Cover
Cover - shares | 3 Months Ended | |
Jun. 30, 2023 | Aug. 04, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 000-17948 | |
Entity Registrant Name | ELECTRONIC ARTS INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 94-2838567 | |
Entity Address, Address Line One | 209 Redwood Shores Parkway | |
Entity Address, City or Town | Redwood City | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 94065 | |
City Area Code | 650 | |
Local Phone Number | 628-1500 | |
Title of 12(b) Security | Common Stock, $0.01 par value | |
Trading Symbol | EA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 270,911,657 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 | |
Current Fiscal Year End Date | --03-31 | |
Entity Central Index Key | 0000712515 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 | |
Current assets: | |||
Cash and cash equivalents | $ 2,259 | $ 2,424 | |
Short-term investments | 343 | 343 | [1] |
Receivables, net | 517 | 684 | [1] |
Other current assets | 455 | 518 | [1] |
Total current assets | 3,574 | 3,969 | [1] |
Property and equipment, net | 545 | 549 | [1] |
Goodwill | 5,381 | 5,380 | [1] |
Acquisition-related intangibles, net | 577 | 618 | [1] |
Deferred income taxes, net | 2,555 | 2,462 | [1] |
Other assets | 451 | 481 | [1] |
TOTAL ASSETS | 13,083 | 13,459 | [1] |
Current liabilities: | |||
Accounts payable | 75 | 99 | [1] |
Accrued and other current liabilities | 1,145 | 1,285 | [1] |
Deferred net revenue (online-enabled games) | 1,580 | 1,901 | [1] |
Total current liabilities | 2,800 | 3,285 | [1] |
Senior notes, net | 1,880 | 1,880 | [1] |
Income tax obligations | 681 | 607 | [1] |
Deferred income taxes, net | 1 | 1 | [1] |
Other liabilities | 387 | 393 | [1] |
TOTAL LIABILITIES | 5,749 | 6,166 | [1] |
Commitments and contingencies (See Note 12) | [1] | ||
Common stock, shares issued | 273,000,000 | ||
Common stock, shares outstanding | 272,000,000 | ||
STOCKHOLDERS' EQUITY: | |||
Commitments and contingencies (See Note 12) | [1] | ||
Common stock, $0.01 par value. 1,000 shares authorized; 272 and 273 shares issued and outstanding, respectively | 3 | 3 | [1] |
Additional paid-in capital | 0 | 0 | [1] |
Retained earnings | 7,406 | 7,357 | [1] |
Accumulated other comprehensive income (loss) | (75) | (67) | [1] |
Total stockholders’ equity | 7,334 | 7,293 | [1] |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 13,083 | $ 13,459 | [1] |
[1]Derived from audited Consolidated Financial Statements. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) | Jun. 30, 2023 $ / shares shares |
Common stock, par value | $ / shares | $ 0.01 |
Common stock, shares authorized | 1,000,000,000 |
Common stock, shares issued | 273,000,000 |
Common stock, shares outstanding | 272,000,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income Statement [Abstract] | ||
Net revenue | $ 1,924 | $ 1,767 |
Cost of revenue | 368 | 314 |
Gross profit | 1,556 | 1,453 |
Operating expenses: | ||
Research and development | 596 | 572 |
Marketing and sales | 229 | 234 |
General and administrative | 163 | 167 |
Amortization of intangibles | 25 | 39 |
Restructuring | 1 | 0 |
Total operating expenses | 1,014 | 1,012 |
Operating income (loss) | 542 | 441 |
Interest and other income (expense), net | 14 | (5) |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 556 | 436 |
Provision for income taxes | 154 | 125 |
Net income (loss) | $ 402 | $ 311 |
Earnings (loss) per share: | ||
Earnings Per Share, Basic | $ 1.48 | $ 1.11 |
Earnings Per Share, Diluted | $ 1.47 | $ 1.11 |
Number of shares used in computation: | ||
Basic | 272 | 279 |
Diluted | 274 | 281 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Net income (loss) | $ 402 | $ 311 |
Other comprehensive income (loss), net of tax: | ||
Net gains (losses) on available-for-sale securities | 0 | (1) |
Net gains (losses) on derivative instruments | (15) | 90 |
Foreign currency translation adjustments | 7 | (33) |
Total other comprehensive income (loss), net of tax | (8) | 56 |
Total comprehensive income (loss) | $ 394 | $ 367 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
OPERATING ACTIVITIES | ||
Net income (loss) | $ 402 | $ 311 |
Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
Depreciation, amortization and accretion | 88 | 114 |
Stock-based compensation | 130 | 125 |
Change in assets and liabilities: | ||
Receivables, net | 167 | 70 |
Other assets | 96 | (15) |
Accounts payable | (18) | (16) |
Accrued and other liabilities | (92) | (105) |
Deferred income taxes, net | (93) | (86) |
Deferred net revenue (online-enabled games) | (321) | (476) |
Net Cash Provided by (Used in) Operating Activities, Total | 359 | (78) |
INVESTING ACTIVITIES | ||
Capital expenditures | (45) | (59) |
Proceeds from maturities and sales of short-term investments | 151 | 87 |
Purchase of short-term investments | (150) | (93) |
Net Cash Provided by (Used in) Investing Activities, Total | (44) | (65) |
FINANCING ACTIVITIES | ||
Proceeds from issuance of common stock | 0 | 1 |
Payments of Dividends | (52) | (53) |
Cash paid to taxing authorities for shares withheld from employees | (105) | (104) |
Repurchase and retirement of common stock | (325) | (320) |
Net Cash Provided by (Used in) Financing Activities | (482) | (476) |
Effect of foreign exchange on cash and cash equivalents | 2 | (31) |
Increase (decrease) in cash and cash equivalents | (165) | (650) |
Beginning cash and cash equivalents | 2,424 | 2,732 |
Ending cash and cash equivalents | 2,259 | 2,082 |
Supplemental cash flow information: | ||
Cash paid during the period for income taxes, net | $ 23 | $ 36 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity Statement - 3 months ended Jun. 30, 2023 - USD ($) shares in Thousands, $ in Millions | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (loss) | |
Beginning balance (in shares) at Mar. 31, 2023 | 272,914 | |||||
Beginning balance at Mar. 31, 2023 | $ 7,293 | [1] | $ 3 | $ 0 | $ 7,357 | $ (67) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $ 394 | |||||
Stock Repurchased and Retired During Period, Shares | (2,600) | |||||
Stock Repurchased and Retired During Period, Value | $ (325) | |||||
Common Stock, Dividends, Per Share, Declared | $ 0.19 | |||||
Ending balance (in shares) at Jun. 30, 2023 | 272,000 | |||||
Ending balance at Jun. 30, 2023 | $ 7,334 | |||||
[1]Derived from audited Consolidated Financial Statements. |
Description Of Business And Bas
Description Of Business And Basis Of Presentation | 3 Months Ended |
Jun. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Description and Accounting Policies | (1) DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Electronic Arts is a global leader in digital interactive entertainment. We develop, market, publish and deliver games, content and services that can be experienced on game consoles, PCs, mobile phones and tablets. At our core is a portfolio of intellectual property from which we create innovative games and experiences that deliver high-quality entertainment and drive engagement across our network of hundreds of millions of unique active accounts. Our portfolio includes brands that we either wholly own (such as Apex Legends , Battlefield, and The Sims) or license from others (such as Madden NFL, Star Wars, and the 300+ licenses within our global football ecosystem). Through our live services offerings, we offer high-quality experiences designed to provide value to players, and extend and enhance gameplay. These live services include extra content, subscription offerings and other revenue generated in addition to the sale of our base games. We are focusing on building games and experiences that grow the global online communities around our key franchises; reaching more players through connecting interactive storytelling to key intellectual property; and building re-occurring revenue from our annualized sports franchises, our console, PC and mobile catalog titles, and our live services. Our fiscal year is reported on a 52- or 53-week period that ends on the Saturday nearest March 31. Our results of operations for the fiscal year ending March 31, 2024 contains 52 weeks and ends on March 30, 2024. Our results of operations for the fiscal year ended March 31, 2023 contained 52 weeks and ended on April 1, 2023. Our results of operations for the three months ended June 30, 2023 contained 13 weeks and ended on July 1, 2023. Our results of operations for the three months ended June 30, 2022 contained 13 weeks and ended on July 2, 2022. For simplicity of disclosure, all fiscal periods are referred to as ending on a calendar month end. The Condensed Consolidated Financial Statements are unaudited and reflect all adjustments (consisting only of normal recurring accruals unless otherwise indicated) that, in the opinion of management, are necessary for a fair presentation of the results for the interim periods presented. The preparation of these Condensed Consolidated Financial Statements requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. Actual results could differ materially from those estimates. The results of operations for the current interim periods are not necessarily indicative of results to be expected for the current year or any other period. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and Notes thereto included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, as filed with the United States Securities and Exchange Commission (“SEC”) on May 24, 2023. |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Jun. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | (2) FAIR VALUE MEASUREMENTS There are various valuation techniques used to estimate fair value, the primary one being the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining fair value, we consider the principal or most advantageous market in which we would transact and consider assumptions that market participants would use when pricing the asset or liability. We measure certain financial and nonfinancial assets and liabilities at fair value on a recurring and nonrecurring basis. Fair Value Hierarchy The three levels of inputs that may be 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 within Level 1, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated with observable market data for substantially the full term of the assets or liabilities. • Level 3 . Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. Assets and Liabilities Measured at Fair Value on a Recurring Basis As of June 30, 2023 and March 31, 2023, our assets and liabilities that were measured and recorded at fair value on a recurring basis were as follows (in millions): Fair Value Measurements at Reporting Date Using As of June 30, 2023 Quoted Prices in Significant Significant Balance Sheet (Level 1) (Level 2) (Level 3) Assets Bank and time deposits $ 57 $ 57 $ — $ — Cash equivalents Money market funds 629 629 — — Cash equivalents Available-for-sale securities: Corporate bonds 97 — 97 — Short-term investments U.S. Treasury securities 96 96 — — Short-term investments U.S. agency securities 24 — 24 — Short-term investments Commercial paper 71 — 71 — Short-term investments and cash equivalents Foreign government securities 10 — 10 — Short-term investments Asset-backed securities 38 — 38 — Short-term investments Certificates of deposit 15 — 15 — Short-term investments Foreign currency derivatives 27 — 27 — Other current assets and other assets Deferred compensation plan assets (a) 25 25 — — Other assets Total assets at fair value $ 1,089 $ 807 $ 282 $ — Liabilities Foreign currency derivatives $ 53 $ — $ 53 $ — Accrued and other current liabilities and other liabilities Deferred compensation plan liabilities (a) 26 26 — — Other liabilities Total liabilities at fair value $ 79 $ 26 $ 53 $ — Fair Value Measurements at Reporting Date Using As of March 31, 2023 Quoted Prices in Significant Significant Balance Sheet (Level 1) (Level 2) (Level 3) Assets Bank and time deposits $ 56 $ 56 $ — $ — Cash equivalents Money market funds 956 956 — — Cash equivalents Available-for-sale securities: Corporate bonds 113 — 113 — Short-term investments U.S. Treasury securities 80 80 — — Short-term investments U.S. agency securities 28 — 28 — Short-term investments and cash equivalents Commercial paper 66 — 66 — Short-term investments and cash equivalents Foreign government securities 11 — 11 — Short-term investments Asset-backed securities 37 — 37 — Short-term investments Certificates of deposit 14 — 14 — Short-term investments Foreign currency derivatives 29 — 29 — Other current assets and other assets Deferred compensation plan assets (a) 23 23 — — Other assets Total assets at fair value $ 1,413 $ 1,115 $ 298 $ — Liabilities Foreign currency derivatives $ 65 $ — $ 65 $ — Accrued and other current liabilities and other liabilities Deferred compensation plan liabilities (a) 24 24 — — Other liabilities Total liabilities at fair value $ 89 $ 24 $ 65 $ — (a) The Deferred Compensation Plan consists of various mutual funds. See Note 15 in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, for additional information regarding our Deferred Compensation Plan. |
Financial Instruments
Financial Instruments | 3 Months Ended |
Jun. 30, 2023 | |
Financial Instruments [Abstract] | |
Financial Instruments | (3) FINANCIAL INSTRUMENTS Cash and Cash Equivalents As of June 30, 2023 and March 31, 2023, our cash and cash equivalents were $2,259 million and $2,424 million, respectively. Cash equivalents were valued using quoted market prices or other readily available market information. Short-Term Investments Short-term investments consisted of the following as of June 30, 2023 and March 31, 2023 (in millions): As of June 30, 2023 As of March 31, 2023 Cost or Gross Unrealized Fair Cost or Gross Unrealized Fair Gains Losses Gains Losses Corporate bonds $ 98 $ — $ (1) $ 97 $ 114 $ — $ (1) $ 113 U.S. Treasury securities 96 — — 96 80 — — 80 U.S. agency securities 24 — — 24 25 — — 25 Commercial paper 63 — — 63 63 — — 63 Foreign government securities 10 — — 10 11 — — 11 Asset-backed securities 38 — — 38 37 — — 37 Certificates of deposit 15 — — 15 14 — — 14 Short-term investments $ 344 $ — $ (1) $ 343 $ 344 $ — $ (1) $ 343 The following table summarizes the amortized cost and fair value of our short-term investments, classified by stated maturity as of June 30, 2023 and March 31, 2023 (in millions): As of June 30, 2023 As of March 31, 2023 Amortized Fair Amortized Fair Short-term investments Due within 1 year $ 275 $ 274 $ 267 $ 266 Due 1 year through 5 years 65 65 72 72 Due after 5 years 4 4 5 5 Short-term investments $ 344 $ 343 $ 344 $ 343 |
Derivative Financial Instrument
Derivative Financial Instruments | 3 Months Ended |
