Cover
Cover - shares | 6 Months Ended | |
Sep. 30, 2024 | Oct. 30, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2024 | |
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, $0.01 par value | |
Trading Symbol | EA | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Emerging Growth Company | false | |
Entity Small Business | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 262,272,821 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2025 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --03-31 | |
Entity Central Index Key | 0000712515 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | [1] |
Current assets: | |||
Cash and cash equivalents | $ 2,197 | $ 2,900 | |
Short-term investments | 366 | 362 | |
Receivables, net | 1,012 | 565 | |
Other current assets | 397 | 420 | |
Total current assets | 3,972 | 4,247 | |
Property and equipment, net | 578 | 578 | |
Goodwill | 5,381 | 5,379 | |
Acquisition-related intangibles, net | 346 | 400 | |
Deferred income taxes, net | 2,431 | 2,380 | |
Other assets | 428 | 436 | |
TOTAL ASSETS | 13,136 | 13,420 | |
Current liabilities: | |||
Accounts payable, accrued, and other current liabilities | 1,312 | 1,276 | |
Deferred net revenue (online-enabled games) | 1,475 | 1,814 | |
Total current liabilities | 2,787 | 3,090 | |
Senior notes, net | 1,883 | 1,882 | |
Income tax obligations | 552 | 497 | |
Other liabilities | 506 | 438 | |
Total liabilities | 5,728 | 5,907 | |
Commitments and contingencies (See Note 12) | |||
Stockholders’ equity: | |||
Common stock, $0.01 par value. 1,000 shares authorized; 263 and 266 shares issued and outstanding, respectively | 3 | 3 | |
Additional paid-in capital | 0 | 0 | |
Retained earnings | 7,520 | 7,582 | |
Accumulated other comprehensive income (loss) | (115) | (72) | |
Total stockholders’ equity | 7,408 | 7,513 | |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 13,136 | $ 13,420 | |
[1]Derived from audited Consolidated Financial Statements. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions | Sep. 30, 2024 | Mar. 31, 2024 |
Statement of Financial Position [Abstract] | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,000 | 1,000 |
Common stock, shares outstanding (in shares) | 263 | 266 |
Common stock, shares issued (in shares) | 263 | 266 |
Condensed Consolidated Statemen
Condensed Consolidated Statements Of Operations - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Income Statement [Abstract] | ||||
Net revenue | $ 2,025 | $ 1,914 | $ 3,685 | $ 3,838 |
Cost of revenue | 456 | 456 | 719 | 824 |
Gross profit | 1,569 | 1,458 | 2,966 | 3,014 |
Operating expenses: | ||||
Research and development | 648 | 602 | 1,277 | 1,198 |
Marketing and sales | 272 | 280 | 477 | 509 |
General and administrative | 197 | 173 | 377 | 336 |
Amortization and impairment of intangibles | 17 | 24 | 34 | 49 |
Restructuring (See Note 7) | 51 | 2 | 53 | 3 |
Total operating expenses | 1,185 | 1,081 | 2,218 | 2,095 |
Operating income | 384 | 377 | 748 | 919 |
Interest and other income (expense), net | 15 | 14 | 45 | 28 |
Income before provision for (benefits from) income taxes | 399 | 391 | 793 | 947 |
Provision for (benefits from) income taxes | 105 | (8) | 219 | 146 |
Net income | $ 294 | $ 399 | $ 574 | $ 801 |
Earnings per share: | ||||
Basic (in dollars per share) | $ 1.11 | $ 1.47 | $ 2.17 | $ 2.94 |
Diluted (in dollars per share) | $ 1.11 | $ 1.47 | $ 2.15 | $ 2.93 |
Number of shares used in computation: | ||||
Basic (in shares) | 264 | 271 | 265 | 272 |
Diluted (in shares) | 266 | 272 | 267 | 273 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 294 | $ 399 | $ 574 | $ 801 |
Other comprehensive income (loss), net of tax: | ||||
Net gains (losses) on available-for-sale securities | 1 | 0 | 1 | 0 |
Net gains (losses) on derivative instruments | (72) | 56 | (56) | 41 |
Foreign currency translation adjustments | 16 | (15) | 12 | (8) |
Total other comprehensive income (loss), net of tax | (55) | 41 | (43) | 33 |
Total comprehensive income | $ 239 | $ 440 | $ 531 | $ 834 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions | 6 Months Ended | |
Sep. 30, 2024 | Sep. 30, 2023 | |
OPERATING ACTIVITIES | ||
Net income | $ 574 | $ 801 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation, amortization, accretion and impairment | 202 | 173 |
Stock-based compensation | 317 | 285 |
Change in assets and liabilities: | ||
Receivables, net | (447) | (367) |
Other assets | (20) | 74 |
Accounts payable, accrued, and other liabilities | 117 | (200) |
Deferred income taxes, net | (50) | 108 |
Deferred net revenue (online-enabled games) | (339) | (403) |
Net cash provided by operating activities | 354 | 471 |
INVESTING ACTIVITIES | ||
Capital expenditures | (117) | (96) |
Proceeds from maturities and sales of short-term investments | 239 | 302 |
Purchase of short-term investments | (237) | (313) |
Net cash used in investing activities | (115) | (107) |
FINANCING ACTIVITIES | ||
Proceeds from issuance of common stock | 42 | 40 |
Cash dividends paid | (101) | (103) |
Cash paid to taxing authorities for shares withheld from employees | (139) | (120) |
Common stock repurchases | (750) | (650) |
Net cash used in financing activities | (948) | (833) |
Effect of foreign exchange on cash and cash equivalents | 6 | (9) |
Increase (decrease) in cash and cash equivalents | (703) | (478) |
Beginning cash and cash equivalents | 2,900 | 2,424 |
Ending cash and cash equivalents | 2,197 | 1,946 |
Supplemental cash flow information: | ||
Cash paid during the period for income taxes, net | 209 | 56 |
Cash paid during the period for interest | $ 28 | $ 28 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' Equity Statement - 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 | $ 3 | $ 0 | $ 7,357 | $ (67) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Total comprehensive income | 394 | 402 | (8) | |||
Stock-based compensation | 130 | 130 | ||||
Issuance of common stock (in shares) | 1,408 | |||||
Issuance of common stock | (105) | (105) | ||||
Common stock repurchases (in shares) | (2,574) | |||||
Common stock repurchases and excise tax | (326) | |||||
Common stock repurchases and excise tax | (25) | (301) | ||||
Cash dividends declared ($0.19 per common share) | (52) | (52) | ||||
Ending balance (in shares) at Jun. 30, 2023 | 271,748 | |||||
Ending balance at Jun. 30, 2023 | $ 7,334 | $ 3 | 0 | 7,406 | (75) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cash dividends declared (in dollars per share) | $ 0.19 | |||||
Beginning balance (in shares) at Mar. 31, 2023 | 272,914 | |||||
Beginning balance at Mar. 31, 2023 | $ 7,293 | $ 3 | 0 | 7,357 | (67) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Total comprehensive income | $ 834 | |||||
Common stock repurchases (in shares) | (5,200) | |||||
Common stock repurchases and excise tax | $ (650) | |||||
Ending balance (in shares) at Sep. 30, 2023 | 269,840 | |||||
Ending balance at Sep. 30, 2023 | 7,575 | $ 3 | 0 | 7,606 | (34) | |
Beginning balance (in shares) at Jun. 30, 2023 | 271,748 | |||||
Beginning balance at Jun. 30, 2023 | 7,334 | $ 3 | 0 | 7,406 | (75) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Total comprehensive income | 440 | 399 | 41 | |||
Stock-based compensation | 155 | 155 | ||||
Issuance of common stock (in shares) | 673 | |||||
Issuance of common stock | $ 25 | 25 | ||||
Common stock repurchases (in shares) | (2,600) | (2,581) | ||||
Common stock repurchases and excise tax | $ (328) | (180) | (148) | |||
Common stock repurchases and excise tax | (325) | |||||
Cash dividends declared ($0.19 per common share) | (51) | (51) | ||||
Ending balance (in shares) at Sep. 30, 2023 | 269,840 | |||||
Ending balance at Sep. 30, 2023 | $ 7,575 | $ 3 | 0 | 7,606 | (34) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cash dividends declared (in dollars per share) | $ 0.19 | |||||
Beginning balance (in shares) at Mar. 31, 2024 | 266,000 | 266,415 | ||||
Beginning balance at Mar. 31, 2024 | $ 7,513 | [1] | $ 3 | 0 | 7,582 | (72) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Total comprehensive income | 292 | 280 | 12 | |||
Stock-based compensation | 143 | 143 | ||||
Issuance of common stock (in shares) | 1,565 | |||||
Issuance of common stock | (121) | (121) | ||||
Common stock repurchases (in shares) | (2,847) | |||||
Common stock repurchases and excise tax | (377) | (22) | (355) | |||
Cash dividends declared ($0.19 per common share) | (50) | (50) | ||||
Ending balance (in shares) at Jun. 30, 2024 | 265,133 | |||||
Ending balance at Jun. 30, 2024 | $ 7,400 | $ 3 | 0 | 7,457 | (60) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cash dividends declared (in dollars per share) | $ 0.19 | |||||
Beginning balance (in shares) at Mar. 31, 2024 | 266,000 | 266,415 | ||||
Beginning balance at Mar. 31, 2024 | $ 7,513 | [1] | $ 3 | 0 | 7,582 | (72) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Total comprehensive income | $ 531 | |||||
Common stock repurchases (in shares) | (5,400) | |||||
Common stock repurchases and excise tax | $ (750) | |||||
Ending balance (in shares) at Sep. 30, 2024 | 263,000 | 263,148 | ||||
Ending balance at Sep. 30, 2024 | $ 7,408 | $ 3 | 0 | 7,520 | (115) | |
Beginning balance (in shares) at Jun. 30, 2024 | 265,133 | |||||
Beginning balance at Jun. 30, 2024 | 7,400 | $ 3 | 0 | 7,457 | (60) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Total comprehensive income | 239 | 294 | (55) | |||
Stock-based compensation | 174 | 174 | ||||
Issuance of common stock (in shares) | 602 | |||||
Issuance of common stock | $ 24 | 24 | ||||
Common stock repurchases (in shares) | (2,600) | (2,587) | ||||
Common stock repurchases and excise tax | $ (378) | (198) | (180) | |||
Common stock repurchases and excise tax | (375) | |||||
Cash dividends declared ($0.19 per common share) | $ (51) | (51) | ||||
Ending balance (in shares) at Sep. 30, 2024 | 263,000 | 263,148 | ||||
Ending balance at Sep. 30, 2024 | $ 7,408 | $ 3 | $ 0 | $ 7,520 | $ (115) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cash dividends declared (in dollars per share) | $ 0.19 | |||||
