclosures.
Segments	Segments We have one operating and reportable segment. Our operations involve similar products and customers worldwide. Revenue earned is primarily derived from the sale of software titles, which are internally developed and developed by third parties. Our Chief Executive Officer, who is our Chief Operating Decision Maker ("CODM"), manages our operations on a consolidated basis--supplemented by sales information by product category, major product title, and platform--for the purpose of evaluating performance and allocating resources.
Concentration of Credit Risk and Accounts Receivable	Concentration of Credit Risk and Accounts Receivable We maintain cash balances at several major financial institutions. While we attempt to limit credit exposure with any single institution, balances often exceed insurable amounts. If the financial condition and operations of our customers deteriorate, our risk of collection could increase substantially. A majority of our trade receivables are derived from sales to major retailers, including digital storefronts and platform partners, and distributors.
Cash and Cash Equivalents	Cash and Cash Equivalents We consider all highly liquid instruments purchased with original maturities of three months or less to be cash equivalents. Our restricted cash and cash equivalents balances are primarily related to a dedicated account limited to the payment of certain internal royalty obligations. Balances that are restricted from use for more than one year are classified as non-current.
Short-term Investments	Short-term Investments Short-term investments designated as available-for-sale securities are carried at fair value, which is based on quoted market prices for such securities, if available, or is estimated on the basis of quoted market prices of financial instruments with similar characteristics. Investments with original maturities greater than 90 days and remaining maturities of less than one year are normally classified within Short-term investments on our Consolidated Balance Sheets. In addition, investments with maturities beyond one year at the time of purchase that are highly liquid in nature and represent the investment of cash that is available for current operations are classified as short-term investments. Unrealized gains and losses of available-for-sale securities are excluded from earnings and are reported as a component of Other comprehensive income (loss), net of tax, until the security is sold, the security has matured, or we determine that the fair value of the security has declined below its adjusted cost basis and the decline is other-than-temporary. Realized gains and losses on short-term investments are calculated based on the specific identification method and would be reclassified from accumulated other comprehensive loss to Interest and other, net. Short-term investments are evaluated for impairment quarterly. We consider various factors in determining whether we should recognize an impairment charge, including the credit quality of the issuer, the duration that the fair value has been less than the adjusted cost basis, the severity of the impairment, the reason for the decline in value, and our intent to sell and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. If we conclude that an investment is other-than-temporarily impaired, we recognize an impairment charge at that time in the Consolidated Statements of Operations. Determining whether the decline in fair value is other-than-temporary requires management judgment based on the specific facts and circumstances of each security. The ultimate value realized on these securities is subject to market price volatility until they are sold.
Inventory	Inventory Inventory consists of materials, including manufacturing royalties paid to console manufacturers, and is stated at the lower of weighted average cost or net realizable value. Estimated product returns are included in the inventory balance at their cost. We regularly review inventory quantities on-hand and in the retail channels and record an inventory provision for excess or obsolete inventory based on the future expected demand for our products. Significant changes in demand for our products would affect management's estimates in establishing our inventory provision. We write down inventory based on excess or obsolete inventories determined primarily by future anticipated demand for our products. Inventory write-downs are measured as the difference between the cost of the inventory and market value, based upon assumptions about future demand that are inherently difficult to assess.
Software Development Costs and Licenses	Software Development Costs and Licenses Capitalized software development costs include direct costs incurred for internally developed titles and payments made to third-party software developers under development agreements. We capitalize internal software development costs (including specifically identifiable payroll expense, employee stock-based compensation, and incentive compensation costs related to the completion and release of titles, as well as third-party production and other content costs), subsequent to establishing technological feasibility of a software title. Technological feasibility of a product includes the completion of both technical design documentation and game design documentation. Significant management judgments are made in the assessment of when technological feasibility is established. For products where proven technology exists, this may occur early in the development cycle. Technological feasibility is evaluated on a product-by-product basis. Prior to establishing technological feasibility of a product, we record any costs incurred by third-party developers as research and development expenses. We enter into agreements with third-party developers that require us to make payments for game development and production services. In exchange for our payments, we receive the exclusive publishing and distribution rights to the finished game title as well as, in some cases, the underlying intellectual property rights. Such agreements typically allow us to fully recover these payments to the developers at an agreed upon royalty rate earned on the subsequent sales of such software, net of any agreed upon costs. Subsequent to establishing technological feasibility of a product, we capitalize all development and production service payments to third-party developers as software development costs and licenses. We typically enter into agreements with third-party developers after completing the technical design documentation for our products and therefore record the design costs leading up to a signed development contract as research and development expense. When we contract with third-party developers, we generally select those that have proven technology and experience in the genre of the software being developed, which often allows for the establishment of technological feasibility early in the development cycle. In instances where the documentation of the design and technology are not in place prior to an executed contract, we monitor the software development process and require our third-party developers to adhere to the same technological feasibility standards that apply to our internally developed products. Licenses consist of payments and guarantees made to holders of intellectual property rights for use of their trademarks, copyrights or other intellectual property rights in the development of our products. Agreements with license holders generally provide for guaranteed minimum payments for use of their intellectual property. Certain licenses, especially those related to our sports products, extend over multi-year periods and encompass multiple game titles. In addition to guaranteed minimum payments, these licenses frequently contain provisions that could require us to pay royalties to the license holder based on pre-agreed unit sales thresholds. Amortization of capitalized software development costs and licenses commences when a product is available for general release and is recorded on a title-by-title basis in cost of goods sold. For capitalized software development costs, annual amortization is calculated using (1) the proportion of current year revenue to the total revenue expected to be recorded over the life of the title or (2) the straight-line method over the remaining estimated life of the title, whichever is greater. For capitalized licenses, amortization is calculated as a ratio of (1) current year revenue to the total revenue expected to be recorded over the remaining estimated life of the title or (2) the contractual royalty rate based on actual net product sales as defined in the licensing agreement, whichever is greater. Amortization periods for our software products generally range from 12 to 36 months. We evaluate the future recoverability of capitalized software development costs and licenses on a quarterly basis. Recoverability is primarily assessed based on the title's actual performance. For products that are scheduled to be released in the future, recoverability is evaluated based on the expected performance of the specific products to which the cost or license relates. We use a number of criteria in evaluating expected product performance, including historical performance of comparable products developed with comparable technology, market performance of comparable titles, orders for the product prior to its release, general market conditions, and past performance of the franchise. When we determine that capitalized cost of the title is unlikely to be recovered by product sales, an impairment of software development and license costs capitalized is charged to cost of goods sold in the period in which such determination is made. We have profit and unit sales based internal royalty programs that allow selected employees to participate in the success of software titles that they assist in developing. Royalties earned under this program are recorded as a component of Cost of goods sold in the period earned. Amounts earned and not yet paid are reflected within the software development royalties component of Accrued expenses and other current liabilities on our Consolidated Balance Sheets.
Fixed Assets, net	Fixed Assets, net Office equipment, furniture and fixtures are depreciated using the straight-line method over their estimated useful life of five years. Computer equipment and software are generally depreciated using the straight-line method over three to five years. Leasehold improvements are amortized over the lesser of the term of the related lease or the useful life of the underlying asset, typically seven years. The cost of additions and improvements are capitalized, and repairs and maintenance costs are charged to operations, in the periods incurred. When depreciable assets are retired or sold, the cost and related allowances for depreciation are removed from the accounts and the gain or loss, if any, is recognized. The carrying amounts of these assets are recorded at historical cost.
Leases	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 replaced all prior U.S. GAAP guidance on this topic as codified principally under Topic 840, Leases. 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. Refer to the Recently Adopted Accounting Pronouncements section below for the impact of adoption on our Consolidated Financial Statements. 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. 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. We do not separate non-lease components from the related lease components.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill is the excess of purchase price paid over identified intangible and tangible net assets of acquired companies. Intangible assets consist of intellectual property, developed game technology, analytics technology, user base, trade names, and in-process research and development. Certain intangible assets acquired in a business combination are recognized as assets apart from goodwill. We use either the income, cost or market approach to aid in our conclusions of such fair values and asset lives. The income approach presumes that the value of an asset can be estimated by the net economic benefit to be received over the life of the asset, discounted to present value. The cost approach presumes that an investor would pay no more for an asset than its replacement or reproduction cost. The market approach estimates value based on what other participants in the market have paid for reasonably similar assets. Although each valuation approach is considered in valuing the assets acquired, the approach, or combination of approaches, ultimately selected is based on the characteristics of the asset and the availability of information. We test our goodwill for impairment annually, or more frequently if events and circumstances indicate the fair value of a reporting unit may be below its carrying amount. A reporting unit is defined as an operating segment or one level below an operating segment. We have determined that we operate in two reporting units, which are components of our operating segment. In the evaluation of goodwill for impairment, we have the option to first perform a qualitative assessment to determine if the fair value of a reporting unit is more likely than not (i.e., a likelihood of more than 50%) less than the carrying value before performing a quantitative impairment test. When a qualitative assessment is not used, or if the qualitative assessment is not conclusive, a quantitative impairment analysis for goodwill is performed at the reporting unit level. The quantitative goodwill impairment test is used to identify potential impairment by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying value exceeds the fair value, an impairment charge is recognized equal to the difference between the carrying value of the reporting unit and its fair value, considering the related income tax effect of any goodwill deductible for tax purposes. In performing the quantitative assessment, we measure the fair value of the reporting unit using a combination of the income and market approaches. The assessment requires us to make judgments and involves the use of significant estimates and assumptions. These estimates and assumptions include long-term growth rates and operating margins used to calculate projected future cash flows, risk-adjusted discount rates based on our weighted average cost of capital, future economic and market conditions and the determination of appropriate, comparable market data. Our estimates for market growth are based on historical data, various internal estimates and observable external sources when available, and are based on assumptions that are consistent with the plans and estimates we use to manage the underlying business. During the fiscal year ended March 31, 2019, we changed the measurement date for performing our annual goodwill impairment test from the beginning of August to the beginning of March. This voluntary change in accounting principle, applied prospectively, was preferable as it aligns the annual goodwill impairment test date more closely with our internal budgeting process and did not delay, accelerate, or avoid an impairment of our goodwill.
Long-lived Assets	Long-lived Assets We review all long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amount of an asset or asset group may not be recoverable. We compare the carrying amount of the asset to the estimated undiscounted future cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, we record an impairment charge for the difference between the carrying amount of the asset and its fair value. The estimated fair value is generally measured by discounting expected future cash flows using our incremental borrowing rate or fair value, if available.
Derivatives and Hedging	Derivatives and Hedging We transact business in various foreign currencies and have significant sales and purchase transactions denominated in foreign currencies, subjecting us to foreign currency exchange rate risk. From time to time, we carry out transactions involving foreign currency exchange derivative financial instruments. The transactions are designed to hedge our exposure in currency exchange rate movements. We recognize derivative instruments as either assets or liabilities on our Consolidated Balance Sheets and we measure those instruments at fair value. The changes in fair value of derivatives that are not designated as hedges are recognized currently in earnings as interest and other, net in our Consolidated Statements of Operations. If a derivative meets the definition of a cash flow hedge and is so designated, the effective portion of changes in the fair value of the derivative are recognized, as a component of other comprehensive income (loss) while the ineffective portion of the changes in fair value is recorded currently in earnings as interest and other, net in our Consolidated Statements of Operations. Amounts included in Accumulated other comprehensive income (loss) for cash flow hedges are reclassified into earnings in the same period that the hedged item is recognized in Cost of goods sold, Research and development expenses, or Interest and other, net, as appropriate.
Income Taxes	Income Taxes We record a tax provision for the anticipated tax consequences of the reported results of operations. Our provision for income taxes is computed using the asset and liability method, under which deferred income taxes are recognized for differences between the financial statement and tax bases of assets and liabilities at currently enacted statutory tax rates for the years in which the differences are expected to reverse. The effect on deferred taxes of a change in tax rates is recognized in income in the period that includes the enactment. Valuation allowances are established when we determine that it is more likely than not that such deferred tax assets will not be realized. We do not record income tax expense related to foreign withholding taxes or United States income taxes that may become payable upon the repatriation of undistributed earnings of foreign subsidiaries, as such earnings are expected to be reinvested indefinitely outside of the United States. We use estimates and assumptions to compute the provision for income taxes including allocations of certain transactions to different tax jurisdictions, amounts of permanent and temporary differences, the likelihood of deferred tax assets being recovered and the outcome of contingent tax risks. These estimates and assumptions are revised as new events occur, more experience is acquired and additional information is obtained. The effect of these revisions is recorded in income tax expense or benefit in the period in which they become known. In December 2017, the U.S. enacted the Tax Cuts and Jobs Act (the "Tax Act"), which, among other provisions, subjects a U.S. shareholder to current tax on Global Intangible Low-Taxed Income ("GILTI") earned by foreign subsidiaries. We have elected to recognize the resulting tax on GILTI as an expense in the period incurred.