Jun. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | (4) DERIVATIVE FINANCIAL INSTRUMENTS Assets or liabilities associated with our derivative instruments and hedging activities are recorded at fair value in other current assets/other assets, or accrued and other current liabilities/other liabilities, respectively, on our Condensed Consolidated Balance Sheets. As discussed below, the accounting for gains and losses resulting from changes in fair value depends on the use of the derivative instrument and whether it is designated and qualifies for hedge accounting. We transact business in various foreign currencies and have significant international sales and expenses denominated in foreign currencies, subjecting us to foreign currency risk. We purchase foreign currency forward contracts, generally with maturities of 18 months or less, to reduce the volatility of cash flows primarily related to forecasted revenue and expenses denominated in certain foreign currencies. Our cash flow risks are primarily related to fluctuations in the Euro, British pound sterling, Canadian dollar, Swedish krona, Australian dollar, Japanese yen, Chinese yuan, South Korean won and Polish zloty. In addition, we utilize foreign currency forward contracts to mitigate foreign currency exchange risk associated with foreign-currency-denominated monetary assets and liabilities, primarily intercompany receivables and payables. The foreign currency forward contracts not designated as hedging instruments generally have a contractual term of approximately three months or less and are transacted near month-end. We do not use foreign currency forward contracts for speculative trading purposes. Cash Flow Hedging Activities Certain of our forward contracts are designated and qualify as cash flow hedges. To qualify for hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedges and must be highly effective in offsetting changes to future cash flows on hedged transactions. The derivative assets or liabilities associated with our hedging activities are recorded at fair value in other current assets/other assets, or accrued and other current liabilities/other liabilities, respectively, on our Condensed Consolidated Balance Sheets. The gains or losses resulting from changes in the fair value of these hedges is initially reported, net of tax, as a component of accumulated other comprehensive income (loss) in stockholders’ equity. The gains or losses resulting from changes in the fair value of these hedges are subsequently reclassified into net revenue or research and development expenses, as appropriate, in the period when the forecasted transaction is recognized in our Condensed Consolidated Statements of Operations. In the event that the underlying forecasted transactions do not occur, or it becomes remote that they will occur within the defined hedge period, the gains or losses on the related cash flow hedges are reclassified from accumulated other comprehensive income (loss) to net revenue or research and development expenses, in our Condensed Consolidated Statements of Operations.Total gross notional amounts and fair values for currency derivatives with cash flow hedge accounting designation are as follows (in millions): As of June 30, 2023 As of March 31, 2023 Notional Amount Fair Value Notional Amount Fair Value Asset Liability Asset Liability Forward contracts to purchase $ 257 $ 3 $ 4 $ 371 $ 2 $ 9 Forward contracts to sell $ 1,830 $ 23 $ 45 $ 2,255 $ 23 $ 46 The effects of cash flow hedge accounting in our Condensed Consolidated Statements of Operations for the three months ended June 30, 2023 and 2022 are as follows (in millions): Three Months Ended June 30, 2023 2022 Net revenue Research and development Net revenue Research and development Total amounts presented in our Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded $ 1,924 $ 596 $ 1,767 $ 572 Gains (losses) on foreign currency forward contracts designated as cash flow hedges $ 30 $ (5) $ 19 $ (3) Balance Sheet Hedging Activities Our foreign currency forward contracts that are not designated as hedging instruments are accounted for as derivatives whereby the fair value of the contracts are reported as other current assets or accrued and other current liabilities on our Condensed Consolidated Balance Sheets, and gains and losses resulting from changes in the fair value are reported in interest and other income (expense), net, in our Condensed Consolidated Statements of Operations. The gains and losses on these foreign currency forward contracts generally offset the gains and losses in the underlying foreign-currency-denominated monetary assets and liabilities, which are also reported in interest and other income (expense), net, in our Condensed Consolidated Statements of Operations. Total gross notional amounts and fair values for currency derivatives that are not designated as hedging instruments are accounted for as follows (in millions): As of June 30, 2023 As of March 31, 2023 Notional Amount Fair Value Notional Amount Fair Value Asset Liability Asset Liability Forward contracts to purchase $ 447 $ — $ 2 $ 504 $ 4 $ — Forward contracts to sell $ 568 $ 1 $ 2 $ 587 $ — $ 10 The effect of foreign currency forward contracts not designated as hedging instruments in our Condensed Consolidated Statements of Operations for the three months ended June 30, 2023 and 2022 was as follows (in millions): Three Months Ended 2023 2022 Interest and other income (expense), net Total amounts presented in our Condensed Consolidated Statements of Operations in which the effects of balance sheet hedges are recorded $ 14 $ (5) Gains (losses) on foreign currency forward contracts not designated as hedging instruments $ 3 $ 13 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Jun. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | (5) ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended June 30, 2023 and 2022 are as follows (in millions): Unrealized Net Gains (Losses) on Available-for-Sale Securities Unrealized Net Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balances as of March 31, 2023 $ (1) $ 13 $ (79) $ (67) Other comprehensive income (loss) before reclassifications — 10 7 17 Amounts reclassified from accumulated other comprehensive income (loss) — (25) — (25) Total other comprehensive income (loss), net of tax — (15) 7 (8) Balances as of June 30, 2023 $ (1) $ (2) $ (72) $ (75) Unrealized Net Gains (Losses) on Available-for-Sale Securities Unrealized Net Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balances as of March 31, 2022 $ (3) $ 47 $ (29) $ 15 Other comprehensive income (loss) before reclassifications (1) 106 (33) 72 Amounts reclassified from accumulated other comprehensive income (loss) — (16) — (16) Total other comprehensive income (loss), net of tax (1) 90 (33) 56 Balances as of June 30, 2022 $ (4) $ 137 $ (62) $ 71 |
Goodwill And Acquisition-Relate
Goodwill And Acquisition-Related Intangibles, Net | 3 Months Ended |
Jun. 30, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Acquisition-Related Intangibles, Net | (6) GOODWILL AND ACQUISITION-RELATED INTANGIBLES, NET The changes in the carrying amount of goodwill for the three months ended June 30, 2023 are as follows (in millions): As of March 31, 2023 Activity Effects of Foreign Currency Translation As of June 30, 2023 Goodwill $ 5,748 $ — $ 1 $ 5,749 Accumulated impairment (368) — — (368) Total $ 5,380 $ — $ 1 $ 5,381 Acquisition-related intangibles consisted of the following (in millions): As of June 30, 2023 As of March 31, 2023 Gross Accumulated Acquisition- Gross Accumulated Acquisition- Finite-lived acquisition-related intangibles Developed and core technology $ 1,051 $ (775) $ 276 $ 1,051 $ (754) $ 297 Trade names and trademarks 596 (302) 294 596 (285) 311 Registered user base and other intangibles 56 (53) 3 56 (50) 6 Total finite-lived acquisition-related intangibles $ 1,703 $ (1,130) $ 573 $ 1,703 $ (1,089) $ 614 Indefinite-lived acquisition-related intangibles In-process research and development $ 4 $ — $ 4 $ 4 $ — $ 4 Total acquisition-related intangibles, net $ 1,707 $ (1,130) $ 577 $ 1,707 $ (1,089) $ 618 Amortization of intangibles for the three months ended June 30, 2023 and 2022 are classified in the Condensed Consolidated Statements of Operations as follows (in millions): Three Months Ended 2023 2022 Cost of revenue $ 16 $ 30 Operating expenses 25 39 Total $ 41 $ 69 During the three months ended June 30, 2023 and 2022, there were no impairment charges for acquisition-related intangible assets. Acquisition-related intangible assets are generally amortized using the straight-line method over the lesser of their estimated useful lives or the agreement terms, currently ranging from 2 to 7 years. As of June 30, 2023 and March 31, 2023, the weighted-average remaining useful life for acquisition-related intangible assets was approximately 4.7 and 4.8 years, respectively. As of June 30, 2023, future amortization of finite-lived acquisition-related intangibles that will be recorded in the Condensed Consolidated Statements of Operations is estimated as follows (in millions): Fiscal Year Ending March 31, 2024 (remaining nine months) $ 109 2025 122 2026 118 2027 99 2028 96 2029 29 Total $ 573 |
Royalties And Licenses
Royalties And Licenses | 3 Months Ended |
Jun. 30, 2023 | |
Royalties And Licenses [Abstract] | |
Royalties And Licenses | (8) ROYALTIES AND LICENSES Our royalty expenses consist of payments to (1) content licensors, (2) independent software developers, and (3) co-publishing and distribution affiliates. Content license royalties consist of payments made to celebrities, professional sports organizations, movie studios and other organizations for our use of their trademarks, copyrights, personal publicity rights, content and/or other intellectual property. Royalty payments to independent software developers are payments for the development of intellectual property related to our games. Co-publishing and distribution royalties are payments made to third parties for the delivery of products. During the three months ended June 30, 2023 and 2022, we did not recognize any material losses or impairment charges on royalty-based commitments. The current and long-term portions of prepaid royalties and minimum guaranteed royalty-related assets, included in other current assets and other assets, consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Other current assets $ 92 $ 105 Other assets 33 31 Royalty-related assets $ 125 $ 136 At any given time, depending on the timing of our payments to our co-publishing and/or distribution affiliates, content licensors, and/or independent software developers, we classify any recognized unpaid royalty amounts due to these parties as accrued liabilities. The current and long-term portions of accrued royalties, included in accrued and other current liabilities and other liabilities, consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Accrued and other current liabilities $ 211 $ 208 Other liabilities 3 — Royalty-related liabilities $ 214 $ 208 As of June 30, 2023, we were committed to pay approximately $2,438 million to content licensors, independent software developers, and co-publishing and/or distribution affiliates, but performance remained with the counterparty (i.e., delivery of the product or content or other factors) and such commitments were therefore not recorded in our Condensed Consolidated Financial Statements. See Note 12 for further information on our developer and licensor commitments. |
Balance Sheet Details
Balance Sheet Details | 3 Months Ended |
Jun. 30, 2023 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Details | (9) BALANCE SHEET DETAILS Property and Equipment, Net Property and equipment, net, as of June 30, 2023 and March 31, 2023 consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Computer, equipment and software $ 912 $ 892 Buildings 373 369 Leasehold improvements 189 186 Equipment, furniture and fixtures, and other 93 92 Land 66 66 Construction in progress 18 11 1,651 1,616 Less: accumulated depreciation (1,106) (1,067) Property and equipment, net $ 545 $ 549 Depreciation expense associated with property and equipment was $49 million and $44 million for the three months ended June 30, 2023 and 2022, respectively. Accrued and Other Current Liabilities Accrued and other current liabilities as of June 30, 2023 and March 31, 2023 consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Accrued compensation and benefits $ 311 $ 436 Accrued royalties 211 208 Deferred net revenue (other) 75 103 Operating lease liabilities 68 66 Other accrued expenses 409 382 Sales returns and price protection reserves 71 90 Accrued and other current liabilities $ 1,145 $ 1,285 Deferred net revenue (other) includes the deferral of licensing arrangements, subscription revenue, and other revenue for which revenue recognition criteria has not been met. Deferred net revenue Deferred net revenue as of June 30, 2023 and March 31, 2023 consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Deferred net revenue (online-enabled games) $ 1,580 $ 1,901 Deferred net revenue (other) 75 103 Deferred net revenue (noncurrent) 63 67 Total deferred net revenue $ 1,718 $ 2,071 During the three months ended June 30, 2023 and 2022, we recognized $1,124 million and $1,240 million of revenue, respectively, that were included in the deferred net revenue balance at the beginning of the period. Remaining Performance Obligations As of June 30, 2023, revenue allocated to remaining performance obligations consists of our deferred revenue balance of $1,718 million. These balances exclude any estimates for future variable consideration as we have elected the optional exemption to exclude sales-based royalty revenue. We expect to recognize substantially all of the current portion of deferred net revenue as revenue over the next 12 months. |
Income Taxes
Income Taxes | 3 Months Ended |
Jun. 30, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | (10) INCOME TAXES The provision for income taxes for the three months ended June 30, 2023 is based on our projected annual effective tax rate for fiscal year 2024, adjusted for specific items that are required to be recognized in the period in which they are incurred. Our effective tax rate for the three months ended June 30, 2023 was 28 percent, as compared to 29 percent for the same period in fiscal year 2023. The rate for the three months ended June 30, 2023 was lower than the same period in the prior year due to a higher proportion of non-U.S. income in jurisdictions with lower tax rates. We are subject to income tax examinations in various jurisdictions with respect to fiscal years after 2013. The timing and potential resolution of income tax examinations is highly uncertain. The gross unrecognized tax benefits as of June 30, 2023 were $942 million. While we continue to measure our uncertain tax positions, the amounts ultimately paid, if any, upon resolution of the issues raised by the taxing authorities may differ materially from the amounts accrued. For example, in the period ended June 30, 2020, the decision of the Ninth Circuit Court of Appeals in Altera Corp. v Commissioner (“the Altera opinion”) resulted in a partial decrease of our unrecognized tax benefits. A complete resolution and settlement of the matters underlying the Altera opinion is reasonably possible within the next 12 months, which would result in an additional reduction of our gross |
Financing Arrangement
Financing Arrangement | 3 Months Ended |
Jun. 30, 2023 | |
Debt Instruments [Abstract] | |