[1]Derived from audited Consolidated Financial Statements. |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |||
Sep. 30, 2024 | Jun. 30, 2024 | Sep. 30, 2023 | Jun. 30, 2023 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividends declared (in dollars per share) | $ 0.19 | $ 0.19 | $ 0.19 | $ 0.19 |
Description Of Business And Bas
Description Of Business And Basis Of Presentation | 6 Months Ended |
Sep. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Description of Business And Basis Of Presentation | 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 the licenses within EA SPORTS FC and EA SPORTS Madden NFL). 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 full games. We are focusing on building games and experiences that grow the global online communities around our key franchises; deepening engagement through connecting interactive storytelling to key intellectual property; and building re-occurring revenue from scaling our live services and growth in our annualized sports titles, our console, PC and mobile catalog titles. 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, 2025 contains 52 weeks and ends on March 29, 2025. Our results of operations for the fiscal year ended March 31, 2024 contained 52 weeks and ended on March 30, 2024. Our results of operations for the three and six months ended September 30, 2024 contained 13 weeks and 26 weeks, respectively, and ended on September 28, 2024. Our results of operations for the three and six months ended September 30, 2023 contained 13 weeks and 26 weeks and ended on September 30, 2023. 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, 2024, as filed with the United States Securities and Exchange Commission (“SEC”) on May 22, 2024. Recently Issued Accounting Standard s In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The amendments in this update expand annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This update is effective for our annual report for fiscal year 2025, and interim periods thereafter, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact of this ASU on our Consolidated Financial Statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures . The amendments further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This ASU is effective for our annual report for fiscal year 2026, with early adoption permitted, and should be applied either prospectively or retrospectively. We are currently evaluating the timing of adoption and impact of this ASU on our Consolidated Financial Statements and related disclosures. |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Sep. 30, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | 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 September 30, 2024 and March 31, 2024, 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 September 30, 2024 Quoted Prices in Significant Significant Balance Sheet (Level 1) (Level 2) (Level 3) Assets Bank and time deposits $ 61 $ 61 $ — $ — Cash equivalents Money market funds 535 535 — — Cash equivalents Available-for-sale securities: Corporate bonds 140 — 140 — Short-term investments U.S. Treasury securities 91 91 — — Short-term investments and cash equivalents U.S. agency securities 4 — 4 — Short-term investments Commercial paper 78 — 78 — Short-term investments and cash equivalents Foreign government securities 5 — 5 — Short-term investments Asset-backed securities 43 — 43 — Short-term investments Certificates of deposit 19 — 19 — Short-term investments Foreign currency derivatives 16 — 16 — Other current assets and other assets Deferred compensation plan assets (a) 35 35 — — Other assets Total assets at fair value $ 1,027 $ 722 $ 305 $ — Liabilities Foreign currency derivatives $ 73 $ — $ 73 $ — Accounts payable, accrued, and other current liabilities and other liabilities Deferred compensation plan liabilities (a) 36 36 — — Other liabilities Total liabilities at fair value $ 109 $ 36 $ 73 $ — Fair Value Measurements at Reporting Date Using As of March 31, 2024 Quoted Prices in Significant Significant Balance Sheet (Level 1) (Level 2) (Level 3) Assets Bank and time deposits $ 58 $ 58 $ — $ — Cash equivalents Money market funds 1,038 1,038 — — Cash equivalents Available-for-sale securities: Corporate bonds 130 — 130 — Short-term investments U.S. Treasury securities 95 95 — — Short-term investments U.S. agency securities 9 — 9 — Short-term investments Commercial paper 74 — 74 — Short-term investments and cash equivalents Foreign government securities 8 — 8 — Short-term investments Asset-backed securities 41 — 41 — Short-term investments Certificates of deposit 13 — 13 — Short-term investments Foreign currency derivatives 29 — 29 — Other current assets and other assets Deferred compensation plan assets (a) 30 30 — — Other assets Total assets at fair value $ 1,525 $ 1,221 $ 304 $ — Liabilities Foreign currency derivatives $ 20 $ — $ 20 $ — Accounts payable, accrued, and other current liabilities and other liabilities Deferred compensation plan liabilities (a) 31 31 — — Other liabilities Total liabilities at fair value $ 51 $ 31 $ 20 $ — (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, 2024, for additional information regarding our Deferred Compensation Plan. |
Financial Instruments
Financial Instruments | 6 Months Ended |
Sep. 30, 2024 | |
Financial Instruments [Abstract] | |
Financial Instruments | FINANCIAL INSTRUMENTS Cash and Cash Equivalents As of September 30, 2024 and March 31, 2024, our cash and cash equivalents were $2,197 million and $2,900 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 September 30, 2024 and March 31, 2024 (in millions): As of September 30, 2024 As of March 31, 2024 Cost or Gross Unrealized Fair Cost or Gross Unrealized Fair Gains Losses Gains Losses Corporate bonds $ 139 $ 1 $ — $ 140 $ 130 $ — $ — $ 130 U.S. Treasury securities 84 — — 84 95 — — 95 U.S. agency securities 4 — — 4 9 — — 9 Commercial paper 71 — — 71 66 — — 66 Foreign government securities 5 — — 5 8 — — 8 Asset-backed securities 43 — — 43 41 — — 41 Certificates of deposit 19 — — 19 13 — — 13 Short-term investments $ 365 $ 1 $ — $ 366 $ 362 $ — $ — $ 362 The following table summarizes the amortized cost and fair value of our short-term investments, classified by stated maturity as of September 30, 2024 and March 31, 2024 (in millions): As of September 30, 2024 As of March 31, 2024 Amortized Fair Amortized Fair Short-term investments Due within 1 year $ 264 $ 264 $ 231 $ 231 Due 1 year through 5 years 96 97 126 126 Due after 5 years 5 5 5 5 Short-term investments $ 365 $ 366 $ 362 $ 362 |
Derivative Financial Instrument
Derivative Financial Instruments | 6 Months Ended |
Sep. 30, 2024 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments | 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 accounts payable, 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 accounts payable, 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 September 30, 2024 As of March 31, 2024 Notional Amount Fair Value Notional Amount Fair Value Asset Liability Asset Liability Forward contracts to purchase $ 305 $ 5 $ — $ 413 $ 1 $ 4 Forward contracts to sell $ 1,929 $ 2 $ 59 $ 2,329 $ 24 $ 11 The effects of cash flow hedge accounting in our Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2024 and 2023 are as follows (in millions): Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Net revenue Research and development Net revenue Research and development 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 $ 2,025 $ 648 $ 1,914 $ 602 $ 3,685 $ 1,277 $ 3,838 $ 1,198 Gains (losses) on foreign currency forward contracts designated as cash flow hedges $ (2) $ (1) $ 11 $ (2) $ 5 $ (3) $ 41 $ (7) 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 accounts payable, 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 September 30, 2024 As of March 31, 2024 Notional Amount Fair Value Notional Amount Fair Value Asset Liability Asset Liability Forward contracts to purchase $ 670 $ 9 $ — $ 452 $ — $ 5 Forward contracts to sell $ 977 $ — $ 14 $ 419 $ 4 $ — The effect of foreign currency forward contracts not designated as hedging instruments in our Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2024 and 2023 was as follows (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 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 $ 15 $ 14 $ 45 $ 28 Gains (losses) on foreign currency forward contracts not designated as hedging instruments $ (3) $ 13 $ 3 $ 16 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Sep. 30, 2024 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended September 30, 2024 and 2023 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 June 30, 2024 $ — $ 26 $ (86) $ (60) Other comprehensive income (loss) before reclassifications 1 (75) 16 (58) Amounts reclassified from accumulated other comprehensive income (loss) — 3 — 3 Total other comprehensive income (loss), net of tax 1 (72) 16 (55) Balances as of September 30, 2024 $ 1 $ (46) $ (70) $ (115) Unrealized Net Gains (Losses) on Available-for-Sale Securities Unrealized Net Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balances as of June 30, 2023 $ (1) $ (2) $ (72) $ (75) Other comprehensive income (loss) before reclassifications — 65 (15) 50 Amounts reclassified from accumulated other comprehensive income (loss) — (9) — (9) Total other comprehensive income (loss), net of tax — 56 (15) 41 Balances as of September 30, 2023 $ (1) $ 54 $ (87) $ (34) The changes in accumulated other comprehensive income (loss) by component, net of tax, for the six months ended September 30, 2024 and 2023 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, 2024 $ — $ 10 $ (82) $ (72) Other comprehensive income (loss) before reclassifications 1 (54) 12 (41) Amounts reclassified from accumulated other comprehensive income (loss) — (2) — (2) Total other comprehensive income (loss), net of tax 1 (56) 12 (43) Balances as of September 30, 2024 $ 1 $ (46) $ (70) $ (115) 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 — 75 (8) 67 Amounts reclassified from accumulated other comprehensive income (loss) — (34) — (34) Total other comprehensive income (loss), net of tax — 41 (8) 33 Balances as of September 30, 2023 $ (1) $ 54 $ (87) $ (34) The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and six months ended September 30, 2024 were as follows (in millions): Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Statement of Operations Classification Three Months Ended September 30, 2024 Six Months Ended September 30, 2024 (Gains) losses on foreign currency forward contracts designated as cash flow hedges Net revenue $ 2 $ (5) Research and development 1 3 Total net (gain) loss reclassified, net of tax $ 3 $ (2) The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and six months ended September 30, 2023 were as follows (in millions): Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Statement of Operations Classification Three Months Ended September 30, 2023 Six Months Ended September 30, 2023 (Gains) losses on foreign currency forward contracts designated as cash flow hedges Net revenue $ (11) $ (41) Research and development 2 7 Total net (gain) loss reclassified, net of tax $ (9) $ (34) |