Revenue Recognition	Revenue Recognition In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606). Under the new standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration that the entity expects to receive in exchange for those goods or services. On April 1, 2018, we adopted the new accounting standard and related amendments (the “New Revenue Accounting Standard”) using the modified retrospective method. Refer to Note 1 to our Consolidated Financial Statements in our Annual Report on Form 10-K for the fiscal year ended March 31, 2018 for our revenue recognition accounting policy as it relates to revenue transactions prior to April 1, 2018. We derive revenue primarily from the sale of our interactive entertainment content, principally for console gaming systems and personal computers, including smartphones and tablets. Our interactive entertainment content consists of full game software products that may contain offline gameplay, online gameplay, or a combination of offline and online gameplay. We may also sell separate downloadable add-on content to supplement our full game software products. Certain of our software products provide customers with the option to acquire virtual currency or make in-game purchases. We determine revenue recognition by: •identifying the contract, or contracts, with the customer; •identifying the performance obligations in the contract; •determining the transaction price; •allocating the transaction price to performance obligations in the contract; and •recognizing revenue when, or as, we satisfy performance obligations by transferring the promised goods or services. We recognize revenue in the amount that reflects the consideration we expect to receive in exchange for the sales of software products and game related services when control of the promised products and services is transferred to our customers and our performance obligations under the contract have been satisfied. Revenue is recorded net of transaction taxes assessed by governmental authorities such as sales, value-added and other similar taxes. Our software products are sold as full games, which typically provide access to the main game content, primarily for console and PC. Generally, our full game software products deliver a license of our intellectual property that provides a functional offline gaming experience (i.e., one that does not require an Internet connection to access the main game content or other significant game related services). We recognize revenue related to the license of our intellectual property that provides offline functionality at the time control of the products have been transferred to our customers (i.e. upon delivery of the software product). In addition, some of our full game software products that provide a functional offline gaming experience may also include significant game related services delivered over time, such as online functionality that is dependent upon online support services and/or additional free content updates. For full game sales that offer offline functionality and significant game related services we evaluate whether the license of our intellectual property and the game related services are distinct and separable. This evaluation is performed for each software product sold. If we determine that our software products contain a license of intellectual property separate from the game related services (i.e. multiple performance obligations), we estimate a standalone selling price for each identified performance obligation. We allocate the transaction price to each performance obligation using a relative standalone selling price method (the transaction price is allocated to a performance obligation based on the proportion of the standalone selling price of each performance obligation to the sum of the standalone selling prices for all performance obligations in the contract). For the portion of the transaction price allocable to the license, revenue is recognized when the customer takes control of the product. For the portion of the transaction price allocated to game related services, revenue is recognized ratably over an estimated service period for the related software product. We also defer related product costs and recognize the costs as the revenues are recognized. Certain of our full game software products are delivered primarily as an online gaming experience with substantially all gameplay requiring online access to our game related services. We recognize revenue for full game software products that are dependent on our game related services over an estimated service period. For our full game online software products, we also defer related product costs and recognize the costs as the revenue is recognized. In addition to sales of our full game software products, certain of our software products provide customers with the option to acquire virtual currency or make in-game purchases. Revenue from the sale of virtual currency and in-game purchases is deferred and recognized ratably over an estimated service period. We also sell separate downloadable add-on content to supplement our full game software products. Revenue from the sale of separate downloadable add-on content is evaluated for revenue recognition on the same basis as our full game software products. Certain software products are sold to customers with a “street date” (the earliest date these products may be sold by these retailers). For the transaction price related to the license for these products that also provide a functional offline gaming experience, we recognize revenue on the later of the street date or the sale date as this is generally when we have transferred control of this performance obligation. For the sale of physical software products, recognition of revenue allocated to game related services does not begin until the product is sold-through by our customer to the end user. We currently estimate sell-through to the end user for all our titles to be approximately two months after we have sold-in the software products to retailers. Determining the estimated sell-through period requires management judgment and estimates. In addition, some of our software products are sold as digital downloads. Revenue from digital downloads generally commences when the download is made available to the end user by a third-party digital storefront. Our payment terms and conditions vary by customer and typically provide net 30 to 60 day terms. In instances where the timing of revenue recognition differs from the timing of invoicing, we do not adjust the promised amount of consideration for the effects of a significant financing component when we expect, at contract inception, that the period between our transfer of a promised product or service to our customer and payment for that product or service will be one year or less. In certain countries, we use third-party licensees to distribute and host our games in accordance with license agreements, for which the licensees typically pay us a fixed minimum guarantee and sales-based royalties. These arrangements typically include multiple performance obligations, such as an upfront license of intellectual property and rights to future updates. Based on the allocated transaction price, we recognize revenue associated with the minimum guarantee when we transfer control of the upfront license of intellectual property (generally upon commercial launch) and the remaining portion ratably over the contractual term in which we provide the licensee with future update rights. Royalty payments in excess of the minimum guarantee are generally recognized when the licensed product is sold by the licensee. Contract Balances We generally record a receivable related to revenue when we have an unconditional right to invoice and receive payment, and we record deferred revenue when cash payments are received or due in advance of satisfying our performance obligations, even if amounts are refundable. Contract assets generally consist of arrangements for which we have recognized revenue to the extent it is probable that significant reversal will not occur but do not have a right to invoice as of the reporting date. Contract assets are recorded within Prepaid expenses and other on our Consolidated Balance Sheet. Our allowance for doubtful accounts are typically immaterial and, if required, are based on our best estimate of probable losses inherent in our accounts receivable balance. Deferred revenue is comprised primarily of unsatisfied revenue related to the portion of the transaction price allocable to game related services of our full game software products and sales of virtual currency. These sales are typically invoiced at the beginning of the contract period, and revenue is recognized ratably over the estimated service period. Deferred revenue may also include amounts related to software products with future street dates. Refer to Note 2 - Revenue from Contracts with Customers for further information, including changes in deferred revenue during the period. Principal Agent Considerations We offer certain software products via third party digital storefronts, such as Microsoft’s Xbox Live, Sony’s PlayStation Network, Valve's Steam, Epic Games Store, Apple's App Store, and the Google Play Store. For sales of our software products via third party digital storefronts, we determine whether or not we are acting as the principal in the sale to the end user, which we consider in determining if revenue should be reported based on the gross transaction price to the end user or based on the transaction price net of fees retained by the third-party digital storefront. An entity is the principal if it controls a good or service before it is transferred to the customer. Key indicators that we use in evaluating these sales transactions include, but are not limited to, the following: •the underlying contract terms and conditions between the various parties to the transaction; •which party is primarily responsible for fulfilling the promise to provide the specified good or service; and •which party has discretion in establishing the price for the specified good or service. Based on our evaluation of the above indicators, for sales arrangements via Microsoft’s Xbox Live, Sony’s PlayStation Network, Valve's Steam, and Epic Games Store we have determined we are not the principal in the sales transaction to the end user and therefore we report revenue based on the consideration received from the digital storefront. For sales arrangements via Apple's App Store and the Google Play Store, we have determined that we are the principal to the end user and thus report revenue on a gross basis and mobile platform fees charged by these digital storefronts are expensed as incurred and reported within Cost of goods sold. Shipping and Handling Shipping and handling costs are incurred to move physical software products to customers. We recognize all shipping and handling costs as an expense in Cost of goods sold because we are responsible for delivery of the product to our customers prior to transfer of control to the customer. Estimated Service Period For certain performance obligations satisfied over time, we have determined that the estimated service period is the time period in which an average user plays our software products (“user life”) which most faithfully depicts the timing of satisfying our performance obligation. We consider a variety of data points when determining and subsequently reassessing the estimated service period for players of our software products. Primarily, we review the weighted average number of days between players’ first and last days played online. When a new game is launched and therefore no history of online player data is available, we consider other factors to determine the user life, such as the estimated service period of other games actively being sold with similar characteristics. We also consider known online trends, the service periods of our previously released software products, and, to the extent publicly available, the service periods of our competitors’ software products that are similar in nature to ours. We believe this provides a reasonable depiction of the transfer of our game related services to our customers, as it is the best representation of the period during which our customers play our software products. Determining the estimated service period is subjective and requires significant management judgment and estimates. Future usage patterns may differ from historical usage patterns, and therefore the estimated service period may change in the future. The estimated service periods for players of our current software products are generally between 6 and 15 months depending on the software product. Revenue Arrangements with Multiple Performance Obligations Our contracts with customers often include promises to transfer multiple products and services. Determining whether products and services are considered distinct performance obligations that should be accounted for separately versus together requires significant judgment. For software products in which the software license has offline functionality and benefits from meaningful game related services, which may include online functionality that is dependent on our online support services and/or additional free content updates, we believe we have separate performance obligations for the license of the intellectual property and the game related services. Additionally, because each of our product offerings has unique features and because we do not sell our game related services separately, we typically do not have observable standalone selling prices for each performance obligation. Significant judgment and estimates are also required to determine the standalone selling price for each distinct performance obligation and whether a discount needs to be allocated based on the relative standalone selling price of our products and services. To estimate the standalone selling price for each performance obligation, we consider, to the extent available, a variety of data points such as past selling prices of the product or other similar products, competitor pricing, and market data. If observable pricing is not available, we use an expected cost-plus margin approach taking into account relevant costs including product development, post-release support, marketing and licensing costs. This evaluation is performed on a product by product basis. Price Protection and Allowances for Returns We grant price protection and accept returns in connection with our distribution arrangements. Following reductions in the price of our physical software products, we grant price protection to permit customers to take credits against amounts they owe us with respect to merchandise unsold by them. Our customers must satisfy certain conditions to entitle them to receive price protection or return products, including compliance with applicable payment terms and confirmation of field inventory levels. At contract inception and at each subsequent reporting period, we make estimates of price protection and product returns related to current period software product revenue. We estimate the amount of price protection and returns for software products based upon, among other factors, historical experience and performance of the titles in similar genres, historical performance of the hardware platform, customer inventory levels, analysis of sell-through rates, sales force and retail customer feedback, industry pricing, market conditions, and changes in demand and acceptance of our products by consumers. Revenue is recognized after deducting the estimated price protection and allowances for returns, which are accounted for as variable consideration. Price protection and allowances for returns are considered refund liabilities and are reported within Accrued expenses and other current liabilities on our Consolidated Balance Sheet. Sales Incentives We enter into various sales incentive arrangements with our customers, such as rebates, discounts, and cooperative marketing. These incentives are considered adjustments to the transaction price of our software products and are reflected as reductions to revenue. Sales incentives incurred by us for distinct goods or services received, such as the appearance of our products in a customer’s national circular ad, are included in Selling and marketing expense if there is a separate identifiable benefit and the benefit’s fair value can be established. Otherwise, such sales incentives are reflected as a reduction to revenue and are considered refund liabilities, which are reported within Accrued expenses and other current liabilities in our Consolidated Balance Sheet. Significant Estimates Significant management judgment and estimates must be used in connection with many of the determinations described above, such as estimating the fair value allocation to distinct and separable performance obligations, the service period over which to defer recognition of revenue, the time it takes our physical products to sell-through to end users, and the amounts of price protection. We believe we can make reliable estimates. However, actual results may differ from initial estimates due to changes in circumstances, market conditions, and assumptions. Adjustments to estimates are recorded in the period in which they become known.
Advertising	Advertising We expense advertising costs as incurred, except for production costs associated with media advertising, which are deferred and charged to expense when the related advertisement is run for the first time.
Stock-based Compensation	Stock-based Compensation We have stock-based compensation plans that are broad-based long-term retention programs intended to attract and retain talented employees and align stockholder and employee interests, which allows for awards of restricted stock, restricted stock units and other stock-based awards of our common stock to employees and non-employees. Our plans include time-based, market-based, and performance-based awards of our common stock to employees and non-employees. We account for stock-based awards under the fair value method of accounting. The fair value of all stock-based compensation is either capitalized and amortized in accordance with our software development cost accounting policy or recognized as expense on a straight-line basis over the full vesting period of the awards for time-based stock awards and on an accelerated attribution method for market-based and performance-based stock awards. We estimate the fair value of time-based awards using our closing stock price on the date of grant. We estimate the fair value of market-based awards using a Monte Carlo Simulation method, which takes into account assumptions such as the expected volatility of our common stock, the risk-free interest rate based on the contractual term of the award, expected dividend yield, vesting schedule and the probability that the market conditions of the awards will be achieved. For performance-based shares, we do not record expense until the performance criteria are considered probable. Stock-based compensation expense is recorded net of forfeitures as they occur.
Earnings (loss) per Share (EPS)	Earnings (loss) per Share ("EPS") Basic EPS is computed by dividing the net income (loss) applicable to common stockholders for the period by the weighted average number of shares of common stock outstanding during the same period. Diluted EPS is computed by dividing the net income (loss) applicable to common stockholders for the period by the weighted average number of shares of common stock and common stock equivalents outstanding. Certain of our unvested stock-based 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 require the two-class method of computing EPS. The calculation of EPS for common stock under the two-class method excludes the income attributable to the participating securities from the numerator and excludes the dilutive effect of those awards from the denominator. We define common stock equivalents as unvested stock-based awards and common stock underlying our Convertible Notes (see Note 12 - Debt) outstanding during the period. Common stock equivalents are measured using the treasury stock method, and common stock equivalents underlying the Convertible Notes are assessed for their effect on diluted EPS using the more dilutive of the treasury stock method or the if-converted method. Under the provisions of the if-converted method, the Convertible Notes are assumed to be converted and included in the denominator of the EPS calculation and the interest expense, net of tax, recorded in connection with the Convertible Notes is added back to the numerator. However, potential common shares are not included in the denominator of the diluted earnings (loss) per share calculation when inclusion of such shares would be anti-dilutive, such as in a period in which a net loss is recorded.
Foreign Currency	Foreign Currency The functional currency for our foreign operations is primarily the applicable local currency. Accounts of foreign operations are translated into U.S. dollars using exchange rates for assets and liabilities at the balance sheet date and average prevailing exchange rates for the period for revenue and expense accounts. Adjustments resulting from translation are included in accumulated other comprehensive income (loss). Realized and unrealized transaction gains and losses are included in our Consolidated Statements of Operations in the period in which they occur.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) is defined to include all changes in equity except those resulting from investments by owners and distributions to owners. Accumulated other comprehensive income (loss) includes foreign currency translation adjustments, which relate to investments that are permanent in nature and therefore do not require tax adjustments, and the amounts for unrealized gains (losses), net on derivative instruments designated as cash flow hedges, as well as any associated tax impact, and available for sale securities.
Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Accounting for Leases As noted in our Lease accounting policy above, we adopted the New Lease Accounting Standard Accounting Standards Update (ASU) 2016-02, Leases (Topic 842) effective April 1, 2019. 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, our assessment of whether a contract is or contains a lease and our 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. Recently Issued Accounting Pronouncements Accounting for Reference Rate Reform In March 2020, the FASB issued ASU 2020-01, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which provides temporary optional guidance to ease potential accounting impacts associated with transitioning away from reference rates that are expected to be discontinued, such as interbank offered rates and LIBOR. The guidance includes practical expedients for contract modifications due to reference rate reform. Generally, contract modifications related to reference rate reform may be considered an event that does not require remeasurement or reassessment of a previous accounting determination at the modification date. This guidance is effective immediately and is only available through December 31, 2022. We are currently evaluating the potential impact of adopting this guidance on our Consolidated Financial Statements. Accounting for Income Taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning December 15, 2020 (April 1, 2021 for the Company), with early adoption permitted. We are currently evaluating the potential impact of adopting this guidance on our Consolidated Financial Statements. 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. Accounting for Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which replaces the incurred loss impairment methodology in current U.S. GAAP with a methodology that will require the reflection of expected credit losses and will also require consideration of a broader range of reasonable and supportable information to determine credit loss estimates. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. For most financial instruments, the standard will require the use of a forward-looking expected loss model rather than the incurred loss model for recognizing credit losses, which will generally result in the earlier recognition of credit losses on financial instruments. ASU 2016-13 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. These changes will be applied on a modified retrospective basis, with the cumulative effect of adoption recorded as an adjustment to retained earnings. We are continuing to monitor the economic implications of the COVID-19 pandemic, but we do not expect that the impact of adopting this guidance will be material to our Consolidated Financial Statements.