Financing Arrangement | (11) FINANCING ARRANGEMENTS Senior Notes In February 2021, we issued $750 million aggregate principal amount of 1.85% Senior Notes due February 15, 2031 (the “2031 Notes”) and $750 million aggregate principal amount of 2.95% Senior Notes due February 15, 2051 (the “2051 Notes”). Our proceeds were $1,478 million, net of discount of $6 million and issuance costs of $16 million. Both the discount and issuance costs are being amortized to interest expense over the respective terms of the 2031 Notes and the 2051 Notes using the effective interest rate method. The effective interest rate is 1.98% for the 2031 Notes and 3.04% for the 2051 Notes. Interest is payable semiannually in arrears, on February 15 and August 15 of each year. In February 2016, we issued $400 million aggregate principal amount of 4.80% Senior Notes due March 1, 2026 (the “2026 Notes”). Our proceeds were $395 million, net of discount of $1 million and issuance costs of $4 million. Both the discount and issuance costs are being amortized to interest expense over the term of the 2026 Notes using the effective interest rate method. The effective interest rate was 4.97%. Interest is payable semiannually in arrears, on March 1 and September 1 of each year. The carrying and fair values of the Senior Notes are as follows (in millions): As of June 30, 2023 As of March 31, 2023 Senior Notes: 4.80% Senior Notes due 2026 $ 400 $ 400 1.85% Senior Notes due 2031 750 750 2.95% Senior Notes due 2051 750 750 Total principal amount $ 1,900 $ 1,900 Unaccreted discount (6) (6) Unamortized debt issuance costs (14) (14) Net carrying value of Senior Notes $ 1,880 $ 1,880 Fair value of Senior Notes (Level 2) $ 1,510 $ 1,540 As of June 30, 2023, the remaining life of the 2026 Notes, 2031 Notes and 2051 Notes is approximately 2.7 years, 7.6 years, and 27.6 years, respectively. The Senior Notes are senior unsecured obligations and rank equally with all our other existing and future unsubordinated obligations and any indebtedness that we may incur from time to time under our Credit Facility. The 2026 Notes, 2031 Notes and 2051 Notes are redeemable at our option at any time prior to December 1, 2025, November 15, 2030, and August 15, 2050, respectively, subject to a make-whole premium. After such dates, we may redeem each such series of Notes, respectively, at a redemption price equal to 100% of the aggregate principal amount plus accrued and unpaid interest. In addition, upon the occurrence of a change of control repurchase event, the holders of each such series of Notes may require us to repurchase all or a portion of these Notes, at a price equal to 101% of their principal amount, plus accrued and unpaid interest to the date of repurchase. Each such series of Notes also include covenants that limit our ability to incur liens on assets and to enter into sale and leaseback transactions, subject to certain allowances. Credit Facility On March 22, 2023, we entered into a $500 million unsecured revolving credit facility (the “Credit Facility") with a syndicate of banks. The Credit Facility terminates on March 22, 2028 unless the maturity is extended in accordance with its terms. The Credit Facility contains an option to arrange with existing lenders and/or new lenders to provide up to an aggregate of $500 million in additional commitments for revolving loans. Proceeds of loans made under the Credit Facility may be used for general corporate purposes. The loans denominated in U.S. dollars bear interest, at our option, at the base rate plus an applicable spread or at a forward-looking term rate based upon the secured overnight financing rate plus a credit spread adjustment of 0.10% per annum (the “Adjusted Term SOFR Rate”) plus an applicable spread, in each case with such spread based on our debt credit ratings. We are also obligated to pay other customary fees for a credit facility of this size and type. Interest is due and payable in arrears quarterly for loans bearing interest at the base rate and at the end of an interest period in the case of loans bearing interest at the Adjusted Term SOFR Rate. Principal, together with all accrued and unpaid interest, is due and payable on the maturity date, as such date may be extended in connection with the extension option. We may prepay the loans and terminate the commitments, in whole or in part, at any time without premium or penalty, subject to certain conditions. The Credit Facility contains customary affirmative and negative covenants, including covenants that limit or restrict our ability to, among other things, incur subsidiary indebtedness, grant liens, and dispose of all or substantially all assets, in each case subject to customary exceptions for a credit facility of this size and type. We are also required to maintain compliance with a debt to EBITDA ratio. As of June 30, 2023, we were in compliance with the debt to EBITDA ratio. The Credit Facility contains customary events of default, including among others, non-payment defaults, covenant defaults, cross-defaults to material indebtedness, bankruptcy and insolvency defaults, material judgment defaults and a change of control default, in each case, subject to customary exceptions for a credit facility of this size and type. The occurrence of an event of default could result in the acceleration of the obligations under the Credit Facility and an increase in the applicable interest rate. As of June 30, 2023, no amounts were outstanding under the Credit Facility. $2 million of debt issuance costs that were paid in connection with obtaining this credit facility are being amortized to interest expense over the 5-year term of the Credit Facility. Interest Expense The following table summarizes our interest expense recognized for the three months ended June 30, 2023 and 2022 that is included in interest and other income (expense), net on our Condensed Consolidated Statements of Operations (in millions): Three Months Ended 2023 2022 Amortization of debt issuance costs $ (1) $ — Coupon interest expense (14) (14) Total interest expense $ (15) $ (14) |
Commitments And Contingencies
Commitments And Contingencies | 3 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | (12) COMMITMENTS AND CONTINGENCIES Development, Celebrity, Professional Sports Organizations and Content Licenses: Payments and Commitments The products we produce in our studios are designed and created by our employee designers, artists, software programmers and by non-employee software developers (“independent artists” or “third-party developers”). We typically advance development funds to the independent artists and third-party developers during development of our games, usually in installment payments made upon the completion of specified development milestones. Contractually, these payments are generally considered advances against subsequent royalties on the sales of the products. These terms are set forth in written agreements entered into with the independent artists and third-party developers. In addition, we have certain celebrity, professional sports organizations and content license contracts that contain minimum guarantee payments and marketing commitments to promote the games we publish that may not be dependent on any deliverables. These developer and content license commitments represent the sum of (1) the cash payments due under non-royalty-bearing licenses and services agreements and (2) the minimum guaranteed payments and advances against royalties due under royalty-bearing licenses and services agreements, the majority of which are conditional upon performance by the counterparty. These minimum guarantee payments and any related marketing commitments are included in the table below. The following table summarizes our minimum contractual obligations as of June 30, 2023 (in millions): Fiscal Years Ending March 31, 2024 (Remaining Total nine mos.) 2025 2026 2027 2028 2029 Thereafter Unrecognized commitments Developer/licensor commitments $ 2,438 $ 294 $ 484 $ 520 $ 477 $ 226 $ 207 $ 230 Marketing commitments 1,533 173 247 311 269 171 111 251 Senior Notes interest 767 35 55 54 36 36 36 515 Operating lease imputed interest 41 8 8 6 5 4 3 7 Operating leases not yet commenced (a) 100 — 3 8 8 8 8 65 Other purchase obligations 598 212 213 143 29 1 — — Total unrecognized commitments 5,477 722 1,010 1,042 824 446 365 1,068 Recognized commitments Senior Notes principal and interest 1,920 20 — 400 — — — 1,500 Operating leases 337 51 62 51 37 29 19 88 Transition Tax and other taxes 17 4 6 7 — — — — Total recognized commitments 2,274 75 68 458 37 29 19 1,588 Total Commitments $ 7,751 $ 797 $ 1,078 $ 1,500 $ 861 $ 475 $ 384 $ 2,656 (a) As of June 30, 2023, we have entered into an office lease that has not yet commenced with aggregate future lease payments of approximately $100 million. This lease is expected to commence in fiscal year 2024, and will have a lease term of 12 years. The unrecognized amounts represented in the table above reflect our minimum cash obligations for the respective fiscal years, but do not necessarily represent the periods in which they will be recognized and expensed in our Condensed Consolidated Financial Statements. In addition, the amounts in the table above are presented based on the dates the amounts are contractually due as of June 30, 2023; however, certain payment obligations may be accelerated depending on the performance of our operating results. In addition to the amounts included in the table above, as of June 30, 2023, we had a net liability for unrecognized tax benefits and an accrual for the payment of related interest totaling $668 million, of which we are unable to make a reasonably reliable estimate of when cash settlement with a taxing authority will occur. Legal Proceedings We are subject to claims and litigation arising in the ordinary course of business. We do not believe that any liability from any reasonably foreseeable disposition of such claims and litigation, individually or in the aggregate, would have a material adverse effect on our Condensed Consolidated Financial Statements. |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Jun. 30, 2023 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | |
Stock-Based Compensation | (13) STOCK-BASED COMPENSATION Valuation Assumptions We recognize compensation cost for stock-based awards to employees based on the awards’ estimated grant-date fair value using a straight-line approach over the service period for which such awards are expected to vest. We account for forfeitures as they occur. The estimation of the fair value of market-based restricted stock units, stock options and ESPP purchase rights is affected by assumptions regarding subjective and complex variables. Generally, our assumptions are based on historical information and judgment is required to determine if historical trends may be indicators of future outcomes. We estimate the fair value of our stock-based awards as follows: • Restricted Stock Units and Performance-Based Restricted Stock Units . The fair value of restricted stock units and performance-based restricted stock units (other than market-based restricted stock units) is determined based on the quoted market price of our common stock on the date of grant. • Market-Based Restricted Stock Units . Market-based restricted stock units consist of grants of performance-based restricted stock units to certain members of executive management that vest contingent upon the achievement of pre-determined market and service conditions (referred to herein as “market-based restricted stock units”). The fair value of our market-based restricted stock units is estimated using a Monte-Carlo simulation model. Key assumptions for the Monte-Carlo simulation model are the risk-free interest rate, expected volatility, expected dividends and correlation coefficient. • Stock Options and Employee Stock Purchase Plan . The fair value of stock options and stock purchase rights granted pursuant to our equity incentive plans and our 2000 Employee Stock Purchase Plan, as amended (“ESPP”), respectively, is estimated using the Black-Scholes valuation model based on the multiple-award valuation method. 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. An expected term is estimated based on historical exercise behavior, post-vesting termination patterns, options outstanding and future expected exercise behavior. There were no ESPP shares issued during the three months ended June 30, 2023 and 2022. There were an insignificant number of stock options granted during the three months ended June 30, 2023 and 2022. The assumptions used in the Monte-Carlo simulation model to value our market-based restricted stock units were as follows: Three Months Ended 2023 2022 Risk-free interest rate 4.4 % 3.3 % Expected volatility 25 - 59% 33 - 56% Weighted-average volatility 39 % 43 % Expected dividends None None Stock Options The following table summarizes our stock option activity for the three months ended June 30, 2023: Options Weighted- Weighted- Aggregate Outstanding as of March 31, 2023 121 $ 40.43 Granted 1 127.42 Exercised (2) 90.77 Outstanding as of June 30, 2023 120 $ 40.21 1.63 $ 11 Vested and expected to vest 120 $ 40.21 1.63 $ 11 Exercisable as of June 30, 2023 120 $ 40.21 1.63 $ 11 The aggregate intrinsic value represents the total pre-tax intrinsic value based on our closing stock price as of June 30, 2023, which would have been received by the option holders had all the option holders exercised their options as of that date. We issue new common stock from our authorized shares upon the exercise of stock options. Restricted Stock Units The following table summarizes our restricted stock units activity for the three months ended June 30, 2023: Restricted Weighted- Outstanding as of March 31, 2023 7,502 $ 128.54 Granted 3,838 128.56 Vested (2,150) 130.19 Forfeited or cancelled (269) 129.97 Outstanding as of June 30, 2023 8,921 $ 128.11 Performance-Based Restricted Stock Units Our performance-based restricted stock units vest upon the achievement of pre-determined performance-based milestones, including, but not limited to, management reporting milestones of net bookings and operating income metrics, as well as service conditions. If these performance-based milestones are not met but service conditions are met, the performance-based restricted stock units will not vest, in which case any compensation expense we have recognized to date will be reversed. Generally, the measurement periods of our performance-based restricted stock units are 3 to 4 years, with awards vesting after each annual measurement period or cliff-vesting after the completion of the total aggregate measurement period. Each quarter, we update our assessment of the probability that the performance milestones will be achieved. We amortize the fair values of performance-based restricted stock units over the requisite service period. The performance-based restricted stock units contain threshold, target and maximum milestones for each performance-based milestone. The number of shares of common stock to be issued at vesting will range from zero to 200 percent of the target number of performance-based restricted stock units attributable to each performance-based milestone based on the company’s performance as compared to these threshold, target and maximum performance-based milestones. Each performance-based milestone is weighted evenly and the number of shares that vest based on each performance-based milestone is independent from the other. The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the three months ended June 30, 2023: Performance- Weighted- Outstanding as of March 31, 2023 557 $ 130.03 Granted 682 128.66 Vested (73) 127.98 Forfeited or cancelled (242) 128.77 Outstanding as of June 30, 2023 924 $ 129.51 Market-Based Restricted Stock Units Our market-based restricted stock units vest contingent upon the achievement of pre-determined market and service conditions. If these market conditions are not met but service conditions are met, the market-based restricted stock units will not vest; however, any compensation expense we have recognized to date will not be reversed. The number of shares of common stock to be issued at vesting will range from zero to 200 percent of the target number of market-based restricted stock units based on our total stockholder return (“TSR”) relative to the performance of companies in the Nasdaq-100 Index for each measurement period, over either a two-year and four-year cumulative period or a three-year period. The following table summarizes our market-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the three months ended June 30, 2023: Market-Based Weighted- Outstanding as of March 31, 2023 822 $ 149.98 Granted 143 152.92 Vested (17) 145.78 Forfeited or cancelled (445) 148.09 Outstanding as of June 30, 2023 503 $ 152.63 Stock-Based Compensation Expense The following table summarizes stock-based compensation expense resulting from stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and the ESPP purchase rights included in our Condensed Consolidated Statements of Operations (in millions): Three Months Ended 2023 2022 Cost of revenue $ 2 $ 2 Research and development 93 81 Marketing and sales 11 13 General and administrative 24 29 Stock-based compensation expense $ 130 $ 125 During the three months ended June 30, 2023 and June 30, 2022, we recognized $29 million and $21 million, respectively, of deferred income tax benefit related to our stock-based compensation expense. As of June 30, 2023, our total unrecognized compensation cost related to stock options, restricted stock units, market-based restricted stock units, and performance-based restricted stock units was $1,114 million and is expected to be recognized over a weighted-average service period of 2.2 years. Of the $1,114 million of unrecognized compensation cost, $1,051 million relates to restricted stock units, $42 million relates to performance-based restricted stock units, $21 million relates to market-based restricted stock units. Stock Repurchase Program In November 2020, our Board of Directors authorized a program to repurchase up to $2.6 billion of our common stock. We completed repurchases under the November 2020 program in October 2022. In August 2022, our Board of Directors authorized a program to repurchase up to $2.6 billion of our common stock. This stock repurchase program expires on November 4, 2024. Under this program, we may purchase stock in the open market or through privately negotiated transactions in accordance with applicable securities laws, including pursuant to pre-arranged stock trading plans. The timing and actual amount of the stock repurchases will depend on several factors including price, capital availability, regulatory requirements, alternative investment opportunities and other market conditions. We are not obligated to repurchase a specific number of shares under this program and it may be modified, suspended or discontinued at any time. We are actively repurchasing shares under this program. The following table summarizes total shares repurchased during the three months ended June 30, 2023 and 2022: November 2020 Program August 2022 Program Total (In millions) Shares Amount Shares Amount (a) Shares Amount Three months ended June 30, 2023 — $ — 2.6 $ 325 2.6 $ 325 Three months ended June 30, 2022 2.5 $ 320 — $ — 2.5 $ 320 (a) Amount excludes excise taxes. Accrued excise taxes are included in accrued and other current liabilities and additional paid-in capital on the Condensed Consolidated Balance Sheets. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share Reconciliation [Abstract] | |