Goodwill And Acquisition-Relate
Goodwill And Acquisition-Related Intangibles, Net | 3 Months Ended |
Sep. 30, 2024 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill And Acquisition-Related Intangibles, Net | GOODWILL AND ACQUISITION-RELATED INTANGIBLES, NET The changes in the carrying amount of goodwill for the six months ended September 30, 2024 are as follows (in millions): As of March 31, 2024 Activity Effects of Foreign Currency Translation As of September 30, 2024 Goodwill $ 5,747 $ — $ 2 $ 5,749 Accumulated impairment (368) — — (368) Total $ 5,379 $ — $ 2 $ 5,381 Acquisition-related intangibles consisted of the following (in millions): As of September 30, 2024 As of March 31, 2024 Gross Accumulated Acquisition- Gross Accumulated Acquisition- Developed and core technology $ 1,025 $ (852) $ 173 $ 1,025 $ (821) $ 204 Trade names and trademarks 502 (329) 173 502 (306) 196 Registered user base and other intangibles 56 (56) — 56 (56) — Total $ 1,583 $ (1,237) $ 346 $ 1,583 $ (1,183) $ 400 Amortization of intangibles for the three and six months ended September 30, 2024 and 2023 are classified in the Condensed Consolidated Statements of Operations as follows (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Cost of revenue $ 10 $ 15 $ 20 $ 31 Operating expenses 17 24 34 49 Total $ 27 $ 39 $ 54 $ 80 During the three and six months ended September 30, 2024 and 2023, there were no impairment charges recorded 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 September 30, 2024 and March 31, 2024, the weighted-average remaining useful life for acquisition-related intangible assets was approximately 3.6 years and 4.1 years, respectively. As of September 30, 2024, 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, 2025 (remaining six months) $ 53 2026 102 2027 83 2028 80 2029 28 Total $ 346 |
Restructuring Activities
Restructuring Activities | 6 Months Ended |
Sep. 30, 2024 | |
Restructuring and Related Activities [Abstract] | |
Restructuring Activities | RESTRUCTURING ACTIVITIES In fiscal year 2024, we announced a restructuring plan (the “2024 Restructuring Plan”) focused on aligning our portfolio, investments, and resources in support of our strategic priorities and growth initiatives. This plan reflects actions driven by portfolio rationalization, including costs associated with licensor commitments, as well as reductions in real estate and headcount. Under this plan, we estimate that we will incur approximately $125 million to $165 million in charges, consisting primarily of: • $50 million to $65 million associated with office space reductions; • $40 million to $55 million related to employee severance and employee-related costs; and • $35 million to $45 million in costs associated with licensor commitments. As of September 30, 2024, we expect the actions associated with this plan to be substantially completed by March 31, 2025. Since the inception of the 2024 Restructuring Plan through September 30, 2024, we have incurred net charges of $119 million. Restructuring activities under this plan as of September 30, 2024 were as follows (in millions): Licensor Commitments (a) Workforce (a) Office Space Reductions Total Charges to operations $ 30 $ 29 $ 2 $ 61 Charges settled in cash (17) (5) — (22) Impairment and other charges (13) — (2) (15) Liability as of March 31, 2024 $ — $ 24 $ — $ 24 Charges (credits) to operations 5 (2) 55 58 Charges settled in cash — (22) — (22) Impairment and other charges (5) — (55) (60) Liability as of September 30, 2024 $ — $ — $ — $ — (a) Charges are recorded within Restructuring in the Condensed Consolidated Statement of Operations. |
Royalties And Licenses
Royalties And Licenses | 6 Months Ended |
Sep. 30, 2024 | |
Royalties And Licenses [Abstract] | |
Royalties And Licenses | ROYALTIES AND LICENSES Our royalty expenses consist of payments to (1) content licensors, (2) independent software developers, and (3) co-publishing and/or 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 and six months ended September 30, 2024 and 2023, 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 September 30, 2024 As of March 31, 2024 Other current assets $ 89 $ 98 Other assets 17 24 Royalty-related assets $ 106 $ 122 At any given time, depending on the timing of our payments to our content licensors, independent software developers, co-publishing, and/or distribution affiliates, 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 accounts payable, accrued, and other current liabilities and other liabilities, consisted of (in millions): As of September 30, 2024 As of March 31, 2024 Accounts payable, accrued, and other current liabilities $ 207 $ 189 Other liabilities 52 20 Royalty-related liabilities $ 259 $ 209 As of September 30, 2024, we were committed to pay approximately $1,760 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 | 6 Months Ended |
Sep. 30, 2024 | |
Balance Sheet Related Disclosures [Abstract] | |
Balance Sheet Details | BALANCE SHEET DETAILS Property and Equipment, Net Property and equipment, net, as of September 30, 2024 and March 31, 2024 consisted of (in millions): As of September 30, 2024 As of March 31, 2024 Computer, equipment and software $ 1,001 $ 965 Buildings 378 376 Leasehold improvements 220 190 Equipment, furniture and fixtures, and other 104 92 Land 67 67 Construction in progress 31 47 1,801 1,737 Less: accumulated depreciation (1,223) (1,159) Property and equipment, net $ 578 $ 578 Depreciation expense associated with property and equipment was $51 million and $102 million for the three and six months ended September 30, 2024, respectively. Depreciation expense associated with property and equipment was $49 million and $98 million for the three and six months ended September 30, 2023, respectively. Accounts Payable, Accrued, and Other Current Liabilities Accounts payable, accrued, and other current liabilities as of September 30, 2024 and March 31, 2024 consisted of (in millions): As of September 30, 2024 As of March 31, 2024 Accounts payable $ 171 $ 110 Accrued compensation and benefits 360 476 Accrued royalties 207 189 Deferred net revenue (other) 79 59 Operating lease liabilities 69 66 Other accrued expenses 349 286 Sales returns and price protection reserves 77 90 Accounts payable, accrued, and other current liabilities $ 1,312 $ 1,276 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 September 30, 2024 and March 31, 2024 consisted of (in millions): As of September 30, 2024 As of March 31, 2024 Deferred net revenue (online-enabled games) $ 1,475 $ 1,814 Deferred net revenue (other) 79 59 Deferred net revenue (noncurrent) 81 85 Total deferred net revenue $ 1,635 $ 1,958 During the six months ended September 30, 2024 and 2023, we recognized $1,710 million and $1,762 million of revenue, respectively, that were included in the deferred net revenue balance at the beginning of the period. Remaining Performance Obligations |
Income Taxes
Income Taxes | 6 Months Ended |
Sep. 30, 2024 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | INCOME TAXES The provision for income taxes for the three and six months ended September 30, 2024 is based on our projected annual effective tax rate for fiscal year 2025, 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 and six months ended September 30, 2024 was 26 percent and 28 percent, respectively, as compared to negative 2 percent and 15 percent for the same periods in prior year. Our effective tax rate for the three months ended September 30, 2023 included one-time tax benefits related to the remeasurement of our Swiss deferred tax assets due to the change in statutory tax rate as well as the R&D capitalization guidance issued by the U.S. Treasury in that period. Excluding these one-time tax benefits, our effective tax rate for the three and six months ended September 30, 2023 would have been 25 percent and 27 percent, respectively. 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. 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 may result in an additional reduction of our gross unrecognized tax benefits. However, it is uncertain whether a complete resolution and settlement of such matters would also result in resolution of all related and unrelated U.S. positions for all applicable years. Therefore, it is not possible to provide a range of potential outcomes associated with a reversal of our gross unrecognized tax benefits. We expect changes in unrecognized tax benefits unrelated to the Altera opinion which may occur within the next twelve months to be insignificant. |
Financing Arrangements
Financing Arrangements | 6 Months Ended |
Sep. 30, 2024 | |
Debt Disclosure [Abstract] | |