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Mar. 31, 2020

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 assets, 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)

12 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Net revenue by product platform

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


	Twelve Months Ended March 31,
	2020		2019
Net revenue recognized:
Service and other	$	1,839,696	$	1,319,033
Product	1,249,274		1,349,361
Total net revenue	$	3,088,970	$	2,668,394

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


	Twelve Months Ended March 31,
	2020		2019
Net revenue recognized:
Full game and other	$	1,703,971	$	1,597,478
Recurrent consumer spending	1,384,999		1,070,916
Total net revenue	$	3,088,970	$	2,668,394

Net revenue by platform was as follows:


	Twelve Months Ended March 31,
	2020		2019		2018⁽¹⁾
Net revenue recognized:
Console	$	2,308,602	$	2,233,861	$	1,463,306
PC and other	780,368		434,533		329,586
Total net revenue	$	3,088,970	$	2,668,394	$	1,792,892

Net revenue by distribution channel was as follows:


	Twelve Months Ended March 31,
	2020		2019		2018⁽¹⁾
Net revenue recognized:
Digital online	$	2,378,563	$	1,681,609	$	1,130,946
Physical retail and other	710,407		986,785		661,946
Total net revenue	$	3,088,970	$	2,668,394	$	1,792,892

Net revenue by geographic region

Net revenue by geographic region was as follows:


	Twelve Months Ended March 31,
	2020		2019		2018⁽¹⁾
Net revenue recognized:
United States	$	1,775,682	$	1,426,906	$	1,052,313
International	1,313,288		1,241,488		740,579
Total net revenue	$	3,088,970	$	2,668,394	$	1,792,892

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

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


	March 31, 2020		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	$	497,861	$	497,861	$	—	$	—	Cash and cash equivalents
Bank-time deposits	313,757		313,757		—		—		Cash and cash equivalents
Commercial paper	97,544		—		97,544		—		Cash and cash equivalents
Corporate bonds	9,888		—		9,888		—		Cash and cash equivalents
Money market funds	546,604		546,604		—		—		Restricted cash and cash equivalents
Corporate bonds	334,631		—		334,631		—		Short-term investments
Bank-time deposits	191,000		191,000		—		—		Short-term investments
US Treasuries	30,819		30,819		—		—		Short-term investments
Commercial paper	87,553		—		87,553		—		Short-term investments
Cross-currency swap	11,275		—		11,275		—		Prepaid expenses and other
Money market funds	89,124		89,124		—		—		Long-term restricted cash and cash equivalents
Private equity	2,759		—		—		2,759		Other assets
Foreign currency forward contracts	(11)		—		(11)		—		Accrued expenses and other current liabilities
Total recurring fair value measurements, net	$	2,212,804	$	1,669,165	$	540,880	$	2,759


	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
US Treasuries	55,634		55,634		—		—		Short-term investments
Commercial paper	4,990		—		4,990		—		Short-term investments
Corporate bonds	296,141		—		296,141		—		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 expenses and other current liabilities
Total recurring fair value measurements, net	$	1,766,768	$	1,424,200	$	340,745	$	1,823

SHORT-TERM INVESTMENTS (Tables)

12 Months Ended

Mar. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of short-term investments

Our short-term investments consisted of the following as of March 31, 2020:


	March 31, 2020
	Cost or Amortized Cost		Gross Unrealized
					Gains			Losses			Fair Value
Short-term investments
Bank time deposits	$	191,000	$	—		$	—		$	191,000
Available-for-sale securities:
Corporate bonds	337,752		307			(3,428)			334,631
US Treasuries	30,481		338			—			30,819
Commercial paper	87,553		—			—			87,553

Total short-term investments	$	646,786	$	645		$	(3,428)		$	644,003


	March 31, 2019
	Cost or Amortized Cost		Gross Unrealized
					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 March 31, 2020:


	March 31, 2020
	Amortized Cost		Fair Value
Short-term investments
Due in 1 year or less	$	496,639	$	495,645
Due in 1-2 years	150,147		148,358
Total short-term investments	$	646,786	$	644,003

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Mar. 31, 2020

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:


	March 31,
	2020		2019
Forward contracts to sell foreign currencies	$	122,024	$	116,590
Forward contracts to purchase foreign currencies	$	52,596	$	87,793

Inventory balances by category

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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(n)(2))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959

+ Details

INVENTORY (Tables)

12 Months Ended

Mar. 31, 2020

Inventory Disclosure [Abstract]

Inventory balances by category are as follows:


	March 31,
	2020		2019
Finished products	$	17,984	$	24,847
Parts and supplies	1,124		3,353
Inventory	$	19,108	$	28,200

SOFTWARE DEVELOPMENT COSTS AND LICENSES (Tables)

12 Months Ended

Mar. 31, 2020

SOFTWARE DEVELOPMENT COSTS AND LICENSES

Schedule of capitalized software development costs and licenses

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


	March 31,
	2020						2019
	Current		Non-current		Current		Non-current
Software development costs, internally developed	$	17,367	$	305,970	$	14,809	$	434,712
Software development costs, externally developed	10,971		92,908		3,655		168,381
Licenses	11,978		2,900		10,416		343
Software development costs and licenses	$	40,316	$	401,778	$	28,880	$	603,436

Schedule of amortization and impairment of software development costs and licenses

Amortization and impairment of software development costs and licenses are as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
Amortization of software development costs and licenses	$	321,956	$	342,870	$	101,437
Impairment of software development costs and licenses	—		7,426		1,060
Less: Portion representing stock-based compensation	(154,031)		(149,075)		(24,610)
Amortization and impairment, net of stock-based compensation	$	167,925	$	201,221	$	77,887

FIXED ASSETS, NET (Tables)

12 Months Ended

Mar. 31, 2020

Property, Plant and Equipment [Abstract]

Schedule of fixed asset balances by category

Fixed asset balances by category are as follows:


	March 31,
	2020		2019
Computer equipment	$	127,897	$	118,841
Leasehold improvements	113,057		99,093
Computer software	60,507		52,641
Furniture and fixtures	16,520		16,179
Office equipment	12,109		10,758
	330,090		297,512
Less: accumulated depreciation	(198,202)		(169,630)
Fixed assets, net	$	131,888	$	127,882

The following represents our fixed assets, net by location:


	March 31,
	2020		2019
United States	$	87,153	$	78,197
International	44,735		49,685
Fixed assets, net	$	131,888	$	127,882

GOODWILL AND INTANGIBLE ASSETS, NET (Tables)

12 Months Ended

Mar. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of change in goodwill balance

The change in our goodwill balance is as follows:


	Total
Balance at March 31, 2018	$	399,530
Additions from immaterial acquisition	3,149
Currency translation adjustment	$	(20,962)
Balance at March 31, 2019	$	381,717
Additions from immaterial acquisition	13,205
Currency translation adjustment	$	(8,428)
Balance at March 31, 2020	$	386,494

Schedule of components of the intangible assets subject to amortization

The following table sets forth the intangible assets that are subject to amortization:


	March 31,
	2020										2019
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value		Weighted average useful life
Developed game technology	64,336		(42,425)		21,911		65,428		(32,975)		32,453		4 years
Intellectual property	$	26,109	$	(10,836)	$	15,273	$	26,109	$	(6,524)	$	19,585	6 years
Analytics technology	30,711		(19,450)		11,261		31,271		(13,551)		17,720		5 years
Branding and trade names	4,343		(1,528)		2,815		4,422		(1,065)		3,357		9 years
Total definite-lived intangible assets	$	125,499	$	(74,239)	$	51,260	$	127,230	$	(54,115)	$	73,115

Schedule of amortization of intangible assets

Amortization of intangible assets is included in our Consolidated Statements of Operations as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
Cost of goods sold	$	14,325	$	16,937	$	19,719
Selling and marketing	—		—		8,107
Research and development	6,180		6,436		6,494
Depreciation and amortization	485		506		510
Total amortization of intangible assets	$	20,990	$	23,879	$	34,830

Schedule of estimated future amortization of intangible assets

Estimated future amortization of intangible assets that will be recorded in cost of goods sold and operating expenses for the years ending March 31, are as follows:


Fiscal Year Ended March 31,	Amortization
2021	$	20,527
2022	18,934
2023	7,010
2024	3,831
2025	524

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)

12 Months Ended

Mar. 31, 2020

Liabilities, Current [Abstract]

Components of accrued expenses and other current liabilities

Accrued expenses and other current liabilities consisted of:


	March 31,
	2020		2019
Software development royalties	$	822,416	$	713,201
Compensation and benefits	81,791		73,695
Refund Liability	77,829		65,853
Licenses	57,651		56,221
Marketing and promotions	40,797		42,390


Other	89,400		84,335
Accrued expenses and other current liabilities	$	1,169,884	$	1,035,695

DEBT (Tables)

12 Months Ended

Mar. 31, 2020

Debt Disclosure [Abstract]

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


	March 31,		March 31,
	2020		2019
Available borrowings	$	198,336	$	198,336
Outstanding letters of credit	$	1,664	$	1,664

Schedule of components of interest expense related to convertible notes

The following table provides the components of interest expense related to our Convertible Notes:


	Fiscal Year Ended March 31,
	2020		2019		2018
Cash interest expense (coupon interest expense)	$	—	$	1	$	539
Non-cash amortization of discount on 1.00% Convertible Notes	—		91		15,662
Amortization of debt issuance costs	—		3		466
Total interest expense related to 1.00% Convertible Notes	$	—	$	95	$	16,667

EARNINGS PER SHARE ("EPS") (Tables)

12 Months Ended

Mar. 31, 2020

Earnings Per Share [Abstract]

Schedule of computation of basic and diluted EPS

The following table sets forth the computation of basic and diluted EPS (in thousands except per share amounts):


	Fiscal Year Ended March 31,
	2020		2019		2018
Computation of Basic earnings per share:
Net income	$	404,459	$	333,837	$	173,533
Less: net income allocated to participating securities	—		—		(159)
Net income for basic earnings per share calculation	$	404,459	$	333,837	$	173,374
Total weighted average shares outstanding—basic	113,096		113,176		110,210
Less: weighted average participating shares outstanding	—		—		(101)
Weighted average common shares outstanding—basic	113,096		113,176		110,109
Basic earnings per share	$	3.58	$	2.95	$	1.57
Computation of Diluted earnings per share:
Net income	$	404,459	$	333,837	$	173,533
Less: net income allocated to participating securities	—		—		(155)

Net income for diluted earnings per share calculation	$	404,459	$	333,837	$	173,378
Weighted average common shares outstanding—basic	113,096		113,176		110,109
Add: dilutive effect of common stock equivalents	1,040		2,022		2,755
Weighted average common shares outstanding—diluted	114,136		115,198		112,864
Less: weighted average participating shares outstanding	—		—		(101)
Weighted average common shares outstanding- diluted	114,136		115,198		112,763
Diluted earnings per share	$	3.54	$	2.90	$	1.54

LEASES (Tables)

12 Months Ended

Mar. 31, 2020

Leases [Abstract]

Schedule of lease costs and supplemental information

Information related to our operating leases are as follows:


	Twelve Months Ended March 31, 2020
Lease costs
Operating lease costs	$	29,383
Short term lease costs	$	2,771

Rent expense prior to our adoption of Topic 842 amounted to $29,204 and $25,301 for the fiscal years ended March 31, 2019 and 2018, respectively.


	Twelve Months Ended March 31, 2020
Supplemental operating cash flow information
Cash paid for amounts included in the measurement of lease liabilities	$	28,419
ROU assets obtained in exchange for lease obligations	$	58,745


	At March 31, 2020
Weighted average information
Remaining lease term	8.90 years
Discount rate	4.98	%

Schedule of operating lease liability maturities

Future undiscounted lease payments for our operating lease liabilities, and a reconciliation of these payments to our operating lease liabilities at March 31, 2020, are as follows:


For the years ending March 31,
2021	$	31,897
2022	33,831
2023	31,500
2024	24,321
2025	18,867
Thereafter	80,162
Total future lease payments	$	220,578
Less imputed interest	(43,332)
Total lease liabilities	$	177,246

COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Mar. 31, 2020

Commitments and Contingencies Disclosure [Abstract]

Summary of annual minimum contractual obligations

A summary of annual minimum contractual obligations and commitments as of March 31, 2020 is as follows:


Fiscal Year Ending March 31,	Software Development and Licensing		Marketing		Purchase Obligations		Total
2021	$	151,123	$	11,891	$	38,477	$	201,491
2022	144,975		38,881		23,910		207,766
2023	150,775		40,914		12,503		204,192
2024	122,285		89,260		1,239		212,784
2025	69,188		35,528		947		105,663
Thereafter	52,880		24,788		—		77,668
Total	$	691,226	$	241,262	$	77,076	$	1,009,564

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of of (loss) income from continuing operations before income taxes

Components of income before income taxes are as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
Domestic	$	322,297	$	134,265	$	136,239
Foreign	136,142		98,520		386
Income before income taxes	$	458,439	$	232,785	$	136,625

Schedule of provision for current and deferred income taxes

Provision for (benefit from) current and deferred income taxes consists of the following:


	Fiscal Year Ended March 31,
	2020		2019		2018
Current:
U.S. federal	$	26,561	$	8,240	$	(7,327)
U.S. state and local	3,575		2,857		(1,266)
Foreign	10,061		22,274		4,208
Total current income taxes	40,197		33,371		(4,385)
Deferred:
U.S. federal	45,079		(128,317)		(13,530)
U.S. state and local	1,317		(9,157)		195
Foreign	(32,613)		3,051		(19,188)
Total deferred income taxes	13,783		(134,423)		(32,523)
Provision for (benefit from) income taxes	$	53,980	$	(101,052)	$	(36,908)

Schedule of reconciliation of effective tax rate to the U.S. statutory federal income tax rate

A reconciliation of our effective tax rate to the U.S. statutory federal income tax rate is as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
U.S. federal statutory rate	21.0	%	21.0	%	31.6	%
State and local taxes, net of U.S. federal benefit	2.1	%	2.9	%	0.5	%
Foreign tax rate differential⁽¹⁾	1.0	%	(9.0)	%	(6.9)	%
Foreign earnings⁽²⁾	(9.3)	%	5.1	%	1.2	%
Tax credits⁽³⁾	(8.3)	%	(15.0)	%	(16.5)	%
Excess tax benefits from stock-based compensation	(1.8)	%	(5.7)	%	(38.9)	%
One-time transition tax	—	%	(2.0)	%	19.5	%
Domestic production deduction	—	%	—	%	(2.8)	%
Valuation allowance—domestic	0.2	%	(46.0)	%	(0.5)	%
Valuation allowance—foreign⁽²⁾	7.3	%	—	%	(2.5)	%
Change in reserves	(2.0)	%	1.3	%	(11.0)	%
Other	1.6	%	4.0	%	(0.7)	%
Effective tax rate	11.8	%	(43.4)	%	(27.0)	%

(3) Tax benefits were recorded for fiscal years ended March 31, 2020, 2019, and 2018 attributable to certain tax credits related to software development activities.

Schedule of effects of temporary differences that gave rise to deferred tax assets and liabilities

The effects of temporary differences that gave rise to our deferred tax assets and liabilities were as follows:


	March 31,
	2020		2019
Deferred tax assets:
Accrued compensation expense	$	124,276	$	113,517
Equity-based compensation	66,253		82,720
Tax credit carryforward	45,746		72,408
Tax basis step up related to TRAF	45,266		—
Operating lease liabilities	39,512		—
Net operating loss carryforward	5,555		27,498
Business reorganization	1,874		158
Deferred rent	—		5,965
Other	7,785		411
Total deferred tax assets	336,267		302,677
Less: Valuation allowance	(86,937)		(49,413)
Net deferred tax assets	249,330		253,264
Deferred tax liabilities:
Capitalized software and depreciation	(74,006)		(101,168)
Right of use assets	(36,947)		—
Intangible amortization	(18,206)		(22,486)
Deferred revenue	(5,038)		(17,100)
Other	(3,587)		(4,690)
Total deferred tax liabilities	(137,784)		(145,444)
Net deferred tax asset / (liability) ⁽¹⁾	111,546		107,820

Schedule of aggregate changes to the liability for gross uncertain tax positions, excluding interest and penalties

The aggregate changes to the liability for gross uncertain tax positions, excluding interest and penalties, were as follows:


	Fiscal Year Ended March 31,
	2020		2019		2018
Balance, beginning of period	$	132,320	$	122,056	$	116,085
Additions:
Current year tax positions	8,596		13,281		23,007
Prior year tax positions	1,404		288		7,406
Reduction of prior year tax positions	(14,270)		(1,700)		(436)
Lapse of statute of limitations	(538)		(1,605)		(24,006)

Balance, end of period	$	127,512	$	132,320	$	122,056

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of stock-based compensation expenses

The following table summarizes stock-based compensation expense included in our Consolidated Statements of Operations:


	Fiscal Year Ended March 31,
	2020		2019		2018
Cost of goods sold	$	154,031	$	149,075	$	24,610
Selling and marketing	18,680		23,685		13,258
General and administrative	53,607		51,903		58,037
Research and development	31,563		23,037		18,020
Business reorganization	—		—		2,424
Stock-based compensation expense before income taxes	$	257,881	$	247,700	$	116,349
Income tax benefit	$	(48,687)	$	(48,383)	$	(3,561)
Stock-based compensation expense, net of income tax benefit	$	209,194	$	199,317	$	112,788
Capitalized stock-based compensation expense	$	24,451	$	75,725	$	90,914

Schedule of restricted stock awarded activity to ZelnickMedia

In connection with the 2014 Management Agreement and the 2017 Management Agreement, we granted restricted stock units to ZelnickMedia (see Note 3 - Management Agreement) as follows:


	Fiscal Year Ended March 31,
	2020	2019
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.