Earnings Per Share | (14) EARNINGS PER SHARE The following table summarizes the computations of basic earnings per share (“Basic EPS”) and diluted earnings per share (“Diluted EPS”). Basic EPS is computed as net income divided by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock-based compensation plans including stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and ESPP purchase rights using the treasury stock method. Three Months Ended (In millions, except per share amounts) 2023 2022 Net income $ 402 $ 311 Shares used to compute earnings per share: Weighted-average common stock outstanding — basic 272 279 Dilutive potential common shares related to stock award plans 2 2 Weighted-average common stock outstanding — diluted 274 281 Earnings per share: Basic $ 1.48 $ 1.11 Diluted $ 1.47 $ 1.11 |
Segment and Revenue Information
Segment and Revenue Information | 3 Months Ended |
Jun. 30, 2023 | |
Segment Reporting [Abstract] | |
Segment Information | (15) SEGMENT AND REVENUE INFORMATION Our reporting segment is based upon: our internal organizational structure; the manner in which our operations are managed; the criteria used by our Chief Executive Officer, our Chief Operating Decision Maker (“CODM”), to evaluate segment performance; the availability of separate financial information; and overall materiality considerations. Our CODM currently reviews total company operating results to assess overall performance and allocate resources. As of June 30, 2023, we have only one reportable segment, which represents our only operating segment. Information about our total net revenue by timing of recognition for the three months ended June 30, 2023 and 2022 is presented below (in millions): Three Months Ended 2023 2022 Net revenue by timing of recognition Revenue recognized at a point in time $ 546 $ 346 Revenue recognized over time 1,378 1,421 Net revenue $ 1,924 $ 1,767 Generally, performance obligations that are recognized upfront upon transfer of control are classified as revenue recognized at a point in time, while performance obligations that are recognized over either the estimated offering period, contractual term or subscription period as the services are provided are classified as revenue recognized over time. Revenue recognized at a point in time includes revenue allocated to the software license performance obligation. This also includes revenue from the licensing of software to third-parties. Revenue recognized over time includes service revenue allocated to the future update rights and the online hosting performance obligations. This also includes service revenue allocated to the future update rights from the licensing of software to third-parties, online-hosted services such as our Ultimate Team game mode, and subscription services. Information about our total net revenue by composition for the three months ended June 30, 2023 and 2022 is presented below (in millions): Three Months Ended 2023 2022 Net revenue by composition Full game downloads $ 301 $ 237 Packaged goods 142 104 Full game 443 341 Live services and other 1,481 1,426 Net revenue $ 1,924 $ 1,767 Full game net revenue includes full game downloads and packaged goods. Full game downloads primarily includes revenue from digital sales of full games on console, PC, mobile phones and tablets. Packaged goods primarily includes revenue from software that is sold physically through traditional channels such as brick and mortar retailers and certain licensing revenue. Live services and other net revenue primarily includes revenue from sales of extra content for console, PC, and mobile games, certain licensing revenue, subscriptions, and advertising. Information about our total net revenue by platform for the three months ended June 30, 2023 and 2022 is presented below (in millions): Three Months Ended 2023 2022 Platform net revenue Console $ 1,167 $ 1,042 PC and other 451 402 Mobile 306 323 Net revenue $ 1,924 $ 1,767 Information about our operations in North America and internationally for the three months ended June 30, 2023 and 2022 is presented below (in millions): Three Months Ended 2023 2022 Net revenue from unaffiliated customers North America $ 807 $ 762 International 1,117 1,005 Net revenue $ 1,924 $ 1,767 |
Restructuring Activities
Restructuring Activities | 3 Months Ended |
Jun. 30, 2023 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Activities | RESTRUCTURING ACTIVITIES In fiscal year 2023, we announced a restructuring plan (the “2023 Restructuring Plan” or the “Plan”) focused on prioritizing investments to our growth opportunities and optimizing our real estate portfolio. The Plan includes actions driven by portfolio rationalization including headcount reductions, in addition to office space reductions. The actions associated with the Plan are expected to be substantially completed by September 30, 2023. Since the inception of the 2023 Restructuring Plan through June 30, 2023, we have incurred charges of $158 million. We do not expect to record material future charges. Restructuring activities as of June 30, 2023 were as follows (in millions): Acquisition-Related Intangibles Impairments and Other Charges (a) Workforce (a) Office Space Reductions (b) Total Charges to operations $ 68 $ 43 $ 44 $ 155 Charges settled in cash — (10) — (10) Non-cash items (66) — (44) (110) Liability as of March 31, 2023 $ 2 $ 33 $ — $ 35 Charges to operations — 1 2 3 Charges settled in cash (2) (17) — (19) Non-cash items — — (2) (2) Liability as of June 30, 2023 $ — $ 17 $ — $ 17 (a) Charges are recorded within Restructuring in the Condensed Consolidated Statement of Operations. (b) Charges are recorded within General and administrative expenses in the Condensed Consolidated Statement of Operations. |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Pay vs Performance Disclosure | ||
Net income (loss) | $ 402 | $ 311 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Jun. 30, 2023 shares | |
Trading Arrangements, by Individual | |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
Mala Singh [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On May 11, 2023, Mala Singh, EA’s Chief People Officer, adopted a 10b5-1 Plan. Up to an aggregate 9,600 shares of our common stock may be sold under this plan with sales occurring periodically from the estimated selling start date of August 10, 2023 through July 12, 2024. |
Name | Mala Singh |
Title | Chief People Officer |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | May 11, 2023 |
Arrangement Duration | 337 days |
Aggregate Available | 9,600 |
Jacob J. Schatz [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On May 11, 2023, Jacob J. Schatz, EA’s Chief Legal Officer, adopted a 10b5-1 Plan. Up to an aggregate 12,000 shares of our common stock may be sold under this plan with sales occurring periodically from the estimated selling start date of August 10, 2023 through July 19, 2024. |
Name | Jacob J. Schatz |
Title | Chief Legal Officer |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | May 11, 2023 |
Arrangement Duration | 334 days |
Aggregate Available | 12,000 |
Laura Miele [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On May 15, 2023, Laura Miele, EA’s President of Entertainment, Technology & Central Development, adopted a 10b5-1 Plan. Up to an aggregate 24,000 shares of our common stock may be sold under this plan with sales occurring periodically from the estimated selling start date of August 14, 2023 through July 30, 2024. |
Name | Laura Miele |
Title | President of Entertainment, Technology & Central Development |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | May 15, 2023 |
Arrangement Duration | 351 days |
Aggregate Available | 24,000 |
Andrew Wilson [Member] | |
Trading Arrangements, by Individual | |
Material Terms of Trading Arrangement | On May 15, 2023, Andrew Wilson, EA’s Chief Executive Officer, adopted a 10b5-1 Plan. Up to an aggregate 32,500 shares of our common stock may be sold under this plan with sales occurring periodically from the estimated selling start date October 25, 2023 through October 31, 2024. Mr. Wilson’s 10b5-1 Plan also provides for the sale of an amount of shares of our common stock to be determined to satisfy tax withholding obligations arising from the vesting of EA equity awards in May 2024. |
Name | Andrew Wilson |
Title | Chief Executive Officer |
Rule 10b5-1 Arrangement Adopted | true |
Adoption Date | May 15, 2023 |
Arrangement Duration | 372 days |
Aggregate Available | 32,500 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended | 9 Months Ended |
Jun. 30, 2023 | Dec. 31, 2022 | |
Fair Value Disclosures [Abstract] | ||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Fair Value Measurements at Reporting Date Using As of June 30, 2023 Quoted Prices in Significant Significant Balance Sheet (Level 1) (Level 2) (Level 3) Assets Bank and time deposits $ 57 $ 57 $ — $ — Cash equivalents Money market funds 629 629 — — Cash equivalents Available-for-sale securities: Corporate bonds 97 — 97 — Short-term investments U.S. Treasury securities 96 96 — — Short-term investments U.S. agency securities 24 — 24 — Short-term investments Commercial paper 71 — 71 — Short-term investments and cash equivalents Foreign government securities 10 — 10 — Short-term investments Asset-backed securities 38 — 38 — Short-term investments Certificates of deposit 15 — 15 — Short-term investments Foreign currency derivatives 27 — 27 — Other current assets and other assets Deferred compensation plan assets (a) 25 25 — — Other assets Total assets at fair value $ 1,089 $ 807 $ 282 $ — Liabilities Foreign currency derivatives $ 53 $ — $ 53 $ — Accrued and other current liabilities and other liabilities Deferred compensation plan liabilities (a) 26 26 — — Other liabilities Total liabilities at fair value $ 79 $ 26 $ 53 $ — | Fair Value Measurements at Reporting Date Using As of March 31, 2023 Quoted Prices in Significant Significant Balance Sheet (Level 1) (Level 2) (Level 3) Assets Bank and time deposits $ 56 $ 56 $ — $ — Cash equivalents Money market funds 956 956 — — Cash equivalents Available-for-sale securities: Corporate bonds 113 — 113 — Short-term investments U.S. Treasury securities 80 80 — — Short-term investments U.S. agency securities 28 — 28 — Short-term investments and cash equivalents Commercial paper 66 — 66 — Short-term investments and cash equivalents Foreign government securities 11 — 11 — Short-term investments Asset-backed securities 37 — 37 — Short-term investments Certificates of deposit 14 — 14 — Short-term investments Foreign currency derivatives 29 — 29 — Other current assets and other assets Deferred compensation plan assets (a) 23 23 — — Other assets Total assets at fair value $ 1,413 $ 1,115 $ 298 $ — Liabilities Foreign currency derivatives $ 65 $ — $ 65 $ — Accrued and other current liabilities and other liabilities Deferred compensation plan liabilities (a) 24 24 — — Other liabilities Total liabilities at fair value $ 89 $ 24 $ 65 $ — (a) The Deferred Compensation Plan consists of various mutual funds. See Note 15 in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, for additional information regarding our Deferred Compensation Plan. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Financial Instruments [Abstract] | |
Fair Value Of Short-Term Investments | Short-term investments consisted of the following as of June 30, 2023 and March 31, 2023 (in millions): As of June 30, 2023 As of March 31, 2023 Cost or Gross Unrealized Fair Cost or Gross Unrealized Fair Gains Losses Gains Losses Corporate bonds $ 98 $ — $ (1) $ 97 $ 114 $ — $ (1) $ 113 U.S. Treasury securities 96 — — 96 80 — — 80 U.S. agency securities 24 — — 24 25 — — 25 Commercial paper 63 — — 63 63 — — 63 Foreign government securities 10 — — 10 11 — — 11 Asset-backed securities 38 — — 38 37 — — 37 Certificates of deposit 15 — — 15 14 — — 14 Short-term investments $ 344 $ — $ (1) $ 343 $ 344 $ — $ (1) $ 343 |
Fair Value Of Short-Term Investments By Stated Maturity Date Schedule | The following table summarizes the amortized cost and fair value of our short-term investments, classified by stated maturity as of June 30, 2023 and March 31, 2023 (in millions): As of June 30, 2023 As of March 31, 2023 Amortized Fair Amortized Fair Short-term investments Due within 1 year $ 275 $ 274 $ 267 $ 266 Due 1 year through 5 years 65 65 72 72 Due after 5 years 4 4 5 5 Short-term investments $ 344 $ 343 $ 344 $ 343 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Notional Amounts of Outstanding Derivative Positions | Total gross notional amounts and fair values for currency derivatives with cash flow hedge accounting designation are as follows (in millions): As of June 30, 2023 As of March 31, 2023 Notional Amount Fair Value Notional Amount Fair Value Asset Liability Asset Liability Forward contracts to purchase $ 257 $ 3 $ 4 $ 371 $ 2 $ 9 Forward contracts to sell $ 1,830 $ 23 $ 45 $ 2,255 $ 23 $ 46 Total gross notional amounts and fair values for currency derivatives that are not designated as hedging instruments are accounted for as follows (in millions): As of June 30, 2023 As of March 31, 2023 Notional Amount Fair Value Notional Amount Fair Value Asset Liability Asset Liability Forward contracts to purchase $ 447 $ — $ 2 $ 504 $ 4 $ — Forward contracts to sell $ 568 $ 1 $ 2 $ 587 $ — $ 10 |
Derivative Instruments, Gain (Loss) | The effects of cash flow hedge accounting in our Condensed Consolidated Statements of Operations for the three months ended June 30, 2023 and 2022 are as follows (in millions): Three Months Ended June 30, 2023 2022 Net revenue Research and development Net revenue Research and development Total amounts presented in our Condensed Consolidated Statements of Operations in which the effects of cash flow hedges are recorded $ 1,924 $ 596 $ 1,767 $ 572 Gains (losses) on foreign currency forward contracts designated as cash flow hedges $ 30 $ (5) $ 19 $ (3) The effect of foreign currency forward contracts not designated as hedging instruments in our Condensed Consolidated Statements of Operations for the three months ended June 30, 2023 and 2022 was as follows (in millions): Three Months Ended 2023 2022 Interest and other income (expense), net Total amounts presented in our Condensed Consolidated Statements of Operations in which the effects of balance sheet hedges are recorded $ 14 $ (5) Gains (losses) on foreign currency forward contracts not designated as hedging instruments $ 3 $ 13 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Components of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended June 30, 2023 and 2022 are as follows (in millions): Unrealized Net Gains (Losses) on Available-for-Sale Securities Unrealized Net Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balances as of March 31, 2023 $ (1) $ 13 $ (79) $ (67) Other comprehensive income (loss) before reclassifications — 10 7 17 Amounts reclassified from accumulated other comprehensive income (loss) — (25) — (25) Total other comprehensive income (loss), net of tax — (15) 7 (8) Balances as of June 30, 2023 $ (1) $ (2) $ (72) $ (75) Unrealized Net Gains (Losses) on Available-for-Sale Securities Unrealized Net Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balances as of March 31, 2022 $ (3) $ 47 $ (29) $ 15 Other comprehensive income (loss) before reclassifications (1) 106 (33) 72 Amounts reclassified from accumulated other comprehensive income (loss) — (16) — (16) Total other comprehensive income (loss), net of tax (1) 90 (33) 56 Balances as of June 30, 2022 $ (4) $ 137 $ (62) $ 71 |