Financing Arrangements | 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 September 30, 2024 As of March 31, 2024 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 (5) (5) Unamortized debt issuance costs (12) (13) Net carrying value of Senior Notes $ 1,883 $ 1,882 Fair value of Senior Notes (Level 2) $ 1,569 $ 1,515 As of September 30, 2024, the remaining life of the 2026 Notes, 2031 Notes and 2051 Notes is approximately 1.4 years, 6.4 years, and 26.4 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 September 30, 2024, 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 September 30, 2024, 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 and six months ended September 30, 2024 and 2023 that is included in interest and other income (expense), net on our Condensed Consolidated Statements of Operations (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Amortization of debt issuance costs $ — $ — $ (1) $ (1) Coupon interest expense (14) (14) (28) (28) Total interest expense $ (14) $ (14) $ (29) $ (29) |
Commitments And Contingencies
Commitments And Contingencies | 6 Months Ended |
Sep. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments And Contingencies | COMMITMENTS AND CONTINGENCIES Development, Celebrity, Professional Sports Organizations and Other 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 other 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 the cash payments for flat fees, minimum guaranteed payments, and service payments. The majority of these commitments are conditional upon performance by the counterparty. These payments and any related marketing and development commitments are included in the table below. The following table summarizes our minimum contractual obligations as of September 30, 2024 (in millions): Fiscal Years Ending March 31, 2025 (Remaining Total six mos.) 2026 2027 2028 2029 2030 Thereafter Unrecognized commitments Developer/licensor commitments $ 1,760 $ 188 $ 407 $ 481 $ 225 $ 218 $ 140 $ 101 Marketing commitments 1,265 82 291 295 211 122 149 115 Senior Notes interest 698 22 54 36 36 36 36 478 Operating lease imputed interest 55 6 10 9 7 6 5 12 Operating leases not yet commenced (a) 12 — — 1 1 1 1 8 Other purchase obligations 420 119 191 71 22 12 5 — Total unrecognized commitments 4,210 417 953 893 502 395 336 714 Recognized commitments Senior Notes principal and interest 1,906 6 400 — — — — 1,500 Operating leases 336 36 58 46 33 23 25 115 Transition Tax and other taxes 7 — 7 — — — — — Total recognized commitments 2,249 42 465 46 33 23 25 1,615 Total Commitments $ 6,459 $ 459 $ 1,418 $ 939 $ 535 $ 418 $ 361 $ 2,329 (a) As of September 30, 2024, we have entered into an office lease that is expected to commence in fiscal year 2026, with aggregate future lease payments of approximately $12 million and a lease term of 10 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 September 30, 2024; 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 September 30, 2024, we had a net liability for unrecognized tax benefits and an accrual for the payment of related interest totaling $552 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 | 6 Months Ended |
Sep. 30, 2024 | |
Equity [Abstract] | |
Stock-Based Compensation | 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 Employee Stock Purchase Plan (“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 ESPP . 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, 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 an insignificant number of stock options granted during the three and six months ended September 30, 2024 and 2023. The assumptions used in the Black-Scholes valuation model to estimate the value of our ESPP purchase rights were as follows: Three Months Ended 2024 2023 Risk-free interest rate 4.5 - 5.0% 5.4 - 5.5% Expected volatility 21 - 22% 23 - 24% Weighted-average volatility 21 % 24 % Expected term 6 - 12 months 6 - 12 months Expected dividends 0.6 % 0.8 % Stock Options The following table summarizes our stock option activity for the six months ended September 30, 2024: Options Weighted- Weighted- Aggregate Outstanding as of March 31, 2024 12 $ 64.00 Granted 2 137.55 Exercised (4) 88.68 Forfeited, cancelled or expired (1) 58.76 Outstanding as of September 30, 2024 9 $ 65.81 3.88 $ 1 Vested and expected to vest 9 $ 65.81 3.88 $ 1 Exercisable as of September 30, 2024 9 $ 65.81 3.88 $ 1 The aggregate intrinsic value represents the total pre-tax intrinsic value based on our closing stock price as of September 30, 2024, 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 six months ended September 30, 2024: Restricted Weighted- Outstanding as of March 31, 2024 7,480 $ 128.31 Granted 4,173 137.78 Vested (2,585) 129.89 Forfeited or cancelled (250) 130.26 Outstanding as of September 30, 2024 8,818 $ 132.28 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 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 six months ended September 30, 2024: Performance- Weighted- Outstanding as of March 31, 2024 836 $ 129.60 Granted 763 137.53 Vested (277) 133.67 Forfeited or cancelled (318) 129.29 Outstanding as of September 30, 2024 1,004 $ 134.60 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 for these awards are based on our total stockholder return (“TSR”) relative to the performance of either companies in the Nasdaq-100 or the S&P 500 Index over a three-year period (“Relative TSR”). Payout with respect to the Relative TSR component ranges from zero to 200 percent of the target number of Relative TSR units granted. Market-based restricted stock units granted in fiscal year 2025 also vest based on absolute TSR performance measured against pre-established goals over a three-year period (“Absolute TSR”). Payout with respect to the Absolute TSR component ranges from zero to 75 percent of the target number of units underlying the base award (which is comprised of Performance-Based Restricted Stock Units and Relative TSR units). We amortize the fair values of market-based restricted stock units over the requisite service 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 six months ended September 30, 2024: Market-Based Weighted- Outstanding as of March 31, 2024 354 $ 168.53 Granted 381 80.91 Vested (25) 173.25 Forfeited or cancelled (73) 173.25 Outstanding as of September 30, 2024 637 $ 115.43 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 Six Months Ended 2024 2023 2024 2023 Cost of revenue $ 4 $ 2 $ 8 $ 4 Research and development 122 113 223 206 Marketing and sales 16 13 28 24 General and administrative 32 27 58 51 Stock-based compensation expense $ 174 $ 155 $ 317 $ 285 During the three and six months ended September 30, 2024, we recognized $22 million and $42 million, respectively, of deferred income tax benefit related to our stock-based compensation expense. During the three and six months ended September 30, 2023, we recognized $21 million and $50 million, respectively, of deferred income tax benefit related to our stock-based compensation expense. As of September 30, 2024, our total unrecognized compensation cost related to stock options, restricted stock units, market-based restricted stock units, and performance-based restricted stock units was $1,047 million and is expected to be recognized over a weighted-average service period of 2.0 years. Of the $1,047 million of unrecognized compensation cost, $973 million relates to restricted stock units, $52 million relates to performance-based restricted stock units, $22 million relates to market-based restricted stock units. Stock Repurchase Program In August 2022, our Board of Directors authorized a program to repurchase up to $2.6 billion of our common stock. This program was terminated on May 8, 2024. In May 2024, the Company’s Audit Committee, upon delegation from the Company’s Board of Directors, authorized a new program to repurchase up to $5.0 billion of our common stock. This program supersedes and replaces the August 2022 program and expires on May 9, 2027. 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 of our common stock 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 and six months ended September 30, 2024 and 2023: August 2022 Program May 2024 Program Total (In millions) Shares Amount (a) Shares Amount (a) Shares Amount Three months ended September 30, 2024 — $ — 2.6 $ 375 2.6 $ 375 Six months ended September 30, 2024 1.2 $ 152 $ 4.2 $ 598 5.4 $ 750 Three months ended September 30, 2023 2.6 $ 325 — $ — 2.6 $ 325 Six months ended September 30, 2023 5.2 $ 650 — $ — 5.2 $ 650 (a) Amount excludes excise taxes. Accrued excise taxes are included in accounts payable, 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 |
Sep. 30, 2024 | |
Earnings Per Share Reconciliation [Abstract] | |
Earnings Per Share | 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 Six Months Ended (In millions, except per share amounts) 2024 2023 2024 2023 Net income $ 294 $ 399 $ 574 $ 801 Shares used to compute earnings per share: Weighted-average common stock outstanding — basic 264 271 265 272 Dilutive potential common shares related to stock award plans 2 1 2 1 Weighted-average common stock outstanding — diluted 266 272 267 273 Earnings per share: Basic $ 1.11 $ 1.47 $ 2.17 $ 2.94 Diluted $ 1.11 $ 1.47 $ 2.15 $ 2.93 Certain restricted stock units, market-based restricted stock units and performance-based restricted stock units were excluded from the treasury stock method computation of diluted shares as their inclusion would have had an antidilutive effect. For both the three and six months ended September 30, 2024 and 2023, one million such shares were excluded. |
Segment and Revenue Information
Segment and Revenue Information | 6 Months Ended |
Sep. 30, 2024 | |
Segment Reporting [Abstract] | |