Schedule of weighted-average assumptions used to value outstanding market-based restricted shares

The following table summarizes the weighted-average assumptions used in the Monte Carlo Simulation to estimate the fair value of market-based awards:


	Fiscal Year Ended March 31,
	2020						2019						2018
	Employee Market-Based		Non-Employee Market-Based		Employee Market-Based		Non-Employee Market-Based		Employee Market-Based		Non-Employee Market-Based
Risk-free interest rate	1.8	%	2.4	%	2.6	%	2.4	%	1.4	%	2.1	%
Expected stock price volatility	39.4	%	39.9	%	34.9	%	31.4	%	28.4	%	35.5	%
Expected service period (years)	1.5		1.0		1.5		1.0		1.5		1.0
Dividends	None		None		None		None		None		None

Schedule of activity in non-vested restricted stock awards to employees and ZelnickMedia


	Shares (in thousands)	Weighted Average Fair Value on Grant Date
Non-vested restricted stock units at March 31, 2019	2,603	$	95.35
Granted	668	$	113.18
Vested	(1,243)	$	94.86
Forfeited	(68)	$	106.08
Non-vested restricted stock units at March 31, 2020	1,960	$	99.54


	Shares (in thousands)	Weighted Average Fair Value on Grant Date
Non-vested restricted stock units at March 31, 2019	466	$	123.72
Granted	403	$	170.18
Vested	(489)	$	125.63
Forfeited	(22)	$	138.10
Non-vested restricted stock units at March 31, 2020	358	$	157.05


	Shares (in thousands)	Weighted Average Fair Value on Grant Date
Non-vested restricted stock units at March 31, 2019	3,000	$	99.37
Granted	500	$	125.66
Vested	(233)	$	109.64
Forfeited	(28)	$	101.49
Non-vested restricted stock units at March 31, 2020	3,239	$	119.97

Fair Value Measurement Inputs and Valuation Techniques

The following table summarizes the assumptions used in the Black-Scholes valuation model to value our purchase rights:


	Fiscal Year Ended March 31,	Fiscal Year Ended March 31,
	2020	2019
Risk-free interest rate	1.6% - 2.4%	2.1% - 2.5%
Expected stock price volatility	28.1% - 45.6%	39.1% - 40.0%
Expected service period (years)	0.5	0.5
Dividends	None	None

INTEREST AND OTHER, NET (Tables)

12 Months Ended

Mar. 31, 2020

Other Income and Expenses [Abstract]

Schedule of interest and other, net


	Fiscal Year Ended March 31,
	2020		2019		2018
Interest income	$	47,341	$	38,019	$	21,264
Interest expense	(2,637)		(8,032)		(22,269)
Foreign currency exchange loss	(3,589)		(505)		(3,038)
Other	(2,610)		(3,369)		5,091
Interest and other, net	$	38,505	$	26,113	$	1,048

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Mar. 31, 2020

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

Schedule of components of accumulated other comprehensive (loss) income

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


	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 (loss) income before reclassifications	(28,803)		—		763		2,440		(25,600)
Amounts reclassified from accumulated other comprehensive (loss) income	—		—		3,726		—		3,726
Tax effect on cross-currency swap	—		—		417		—		417
Balance at March 31, 2019	$	(33,090)	$	600	$	(5,285)	$	586	$	(37,189)
Other comprehensive (loss) income before reclassifications	(27,445)		—		10,504		(3,332)		(20,273)
Amounts reclassified from accumulated other comprehensive (loss) income	—		—		(1,689)		—		(1,689)
Tax effect on cross-currency swap	—		—		775		—		775
Balance at March 31, 2020	$	(60,535)	$	600	$	4,305	$	(2,746)	$	(58,376)

SUPPLEMENTARY FINANCIAL INFORMATION (Tables)

12 Months Ended

Mar. 31, 2020

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule of details of valuation and qualifying accounts

The following table provides details of our valuation and qualifying accounts:


	Beginning Balance		Additions		Deductions		Other		Ending Balance
Fiscal Year Ended March 31, 2020
Valuation allowance for deferred income taxes	$	49,413	44,703		(7,179)		—		$	86,937
Allowance for doubtful accounts	995		—		(547)		(5)		443
Fiscal Year Ended March 31, 2019
Valuation allowance for deferred income taxes⁽¹⁾	$	195,640	11,850		(107,133)		(50,944)		$	49,413
Allowance for doubtful accounts	1,247		651		—		(903)		995
Fiscal Year Ended March 31, 2018
Valuation allowance for deferred income taxes	$	184,085	11,555		—		—		$	195,640
Price protection, sales returns and other allowances⁽²⁾	$	65,114	59,674		(74,936)		3,191		$	53,043
Allowance for doubtful accounts	1,369		—		(122)		—		1,247
Total accounts receivable allowances	$	66,483	$	59,674	$	(75,058)	$	3,191	$	54,290

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Tables)

12 Months Ended

Mar. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly supplementary data

The following tables set forth quarterly supplementary data for each of the years in the two-year period ended March 31, 2020:


	Quarter
Fiscal Year Ended March 31, 2020	First		Second		Third		Fourth
Net revenue	$	540,459	$	857,841	$	930,129	$	760,541
Gross profit	298,990		389,593		493,036		364,901
Income from operations	51,730		74,820		176,833		121,884
Net income	$	46,280	$	71,815	$	163,642	$	122,722
Earnings per share:
Basic earnings per share	$	0.41	$	0.63	$	1.44	$	1.08
Diluted earnings per share	$	0.41	$	0.63	$	1.43	$	1.07


	Quarter
Fiscal Year Ended March 31, 2019	First		Second		Third		Fourth
Net revenue	$	387,982	$	492,667	$	1,248,738	$	539,007
Gross profit	256,617		257,787		350,254		280,092
Income from operations	70,846		25,986		51,779		58,061
Net income	$	71,693	$	25,367	$	179,948	$	56,829
Earnings per share:
Basic earnings per share	$	0.63	$	0.22	$	1.59	$	0.50
Diluted earnings per share	$	0.62	$	0.22	$	1.57	$	0.50

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - NARRATIVE (Details)	12 Months Ended
	Mar. 31, 2020 USD ($) segment unit	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)
Goodwill [Line Items]
Number of operating segments \| segment	1
Number of reportable segments \| segment	1
Number of reporting units \| unit	2
Goodwill and intangible asset impairment	$ 0	$ 0	$ 0
Goodwill	$ 386,494,000	$ 381,717,000	$ 399,530,000
Estimated service period minimum	6 months
Estimated service period maximum	15 months
Reporting unit
Goodwill [Line Items]
Goodwill	$ 152,175,000

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - CONCENTRATION RISK (Details)	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Net revenue \| Customer concentration risk \| Five largest customers
Concentration of Credit Risk and Accounts Receivable
Concentration risk rate	71.50%	70.10%	70.70%
Net revenue \| Customer concentration risk \| One Customer
Concentration of Credit Risk and Accounts Receivable
Concentration risk rate	31.90%	31.30%	30.20%
Net revenue \| Customer concentration risk \| Second Customer
Concentration of Credit Risk and Accounts Receivable
Concentration risk rate	20.00%	18.10%	17.60%
Net revenue \| Customer concentration risk \| Third Customer
Concentration of Credit Risk and Accounts Receivable
Concentration risk rate		10.50%
Gross accounts receivable \| Credit concentration risk \| Five largest customers
Concentration of Credit Risk and Accounts Receivable
Concentration risk rate	58.10%	66.60%
Gross accounts receivable \| Credit concentration risk \| Additional customer two
Concentration of Credit Risk and Accounts Receivable
Concentration risk rate	29.40%	19.40%
Gross accounts receivable \| Credit concentration risk \| Additional customer three
Concentration of Credit Risk and Accounts Receivable
Concentration risk rate	40.10%	15.70%
Gross accounts receivable \| Credit concentration risk \| Customers individually accounting for more than 10%
Concentration of Credit Risk and Accounts Receivable
Concentration risk rate	48.80%	55.80%

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - INTANGIBLE ASSETS (Details) - Software products	12 Months Ended
	Mar. 31, 2020
Minimum
Capitalized software development costs and licenses
Amortization periods	12 months
Maximum
Capitalized software development costs and licenses
Amortization periods	36 months

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - FIXED ASSETS (Details)	12 Months Ended
	Mar. 31, 2020
Furniture and fixtures
Fixed assets
Estimated useful life	5 years
Leasehold improvements
Fixed assets
Estimated useful life	7 years
Minimum \| Computer equipment
Fixed assets
Estimated useful life	3 years
Maximum \| Computer equipment
Fixed assets
Estimated useful life	5 years

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - ADVERTISING (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Accounting Policies [Abstract]
Advertising expense	$ 285,607	$ 249,315	$ 140,618

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - REVENUE FROM CONTRACTS WITH CUSTOMERS (Details) - Accounting Standards Update 2014-09 $ in Thousands	Apr. 01, 2018 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle	$ 474,926
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle	$ 470,273

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - BALANCE SHEET IMPACT OF ASU 2014-09 (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Apr. 01, 2019	Mar. 31, 2019
Change in Accounting Estimate [Line Items]
Prepaid expenses and other	$ 273,503	$ 185,896	$ 186,688
Right-of-use assets	154,284	118,799	0
Accrued expenses and other current liabilities	1,169,884	1,032,719	1,035,695
Lease Liabilities	25,187	18,937	0
Non-current lease liabilities	152,059	122,041	0
Other long-term liabilities	$ 190,651	$ 209,638	229,633
Accounting Standards Update 2014-09
Change in Accounting Estimate [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								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Revenue from External Customer [Line Items]
Total net revenue	$ 760,541	$ 930,129	$ 857,841	$ 540,459	$ 539,007	$ 1,248,738	$ 492,667	$ 387,982	$ 3,088,970	$ 2,668,394	$ 1,792,892
Product
Revenue from External Customer [Line Items]
Total net revenue									1,839,696	1,319,033
Service and other
Revenue from External Customer [Line Items]
Total net revenue									1,249,274	1,349,361
Full game and other
Revenue from External Customer [Line Items]
Total net revenue									1,703,971	1,597,478
Recurrent Consumer Spending ("RCS")
Revenue from External Customer [Line Items]
Total net revenue									1,384,999	1,070,916
Console
Revenue from External Customer [Line Items]
Total net revenue									2,308,602	2,233,861	1,463,306
PC and other
Revenue from External Customer [Line Items]
Total net revenue									780,368	434,533	329,586
Digital online
Revenue from External Customer [Line Items]
Total net revenue									2,378,563	1,681,609	1,130,946
Physical retail and other
Revenue from External Customer [Line Items]
Total net revenue									$ 710,407	$ 986,785	$ 661,946

REVENUE FROM CONTRACTS WITH CUSTOMERS (Geographical) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Disaggregation of Revenue [Line Items]
Total net revenue	$ 760,541	$ 930,129	$ 857,841	$ 540,459	$ 539,007	$ 1,248,738	$ 492,667	$ 387,982	$ 3,088,970	$ 2,668,394	$ 1,792,892
United States
Disaggregation of Revenue [Line Items]
Total net revenue									1,775,682	1,426,906	1,052,313
International
Disaggregation of Revenue [Line Items]
Total net revenue									$ 1,313,288	$ 1,241,488	$ 740,579

REVENUE FROM CONTRACTS WITH CUSTOMERS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
Contract with liability	$ 806,123	$ 864,360
Contract with liability recognized	850,266
Contract asset	81,625	$ 57,643
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining obligation	889,287
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining obligation	$ 800,549
Revenue obligation, expected timing of satisfaction	12 months

MANAGEMENT AGREEMENT (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
MANAGEMENT AGREEMENT (Details) - USD ($) $ in Thousands	Jan. 01, 2018	Mar. 31, 2014	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Management Agreement
Stock-based compensation expense for non-employee awards			$ 23,413	$ 21,257	$ 32,801
Zelnick Media Corporation \| 2014 Management Agreement
Management Agreement
Annual management fee		$ 2,970
Consulting expense benefit			$ 10,540	$ 9,265	$ 8,426
Zelnick Media Corporation \| 2014 Management Agreement \| Maximum
Management Agreement
Bonus per fiscal year based on the achievement of certain performance thresholds		$ 4,752
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