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three months ended June 30, 2023 and 2022 were as follows (in millions): Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Statement of Operations Classification Three Months Ended June 30, 2023 Three Months Ended (Gains) losses on foreign currency forward contracts designated as cash flow hedges Net revenue $ (30) $ (19) Research and development 5 3 Total net (gain) loss reclassified, net of tax $ (25) $ (16) |
Goodwill And Acquisition-Rela_2
Goodwill And Acquisition-Related Intangibles, Net (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule Of Changes In The Carrying Amount Of Goodwill | The changes in the carrying amount of goodwill for the three months ended June 30, 2023 are as follows (in millions): As of March 31, 2023 Activity Effects of Foreign Currency Translation As of June 30, 2023 Goodwill $ 5,748 $ — $ 1 $ 5,749 Accumulated impairment (368) — — (368) Total $ 5,380 $ — $ 1 $ 5,381 |
Schedule Of Acquisition-Related Intangibles | Acquisition-related intangibles consisted of the following (in millions): As of June 30, 2023 As of March 31, 2023 Gross Accumulated Acquisition- Gross Accumulated Acquisition- Finite-lived acquisition-related intangibles Developed and core technology $ 1,051 $ (775) $ 276 $ 1,051 $ (754) $ 297 Trade names and trademarks 596 (302) 294 596 (285) 311 Registered user base and other intangibles 56 (53) 3 56 (50) 6 Total finite-lived acquisition-related intangibles $ 1,703 $ (1,130) $ 573 $ 1,703 $ (1,089) $ 614 Indefinite-lived acquisition-related intangibles In-process research and development $ 4 $ — $ 4 $ 4 $ — $ 4 Total acquisition-related intangibles, net $ 1,707 $ (1,130) $ 577 $ 1,707 $ (1,089) $ 618 |
Schedule Of Amoritization Of Intangibles | Amortization of intangibles for the three months ended June 30, 2023 and 2022 are classified in the Condensed Consolidated Statements of Operations as follows (in millions): Three Months Ended 2023 2022 Cost of revenue $ 16 $ 30 Operating expenses 25 39 Total $ 41 $ 69 |
Schedule Of Future Amortization Of Acquisition-Related Intangibles | As of June 30, 2023, future amortization of finite-lived acquisition-related intangibles that will be recorded in the Condensed Consolidated Statements of Operations is estimated as follows (in millions): Fiscal Year Ending March 31, 2024 (remaining nine months) $ 109 2025 122 2026 118 2027 99 2028 96 2029 29 Total $ 573 |
Royalties And Licenses (Tables)
Royalties And Licenses (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Royalties And Licenses [Abstract] | |
Schedule Of Royalty-Related Assets | The current and long-term portions of prepaid royalties and minimum guaranteed royalty-related assets, included in other current assets and other assets, consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Other current assets $ 92 $ 105 Other assets 33 31 Royalty-related assets $ 125 $ 136 |
Schedule Of Royalty-Related Liabilities | The current and long-term portions of accrued royalties, included in accrued and other current liabilities and other liabilities, consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Accrued and other current liabilities $ 211 $ 208 Other liabilities 3 — Royalty-related liabilities $ 214 $ 208 |
Balance Sheet Details (Tables)
Balance Sheet Details (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Balance Sheet Related Disclosures [Abstract] | |
Property And Equipment, Net Schedule | Property and equipment, net, as of June 30, 2023 and March 31, 2023 consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Computer, equipment and software $ 912 $ 892 Buildings 373 369 Leasehold improvements 189 186 Equipment, furniture and fixtures, and other 93 92 Land 66 66 Construction in progress 18 11 1,651 1,616 Less: accumulated depreciation (1,106) (1,067) Property and equipment, net $ 545 $ 549 |
Accrued And Other Current Liabilities Schedule | Accrued and other current liabilities as of June 30, 2023 and March 31, 2023 consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Accrued compensation and benefits $ 311 $ 436 Accrued royalties 211 208 Deferred net revenue (other) 75 103 Operating lease liabilities 68 66 Other accrued expenses 409 382 Sales returns and price protection reserves 71 90 Accrued and other current liabilities $ 1,145 $ 1,285 |
Deferred Revenue, by Arrangement, Disclosure | Deferred net revenue as of June 30, 2023 and March 31, 2023 consisted of (in millions): As of June 30, 2023 As of March 31, 2023 Deferred net revenue (online-enabled games) $ 1,580 $ 1,901 Deferred net revenue (other) 75 103 Deferred net revenue (noncurrent) 63 67 Total deferred net revenue $ 1,718 $ 2,071 |
Financing Arrangement (Tables)
Financing Arrangement (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Debt Instruments [Abstract] | |
Schedule of Carrying Values Of Liability and Equity Components of Senior Notes [Table Text Block] | The carrying and fair values of the Senior Notes are as follows (in millions): As of June 30, 2023 As of March 31, 2023 Senior Notes: 4.80% Senior Notes due 2026 $ 400 $ 400 1.85% Senior Notes due 2031 750 750 2.95% Senior Notes due 2051 750 750 Total principal amount $ 1,900 $ 1,900 Unaccreted discount (6) (6) Unamortized debt issuance costs (14) (14) Net carrying value of Senior Notes $ 1,880 $ 1,880 Fair value of Senior Notes (Level 2) $ 1,510 $ 1,540 |
Interest and Other Income | The following table summarizes our interest expense recognized for the three months ended June 30, 2023 and 2022 that is included in interest and other income (expense), net on our Condensed Consolidated Statements of Operations (in millions): Three Months Ended 2023 2022 Amortization of debt issuance costs $ (1) $ — Coupon interest expense (14) (14) Total interest expense $ (15) $ (14) |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Minimum Contractual Obligations | The following table summarizes our minimum contractual obligations as of June 30, 2023 (in millions): Fiscal Years Ending March 31, 2024 (Remaining Total nine mos.) 2025 2026 2027 2028 2029 Thereafter Unrecognized commitments Developer/licensor commitments $ 2,438 $ 294 $ 484 $ 520 $ 477 $ 226 $ 207 $ 230 Marketing commitments 1,533 173 247 311 269 171 111 251 Senior Notes interest 767 35 55 54 36 36 36 515 Operating lease imputed interest 41 8 8 6 5 4 3 7 Operating leases not yet commenced (a) 100 — 3 8 8 8 8 65 Other purchase obligations 598 212 213 143 29 1 — — Total unrecognized commitments 5,477 722 1,010 1,042 824 446 365 1,068 Recognized commitments Senior Notes principal and interest 1,920 20 — 400 — — — 1,500 Operating leases 337 51 62 51 37 29 19 88 Transition Tax and other taxes 17 4 6 7 — — — — Total recognized commitments 2,274 75 68 458 37 29 19 1,588 Total Commitments $ 7,751 $ 797 $ 1,078 $ 1,500 $ 861 $ 475 $ 384 $ 2,656 |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | |
Schedule Of Assumptions Used In Monte Carlo Simulation Model | The assumptions used in the Monte-Carlo simulation model to value our market-based restricted stock units were as follows: Three Months Ended 2023 2022 Risk-free interest rate 4.4 % 3.3 % Expected volatility 25 - 59% 33 - 56% Weighted-average volatility 39 % 43 % Expected dividends None None |
Schedule of Repurchase Agreements | The following table summarizes total shares repurchased during the three months ended June 30, 2023 and 2022: November 2020 Program August 2022 Program Total (In millions) Shares Amount Shares Amount (a) Shares Amount Three months ended June 30, 2023 — $ — 2.6 $ 325 2.6 $ 325 Three months ended June 30, 2022 2.5 $ 320 — $ — 2.5 $ 320 (a) Amount excludes excise taxes. Accrued excise taxes are included in accrued and other current liabilities and additional paid-in capital on the Condensed Consolidated Balance Sheets. |
Disclosure Of Stock-Based Compensation Arrangements By Stock-Based Payment Award | The following table summarizes our stock option activity for the three months ended June 30, 2023: Options Weighted- Weighted- Aggregate Outstanding as of March 31, 2023 121 $ 40.43 Granted 1 127.42 Exercised (2) 90.77 Outstanding as of June 30, 2023 120 $ 40.21 1.63 $ 11 Vested and expected to vest 120 $ 40.21 1.63 $ 11 Exercisable as of June 30, 2023 120 $ 40.21 1.63 $ 11 The following table summarizes our restricted stock units activity for the three months ended June 30, 2023: Restricted Weighted- Outstanding as of March 31, 2023 7,502 $ 128.54 Granted 3,838 128.56 Vested (2,150) 130.19 Forfeited or cancelled (269) 129.97 Outstanding as of June 30, 2023 8,921 $ 128.11 The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the three months ended June 30, 2023: Performance- Weighted- Outstanding as of March 31, 2023 557 $ 130.03 Granted 682 128.66 Vested (73) 127.98 Forfeited or cancelled (242) 128.77 Outstanding as of June 30, 2023 924 $ 129.51 The following table summarizes our market-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the three months ended June 30, 2023: Market-Based Weighted- Outstanding as of March 31, 2023 822 $ 149.98 Granted 143 152.92 Vested (17) 145.78 Forfeited or cancelled (445) 148.09 Outstanding as of June 30, 2023 503 $ 152.63 The following table summarizes stock-based compensation expense resulting from stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and the ESPP purchase rights included in our Condensed Consolidated Statements of Operations (in millions): Three Months Ended 2023 2022 Cost of revenue $ 2 $ 2 Research and development 93 81 Marketing and sales 11 13 General and administrative 24 29 Stock-based compensation expense $ 130 $ 125 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Earnings Per Share Reconciliation [Abstract] | |
Computation Of Basic Earnings (Loss) And Diluted Earnings (Loss) Per Share | The following table summarizes the computations of basic earnings per share (“Basic EPS”) and diluted earnings per share (“Diluted EPS”). Basic EPS is computed as net income divided by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur from common shares issuable through stock-based compensation plans including stock options, restricted stock units, market-based restricted stock units, performance-based restricted stock units, and ESPP purchase rights using the treasury stock method. Three Months Ended (In millions, except per share amounts) 2023 2022 Net income $ 402 $ 311 Shares used to compute earnings per share: Weighted-average common stock outstanding — basic 272 279 Dilutive potential common shares related to stock award plans 2 2 Weighted-average common stock outstanding — diluted 274 281 Earnings per share: Basic $ 1.48 $ 1.11 Diluted $ 1.47 $ 1.11 |
Segment and Revenue (Tables)
Segment and Revenue (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Segment Reporting [Abstract] | |
Disaggregation of Revenue | Information about our total net revenue by timing of recognition for the three months ended June 30, 2023 and 2022 is presented below (in millions): Three Months Ended 2023 2022 Net revenue by timing of recognition Revenue recognized at a point in time $ 546 $ 346 Revenue recognized over time 1,378 1,421 Net revenue $ 1,924 $ 1,767 |
Net Revenue By Revenue Composition | Information about our total net revenue by composition for the three months ended June 30, 2023 and 2022 is presented below (in millions): Three Months Ended 2023 2022 Net revenue by composition Full game downloads $ 301 $ 237 Packaged goods 142 104 Full game 443 341 Live services and other 1,481 1,426 Net revenue $ 1,924 $ 1,767 |
Net Revenue by Platform | Information about our total net revenue by platform for the three months ended June 30, 2023 and 2022 is presented below (in millions): Three Months Ended 2023 2022 Platform net revenue Console $ 1,167 $ 1,042 PC and other 451 402 Mobile 306 323 Net revenue $ 1,924 $ 1,767 |
Net Revenue By Geographic Area | Information about our operations in North America and internationally for the three months ended June 30, 2023 and 2022 is presented below (in millions): Three Months Ended 2023 2022 Net revenue from unaffiliated customers North America $ 807 $ 762 International 1,117 1,005 Net revenue $ 1,924 $ 1,767 |
Restructuring Activities (Table
Restructuring Activities (Tables) | 3 Months Ended |
Jun. 30, 2023 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs | Restructuring activities as of June 30, 2023 were as follows (in millions): Acquisition-Related Intangibles Impairments and Other Charges (a) Workforce (a) Office Space Reductions (b) Total Charges to operations $ 68 $ 43 $ 44 $ 155 Charges settled in cash — (10) — (10) Non-cash items (66) — (44) (110) Liability as of March 31, 2023 $ 2 $ 33 $ — $ 35 Charges to operations — 1 2 3 Charges settled in cash (2) (17) — (19) Non-cash items — — (2) (2) Liability as of June 30, 2023 $ — $ 17 $ — $ 17 (a) Charges are recorded within Restructuring in the Condensed Consolidated Statement of Operations. (b) Charges are recorded within General and administrative expenses in the Condensed Consolidated Statement of Operations. |
(Fair Value Of Assets And Liabi
(Fair Value Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | $ 343 | $ 343 | [1] |
Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Total assets at fair value | 807 | 1,115 | |
Total liabilities at fair value | 26 | 24 | |
Significant Other Observable Inputs (Level 2) | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Total assets at fair value | 282 | 298 | |
Total liabilities at fair value | 53 | 65 | |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Total assets at fair value | 0 | 0 | |
Total liabilities at fair value | 0 | 0 | |
Short-term investments | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-term investments | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 96 | ||
Short-term investments | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-term investments | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Debt Security, Government, Non-US [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Asset-backed Securities [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Asset-backed securities | 0 | 0 | |
Short-term investments | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Certificates of Deposit [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | Significant Other Observable Inputs (Level 2) | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 97 | ||
Short-term investments | Significant Other Observable Inputs (Level 2) | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-term investments | Significant Other Observable Inputs (Level 2) | U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 24 | 28 | |
Short-term investments | Significant Other Observable Inputs (Level 2) | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 71 | ||
Short-term investments | Significant Other Observable Inputs (Level 2) | Debt Security, Government, Non-US [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 10 | 11 | |
Short-term investments | Significant Other Observable Inputs (Level 2) | Asset-backed Securities [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Asset-backed securities | 38 | 37 | |
Short-term investments | Significant Other Observable Inputs (Level 2) | Certificates of Deposit [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 15 | 14 | |
Short-term investments | Fair Value, Inputs, Level 3 [Member] | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-term investments | Fair Value, Inputs, Level 3 [Member] | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-term investments | Fair Value, Inputs, Level 3 [Member] | U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | Fair Value, Inputs, Level 3 [Member] | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-term investments | Fair Value, Inputs, Level 3 [Member] | Debt Security, Government, Non-US [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | Fair Value, Inputs, Level 3 [Member] | Asset-backed Securities [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Asset-backed securities | 0 | 0 | |