Segment and Revenue Information | 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 September 30, 2024, 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 and six months ended September 30, 2024 and 2023 is presented below (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Net revenue by timing of recognition Revenue recognized at a point in time $ 918 $ 755 $ 1,289 $ 1,301 Revenue recognized over time 1,107 1,159 2,396 2,537 Net revenue $ 2,025 $ 1,914 $ 3,685 $ 3,838 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 period in which we offer to provide future update rights and/or online hosting for the game and related extra content sold (“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 a portion of 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 online-hosted services such as our Ultimate Team game mode, revenue allocated to the future update rights from licensing of software to third-parties, subscription services, and revenue recognized from third parties that publish games and services under a license to certain of our intellectual property assets. Information about our total net revenue by composition for the three and six months ended September 30, 2024 and 2023 is presented below (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Net revenue by composition Full game downloads $ 475 $ 346 $ 665 $ 647 Packaged goods 241 275 301 417 Full game 716 621 966 1,064 Live services and other 1,309 1,293 2,719 2,774 Net revenue $ 2,025 $ 1,914 $ 3,685 $ 3,838 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, and certain licensing revenue. Packaged goods primarily includes revenue from software that is sold physically through traditional channels such as brick and mortar retailers. 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 and six months ended September 30, 2024 and 2023 is presented below (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Platform net revenue Console $ 1,374 $ 1,187 $ 2,379 $ 2,354 PC and other 364 423 729 874 Mobile 287 304 577 610 Net revenue $ 2,025 $ 1,914 $ 3,685 $ 3,838 Information about our operations in North America and internationally for the three and six months ended September 30, 2024 and 2023 is presented below (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Net revenue from unaffiliated customers North America $ 899 $ 747 $ 1,515 $ 1,554 International 1,126 1,167 2,170 2,284 Net revenue $ 2,025 $ 1,914 $ 3,685 $ 3,838 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Pay vs Performance Disclosure | ||||
Net income | $ 294 | $ 399 | $ 574 | $ 801 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 6 Months Ended |
Sep. 30, 2024 shares | Sep. 30, 2024 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 | |
Laura Miele [Member] | ||
Trading Arrangements, by Individual | ||
Material Terms of Trading Arrangement | On August 2, 2024, Laura Miele, EA’s President of EA Entertainment & Technology, adopted a 10b5-1 Plan. Up to an aggregate 30,000 shares of our common stock may be sold under this plan with sales occurring periodically from the estimated selling start date of November 1, 2024 through October 31, 2025. | |
Name | Laura Miele | |
Title | President of EA Entertainment & Technology | |
Rule 10b5-1 Arrangement Adopted | true | |
Adoption Date | August 2, 2024 | |
Arrangement Duration | 364 days | |
Aggregate Available | 30,000 | 30,000 |
Andrew Wilson [Member] | ||
Trading Arrangements, by Individual | ||
Material Terms of Trading Arrangement | On August 6, 2024, Andrew Wilson, EA’s Chief Executive Officer, adopted a 10b5-1 Plan. Up to an aggregate 60,000 shares of our common stock may be sold under this plan with sales occurring periodically from the estimated selling start date of November 5, 2024 through October 31, 2025. 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 2025. | |
Name | Andrew Wilson | |
Title | Chief Executive Officer | |
Rule 10b5-1 Arrangement Adopted | true | |
Adoption Date | August 6, 2024 | |
Arrangement Duration | 360 days | |
Aggregate Available | 60,000 | 60,000 |
Stuart Canfield [Member] | ||
Trading Arrangements, by Individual | ||
Material Terms of Trading Arrangement | On August 26, 2024, Stuart Canfield, EA’s Chief Financial Officer, adopted a 10b5-1 Plan. Up to an aggregate 4,000 shares of our common stock may be sold under this plan with sales occurring periodically from the estimated selling start date of December 26, 2024 through August 29, 2025. | |
Name | Stuart Canfield | |
Title | Chief Financial Officer | |
Rule 10b5-1 Arrangement Adopted | true | |
Adoption Date | August 26, 2024 | |
Arrangement Duration | 246 days | |
Aggregate Available | 4,000 | 4,000 |
Description Of Business And B_2
Description Of Business And Basis Of Presentation (Policies) | 6 Months Ended |
Sep. 30, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | 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. |
Use of Estimates | 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. |
Recently Issued Accounting Standards | Recently Issued Accounting Standard s In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The amendments in this update expand annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. This update is effective for our annual report for fiscal year 2025, and interim periods thereafter, with early adoption permitted, and will be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the impact of this ASU on our Consolidated Financial Statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures . The amendments further enhance income tax disclosures, primarily through standardization and disaggregation of rate reconciliation categories and income taxes paid by jurisdiction. This ASU is effective for our annual report for fiscal year 2026, with early adoption permitted, and should be applied either prospectively or retrospectively. We are currently evaluating the timing of adoption and impact of this ASU on our Consolidated Financial Statements and related disclosures. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended | 12 Months Ended |
Sep. 30, 2024 | Mar. 31, 2024 | |
Fair Value Disclosures [Abstract] | ||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | As of September 30, 2024 and March 31, 2024, 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 September 30, 2024 Quoted Prices in Significant Significant Balance Sheet (Level 1) (Level 2) (Level 3) Assets Bank and time deposits $ 61 $ 61 $ — $ — Cash equivalents Money market funds 535 535 — — Cash equivalents Available-for-sale securities: Corporate bonds 140 — 140 — Short-term investments U.S. Treasury securities 91 91 — — Short-term investments and cash equivalents U.S. agency securities 4 — 4 — Short-term investments Commercial paper 78 — 78 — Short-term investments and cash equivalents Foreign government securities 5 — 5 — Short-term investments Asset-backed securities 43 — 43 — Short-term investments Certificates of deposit 19 — 19 — Short-term investments Foreign currency derivatives 16 — 16 — Other current assets and other assets Deferred compensation plan assets (a) 35 35 — — Other assets Total assets at fair value $ 1,027 $ 722 $ 305 $ — Liabilities Foreign currency derivatives $ 73 $ — $ 73 $ — Accounts payable, accrued, and other current liabilities and other liabilities Deferred compensation plan liabilities (a) 36 36 — — Other liabilities Total liabilities at fair value $ 109 $ 36 $ 73 $ — | Fair Value Measurements at Reporting Date Using As of March 31, 2024 Quoted Prices in Significant Significant Balance Sheet (Level 1) (Level 2) (Level 3) Assets Bank and time deposits $ 58 $ 58 $ — $ — Cash equivalents Money market funds 1,038 1,038 — — Cash equivalents Available-for-sale securities: Corporate bonds 130 — 130 — Short-term investments U.S. Treasury securities 95 95 — — Short-term investments U.S. agency securities 9 — 9 — Short-term investments Commercial paper 74 — 74 — Short-term investments and cash equivalents Foreign government securities 8 — 8 — Short-term investments Asset-backed securities 41 — 41 — Short-term investments Certificates of deposit 13 — 13 — Short-term investments Foreign currency derivatives 29 — 29 — Other current assets and other assets Deferred compensation plan assets (a) 30 30 — — Other assets Total assets at fair value $ 1,525 $ 1,221 $ 304 $ — Liabilities Foreign currency derivatives $ 20 $ — $ 20 $ — Accounts payable, accrued, and other current liabilities and other liabilities Deferred compensation plan liabilities (a) 31 31 — — Other liabilities Total liabilities at fair value $ 51 $ 31 $ 20 $ — (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, 2024, for additional information regarding our Deferred Compensation Plan. |
Financial Instruments (Tables)
Financial Instruments (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
Financial Instruments [Abstract] | |
Fair Value Of Short-Term Investments | Short-term investments consisted of the following as of September 30, 2024 and March 31, 2024 (in millions): As of September 30, 2024 As of March 31, 2024 Cost or Gross Unrealized Fair Cost or Gross Unrealized Fair Gains Losses Gains Losses Corporate bonds $ 139 $ 1 $ — $ 140 $ 130 $ — $ — $ 130 U.S. Treasury securities 84 — — 84 95 — — 95 U.S. agency securities 4 — — 4 9 — — 9 Commercial paper 71 — — 71 66 — — 66 Foreign government securities 5 — — 5 8 — — 8 Asset-backed securities 43 — — 43 41 — — 41 Certificates of deposit 19 — — 19 13 — — 13 Short-term investments $ 365 $ 1 $ — $ 366 $ 362 $ — $ — $ 362 |
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 September 30, 2024 and March 31, 2024 (in millions): As of September 30, 2024 As of March 31, 2024 Amortized Fair Amortized Fair Short-term investments Due within 1 year $ 264 $ 264 $ 231 $ 231 Due 1 year through 5 years 96 97 126 126 Due after 5 years 5 5 5 5 Short-term investments $ 365 $ 366 $ 362 $ 362 |
Derivative Financial Instrume_2
Derivative Financial Instruments (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
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 September 30, 2024 As of March 31, 2024 Notional Amount Fair Value Notional Amount Fair Value Asset Liability Asset Liability Forward contracts to purchase $ 305 $ 5 $ — $ 413 $ 1 $ 4 Forward contracts to sell $ 1,929 $ 2 $ 59 $ 2,329 $ 24 $ 11 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 September 30, 2024 As of March 31, 2024 Notional Amount Fair Value Notional Amount Fair Value Asset Liability Asset Liability Forward contracts to purchase $ 670 $ 9 $ — $ 452 $ — $ 5 Forward contracts to sell $ 977 $ — $ 14 $ 419 $ 4 $ — |