FAIR VALUE MEASUREMENTS - ASSETS MEASURED AT FAIR VALUE (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Assets measured at fair value on a recurring basis
Short-term investments	$ 644,003	$ 744,485
Private equity	2,759
Total recurring fair value measurements, net	2,212,804	1,766,768
Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Private equity	0
Total recurring fair value measurements, net	1,669,165	1,424,200
Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Private equity	0
Total recurring fair value measurements, net	540,880	340,745
Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Private equity	2,759
Total recurring fair value measurements, net	2,759	1,823
Currency Swap
Assets measured at fair value on a recurring basis
Prepaid expenses and other	11,275
Other assets, accrued expenses and other current liabilities		(423)
Currency Swap \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Prepaid expenses and other	0
Other assets, accrued expenses and other current liabilities		0
Currency Swap \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Prepaid expenses and other	11,275
Other assets, accrued expenses and other current liabilities		(423)
Currency Swap \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Prepaid expenses and other	0
Other assets, accrued expenses and other current liabilities		0
Foreign Exchange Forward
Assets measured at fair value on a recurring basis
Prepaid expenses and other		791
Other assets, accrued expenses and other current liabilities	(11)	1,823
Foreign Exchange Forward \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Prepaid expenses and other		0
Other assets, accrued expenses and other current liabilities	0	0
Foreign Exchange Forward \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Prepaid expenses and other		791
Other assets, accrued expenses and other current liabilities	(11)	0
Foreign Exchange Forward \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Prepaid expenses and other		0
Other assets, accrued expenses and other current liabilities	0	1,823
Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	497,861	389,936
Restricted cash and cash equivalents	546,604
Long-term restricted cash and cash equivalents	89,124
Money market funds \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	497,861	389,936
Restricted cash and cash equivalents	546,604
Long-term restricted cash and cash equivalents	89,124
Money market funds \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0
Long-term restricted cash and cash equivalents	0
Money market funds \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0
Long-term restricted cash and cash equivalents	0
Bank time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	313,757	39,246
Bank time deposits \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	313,757	0
Bank time deposits \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	39,246
Bank time deposits \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	97,544	25,449
Commercial paper \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	25,449
Commercial paper \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	97,544	0
Commercial paper \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Commercial paper
Assets measured at fair value on a recurring basis
Short-term investments	87,553	55,634
Commercial paper \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Short-term investments	0	55,634
Commercial paper \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Short-term investments	87,553	0
Commercial paper \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Short-term investments	0	0
US Treasuries
Assets measured at fair value on a recurring basis
Cash and cash equivalents	9,888
Short-term investments	30,819	387,720
US Treasuries \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0
Short-term investments	30,819	387,720
US Treasuries \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	9,888
Short-term investments	0	0
US Treasuries \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0
Short-term investments	0	0
Bank time deposits
Assets measured at fair value on a recurring basis
Short-term investments	191,000	296,141
Bank time deposits \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Short-term investments	191,000	0
Bank time deposits \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Short-term investments	0	296,141
Bank time deposits \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Corporate bonds
Assets measured at fair value on a recurring basis
Short-term investments	334,631	565,461
Corporate bonds \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Short-term investments	0	565,461
Corporate bonds \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Short-term investments	334,631	0
Corporate bonds \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Short-term investments	$ 0	0
Commercial paper
Assets measured at fair value on a recurring basis
Short-term investments		4,990
Commercial paper \| Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Short-term investments		0
Commercial paper \| Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Short-term investments		4,990
Commercial paper \| Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Short-term investments		$ 0

SHORT-TERM INVESTMENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Debt Securities, Available-for-sale, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Cost or Amortized Cost	$ 646,786	$ 743,892
Gains	645	769
Losses	(3,428)	(176)
Fair Value	644,003	744,485
Bank time deposits
Debt Securities, Available-for-sale, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Cost or Amortized Cost	191,000	387,720
Gains	0	0
Losses	0	0
Fair Value	191,000	387,720
Corporate bonds
Debt Securities, Available-for-sale, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Cost or Amortized Cost	337,752	295,526
Gains	307	742
Losses	(3,428)	(127)
Fair Value	334,631	296,141
US Treasuries
Debt Securities, Available-for-sale, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Cost or Amortized Cost	30,481	55,656
Gains	338	27
Losses	0	(49)
Fair Value	30,819	55,634
Commercial paper
Debt Securities, Available-for-sale, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Cost or Amortized Cost	87,553	4,990
Gains	0	0
Losses	0	0
Fair Value	$ 87,553	$ 4,990

SHORT-TERM INVESTMENTS (Short Term Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Amortized Cost, 1 year or less	$ 496,639
Amortized Cost, 1-2 years	150,147
Cost or Amortized Cost	646,786	$ 743,892
Fair Value, 1 year or less	495,645
Fair Value, 1-2 years	148,358
Total short-term investments	$ 644,003	$ 744,485

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Derivative [Line Items]
Forward contracts to sell foreign currencies	$ 122,024	$ 116,590
Forward contracts to purchase foreign currencies	52,596	87,793
Derivative instrument not designated as hedging instruments, gain (loss), net	(959)	$ 16,831	$ (19,473)
Cash Flow Hedging \| Currency Swap
Derivative [Line Items]
Derivative, notional amount	$ 108,867

INVENTORY (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Inventory Disclosure [Abstract]
Finished products	$ 17,984	$ 24,847
Parts and supplies	1,124	3,353
Inventory	19,108	28,200
Estimated product returns included in inventory	$ 506	$ 491

SOFTWARE DEVELOPMENT COSTS AND LICENSES (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Capitalized software development costs and licenses

Software development costs and licenses, Non-current

$ 40,316

$ 28,880

401,778

603,436

Software Development Costs and Licenses Related to Titles Not Released

333,063

378,030

Amortization and impairment of software development costs and licenses

Amortization of software development costs and licenses

321,956

342,870

$ 101,437

Impairment of software development costs and licenses

7,426

1,060

Less: Portion representing stock-based compensation

(154,031)

(149,075)

(24,610)

Amortization and impairment, net of stock-based compensation

167,925

201,221

^[1]

$ 77,887

^[1]

Impairment of software development

7,426

Software development costs, internally developed

Capitalized software development costs and licenses

Software development costs and licenses, Non-current

17,367

14,809

305,970

434,712

Software development costs, externally developed

Capitalized software development costs and licenses

Software development costs and licenses, Non-current

10,971

3,655

92,908

168,381

Licenses

Capitalized software development costs and licenses

Software development costs and licenses, Non-current

11,978

10,416

$ 2,900

$ 343

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

FIXED ASSETS, NET (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Less: accumulated depreciation

$ 330,090

$ 297,512

(198,202)

(169,630)

Fixed assets, net

131,888

127,882

Depreciation expense

47,628

39,726

^[1]

$ 32,202

^[1]

Computer equipment

127,897

118,841

Leasehold improvements

113,057

99,093

Computer software

60,507

52,641

Furniture and fixtures

16,520

16,179

Furniture and fixtures

12,109

10,758

Fixed Assets, Net

Depreciation expense

47,628

39,726

$ 32,202

United States

Fixed assets, net

87,153

78,197

International

Non-cash amortization of discount on Convertible Notes

Fixed assets, net

$ 44,735

$ 49,685

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

GOODWILL AND INTANGIBLE ASSETS, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Change in the goodwill balance
Balance at the beginning of the period	$ 381,717	$ 399,530
Additions from immaterial acquisition	13,205	3,149
Currency translation adjustment	(8,428)	(20,962)
Balance at the end of the period	386,494	381,717
Components of the intangible assets subject to amortization
Gross Carrying Amount	125,499	127,230
Accumulated Amortization	(74,239)	(54,115)
Net Book Value	51,260	73,115
Developed game technology
Components of the intangible assets subject to amortization
Gross Carrying Amount	64,336	65,428
Accumulated Amortization	(42,425)	(32,975)
Net Book Value	$ 21,911	32,453
Weighted average useful life	4 years
Intellectual property
Components of the intangible assets subject to amortization
Gross Carrying Amount	$ 26,109	26,109
Accumulated Amortization	(10,836)	(6,524)
Net Book Value	$ 15,273	19,585
Weighted average useful life	6 years
Analytics technology
Components of the intangible assets subject to amortization
Gross Carrying Amount	$ 30,711	31,271
Accumulated Amortization	(19,450)	(13,551)
Net Book Value	$ 11,261	17,720
Weighted average useful life	5 years
Branding and trade names
Components of the intangible assets subject to amortization
Gross Carrying Amount	$ 4,343	4,422
Accumulated Amortization	(1,528)	(1,065)
Net Book Value	$ 2,815	$ 3,357
Weighted average useful life	9 years

GOODWILL AND INTANGIBLE ASSETS, NET (Amortization of Intangible Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Capitalized software development costs and licenses
Total amortization of intangible assets	$ 20,990	$ 23,879	$ 34,830
Cost of goods sold
Capitalized software development costs and licenses
Total amortization of intangible assets	14,325	16,937	19,719
Selling and marketing
Capitalized software development costs and licenses
Total amortization of intangible assets	0	0	8,107
Research and development
Capitalized software development costs and licenses
Total amortization of intangible assets	6,180	6,436	6,494
Depreciation and amortization
Capitalized software development costs and licenses
Total amortization of intangible assets	$ 485	$ 506	$ 510

GOODWILL AND INTANGIBLE ASSETS, NET (Estimated Future Amortization) (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 20,527
2022	18,934
2023	7,010
2024	3,831
2025	$ 524

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Apr. 01, 2019	Mar. 31, 2019
Liabilities, Current [Abstract]
Software development royalties	$ 822,416		$ 713,201
Compensation and benefits	81,791		73,695
Refund Liability	77,829		65,853
Licenses	57,651		56,221
Marketing and promotions	40,797		42,390
Other	89,400		84,335
Accrued expenses and other current liabilities	$ 1,169,884	$ 1,032,719	$ 1,035,695

DEBT - CREDIT AGREEMENT (Details) - USD ($)		12 Months Ended
DEBT - CREDIT AGREEMENT (Details) - USD ($)	Feb. 08, 2019	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Credit Agreement
Credit Agreement
Debt term	5 years
Maximum borrowing capacity	$ 200,000,000
Amount of additional borrowings by which maximum borrowing capacity may be increased	250,000,000
Outstanding borrowings		$ 0
Credit Agreement Availability
Available borrowings		198,336,000	$ 198,336,000
Outstanding letters of credit		1,664,000	1,664,000
Interest expense		$ 275,000	372,000
Interest expense and fees			$ 472,000	$ 441,000
Credit Agreement \| Base rate
Credit Agreement
Interest rate at end of period (as a percent)		5.50%
Credit Agreement \| Base rate \| Minimum
Credit Agreement
Interest rate added to base rate (as a percent)		0.25%
Credit Agreement \| Base rate \| Maximum
Credit Agreement
Interest rate added to base rate (as a percent)		0.75%
Credit Agreement \| LIBOR
Credit Agreement
Interest rate at end of period (as a percent)		1.66%
Credit Agreement \| LIBOR \| Minimum
Credit Agreement
Interest rate added to base rate (as a percent)		1.125%
Credit Agreement \| LIBOR \| Maximum
Credit Agreement
Interest rate added to base rate (as a percent)		1.75%
Letter of Credit
Credit Agreement
Maximum borrowing capacity	$ 25,000,000

DEBT - 1.00 CONVERTIBLE NOTES (Details) - 1.00% Convertible Notes due 2018 - USD ($)	Jun. 18, 2013	Mar. 31, 2019	Mar. 31, 2018
Convertible Notes
Interest rate		1.00%	1.00%
Convertible Debt
Convertible Notes
Interest rate	1.00%
Principal amount at issuance	$ 250,000,000
Percentage of par value at which debt was issued	98.50%
Proceeds from issuance of debt	$ 283,188,000
Proceeds from issuance of debt, overallotment	$ 37,500,000

DEBT - INTEREST EXPENSE COMPONENTS (Details) - USD ($)
$ in Thousands

12 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Jun. 18, 2013

Debt Instrument [Line Items]

$ 0

$ 91

^[1]

$ 15,662

^[1]

1.00% Convertible Notes due 2018

Debt Instrument [Line Items]