Short-term investments | Fair Value, Inputs, Level 3 [Member] | Certificates of Deposit [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-Term Investments And Cash Equivalents | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-Term Investments And Cash Equivalents | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 80 | ||
Short-Term Investments And Cash Equivalents | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-Term Investments And Cash Equivalents | Significant Other Observable Inputs (Level 2) | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 113 | ||
Short-Term Investments And Cash Equivalents | Significant Other Observable Inputs (Level 2) | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-Term Investments And Cash Equivalents | Significant Other Observable Inputs (Level 2) | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 66 | ||
Short-Term Investments And Cash Equivalents | Fair Value, Inputs, Level 3 [Member] | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-Term Investments And Cash Equivalents | Fair Value, Inputs, Level 3 [Member] | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Short-Term Investments And Cash Equivalents | Fair Value, Inputs, Level 3 [Member] | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | ||
Cash Equivalents | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Bank Time Deposits [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 57 | 56 | |
Cash Equivalents | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Money market funds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 629 | 956 | |
Cash Equivalents | Significant Other Observable Inputs (Level 2) | Bank Time Deposits [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 0 | 0 | |
Cash Equivalents | Significant Other Observable Inputs (Level 2) | Money market funds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 0 | 0 | |
Cash Equivalents | Fair Value, Inputs, Level 3 [Member] | Bank Time Deposits [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 0 | 0 | |
Cash Equivalents | Fair Value, Inputs, Level 3 [Member] | Money market funds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 0 | 0 | |
Other Current Assets and Other Assets [Domain] | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Foreign currency derivatives, assets | 0 | 0 | |
Other Current Assets and Other Assets [Domain] | Significant Other Observable Inputs (Level 2) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Foreign currency derivatives, assets | 27 | 29 | |
Other Current Assets and Other Assets [Domain] | Fair Value, Inputs, Level 3 [Member] | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Foreign currency derivatives, assets | 0 | 0 | |
Other assets | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Deferred compensation plan assets | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Deferred compensation plan assets | 25 | 23 | |
Other assets | Significant Other Observable Inputs (Level 2) | Deferred compensation plan assets | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Deferred compensation plan assets | 0 | 0 | |
Other assets | Fair Value, Inputs, Level 3 [Member] | Deferred compensation plan assets | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Deferred compensation plan assets | 0 | 0 | |
Accrued and Other Current Liabilities and Other Liabilities | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Foreign currency derivatives, liabilities | 0 | 0 | |
Accrued and Other Current Liabilities and Other Liabilities | Significant Other Observable Inputs (Level 2) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Foreign currency derivatives, liabilities | 53 | 65 | |
Accrued and Other Current Liabilities and Other Liabilities | Fair Value, Inputs, Level 3 [Member] | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Foreign currency derivatives, liabilities | 0 | 0 | |
Other liabilities | Quoted Prices In Active Markets For Identical Financial Instruments (Level 1) | Deferred Compensation Plan Liabilities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Deferred compensation plan assets | 26 | 24 | |
Other liabilities | Significant Other Observable Inputs (Level 2) | Deferred Compensation Plan Liabilities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Deferred compensation plan assets | 0 | 0 | |
Other liabilities | Fair Value, Inputs, Level 3 [Member] | Deferred Compensation Plan Liabilities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Deferred compensation plan assets | 0 | 0 | |
Fair Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Total assets at fair value | 1,089 | 1,413 | |
Total liabilities at fair value | 79 | 89 | |
Fair Value | Short-term investments | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 97 | ||
Fair Value | Short-term investments | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 96 | ||
Fair Value | Short-term investments | U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 24 | 28 | |
Fair Value | Short-term investments | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 71 | ||
Fair Value | Short-term investments | Debt Security, Government, Non-US [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 10 | 11 | |
Fair Value | Short-term investments | Asset-backed Securities [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Asset-backed securities | 38 | 37 | |
Fair Value | Short-term investments | Certificates of Deposit [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 15 | 14 | |
Fair Value | Short-Term Investments And Cash Equivalents | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 113 | ||
Fair Value | Short-Term Investments And Cash Equivalents | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 80 | ||
Fair Value | Short-Term Investments And Cash Equivalents | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 66 | ||
Fair Value | Cash Equivalents | Bank Time Deposits [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 57 | 56 | |
Fair Value | Cash Equivalents | Money market funds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 629 | 956 | |
Fair Value | Other Current Assets and Other Assets [Domain] | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Foreign currency derivatives, assets | 27 | 29 | |
Fair Value | Other assets | Deferred compensation plan assets | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Deferred compensation plan assets | 25 | 23 | |
Fair Value | Accrued and Other Current Liabilities and Other Liabilities | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Foreign currency derivatives, liabilities | 53 | 65 | |
Fair Value | Other liabilities | Deferred Compensation Plan Liabilities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Deferred compensation plan assets | $ 26 | $ 24 | |
[1]Derived from audited Consolidated Financial Statements. |
Financial Instruments (Narrativ
Financial Instruments (Narrative) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 |
Financial Instruments [Abstract] | ||
Cash and cash equivalents | $ 2,259 | $ 2,424 |
Financial Instruments (Fair Val
Financial Instruments (Fair Value Of Short-Term Investments) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 | |
Financial Instruments | |||
Fair Value | $ 343 | $ 343 | [1] |
Short-term investments | |||
Financial Instruments | |||
Debt Securities, Available-for-sale, Amortized Cost | 344 | 344 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | (1) | (1) | |
Fair Value | 343 | 343 | |
Short-term investments | Corporate bonds | |||
Financial Instruments | |||
Debt Securities, Available-for-sale, Amortized Cost | 98 | 114 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | (1) | (1) | |
Fair Value | 97 | 113 | |
Short-term investments | U.S. Treasury securities | |||
Financial Instruments | |||
Debt Securities, Available-for-sale, Amortized Cost | 96 | 80 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 96 | 80 | |
Short-term investments | U.S. agency securities | |||
Financial Instruments | |||
Debt Securities, Available-for-sale, Amortized Cost | 24 | 25 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 24 | 25 | |
Short-term investments | Commercial paper | |||
Financial Instruments | |||
Debt Securities, Available-for-sale, Amortized Cost | 63 | 63 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 63 | 63 | |
Short-term investments | Debt Security, Government, Non-US [Member] | |||
Financial Instruments | |||
Debt Securities, Available-for-sale, Amortized Cost | 10 | 11 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 10 | 11 | |
Short-term investments | Asset-backed Securities [Member] | |||
Financial Instruments | |||
Debt Securities, Available-for-sale, Amortized Cost | 38 | 37 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 38 | 37 | |
Short-term investments | Certificates of Deposit [Member] | |||
Financial Instruments | |||
Debt Securities, Available-for-sale, Amortized Cost | 15 | 14 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | $ 15 | $ 14 | |
[1]Derived from audited Consolidated Financial Statements. |
Financial Instruments (Fair V_2
Financial Instruments (Fair Value Of Short-Term Investments By Stated Maturity Date Schedule) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 | |
Financial Instruments | |||
Short-term investments, Fair Value | $ 343 | $ 343 | [1] |
Short-term investments | |||
Financial Instruments | |||
Due in 1 year or less, Amortized Cost | 275 | 267 | |
Due in 1 year or less, Fair Value | 274 | 266 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Amortized Cost | 65 | 72 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after One Through Five Years, Fair Value | 65 | 72 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Amortized Cost | 4 | 5 | |
Debt Securities, Available-for-sale, Maturity, Allocated and Single Maturity Date, after Five Through Ten Years, Fair Value | 4 | 5 | |
Short-term investments, Amortized Cost | 344 | 344 | |
Short-term investments, Fair Value | $ 343 | $ 343 | |
[1]Derived from audited Consolidated Financial Statements. |
Derivative Financial Instrume_3
Derivative Financial Instruments (Narrative) (Details) | 3 Months Ended |
Jun. 30, 2023 | |
Designated as Hedging Instrument [Member] | |
Derivative | |
Maximum Remaining Maturity of Foreign Currency Derivatives | 18 months |
Not Designated as Hedging Instrument [Member] | |
Derivative | |
Maximum Remaining Maturity of Foreign Currency Derivatives | 3 months |
Derivative Financial Instrume_4
Derivative Financial Instruments Gross Notional Amounts and Fair Values for Currency Derivatives (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 |
Foreign exchange forward contracts to purchase [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value of foreign currency contracts outstanding, Assets | $ 3 | $ 2 |
Fair value of foreign currency contracts outstanding, Liabilities | 4 | 9 |
Foreign exchange forward contracts to sell [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value of foreign currency contracts outstanding, Assets | 23 | 23 |
Fair value of foreign currency contracts outstanding, Liabilities | 45 | 46 |
Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to purchase [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 257 | 371 |
Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to sell [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 1,830 | 2,255 |
United States Dollar [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to purchase [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 447 | 504 |
United States Dollar [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to sell [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative, Notional Amount | 568 | 587 |
Balance Sheet Hedging [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to purchase [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Current | 0 | 4 |
Derivative Liability, Current | 2 | 0 |
Balance Sheet Hedging [Member] | Not Designated as Hedging Instrument [Member] | Foreign exchange forward contracts to sell [Member] | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Current | 1 | 0 |
Derivative Liability, Current | $ 2 | $ 10 |
Location of Income (Expense) Re
Location of Income (Expense) Recognized in Income on Derivative, Non-Designated Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Derivative | ||
Net revenue | $ 1,924 | $ 1,767 |
Research and development | 596 | 572 |
Interest and other income (expense), net | 14 | (5) |
Sales Revenue, Net | ||
Derivative | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | 30 | 19 |
Research And Development [Member] | ||
Derivative | ||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax | (5) | (3) |
Interest and Other Income (Expense), net | ||
Derivative | ||
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net | $ 3 | $ 13 |
Changes in Accumulated Other Co
Changes in Accumulated Other Comprehensive Income by Component (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | $ (67) | [1] | $ 15 |
Other comprehensive income (loss) before reclassifications | 17 | 72 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (25) | (16) | |
Total other comprehensive income (loss), net of tax | (8) | 56 | |
Ending balance | (75) | 71 | |
Unrealized Gains (Losses) on Available-for-Sale Securities [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | (1) | (3) | |
Other comprehensive income (loss) before reclassifications | 0 | (1) | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | |
Total other comprehensive income (loss), net of tax | 0 | (1) | |
Ending balance | (1) | (4) | |
Unrealized Gains (Losses) on Derivative Instruments [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | 13 | 47 | |
Other comprehensive income (loss) before reclassifications | 10 | 106 | |
Amounts reclassified from accumulated other comprehensive income (loss) | (25) | (16) | |
Total other comprehensive income (loss), net of tax | (15) | 90 | |
Ending balance | (2) | 137 | |
Foreign Currency Translation Adjustment [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||
Beginning balance | (79) | (29) | |
Other comprehensive income (loss) before reclassifications | 7 | (33) | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | |
Total other comprehensive income (loss), net of tax | 7 | (33) | |
Ending balance | $ (72) | $ (62) | |
[1]Derived from audited Consolidated Financial Statements. |
Effects on net income of amount
Effects on net income of amounts reclassified from accumulated other comprehensive income (loss) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | $ (25) | $ (16) |
Unrealized Gains (Losses) on Derivative Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | (25) | (16) |
Unrealized Gains (Losses) on Derivative Instruments [Member] | Research And Development [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | 5 | 3 |
Unrealized Gains (Losses) on Derivative Instruments [Member] | Sales | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Amounts reclassified from accumulated other comprehensive income (loss) | $ (30) | $ (19) |
Goodwill And Acquisition-Rela_3
Goodwill And Acquisition-Related Intangibles, Net (Narrative) (Details) | 3 Months Ended |
Jun. 30, 2023 | |
Minimum | |
Finite-Lived Intangible Assets | |
Finite-Lived Intangible Asset, Useful Life | 2 years |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 4 years 8 months 12 days |
Maximum | |
Finite-Lived Intangible Assets | |
Finite-Lived Intangible Asset, Useful Life | 7 years |
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 4 years 9 months 18 days |
Goodwill And Acquisition-Rela_4
Goodwill And Acquisition-Related Intangibles, Net (Schedule Of Changes In The Carrying Amount Of Goodwill) (Details) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 USD ($) | ||
Goodwill [Roll Forward] | ||
Goodwill, Gross, Beginning balance | $ 5,748 | |
Accumulated impairment, beginning balance | (368) | |
Goodwill, Net, Beginning balance | 5,380 | [1] |
Goodwill acquired | 0 | |
Effects of foreign currency translation | 1 | |
Goodwill, Gross, Ending balance | 5,749 | |
Accumulated impairment, ending balance | (368) | |
Goodwill, Net, Ending balance | $ 5,381 | |