Derivative Instruments, Gain (Loss) | The effects of cash flow hedge accounting in our Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2024 and 2023 are as follows (in millions): Three Months Ended September 30, Six Months Ended September 30, 2024 2023 2024 2023 Net revenue Research and development Net revenue Research and development 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 $ 2,025 $ 648 $ 1,914 $ 602 $ 3,685 $ 1,277 $ 3,838 $ 1,198 Gains (losses) on foreign currency forward contracts designated as cash flow hedges $ (2) $ (1) $ 11 $ (2) $ 5 $ (3) $ 41 $ (7) The effect of foreign currency forward contracts not designated as hedging instruments in our Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2024 and 2023 was as follows (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 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 $ 15 $ 14 $ 45 $ 28 Gains (losses) on foreign currency forward contracts not designated as hedging instruments $ (3) $ 13 $ 3 $ 16 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Components of Accumulated Other Comprehensive Income (Loss) | The changes in accumulated other comprehensive income (loss) by component, net of tax, for the three months ended September 30, 2024 and 2023 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 June 30, 2024 $ — $ 26 $ (86) $ (60) Other comprehensive income (loss) before reclassifications 1 (75) 16 (58) Amounts reclassified from accumulated other comprehensive income (loss) — 3 — 3 Total other comprehensive income (loss), net of tax 1 (72) 16 (55) Balances as of September 30, 2024 $ 1 $ (46) $ (70) $ (115) Unrealized Net Gains (Losses) on Available-for-Sale Securities Unrealized Net Gains (Losses) on Derivative Instruments Foreign Currency Translation Adjustments Total Balances as of June 30, 2023 $ (1) $ (2) $ (72) $ (75) Other comprehensive income (loss) before reclassifications — 65 (15) 50 Amounts reclassified from accumulated other comprehensive income (loss) — (9) — (9) Total other comprehensive income (loss), net of tax — 56 (15) 41 Balances as of September 30, 2023 $ (1) $ 54 $ (87) $ (34) The changes in accumulated other comprehensive income (loss) by component, net of tax, for the six months ended September 30, 2024 and 2023 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, 2024 $ — $ 10 $ (82) $ (72) Other comprehensive income (loss) before reclassifications 1 (54) 12 (41) Amounts reclassified from accumulated other comprehensive income (loss) — (2) — (2) Total other comprehensive income (loss), net of tax 1 (56) 12 (43) Balances as of September 30, 2024 $ 1 $ (46) $ (70) $ (115) 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 — 75 (8) 67 Amounts reclassified from accumulated other comprehensive income (loss) — (34) — (34) Total other comprehensive income (loss), net of tax — 41 (8) 33 Balances as of September 30, 2023 $ (1) $ 54 $ (87) $ (34) |
Reclassification out of Accumulated Other Comprehensive Income (Loss) | The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and six months ended September 30, 2024 were as follows (in millions): Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Statement of Operations Classification Three Months Ended September 30, 2024 Six Months Ended September 30, 2024 (Gains) losses on foreign currency forward contracts designated as cash flow hedges Net revenue $ 2 $ (5) Research and development 1 3 Total net (gain) loss reclassified, net of tax $ 3 $ (2) The effects on net income of amounts reclassified from accumulated other comprehensive income (loss) for the three and six months ended September 30, 2023 were as follows (in millions): Amount Reclassified From Accumulated Other Comprehensive Income (Loss) Statement of Operations Classification Three Months Ended September 30, 2023 Six Months Ended September 30, 2023 (Gains) losses on foreign currency forward contracts designated as cash flow hedges Net revenue $ (11) $ (41) Research and development 2 7 Total net (gain) loss reclassified, net of tax $ (9) $ (34) |
Goodwill And Acquisition-Rela_2
Goodwill And Acquisition-Related Intangibles, Net (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
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 six months ended September 30, 2024 are as follows (in millions): As of March 31, 2024 Activity Effects of Foreign Currency Translation As of September 30, 2024 Goodwill $ 5,747 $ — $ 2 $ 5,749 Accumulated impairment (368) — — (368) Total $ 5,379 $ — $ 2 $ 5,381 |
Schedule Of Acquisition-Related Intangibles | Acquisition-related intangibles consisted of the following (in millions): As of September 30, 2024 As of March 31, 2024 Gross Accumulated Acquisition- Gross Accumulated Acquisition- Developed and core technology $ 1,025 $ (852) $ 173 $ 1,025 $ (821) $ 204 Trade names and trademarks 502 (329) 173 502 (306) 196 Registered user base and other intangibles 56 (56) — 56 (56) — Total $ 1,583 $ (1,237) $ 346 $ 1,583 $ (1,183) $ 400 |
Schedule Of Amoritization Of Intangibles | Amortization of intangibles for the three and six months ended September 30, 2024 and 2023 are classified in the Condensed Consolidated Statements of Operations as follows (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Cost of revenue $ 10 $ 15 $ 20 $ 31 Operating expenses 17 24 34 49 Total $ 27 $ 39 $ 54 $ 80 |
Schedule Of Future Amortization Of Acquisition-Related Intangibles | As of September 30, 2024, 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, 2025 (remaining six months) $ 53 2026 102 2027 83 2028 80 2029 28 Total $ 346 |
Restructuring Activities (Table
Restructuring Activities (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
Restructuring and Related Activities [Abstract] | |
Restructuring and Related Costs | Restructuring activities under this plan as of September 30, 2024 were as follows (in millions): Licensor Commitments (a) Workforce (a) Office Space Reductions Total Charges to operations $ 30 $ 29 $ 2 $ 61 Charges settled in cash (17) (5) — (22) Impairment and other charges (13) — (2) (15) Liability as of March 31, 2024 $ — $ 24 $ — $ 24 Charges (credits) to operations 5 (2) 55 58 Charges settled in cash — (22) — (22) Impairment and other charges (5) — (55) (60) Liability as of September 30, 2024 $ — $ — $ — $ — (a) Charges are recorded within Restructuring in the Condensed Consolidated Statement of Operations. |
Royalties And Licenses (Tables)
Royalties And Licenses (Tables) | 3 Months Ended | 6 Months Ended |
Sep. 30, 2024 | Sep. 30, 2024 | |
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 September 30, 2024 As of March 31, 2024 Other current assets $ 89 $ 98 Other assets 17 24 Royalty-related assets $ 106 $ 122 | |
Schedule Of Royalty-Related Liabilities | As of September 30, 2024 As of March 31, 2024 Accounts payable, accrued, and other current liabilities $ 207 $ 189 Other liabilities 52 20 Royalty-related liabilities $ 259 $ 209 |
Balance Sheet Details (Tables)
Balance Sheet Details (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
Balance Sheet Related Disclosures [Abstract] | |
Property And Equipment, Net Schedule | Property and equipment, net, as of September 30, 2024 and March 31, 2024 consisted of (in millions): As of September 30, 2024 As of March 31, 2024 Computer, equipment and software $ 1,001 $ 965 Buildings 378 376 Leasehold improvements 220 190 Equipment, furniture and fixtures, and other 104 92 Land 67 67 Construction in progress 31 47 1,801 1,737 Less: accumulated depreciation (1,223) (1,159) Property and equipment, net $ 578 $ 578 |
Accrued And Other Current Liabilities Schedule | Accounts payable, accrued, and other current liabilities as of September 30, 2024 and March 31, 2024 consisted of (in millions): As of September 30, 2024 As of March 31, 2024 Accounts payable $ 171 $ 110 Accrued compensation and benefits 360 476 Accrued royalties 207 189 Deferred net revenue (other) 79 59 Operating lease liabilities 69 66 Other accrued expenses 349 286 Sales returns and price protection reserves 77 90 Accounts payable, accrued, and other current liabilities $ 1,312 $ 1,276 |
Deferred Revenue, by Arrangement, Disclosure | Deferred net revenue as of September 30, 2024 and March 31, 2024 consisted of (in millions): As of September 30, 2024 As of March 31, 2024 Deferred net revenue (online-enabled games) $ 1,475 $ 1,814 Deferred net revenue (other) 79 59 Deferred net revenue (noncurrent) 81 85 Total deferred net revenue $ 1,635 $ 1,958 |
Financing Arrangements (Tables)
Financing Arrangements (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
Debt Disclosure [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 September 30, 2024 As of March 31, 2024 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 (5) (5) Unamortized debt issuance costs (12) (13) Net carrying value of Senior Notes $ 1,883 $ 1,882 Fair value of Senior Notes (Level 2) $ 1,569 $ 1,515 |
Interest and Other Income | The following table summarizes our interest expense recognized for the three and six months ended September 30, 2024 and 2023 that is included in interest and other income (expense), net on our Condensed Consolidated Statements of Operations (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Amortization of debt issuance costs $ — $ — $ (1) $ (1) Coupon interest expense (14) (14) (28) (28) Total interest expense $ (14) $ (14) $ (29) $ (29) |
Commitments And Contingencies (
Commitments And Contingencies (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
Commitments and Contingencies Disclosure [Abstract] | |
Minimum Contractual Obligations | The following table summarizes our minimum contractual obligations as of September 30, 2024 (in millions): Fiscal Years Ending March 31, 2025 (Remaining Total six mos.) 2026 2027 2028 2029 2030 Thereafter Unrecognized commitments Developer/licensor commitments $ 1,760 $ 188 $ 407 $ 481 $ 225 $ 218 $ 140 $ 101 Marketing commitments 1,265 82 291 295 211 122 149 115 Senior Notes interest 698 22 54 36 36 36 36 478 Operating lease imputed interest 55 6 10 9 7 6 5 12 Operating leases not yet commenced (a) 12 — — 1 1 1 1 8 Other purchase obligations 420 119 191 71 22 12 5 — Total unrecognized commitments 4,210 417 953 893 502 395 336 714 Recognized commitments Senior Notes principal and interest 1,906 6 400 — — — — 1,500 Operating leases 336 36 58 46 33 23 25 115 Transition Tax and other taxes 7 — 7 — — — — — Total recognized commitments 2,249 42 465 46 33 23 25 1,615 Total Commitments $ 6,459 $ 459 $ 1,418 $ 939 $ 535 $ 418 $ 361 $ 2,329 (a) |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