Interest rate

1.00%

Convertible Debt | 1.00% Convertible Notes due 2018

Debt Instrument [Line Items]

Interest rate

1.00%

Cash interest expense (coupon interest expense)

$ 1

$ 539

Non-cash amortization of discount on Convertible Notes

15,662

Amortization of debt issuance costs

466

Total interest expense related to Convertible Notes

$ 0

$ 95

$ 16,667

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

EARNINGS PER SHARE ("EPS") (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Computation of Basic earnings per share:

Less: net income allocated to participating securities

$ 122,722

$ 163,642

$ 71,815

$ 46,280

$ 56,829

$ 179,948

$ 25,367

$ 71,693

$ 404,459

$ 333,837

^[1]

$ 173,533

^[1]

(159)

Net (loss) income for basic (loss) earnings per share calculation

$ 404,459

$ 333,837

$ 173,374

Total weighted average shares outstanding - basic (in shares)

113,096

113,176

110,210

Less: weighted average participating shares outstanding (in shares)

(101)

Weighted average common shares outstanding - basic (in shares)

113,096

113,176

110,109

Basic earnings per share (in dollars per share)

$ 1.08

$ 1.44

$ 0.63

$ 0.41

$ 0.50

$ 1.59

$ 0.22

$ 0.63

$ 3.58

$ 2.95

$ 1.57

Computation of Diluted earnings per share:

Less: net income allocated to participating securities

$ 122,722

$ 163,642

$ 71,815

$ 46,280

$ 56,829

$ 179,948

$ 25,367

$ 71,693

$ 404,459

$ 333,837

^[1]

$ 173,533

^[1]

(155)

Net income for diluted earnings per share calculation

$ 404,459

$ 333,837

$ 173,378

Weighted average common shares outstanding - basic (in shares)

113,096

113,176

110,109

Add: dilutive effect of common stock equivalents (in shares)

1,040

2,022

2,755

Weighted average common shares outstanding—diluted (in shares)

114,136

115,198

112,864

Less: weighted average participating shares outstanding (in shares)

(101)

Weighted average common shares outstanding - diluted (in shares)

114,136

115,198

112,763

Diluted earnings (loss) per share (in dollars per share)

$ 1.07

$ 1.43

$ 0.63

$ 0.41

$ 0.50

$ 1.57

$ 0.22

$ 0.62

$ 3.54

$ 2.90

$ 1.54

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

LEASES (Details) - USD ($)	12 Months Ended
LEASES (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Lessee, Lease, Description [Line Items]
Operating lease costs	$ 29,383,000
Short term lease costs	2,771,000
Rent expense		$ 29,204,000	$ 25,301,000
Cash paid for amounts included in the measurement of lease liabilities	28,419
ROU assets obtained in exchange for lease obligations	$ 58,745
Remaining lease term	8 years 10 months 24 days
Discount rate	4.98%
Facility leases not yet commenced, future lease payments	$ 16,216,000
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease terms	1 year
Lease renewal terms	1 year
Facility leases not yet commenced, lease term	7 years
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease terms	15 years
Lease renewal terms	5 years
Facility leases not yet commenced, lease term	10 years

LEASES - OPERATING LEASE MATURITIES (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Leases [Abstract]
2021	$ 31,897
2022	33,831
2023	31,500
2024	24,321
2025	18,867
Thereafter	80,162
Total	220,578
Less imputed interest	(43,332)
Total lease liabilities	$ 177,246

COMMITMENTS AND CONTINGENCIES - ANNUAL MINIMUM OBLIGATIONS (Details) $ in Thousands	Mar. 31, 2020 USD ($)
Operating Leases
2021	$ 31,897
2022	33,831
2023	31,500
2024	24,321
2025	18,867
Thereafter	80,162
Total	220,578
Purchase Obligations
2021	38,477
2022	23,910
2023	12,503
2024	1,239
2025	947
Thereafter	0
Total	77,076
2021	201,491
2022	207,766
2023	204,192
2024	212,784
2025	105,663
Thereafter	77,668
Total	1,009,564
Software Development and licensing
Unrecorded Unconditional Purchase Obligation
2021	151,123
2022	144,975
2023	150,775
2024	122,285
2025	69,188
Thereafter	52,880
Total	691,226
Marketing
Unrecorded Unconditional Purchase Obligation
2021	11,891
2022	38,881
2023	40,914
2024	89,260
2025	35,528
Thereafter	24,788
Total	$ 241,262

COMMITMENTS AND CONTINGENCIES - CONTINGENT CONSIDERATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$ 29,204	$ 25,301

COMMITMENTS AND CONTINGENCIES - SAVINGS PLANS AND INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Matching contribution expense incurred by the Company	$ 14,071	$ 10,881	$ 9,592

INCOME TAXES - CURRENT INCOME TAX (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Components of (loss) income before income taxes
Domestic	$ 322,297	$ 134,265	$ 136,239
Foreign	136,142	98,520	386
Income before income taxes	458,439	232,785	136,625
Current:
U.S. federal	26,561	8,240	(7,327)
U.S. state and local	3,575	2,857	(1,266)
Foreign	10,061	22,274	4,208
Total current income taxes	40,197	33,371	(4,385)
Deferred:
U.S. federal	45,079	(128,317)	(13,530)
U.S. state and local	1,317	(9,157)	195
Foreign	(32,613)	3,051	(19,188)
Total deferred income taxes	13,783	(134,423)	(32,523)
Provision for (benefit from) income taxes	$ 53,980	$ (101,052)	$ (36,908)
Reconciliation of effective tax rate to the U.S. statutory federal income tax rate
U.S. federal statutory rate	21.00%	21.00%	31.60%
State and local taxes, net of U.S. federal benefit	2.10%	2.90%	0.50%
Foreign tax rate differential(1)	1.00%	(9.00%)	(6.90%)
Foreign earnings(2)	(9.30%)	5.10%	1.20%
Tax credits(3)	(8.30%)	(15.00%)	(16.50%)
Excess tax benefits from stock-based compensation	(1.80%)	(5.70%)	(38.90%)
One-time transition tax	0.00%	(2.00%)	19.50%
Domestic production deduction	0.00%	0.00%	(2.80%)
Valuation allowance—domestic	0.20%	(46.00%)	(0.50%)
Valuation allowance—foreign(2)	7.30%	0.00%	(2.50%)
Change in reserves	(2.00%)	1.30%	(11.00%)
Other	1.60%	4.00%	(0.70%)
Effective tax rate	11.80%	(43.40%)	(27.00%)
Foreign tax rate differential, amount	$ 19,826

INCOME TAXES - DEFERRED TAXES (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019
Deferred tax assets:
Accrued compensation expense	$ 124,276	$ 113,517
Equity-based compensation	66,253	82,720
Tax credit carryforward	45,746	72,408
Tax basis step up related to TRAF	45,266	0
Operating lease liabilities	39,512
Net operating loss carryforward	5,555	27,498
Business reorganization	1,874	158
Deferred rent		5,965
Other	7,785	411
Total deferred tax assets	336,267	302,677
Less: Valuation allowance	(86,937)	(49,413)
Net deferred tax assets	249,330	253,264
Deferred tax liabilities:
Capitalized software and depreciation	(74,006)	(101,168)
Right of use assets	(36,947)
Intangible amortization	(18,206)	(22,486)
Deferred revenue	(5,038)	(17,100)
Other	(3,587)	(4,690)
Total deferred tax liabilities	(137,784)	(145,444)
Net deferred tax asset	111,546	107,820
Deferred Tax Assets
Deferred tax assets:
Total deferred tax assets	116,676	134,732
Other long term liabilities
Deferred tax liabilities:
Net deferred tax liability	$ (5,130)	$ (26,912)

INCOME TAXES - LOSS CARRYFORWARDS (Details) - USD ($)	12 Months Ended
INCOME TAXES - LOSS CARRYFORWARDS (Details) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Operating loss carryforwards
Total amount of undistributed earnings of foreign subsidiaries	$ 562,269,000	$ 410,095,000
Provision for foreign withholding taxes or U.S. income taxes, which may become payable if undistributed earnings of foreign subsidiaries are repatriated	0
Domestic
Operating loss carryforwards
Net operating loss carryforwards	39,506,000
Domestic \| Expire from 2022 to 2027
Operating loss carryforwards
Net operating loss carryforwards	24,019,000
Domestic \| Expire in 2029 to 2032
Operating loss carryforwards
Net operating loss carryforwards	13,195,000
Domestic \| Expire in 2038
Operating loss carryforwards
Net operating loss carryforwards	2,292,000
Foreign
Operating loss carryforwards
Net operating loss carryforwards	12,351,000
Foreign \| Expire 2023 to 2028
Operating loss carryforwards
Net operating loss carryforwards	3,606,000
Domestic Tax Authority
Operating loss carryforwards
Tax credit carryforward	160,793,000
Domestic Tax Authority \| Expire 2029 to 2039
Operating loss carryforwards
Tax credit carryforward	$ 60,248,000

INCOME TAXES - UNCERTAIN TAX POSITIONS (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Increase in interest and penalties	$ 71	$ 232	$ 2,363
Gross amount of interest and penalties accrued	6,757	6,686
Gross unrecognized tax benefits including interest and penalties	134,269
Gross unrealized tax benefits, which would affect effective tax rate, if realized	30,658
Possible decrease in unrecognized tax benefits	4,737
Possible reduction of unrecognized tax benefits within the next 12 months	24,983
Aggregate changes to the liability for gross uncertain tax position, excluding interest and penalties
Balance, beginning of period	132,320	122,056	116,085
Additions:
Current year tax positions	8,596	13,281	23,007
Prior year tax positions	1,404	288	7,406
Reduction of prior year tax positions	(14,270)	(1,700)	(436)
Lapse of statute of limitations	(538)	(1,605)	(24,006)
Balance, end of period	$ 127,512	$ 132,320	$ 122,056

STOCK-BASED COMPENSATION - 2009 PLAN (Details) - 2009 Plan - shares	Mar. 31, 2020	Sep. 30, 2017
Stock-based compensation
Number of shares issuable		7,596,000
Number of new shares available for grant	5,065,000

STOCK-BASED COMPENSATION - COMPENSATION EXPENSE (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Stock-based compensation expense
Stock-based compensation expense before income taxes	$ 257,881	$ 247,700	$ 116,349
Income tax benefit	(48,687)	(48,383)	(3,561)
Stock-based compensation expense, net of income tax benefit	209,194	199,317	112,788
Capitalized stock-based compensation expense	24,451	75,725	90,914
Cost of goods sold
Stock-based compensation expense
Stock-based compensation expense before income taxes	154,031	149,075	24,610
Selling and marketing
Stock-based compensation expense
Stock-based compensation expense before income taxes	18,680	23,685	13,258
General and administrative
Stock-based compensation expense
Stock-based compensation expense before income taxes	53,607	51,903	58,037
Research and development
Stock-based compensation expense
Stock-based compensation expense before income taxes	31,563	23,037	18,020
Business reorganization
Stock-based compensation expense
Stock-based compensation expense before income taxes	$ 0	$ 0	$ 2,424