[1]Derived from audited Consolidated Financial Statements. |
Goodwill And Acquisition-Rela_5
Goodwill And Acquisition-Related Intangibles, Net (Schedule Of Acquisition-Related Intangibles) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 | |
Finite-Lived Intangible Assets | |||
Gross carrying amount | $ 1,703 | $ 1,703 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (1,130) | (1,089) | |
Acquisition-related intangibles, net | 573 | 614 | |
Intangible Assets, Gross (Excluding Goodwill) | 1,707 | 1,707 | |
Acquisition-related intangibles, net | 577 | 618 | [1] |
In Process Research and Development [Member] | |||
Finite-Lived Intangible Assets | |||
Indefinite-lived Intangible Assets (Excluding Goodwill) | 4 | 4 | |
Indefinite Lived Intangible Asset , Accumulated Amortization | 0 | 0 | |
Indefinite-Lived Intangible Assets, Net | 4 | 4 | |
Developed Technology Rights [Member] | |||
Finite-Lived Intangible Assets | |||
Gross carrying amount | 1,051 | 1,051 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (775) | (754) | |
Acquisition-related intangibles, net | 276 | 297 | |
Trademarks [Member] | |||
Finite-Lived Intangible Assets | |||
Gross carrying amount | 596 | 596 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (302) | (285) | |
Acquisition-related intangibles, net | 294 | 311 | |
Registered User Base And Other Intangibles | |||
Finite-Lived Intangible Assets | |||
Gross carrying amount | 56 | 56 | |
Finite-Lived Intangible Assets, Accumulated Amortization | (53) | (50) | |
Acquisition-related intangibles, net | $ 3 | $ 6 | |
[1]Derived from audited Consolidated Financial Statements. |
Goodwill And Acquisition-Rela_6
Goodwill And Acquisition-Related Intangibles, Net (Schedule Of Amortization Of Intangible Assets) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangibles | $ 25 | $ 39 |
Cost of revenue | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangibles | 16 | 30 |
Operating expenses | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangibles | 25 | 39 |
Total amortization | ||
Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangibles | $ 41 | $ 69 |
Goodwill And Acquisition-Rela_7
Goodwill And Acquisition-Related Intangibles, Net (Schedule Of Future Amortization Of Acquisition-Related Intangibles) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 |
Finite-Lived Intangible Assets | ||
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year | $ 109 | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | 122 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Two | 118 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Three | 99 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Four | 96 | |
Finite-Lived Intangible Assets, Amortization Expense, Year Five | 29 | |
Finite-Lived Intangible Assets, Net | 573 | $ 614 |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year through after Year Five [Member] | ||
Finite-Lived Intangible Assets | ||
Finite-Lived Intangible Assets, Net | $ 573 |
Royalties And Licenses (Schedul
Royalties And Licenses (Schedule Of Royalty-Related Assets) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 |
Royalties and Licenses | ||
Royalty-related assets | $ 125 | $ 136 |
Other Current Assets | ||
Royalties and Licenses | ||
Royalty-related assets | 92 | 105 |
Other assets | ||
Royalties and Licenses | ||
Royalty-related assets | $ 33 | $ 31 |
Royalties And Licenses (Sched_2
Royalties And Licenses (Schedule Of Royalty-Related Liabilities) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 |
Royalty Related Liabilities | ||
Royalty-related liabilities | $ 214 | $ 208 |
Accrued royalties | ||
Royalty Related Liabilities | ||
Royalty-related liabilities | 211 | 208 |
Other liabilities | ||
Royalty Related Liabilities | ||
Royalty-related liabilities | $ 3 | $ 0 |
Royalties And Licenses (Narrati
Royalties And Licenses (Narrative) (Details) $ in Millions | Jun. 30, 2023 USD ($) |
Royalties And Licenses [Abstract] | |
Other commitment | $ 2,438 |
Balance Sheet Details (Narrativ
Balance Sheet Details (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Deferred Revenue Arrangement [Line Items] | ||
Depreciation expense | $ 49 | $ 44 |
Recognition of revenue deferral | $ 1,124 | $ 1,240 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | ||
Deferred Revenue Arrangement [Line Items] | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 12 months | |
Total deferred revenue [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,718 |
Balance Sheet Details (Property
Balance Sheet Details (Property And Equipment, Net Schedule) (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | ||
Property and Equipment, Net [Line Items] | ||||
Property and equipment, gross | $ 1,651 | $ 1,616 | ||
Less: accumulated depreciation | (1,106) | (1,067) | ||
Property and equipment, net | 545 | 549 | [1] | |
Depreciation expense | 49 | $ 44 | ||
Computer, equipment and software | ||||
Property and Equipment, Net [Line Items] | ||||
Property and equipment, gross | 912 | 892 | ||
Buildings | ||||
Property and Equipment, Net [Line Items] | ||||
Property and equipment, gross | 373 | 369 | ||
Leasehold improvements | ||||
Property and Equipment, Net [Line Items] | ||||
Property and equipment, gross | 189 | 186 | ||
Equipment, furniture and fixtures, and other | ||||
Property and Equipment, Net [Line Items] | ||||
Property and equipment, gross | 93 | 92 | ||
Land | ||||
Property and Equipment, Net [Line Items] | ||||
Property and equipment, gross | 66 | 66 | ||
Construction in progress | ||||
Property and Equipment, Net [Line Items] | ||||
Property and equipment, gross | $ 18 | $ 11 | ||
[1]Derived from audited Consolidated Financial Statements. |
Balance Sheet Details (Accrued
Balance Sheet Details (Accrued And Other Current Liabilities Schedule) (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 | |
Balance Sheet Related Disclosures [Abstract] | |||
Other accrued expenses | $ 311 | $ 436 | |
Accrued compensation and benefits | 211 | 208 | |
Accrued royalties | 75 | 103 | |
Contract with Customer, Liability, Current | 68 | 66 | |
Deferred net revenue, other | 409 | 382 | |
Operating Lease, Liability, Current | 71 | 90 | |
Accrued Liabilities, Current | $ 1,145 | $ 1,285 | [1] |
[1]Derived from audited Consolidated Financial Statements. |
Balance Sheet Details (Deferred
Balance Sheet Details (Deferred Net Revenue) (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | ||
Deferred Revenue Arrangement [Line Items] | ||||
Deferred Revenue, Current | $ 1,580 | $ 1,901 | [1] | |
Deferred Revenue, Revenue Recognized | 1,124 | $ 1,240 | ||
Online enabled games [Member] | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Deferred Revenue, Current | 1,580 | 1,901 | ||
Other [Member] | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Deferred Revenue, Current | 75 | 103 | ||
Noncurrent [Member] | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Deferred Revenue, Noncurrent | 63 | 67 | ||
Total [Member] | ||||
Deferred Revenue Arrangement [Line Items] | ||||
Deferred Revenue | $ 1,718 | $ 2,071 | ||
[1]Derived from audited Consolidated Financial Statements. |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Income Tax Disclosure [Abstract] | ||
Effective Income Tax Rate Reconciliation, Percent | 28% | 29% |
Provision for income taxes | $ 154 | $ 125 |
Gross unrecognized tax benefits | $ 942 |
Financing Arrangement (Senior N
Financing Arrangement (Senior Notes) (Details) - USD ($) $ in Millions | 3 Months Ended | ||||||
Feb. 04, 2016 | Jun. 30, 2023 | Jun. 30, 2022 | Mar. 31, 2023 | Feb. 28, 2022 | Feb. 11, 2021 | Feb. 24, 2016 | |
Debt Instrument [Line Items] | |||||||
Proceeds from Issuance of Senior Long-term Debt | $ 395 | ||||||
Amortization of Debt Discount (Premium) | $ 6 | ||||||
Interest Expense | 15 | $ 14 | |||||
Senior Notes | 1,880 | $ 1,880 | |||||
Proceeds from Debt, Net of Issuance Costs | 1,478 | ||||||
Debt Issuance Costs, Gross | 16 | ||||||
2026 Notes | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt | $ 400 | 400 | $ 400 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 4.80% | ||||||
Debt Instrument, Maturity Date | Mar. 01, 2026 | ||||||
Effective interest rate | 4.97% | ||||||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 2 years 8 months 12 days | ||||||
Senior Notes | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt | $ 1,900 | 1,900 | |||||
Debt Instrument, Unamortized Discount (Premium), Net | (6) | (6) | $ (1) | ||||
Debt Issuance Costs, Noncurrent, Net | 14 | 14 | $ 4 | ||||
Senior Notes, Frequency of Periodic Payment | semiannually | ||||||
Debt Instrument, Fair Value Disclosure | $ 1,510 | 1,540 | |||||
Debt Instrument, Redemption Price, Percentage | 100% | ||||||
Change of control repurchase event | |||||||
Debt Instrument [Line Items] | |||||||
Debt Instrument, Redemption Price, Percentage | 101% | ||||||
2031 Notes | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt | $ 750 | 750 | $ 750 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 1.85% | ||||||
Debt Instrument, Maturity Date | Feb. 15, 2031 | ||||||
Effective interest rate | 1.98% | ||||||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 7 years 7 months 6 days | ||||||
2051 Notes | |||||||
Debt Instrument [Line Items] | |||||||
Long-term Debt | $ 750 | $ 750 | $ 750 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 2.95% | ||||||
Debt Instrument, Maturity Date | Feb. 15, 2051 | ||||||
Effective interest rate | 3.04% | ||||||
Debt Instrument, Convertible, Remaining Discount Amortization Period | 27 years 7 months 6 days |
Financing Arrangement (Line of
Financing Arrangement (Line of Credit Facility) (Details) - Revolving Credit Facility [Member] - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Mar. 22, 2023 | |
Line of Credit Facility [Line Items] | ||
Credit Facility, Maximum Borrowing Capacity | $ 500 | |
Option To Request Additional Commitments On Credit Facility | $ 500 | |
Debt issuance costs | $ 2 | |
Line of Credit Facility Term | 5 years | |
Secured Overnight Financing Rate (SOFR) | ||
Line of Credit Facility [Line Items] | ||
Debt Instrument, Basis Spread on Variable Rate | 0.10% |
Financing Arrangement (Schedule
Financing Arrangement (Schedule Of Interest Expense Related To Notes) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Debt Instruments [Abstract] | ||
Amortization of debt issuance costs | $ (1) | $ 0 |
Coupon interest expense | (14) | (14) |
Total interest expense | $ (15) | $ (14) |
Commitments And Contingencies_2
Commitments And Contingencies (Narrative) (Details) $ in Millions | Jun. 30, 2023 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Unrecognized Tax Benefits, Interest on Income Taxes Accrued | $ 668 |
Commitments And Contingencies_3
Commitments And Contingencies (Minimum Contractual Obligations) (Details) $ in Millions | Jun. 30, 2023 USD ($) |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | $ 5,477 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 722 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 1,010 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 1,042 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 824 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 446 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 1,068 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 365 |
Recorded Total | 2,274 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 75 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 68 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 458 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 37 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 29 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 19 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 1,588 |
TotalUnconditionalPurchaseObligationBalanceSheetAmount | 7,751 |
TotalUnconditionalPurchaseObligationBalanceSheetAmountRemainingForCurrentFiscalYear | 797 |
Total Unconditional PurchaseObligationBalanceSheetAmountOneYearAfterFiscalYearEnd | 1,078 |
Total Unconditional Purchase Obligation Balance Sheet Amount Two Years After Fiscal Year End | 1,500 |
TotalUnconditionalPurchaseObligationBalanceSheetAmountThreeYearsAfterFiscalYearEnd | 861 |
TotalUnconditionalPurchaseObligationBalanceSheetAmountFourYearsAfterFiscalYearEnd | 475 |
Total Unconditional Purchase Obligation Balance Sheet Amount Five Years After Fiscal Year End | 384 |
TotalUnconditionalPurchaseObligationBalanceSheetAmountThereafter | $ 2,656 |
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract | 12 years |
Developer Commitments | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | $ 2,438 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 294 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 484 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 520 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 477 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 226 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 230 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 207 |
Marketing [Member] | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 1,533 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 173 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 247 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 311 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 269 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 171 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 251 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 111 |
Senior Notes Interest [Member] | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 767 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 35 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 55 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 54 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 36 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 36 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 515 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 36 |
Operating Lease Imputed Interest [Member] [Member] | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 41 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 6 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 5 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 4 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 7 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 3 |
Other Unrecorded Purchase Obligations [Member] | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 598 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 212 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 213 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 143 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 29 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 1 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 0 |
Purchase Obligation, to be Paid, Year Five | 0 |
Senior Notes Principal And Interest [Member] | |
Long-term Purchase Commitment [Line Items] | |
Recorded Total | 1,920 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 20 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 400 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 1,500 |
Operating Lease [Member] | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 100 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 0 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 3 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 8 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 65 |
Unrecorded Unconditional Purchase Obligation, to be Paid, Year Five | 8 |
Recorded Total | 337 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 51 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 62 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 51 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 37 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 29 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 19 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 88 |
Transition And Other Taxes [Member] | |
Long-term Purchase Commitment [Line Items] | |
Recorded Total | 17 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 4 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 6 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 7 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 0 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | $ 0 |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Jun. 30, 2023 | Jun. 30, 2022 | Aug. 31, 2022 | |
Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Measurement Periods for Performance based Restricted Stock | 3 years | ||
Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Measurement Periods for Performance based Restricted Stock | 4 years | ||
Market-Based Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 21 | ||
Market-Based Restricted Stock Units [Member] | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 0% | ||
Market-Based Restricted Stock Units [Member] | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 200% | ||
Performance Based Restricted Stock Units [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 42 | ||
Performance Based Restricted Stock Units [Member] | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 0% | ||
Performance Based Restricted Stock Units [Member] | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Percentage range of shares received at vesting based on total stockholder return ("TSR") | 200% | ||
Restricted Stock Rights [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 1,114 | ||
Weighted-average service period | 2 years 2 months 12 days | ||
Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 1,051 | ||
August 2022 Repurchase Program | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Amount of common stock authorized for repurchase | $ 2,600 | ||
November 2020 Repurchase Program [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Amount of common stock authorized for repurchase | $ 2,600 | ||
Stock-based compensation expense [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Deferred Income Tax Expense (Benefit) | $ 29 | ||
Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-based Payment Arrangement, Amount | $ 21 |
Stock-Based Compensation (Sched
Stock-Based Compensation (Schedule Of Assumptions Used In Monte-Carlo Simulation Model) (Details) - Market-Based Restricted Stock Units [Member] | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Risk-free interest rate | 4.40% | 3.30% |
Expected volatility, maximum | 59% | 56% |
Expected volatility, minimum | 25% | 33% |
Weighted-average volatility | 39% | 43% |
Stock-Based Compensation (Sch_2
Stock-Based Compensation (Schedule Of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Millions | 3 Months Ended |
Jun. 30, 2023 USD ($) $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | |
Options, Outstanding, Beginning Balance | shares | 121 |
Options, Granted | shares | 1 |
Options, Exercised | shares | (2) |
Options, Outstanding, Ending Balance | shares | 120 |
Options, Vested and expected to vest | shares | 120 |
Options, Exercisable | shares | 120 |
Weighted-average exercise price of options outstanding, beginning balance | $ / shares | $ 40.43 |
Weighted-average exercise price of options granted during period | $ / shares | 127.42 |
Weighted-average exercise price of options exercised during the period | $ / shares | 90.77 |
Weighted-average exercise price of options outstanding, ending balance | $ / shares | 40.21 |
Weighted-average exercise price of options vested and expected to vest | $ / shares | 40.21 |
Weighted-average exercise price of options exercisable | $ / shares | $ 40.21 |
Weighted-average remaining contractual term of options outstanding | 1 year 7 months 17 days |
Weighted-average remaining contractual term of options vested and expected to vest | 1 year 7 months 17 days |
Weighted-average remaining contractual term of options exercisable | 1 year 7 months 17 days |
Aggregate intrinsic value of options outstanding | $ | $ 11 |
Aggregate intrinsic value of options vested and expected to vest | $ | 11 |
Aggregate intrinsic value of options exercisable | $ | $ 11 |
Stock-Based Compensation (Sch_3
Stock-Based Compensation (Schedule Of Restricted Stock Rights Activity, Excluding Performance-Based Activity) (Details) - Restricted Stock Rights [Member] shares in Thousands | 3 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Outstanding balance | shares | 7,502 |
Granted | shares | 3,838 |
Vested | shares | (2,150) |
Forfeited or cancelled | shares | (269) |
Outstanding balance | shares | 8,921 |
Weighted-average grant date fair value, beginning balance | $ / shares | $ 128.54 |
Weighted-average grant date fair value, vested during period | $ / shares | 128.56 |
Weighted-average grant date fair value, vested during period | $ / shares | 130.19 |
Weighted-average grant date fair value, forfeited or cancelled during period | $ / shares | 129.97 |
Weighted-average grant date fair value, ending balance | $ / shares | $ 128.11 |
Stock-Based Compensation (Sch_4
Stock-Based Compensation (Schedule Of Performance-Based Restricted Stock Unit Activity) (Details) - Restricted Stock Rights [Member] shares in Thousands | 3 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Outstanding balance | shares | 557 |
Granted | shares | 682 |
Vested | shares | (73) |
Forfeited or cancelled | shares | (242) |
Outstanding balance | shares | 924 |
Weighted-average grant date fair value, beginning balance | $ / shares | $ 130.03 |
Weighted-average grant date fair value, vested during period | $ / shares | 128.66 |
Weighted-average grant date fair value, forfeited or cancelled during period | $ / shares | 128.77 |
Weighted-average grant date fair value, ending balance | $ / shares | 129.51 |
Weighted-average grant date fair value, vested during period | $ / shares | $ 127.98 |
Stock-Based Compensation (Sch_5
Stock-Based Compensation (Schedule Of Market-Based Restricted Stock Unit Activity) (Details) - Market-Based Restricted Stock Units [Member] shares in Thousands | 3 Months Ended |
Jun. 30, 2023 $ / shares shares | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | |
Outstanding balance | shares | 822 |
Granted | shares | 143 |
Vested | shares | (17) |
Forfeited or cancelled | shares | (445) |
Outstanding balance | shares | 503 |
Weighted-average grant date fair value, beginning balance | $ / shares | $ 149.98 |
Weighted-average grant date fair values of market-based restricted stock rights granted | $ / shares | 152.92 |
Weighted-average grant date fair value, vested during period | $ / shares | 145.78 |
Weighted-average grant date fair value, forfeited or cancelled during period | $ / shares | 148.09 |
Weighted-average grant date fair value, ending balance | $ / shares | $ 152.63 |
Stock-Based Compensation (Sch_6
Stock-Based Compensation (Schedule Of Stock-Based Compensation Expense By Statement Of Operations) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | $ 130 | $ 125 |
Cost of revenue | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 2 | 2 |
Research And Development [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 93 | 81 |
Marketing and Sales [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | 11 | 13 |
General And Administrative [Member] | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||
Stock-based compensation expense | $ 24 | $ 29 |
Stock-Based Compensation Schedu
Stock-Based Compensation Schedule of Share Repurchases (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | |||
Jun. 30, 2023 | Dec. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2021 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Stock Repurchased and Retired During Period, Value | $ 325 | $ 326 | $ 320 | $ 320 |
Stock Repurchased and Retired During Period, Shares | 2.6 | 2.5 | ||
November 2020 Repurchase Program [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Stock Repurchased and Retired During Period, Value | $ 0 | $ 320 | ||
Stock Repurchased and Retired During Period, Shares | 0 | 2.5 | ||
August 2022 Repurchase Program | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Stock Repurchased and Retired During Period, Value | $ 325 | $ 0 | ||
Stock Repurchased and Retired During Period, Shares | 2.6 | 0 |
Earnings Per Share (Computation
Earnings Per Share (Computation Of Basic Earnings And Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Earnings Per Share Reconciliation [Abstract] | ||
Net income (loss) | $ 402 | $ 311 |
Weighted Average Number of Shares Outstanding, Basic | 272 | 279 |
Dilutive potential common shares related to stock award plans and from assumed exercise of stock options | 2 | 2 |
Weighted Average Number of Shares Outstanding, Diluted | 274 | 281 |
Earnings Per Share, Basic | $ 1.48 | $ 1.11 |
Earnings Per Share, Diluted | $ 1.47 | $ 1.11 |
Earnings Per Share (Narrative)
Earnings Per Share (Narrative) (Details) shares in Thousands | 3 Months Ended |
Jun. 30, 2023 shares | |
Earnings Per Share Reconciliation [Abstract] | |
Antidilutive Securities Excluded from Computation of Earnings (Loss) Per Share, Amount | 1,000 |
Segment Information (Narrative)
Segment Information (Narrative) (Details) | 3 Months Ended |
Jun. 30, 2023 | |
Segment Reporting [Abstract] | |
Number of reportable segments | 1 |
Segment Information (Net Revenu
Segment Information (Net Revenue By Timing Recognition) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Segment Reporting, Revenue Reconciling Item | ||
Net revenue | $ 1,924 | $ 1,767 |
Recognized at a point in time | ||
Segment Reporting, Revenue Reconciling Item | ||
Net revenue | 546 | 346 |
Recognized over time | ||
Segment Reporting, Revenue Reconciling Item | ||
Net revenue | $ 1,378 | $ 1,421 |
Segment Information (Net Reve_2
Segment Information (Net Revenue By Revenue Composition ) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Segment Reporting, Revenue Reconciling Item | ||
Net revenue | $ 1,924 | $ 1,767 |
Full game, net revenue [Member] | ||
Segment Reporting, Revenue Reconciling Item | ||
Net revenue | 443 | 341 |
Full game downloads, net revenue [Member] | ||
Segment Reporting, Revenue Reconciling Item | ||
Net revenue | 301 | 237 |
Packaged goods, net revenue [Member] | ||
Segment Reporting, Revenue Reconciling Item | ||
Net revenue | 142 | 104 |
Live services and other, net revenue [Member] | ||
Segment Reporting, Revenue Reconciling Item | ||
Net revenue | $ 1,481 | $ 1,426 |
Segment Information (Net Reve_3
Segment Information (Net Revenue By Platform) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Net Revenue by Platform [Line Items] | ||
Net revenue | $ 1,924 | $ 1,767 |
Console | ||
Net Revenue by Platform [Line Items] | ||
Net revenue | 1,167 | 1,042 |
PC and other | ||
Net Revenue by Platform [Line Items] | ||
Net revenue | 451 | 402 |
Mobile | ||
Net Revenue by Platform [Line Items] | ||
Net revenue | $ 306 | $ 323 |
Segment Information (Net Reve_4
Segment Information (Net Revenue By Geographic Area) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Jun. 30, 2023 | Jun. 30, 2022 | |
Revenue from External Customer [Line Items] | ||
Net revenue | $ 1,924 | $ 1,767 |
North America | ||
Revenue from External Customer [Line Items] | ||
Net revenue | 807 | 762 |
International | ||
Revenue from External Customer [Line Items] | ||
Net revenue | $ 1,117 | $ 1,005 |
Restructuring Activities - Narr
Restructuring Activities - Narrative (Details) - USD ($) $ in Millions | Jun. 30, 2023 | Mar. 31, 2023 |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring reserve | $ 17 | $ 35 |
2023 Plan | ||
Restructuring Cost and Reserve [Line Items] | ||
Restructuring and related cost, expected cost | $ 158 |
Restructuring Activities - Sche
Restructuring Activities - Schedule of Restructuring Activities (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Jun. 30, 2023 | Mar. 31, 2023 | |
Restructuring Cost and Reserve [Line Items] | ||
Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] | Restructuring | |
Restructuring Reserve [Roll Forward] | ||
Charges to operations | $ 3 | $ 155 |
Charges settled in cash | (19) | (10) |
Non-cash items | (2) | (110) |
Restructuring reserve | 17 | 35 |
Acquisition Related Intangibles Impairments and Other Charges | ||
Restructuring Reserve [Roll Forward] | ||
Charges to operations | 0 | 68 |
Charges settled in cash | (2) | 0 |
Non-cash items | 0 | (66) |
Restructuring reserve | 0 | 2 |
Workforce | ||
Restructuring Reserve [Roll Forward] | ||
Charges to operations | 1 | 43 |
Charges settled in cash | (17) | (10) |
Non-cash items | 0 | 0 |
Restructuring reserve | 17 | 33 |
Facilities-Related | ||
Restructuring Reserve [Roll Forward] | ||
Charges to operations | 2 | 44 |
Charges settled in cash | 0 | 0 |
Non-cash items | (2) | (44) |
Restructuring reserve | $ 0 | $ 0 |
Uncategorized Items - ea-202306
Label | Element | Value |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | $ 125,000,000 |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 130,000,000 |
Dividends, Common Stock, Cash | us-gaap_DividendsCommonStockCash | 53,000,000 |
Dividends, Common Stock, Cash | us-gaap_DividendsCommonStockCash | 52,000,000 |
Stock Issued During Period, Value, New Issues | us-gaap_StockIssuedDuringPeriodValueNewIssues | (103,000,000) |
Stock Issued During Period, Value, New Issues | us-gaap_StockIssuedDuringPeriodValueNewIssues | $ (105,000,000) |
Common Stock, Dividends, Per Share, Declared | us-gaap_CommonStockDividendsPerShareDeclared | $ 0.19 |
Additional Paid-in Capital [Member] | ||
Equity, Attributable to Parent | us-gaap_StockholdersEquity | $ 0 |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 0 |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 0 |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 125,000,000 |
APIC, Share-Based Payment Arrangement, Increase for Cost Recognition | us-gaap_AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue | 130,000,000 |
Stock Repurchased and Retired During Period, Value | us-gaap_StockRepurchasedAndRetiredDuringPeriodValue | 22,000,000 |
Stock Repurchased and Retired During Period, Value | us-gaap_StockRepurchasedAndRetiredDuringPeriodValue | 25,000,000 |
Stock Issued During Period, Value, New Issues | us-gaap_StockIssuedDuringPeriodValueNewIssues | (103,000,000) |
Stock Issued During Period, Value, New Issues | us-gaap_StockIssuedDuringPeriodValueNewIssues | (105,000,000) |
AOCI Attributable to Parent [Member] | ||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | us-gaap_ComprehensiveIncomeNetOfTax | 56,000,000 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | us-gaap_ComprehensiveIncomeNetOfTax | (8,000,000) |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 71,000,000 |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | (75,000,000) |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 15,000,000 |
Retained Earnings [Member] | ||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | us-gaap_ComprehensiveIncomeNetOfTax | 402,000,000 |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent | us-gaap_ComprehensiveIncomeNetOfTax | 311,000,000 |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 7,607,000,000 |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 7,567,000,000 |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 7,406,000,000 |
Dividends, Common Stock, Cash | us-gaap_DividendsCommonStockCash | 52,000,000 |
Dividends, Common Stock, Cash | us-gaap_DividendsCommonStockCash | 53,000,000 |
Stock Repurchased and Retired During Period, Value | us-gaap_StockRepurchasedAndRetiredDuringPeriodValue | 301,000,000 |
Stock Repurchased and Retired During Period, Value | us-gaap_StockRepurchasedAndRetiredDuringPeriodValue | 298,000,000 |
Common Stock [Member] | ||
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 3,000,000 |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | 3,000,000 |
Equity, Attributable to Parent | us-gaap_StockholdersEquity | $ 3,000,000 |
Stock Issued During Period, Shares, New Issues | us-gaap_StockIssuedDuringPeriodSharesNewIssues | 1,408,000 |
Stock Issued During Period, Shares, New Issues | us-gaap_StockIssuedDuringPeriodSharesNewIssues | 1,413,000 |
Stock Repurchased and Retired During Period, Shares | us-gaap_StockRepurchasedAndRetiredDuringPeriodShares | 2,512,000 |
Stock Repurchased and Retired During Period, Shares | us-gaap_StockRepurchasedAndRetiredDuringPeriodShares | 2,574,000 |
Common Stock, Shares, Outstanding | us-gaap_CommonStockSharesOutstanding | 278,952,000 |
Common Stock, Shares, Outstanding | us-gaap_CommonStockSharesOutstanding | 280,051,000 |
Common Stock, Shares, Outstanding | us-gaap_CommonStockSharesOutstanding | 271,748,000 |