Equity [Abstract] | |
Schedule Of Share-Based Payment Award, Restricted Stock Purchase Plan, Valuation Assumptions | The assumptions used in the Black-Scholes valuation model to estimate the value of our ESPP purchase rights were as follows: Three Months Ended 2024 2023 Risk-free interest rate 4.5 - 5.0% 5.4 - 5.5% Expected volatility 21 - 22% 23 - 24% Weighted-average volatility 21 % 24 % Expected term 6 - 12 months 6 - 12 months Expected dividends 0.6 % 0.8 % |
Schedule of Repurchase Agreements | The following table summarizes total shares repurchased during the three and six months ended September 30, 2024 and 2023: August 2022 Program May 2024 Program Total (In millions) Shares Amount (a) Shares Amount (a) Shares Amount Three months ended September 30, 2024 — $ — 2.6 $ 375 2.6 $ 375 Six months ended September 30, 2024 1.2 $ 152 $ 4.2 $ 598 5.4 $ 750 Three months ended September 30, 2023 2.6 $ 325 — $ — 2.6 $ 325 Six months ended September 30, 2023 5.2 $ 650 — $ — 5.2 $ 650 (a) Amount excludes excise taxes. Accrued excise taxes are included in accounts payable, 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 six months ended September 30, 2024: Options Weighted- Weighted- Aggregate Outstanding as of March 31, 2024 12 $ 64.00 Granted 2 137.55 Exercised (4) 88.68 Forfeited, cancelled or expired (1) 58.76 Outstanding as of September 30, 2024 9 $ 65.81 3.88 $ 1 Vested and expected to vest 9 $ 65.81 3.88 $ 1 Exercisable as of September 30, 2024 9 $ 65.81 3.88 $ 1 The following table summarizes our restricted stock units activity for the six months ended September 30, 2024: Restricted Weighted- Outstanding as of March 31, 2024 7,480 $ 128.31 Granted 4,173 137.78 Vested (2,585) 129.89 Forfeited or cancelled (250) 130.26 Outstanding as of September 30, 2024 8,818 $ 132.28 The following table summarizes our performance-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the six months ended September 30, 2024: Performance- Weighted- Outstanding as of March 31, 2024 836 $ 129.60 Granted 763 137.53 Vested (277) 133.67 Forfeited or cancelled (318) 129.29 Outstanding as of September 30, 2024 1,004 $ 134.60 The following table summarizes our market-based restricted stock unit activity, presented with the maximum number of shares that could potentially vest, for the six months ended September 30, 2024: Market-Based Weighted- Outstanding as of March 31, 2024 354 $ 168.53 Granted 381 80.91 Vested (25) 173.25 Forfeited or cancelled (73) 173.25 Outstanding as of September 30, 2024 637 $ 115.43 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 Six Months Ended 2024 2023 2024 2023 Cost of revenue $ 4 $ 2 $ 8 $ 4 Research and development 122 113 223 206 Marketing and sales 16 13 28 24 General and administrative 32 27 58 51 Stock-based compensation expense $ 174 $ 155 $ 317 $ 285 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
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 Six Months Ended (In millions, except per share amounts) 2024 2023 2024 2023 Net income $ 294 $ 399 $ 574 $ 801 Shares used to compute earnings per share: Weighted-average common stock outstanding — basic 264 271 265 272 Dilutive potential common shares related to stock award plans 2 1 2 1 Weighted-average common stock outstanding — diluted 266 272 267 273 Earnings per share: Basic $ 1.11 $ 1.47 $ 2.17 $ 2.94 Diluted $ 1.11 $ 1.47 $ 2.15 $ 2.93 |
Segment and Revenue Informati_2
Segment and Revenue Information (Tables) | 6 Months Ended |
Sep. 30, 2024 | |
Segment Reporting [Abstract] | |
Disaggregation of Revenue | Information about our total net revenue by timing of recognition for the three and six months ended September 30, 2024 and 2023 is presented below (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Net revenue by timing of recognition Revenue recognized at a point in time $ 918 $ 755 $ 1,289 $ 1,301 Revenue recognized over time 1,107 1,159 2,396 2,537 Net revenue $ 2,025 $ 1,914 $ 3,685 $ 3,838 |
Net Revenue By Revenue Composition | Information about our total net revenue by composition for the three and six months ended September 30, 2024 and 2023 is presented below (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Net revenue by composition Full game downloads $ 475 $ 346 $ 665 $ 647 Packaged goods 241 275 301 417 Full game 716 621 966 1,064 Live services and other 1,309 1,293 2,719 2,774 Net revenue $ 2,025 $ 1,914 $ 3,685 $ 3,838 |
Net Revenue by Platform | Information about our total net revenue by platform for the three and six months ended September 30, 2024 and 2023 is presented below (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Platform net revenue Console $ 1,374 $ 1,187 $ 2,379 $ 2,354 PC and other 364 423 729 874 Mobile 287 304 577 610 Net revenue $ 2,025 $ 1,914 $ 3,685 $ 3,838 |
Net Revenue By Geographic Area | Information about our operations in North America and internationally for the three and six months ended September 30, 2024 and 2023 is presented below (in millions): Three Months Ended Six Months Ended 2024 2023 2024 2023 Net revenue from unaffiliated customers North America $ 899 $ 747 $ 1,515 $ 1,554 International 1,126 1,167 2,170 2,284 Net revenue $ 2,025 $ 1,914 $ 3,685 $ 3,838 |
Fair Value Measurements - Asset
Fair Value Measurements - Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | $ 366 | $ 362 | [1] |
Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 140 | 130 | |
U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 84 | 95 | |
U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 4 | 9 | |
Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 71 | 66 | |
Foreign government securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 5 | 8 | |
Asset-backed securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 43 | 41 | |
Certificates of deposit | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 19 | 13 | |
(Level 1) | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Total assets at fair value | 722 | 1,221 | |
Total liabilities at fair value | 36 | 31 | |
(Level 2) | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Total assets at fair value | 305 | 304 | |
Total liabilities at fair value | 73 | 20 | |
(Level 3) | |||
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 | (Level 1) | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 1) | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 91 | 95 | |
Short-term investments | (Level 1) | U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 1) | Foreign government securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 1) | Asset-backed securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Asset-backed securities | 0 | 0 | |
Short-term investments | (Level 1) | Certificates of deposit | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 2) | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 140 | 130 | |
Short-term investments | (Level 2) | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 2) | U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 4 | 9 | |
Short-term investments | (Level 2) | Foreign government securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 5 | 8 | |
Short-term investments | (Level 2) | Asset-backed securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Asset-backed securities | 43 | 41 | |
Short-term investments | (Level 2) | Certificates of deposit | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 19 | 13 | |
Short-term investments | (Level 3) | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 3) | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 3) | U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 3) | Foreign government securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 3) | Asset-backed securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Asset-backed securities | 0 | 0 | |
Short-term investments | (Level 3) | Certificates of deposit | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 1) | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Short-term investments | (Level 2) | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 78 | 74 | |
Short-term investments | (Level 3) | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 0 | 0 | |
Cash equivalents | (Level 1) | Bank and time deposits | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 61 | 58 | |
Cash equivalents | (Level 1) | Money market funds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 535 | 1,038 | |
Cash equivalents | (Level 2) | Bank and time deposits | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 0 | 0 | |
Cash equivalents | (Level 2) | Money market funds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 0 | 0 | |
Cash equivalents | (Level 3) | Bank and time deposits | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 0 | 0 | |
Cash equivalents | (Level 3) | Money market funds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 0 | 0 | |
Other current assets and other assets | (Level 1) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Foreign currency derivatives | 0 | 0 | |
Other current assets and other assets | (Level 2) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Foreign currency derivatives | 16 | 29 | |
Other current assets and other assets | (Level 3) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Foreign currency derivatives | 0 | 0 | |
Other assets | (Level 1) | Deferred compensation plan assets | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, deferred compensation plan | 35 | 30 | |
Other assets | (Level 2) | Deferred compensation plan assets | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, deferred compensation plan | 0 | 0 | |