STOCK-BASED COMPENSATION - NARRATIVE (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Management Agreement
Reversal of forfeiture awards	$ 425	$ 5,784	$ 17,609
Reversal of capitalized costs	$ 2,607	$ 17,504
Restricted stock
Management Agreement
Award vesting period	3 years
Future unrecognized compensation cost, net of estimated forfeitures	$ 250,271
Weighted average remaining contractual terms	2 years 1 month 6 days
Time Based
Management Agreement
Intrinsic value (in dollars per share)	$ 115.01	$ 103.79	$ 106.28
Time Based \| Zelnick Media Corporation
Management Agreement
Intrinsic value (in dollars per share)	92.65	97.19	78.53
Market-based restricted shares \| Zelnick Media Corporation
Management Agreement
Options granted in period (in dollars per shares)	132.50	119.21	185.66
Employee Market-Based
Management Agreement
Options granted in period (in dollars per shares)	$ 201.07	$ 150.91	141.78
2017 Management Agreement \| Restricted stock
Management Agreement
Vested (in shares)	209,000
Forfeited (in shares)	20,000
Non-vested restricted stock units (in shares)	613,000	526,000
Performance Based Awards
Management Agreement
Granted (in shares)	500,000
Nonvested shares (in shares)	3,239,000	3,000,000
Vested (in shares)	233,000
Forfeited (in shares)	28,000
Options granted in period (in dollars per shares)	$ 124.50	$ 100.29	102.57
Performance Based Awards \| Zelnick Media Corporation
Management Agreement
Options granted in period (in dollars per shares)	$ 92.65	$ 97.19	$ 97.78
Performance and market-based restricted stock awards
Management Agreement
Fair values of restricted stock units vested	$ 219,007	$ 264,162	$ 268,570
Market-based restricted stock units
Management Agreement
Award vesting period	2 years
Target units as a percentage of total units to be earned	50.00%
Performance-based restricted stock units
Management Agreement
Award vesting period	2 years
Target units as a percentage of total units to be earned	50.00%
IP
Management Agreement
Allocation of performance-based restricted stock units	50.00%
Recurrent Consumer Spending ("RCS")
Management Agreement
Allocation of performance-based restricted stock units	50.00%

STOCK-BASED COMPENSATION - 2017 MANAGEMENT AGREEMENT (Details) - shares	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Time-based
Stock-based compensation
Granted (in shares)	668,000
2017 Management Agreement \| Zelnick Media Corporation
Stock-based compensation
Granted (in shares)	316,000	297,000
2017 Management Agreement \| Zelnick Media Corporation \| Time-based
Stock-based compensation
Granted (in shares)	92,000	86,000
2017 Management Agreement \| Zelnick Media Corporation \| Market-based
Stock-based compensation
Granted (in shares)	168,000	158,000
2017 Management Agreement \| Zelnick Media Corporation \| Total-Performance-based
Stock-based compensation
Granted (in shares)	56,000	53,000
2017 Management Agreement \| Zelnick Media Corporation \| IP
Stock-based compensation
Granted (in shares)	28,000	27,000
2017 Management Agreement \| Zelnick Media Corporation \| Recurrent Consumer Spending ("RCS")
Stock-based compensation
Granted (in shares)	28,000	26,000

STOCK-BASED COMPENSATION - STOCK ACTIVITY (Details) - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Employee Market-Based
Weighted-average assumptions
Risk-free interest rate	1.80%	2.60%	1.40%
Expected stock price volatility	39.40%	34.90%	28.40%
Expected service period (years)	1 year 6 months	1 year 6 months	1 year 6 months
Dividends	$ 0	$ 0	$ 0
Non-Employee Market-Based
Weighted-average assumptions
Risk-free interest rate	2.40%	2.40%	2.10%
Expected stock price volatility	39.90%	31.40%	35.50%
Expected service period (years)	1 year	1 year	1 year
Dividends	$ 0	$ 0	$ 0
Time-based
Shares
Non-vested restricted stock units at the beginning of the year (in shares)	2,603
Granted (in shares)	668
Vested (in shares)	(1,243)
Forfeited (in shares)	(68)
Non-vested restricted stock units at the end of the year (in shares)	1,960	2,603
Weighted Average Fair Value on Grant Date
Non-vested restricted stock at the beginning of the year (in dollars per share)	$ 95.35
Granted (in dollars per share)	113.18
Vested (in dollars per share)	94.86
Forfeited (in dollars per share)	106.08
Non-vested restricted stock at the end of the year (in dollars per share)	$ 99.54	$ 95.35
Market-based restricted shares
Shares
Non-vested restricted stock units at the beginning of the year (in shares)	466
Granted (in shares)	403
Vested (in shares)	(489)
Forfeited (in shares)	(22)
Non-vested restricted stock units at the end of the year (in shares)	358	466
Weighted Average Fair Value on Grant Date
Non-vested restricted stock at the beginning of the year (in dollars per share)	$ 123.72
Granted (in dollars per share)	170.18
Vested (in dollars per share)	125.63
Forfeited (in dollars per share)	138.10
Non-vested restricted stock at the end of the year (in dollars per share)	$ 157.05	$ 123.72
Performance Based Awards
Shares
Non-vested restricted stock units at the beginning of the year (in shares)	3,000
Granted (in shares)	500
Vested (in shares)	(233)
Forfeited (in shares)	(28)
Non-vested restricted stock units at the end of the year (in shares)	3,239	3,000
Weighted Average Fair Value on Grant Date
Non-vested restricted stock at the beginning of the year (in dollars per share)	$ 99.37
Granted (in dollars per share)	125.66
Vested (in dollars per share)	109.64
Forfeited (in dollars per share)	101.49
Non-vested restricted stock at the end of the year (in dollars per share)	$ 119.97	$ 99.37

STOCK-BASED COMPENSATION - EMPLOYEE STOCK PURCHASE PLAN (Details) - 2017 Global Employee Stock Purchase Plan - Employee Stock Purchase Plan - USD ($) $ / shares in Units, shares in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Stock-based compensation
Expected service period (years)	6 months	6 months
Dividends	$ 0	$ 0
Shares reserved for future issuance	9,000
Shares available for issuance	8,817
Employee payroll deduction, minimum	1.00%
Employee payroll deduction, maximum	10.00%
ESPP shares purchased by employees (in shares)	126	57
ESPP shares purchased by employees	$ 10,515,000	$ 5,069,000
Weighted-average fair value of shares purchased by employees (usd per share)	$ 83.25	$ 88.66
Minimum
Stock-based compensation
Risk-free interest rate	1.60%	2.10%
Expected stock price volatility	28.10%	39.10%
Maximum
Stock-based compensation
Risk-free interest rate	2.40%	2.50%
Expected stock price volatility	45.60%	40.00%

SHARE REPURCHASE PROGRAM (Details) - USD ($) $ in Thousands	12 Months Ended
SHARE REPURCHASE PROGRAM (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
SHARE REPURCHASE
Number of shares authorized to be repurchased	14,218,000
Repurchased common stock		$ 362,392	$ 154,792
Common Stock \| Share Repurchase Program
SHARE REPURCHASE
Repurchased common stock (in shares)	0	3,716,000	1,513,000
Repurchased common stock	$ 0	$ 362,429	$ 154,808
Commissions	$ 0	$ 37	$ 16
Shares repurchased under the share repurchase program	10,400,000
Number of shares of common stock remaining available for repurchase under the entity's share repurchase authorization	3,818,000

INTEREST AND OTHER, NET (Details) - USD ($) $ in Thousands	12 Months Ended
INTEREST AND OTHER, NET (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Other Income and Expenses [Abstract]
Interest income	$ 47,341	$ 38,019	$ 21,264
Interest expense	(2,637)	(8,032)	(22,269)
Foreign currency exchange loss	(3,589)	(505)	(3,038)
Other	(2,610)	(3,369)	5,091
Interest and other, net	$ 38,505	$ 26,113	$ 1,048

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	$ 2,040,580	$ 1,488,970	$ 1,003,728
Other comprehensive (loss) income before reclassifications	(20,273)	(25,600)
Amounts reclassified from accumulated other comprehensive (loss) income	(1,689)	3,726
Tax effect on cross-currency swap	775	417	(2,038)
Balance	2,539,244	2,040,580	1,488,970
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(33,090)	(4,287)
Other comprehensive (loss) income before reclassifications	(27,445)	(28,803)
Amounts reclassified from accumulated other comprehensive (loss) income	0	0
Balance	(60,535)	(33,090)	(4,287)
Unrealized gain (loss) on derivative instruments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	600	600
Other comprehensive (loss) income before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive (loss) income	0	0
Balance	600	600	600
Unrealized gain (loss) on cross-currency swap
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(5,285)	(10,191)
Other comprehensive (loss) income before reclassifications	10,504	763
Amounts reclassified from accumulated other comprehensive (loss) income	(1,689)	3,726
Tax effect on cross-currency swap	775	417
Balance	4,305	(5,285)	(10,191)
Unrealized gain (loss) on available- for-sales securities
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	586	(1,854)
Other comprehensive (loss) income before reclassifications	(3,332)	2,440
Amounts reclassified from accumulated other comprehensive (loss) income	0	0
Balance	(2,746)	586	(1,854)
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Balance	(37,189)	(15,732)	(47,142)
Balance	$ (58,376)	$ (37,189)	$ (15,732)

BUSINESS REORGANIZATION (Details)	12 Months Ended
BUSINESS REORGANIZATION (Details)	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2016 USD ($) location
Restructuring Cost and Reserve [Line Items]
Reorganization expenses incurred	$ 83,000	$ (4,958,000)	$ 14,742,000
2018 Plan
Restructuring Cost and Reserve [Line Items]
Reorganization expenses incurred	83,000	972,000	$ 14,742,000
Reorganizing amounts paid	9,502,000
2018 Plan \| Accrued Liabilities
Restructuring Cost and Reserve [Line Items]
Remaining accrual	3,862,000
2018 Plan \| Other long term liabilities
Restructuring Cost and Reserve [Line Items]
Remaining accrual	2,493,000
2016 Plan
Restructuring Cost and Reserve [Line Items]
Reorganization expenses incurred				$ 71,285,000
Reorganizing amounts paid	$ 65,355,000
Remaining accrual		0
Number of locations reorganized \| location				1
Number of locations closed \| location				2
Restructuring cost benefit		$ 5,930,000

SUPPLEMENTARY FINANCIAL INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Mar. 31, 2018
Valuation allowance for deferred income taxes
Movement in valuation and qualifying accounts
Beginning Balance	$ 49,413	$ 195,640	$ 184,085
Additions	44,703	11,850	11,555
Deductions	(7,179)	(107,133)	0
Other	0	(50,944)	0
Ending Balance	86,937	49,413	195,640
Price protection, sales returns and other allowances
Movement in valuation and qualifying accounts
Beginning Balance		53,043	65,114
Additions			59,674
Deductions			(74,936)
Other			3,191
Ending Balance			53,043
Allowance for doubtful accounts
Movement in valuation and qualifying accounts
Beginning Balance	995	1,247	1,369
Additions	0	651	0
Deductions	(547)	0	(122)
Other	(5)	(903)	0
Ending Balance	$ 443	995	1,247
Total accounts receivable allowances
Movement in valuation and qualifying accounts
Beginning Balance		$ 54,290	66,483
Additions			59,674
Deductions			(75,058)
Other			3,191
Ending Balance			$ 54,290

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) (Details) - USD ($)
$ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2020

Mar. 31, 2019

Mar. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Net revenue

$ 760,541

$ 930,129

$ 857,841

$ 540,459

$ 539,007

$ 1,248,738

$ 492,667

$ 387,982

$ 3,088,970

$ 2,668,394

$ 1,792,892

Gross profit

364,901

493,036

389,593

298,990

280,092

350,254

257,787

256,617

1,546,520

1,144,750

894,581

Income from operations

121,884

176,833

74,820

51,730

58,061

51,779

25,986

70,846

425,267

206,672

135,577

Basic earnings per share (in dollars per share)

$ 122,722

$ 163,642

$ 71,815

$ 46,280

$ 56,829

$ 179,948

$ 25,367

$ 71,693

$ 404,459

$ 333,837

^[1]

$ 173,533

^[1]

Earnings per share:

$ 1.08

$ 1.44

$ 0.63

$ 0.41

$ 0.50

$ 1.59

$ 0.22

$ 0.63

$ 3.58

$ 2.95

$ 1.57

Diluted earnings per share (in dollars per share)

$ 1.07

$ 1.43

$ 0.63

$ 0.41

$ 0.50

$ 1.57

$ 0.22

$ 0.62

$ 3.54

$ 2.90

$ 1.54

[1]	Prior period amounts have been adjusted retrospectively to reflect the adoption of ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. Refer to Note 1 for further discussion.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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