Other assets | (Level 3) | Deferred compensation plan assets | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, deferred compensation plan | 0 | 0 | |
Accounts payable, accrued, and other current liabilities and other liabilities | (Level 1) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, foreign currency derivatives, liabilities | 0 | 0 | |
Accounts payable, accrued, and other current liabilities and other liabilities | (Level 2) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, foreign currency derivatives, liabilities | 73 | 20 | |
Accounts payable, accrued, and other current liabilities and other liabilities | (Level 3) | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, foreign currency derivatives, liabilities | 0 | 0 | |
Other liabilities | (Level 1) | Deferred Compensation Plan Liabilities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, deferred compensation plan | 36 | 31 | |
Other liabilities | (Level 2) | Deferred Compensation Plan Liabilities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, deferred compensation plan | 0 | 0 | |
Other liabilities | (Level 3) | Deferred Compensation Plan Liabilities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, deferred compensation plan | 0 | 0 | |
Fair Value | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Total assets at fair value | 1,027 | 1,525 | |
Total liabilities at fair value | 109 | 51 | |
Fair Value | Short-term investments | Corporate bonds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 140 | 130 | |
Fair Value | Short-term investments | U.S. Treasury securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 91 | 95 | |
Fair Value | Short-term investments | U.S. agency securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 4 | 9 | |
Fair Value | Short-term investments | Foreign government securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 5 | 8 | |
Fair Value | Short-term investments | Asset-backed securities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Asset-backed securities | 43 | 41 | |
Fair Value | Short-term investments | Certificates of deposit | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 19 | 13 | |
Fair Value | Short-term investments | Commercial paper | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Short-term investments | 78 | 74 | |
Fair Value | Cash equivalents | Bank and time deposits | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 61 | 58 | |
Fair Value | Cash equivalents | Money market funds | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, Cash equivalents | 535 | 1,038 | |
Fair Value | Other current assets and other assets | Foreign currency derivatives | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Foreign currency derivatives | 16 | 29 | |
Fair Value | Other assets | Deferred compensation plan assets | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, deferred compensation plan | 35 | 30 | |
Fair Value | Accounts payable, 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 | 73 | 20 | |
Fair Value | Other liabilities | Deferred Compensation Plan Liabilities | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions | |||
Fair value, deferred compensation plan | $ 36 | $ 31 | |
[1]Derived from audited Consolidated Financial Statements. |
Financial Instruments - Narrati
Financial Instruments - Narrative (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | |
Financial Instruments [Abstract] | |||
Cash and cash equivalents | $ 2,197 | $ 2,900 | [1] |
[1]Derived from audited Consolidated Financial Statements. |
Financial Instruments - Fair Va
Financial Instruments - Fair Value Of Short-Term Investments (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | |
Financial Instruments | |||
Cost or Amortized Cost | $ 365 | $ 362 | |
Gross Unrealized Gains | 1 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 366 | 362 | [1] |
Corporate bonds | |||
Financial Instruments | |||
Cost or Amortized Cost | 139 | 130 | |
Gross Unrealized Gains | 1 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 140 | 130 | |
U.S. Treasury securities | |||
Financial Instruments | |||
Cost or Amortized Cost | 84 | 95 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 84 | 95 | |
U.S. agency securities | |||
Financial Instruments | |||
Cost or Amortized Cost | 4 | 9 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 4 | 9 | |
Commercial paper | |||
Financial Instruments | |||
Cost or Amortized Cost | 71 | 66 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 71 | 66 | |
Foreign government securities | |||
Financial Instruments | |||
Cost or Amortized Cost | 5 | 8 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 5 | 8 | |
Asset-backed securities | |||
Financial Instruments | |||
Cost or Amortized Cost | 43 | 41 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | 43 | 41 | |
Certificates of deposit | |||
Financial Instruments | |||
Cost or Amortized Cost | 19 | 13 | |
Gross Unrealized Gains | 0 | 0 | |
Gross Unrealized Losses | 0 | 0 | |
Fair Value | $ 19 | $ 13 | |
[1]Derived from audited Consolidated Financial Statements. |
Financial Instruments - Fair _2
Financial Instruments - Fair Value Of Short-Term Investments By Stated Maturity Date Schedule (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | |
Financial Instruments [Abstract] | |||
Due in 1 year or less, Amortized Cost | $ 264 | $ 231 | |
Due in 1 year or less, Fair Value | 264 | 231 | |
Due 1 year through 5 years, Amortized Cost | 96 | 126 | |
Due 1 year through 5 years, Fair Value | 97 | 126 | |
Due after 5 years, Amortized Cost | 5 | 5 | |
Due after 5 years, Fair Value | 5 | 5 | |
Amortized Cost | 365 | 362 | |
Fair Value | $ 366 | $ 362 | [1] |
[1]Derived from audited Consolidated Financial Statements. |
Derivative Financial Instrume_3
Derivative Financial Instruments - Narrative (Details) | 6 Months Ended |
Sep. 30, 2024 | |
Designated as Hedging Instrument | |
Derivative | |
Maximum remaining maturity of foreign currency derivatives | 18 months |
Not Designated as Hedging Instrument | |
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 | Sep. 30, 2024 | Mar. 31, 2024 |
Forward contracts to purchase | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value of foreign currency contracts outstanding, Assets | $ 5 | $ 1 |
Fair value of foreign currency contracts outstanding, Liabilities | 0 | 4 |
Forward contracts to sell | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Fair value of foreign currency contracts outstanding, Assets | 2 | 24 |
Fair value of foreign currency contracts outstanding, Liabilities | 59 | 11 |
Designated as Hedging Instrument | Forward contracts to purchase | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | 305 | 413 |
Designated as Hedging Instrument | Forward contracts to sell | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | 1,929 | 2,329 |
United States Dollar | Not Designated as Hedging Instrument | Forward contracts to purchase | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | 670 | 452 |
United States Dollar | Not Designated as Hedging Instrument | Forward contracts to sell | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Notional Amount | 977 | 419 |
Balance Sheet Hedging | Not Designated as Hedging Instrument | Forward contracts to purchase | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Current | 9 | 0 |
Derivative Liability, Current | 0 | 5 |
Balance Sheet Hedging | Not Designated as Hedging Instrument | Forward contracts to sell | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Asset, Current | 0 | 4 |
Derivative Liability, Current | $ 14 | $ 0 |
Derivative Financial Instrume_5
Derivative Financial Instruments - Location of Income (Expense) Recognized in Income on Derivative, Non-Designated Hedging Instruments (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Derivative | ||||
Net revenue | $ 2,025 | $ 1,914 | $ 3,685 | $ 3,838 |
Research and development | 648 | 602 | 1,277 | 1,198 |
Interest and other income (expense), net | 15 | 14 | 45 | 28 |
Net revenue | ||||
Derivative | ||||
Gains (losses) on foreign currency forward contracts designated as cash flow hedges | (2) | 11 | 5 | 41 |
Research and development | ||||
Derivative | ||||
Gains (losses) on foreign currency forward contracts designated as cash flow hedges | (1) | (2) | (3) | (7) |
Interest and other income (expense), net | ||||
Derivative | ||||
Gains (losses) on foreign currency forward contracts not designated as hedging instruments | $ (3) | $ 13 | $ 3 | $ 16 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in AOCI (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | ||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning balance | $ (60) | $ (75) | $ (72) | [1] | $ (67) |
Other comprehensive income (loss) before reclassifications | (58) | 50 | (41) | 67 | |
Amounts reclassified from accumulated other comprehensive income (loss) | 3 | (9) | (2) | (34) | |
Total other comprehensive income (loss), net of tax | (55) | 41 | (43) | 33 | |
Ending balance | (115) | (34) | (115) | (34) | |
Unrealized Net Gains (Losses) on Available-for-Sale Securities | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning balance | 0 | (1) | 0 | (1) | |
Other comprehensive income (loss) before reclassifications | 1 | 0 | 1 | 0 | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 | |
Total other comprehensive income (loss), net of tax | 1 | 0 | 1 | 0 | |
Ending balance | 1 | (1) | 1 | (1) | |
Unrealized Net Gains (Losses) on Derivative Instruments | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning balance | 26 | (2) | 10 | 13 | |
Other comprehensive income (loss) before reclassifications | (75) | 65 | (54) | 75 | |
Amounts reclassified from accumulated other comprehensive income (loss) | 3 | (9) | (2) | (34) | |
Total other comprehensive income (loss), net of tax | (72) | 56 | (56) | 41 | |
Ending balance | (46) | 54 | (46) | 54 | |
Foreign Currency Translation Adjustments | |||||
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | |||||
Beginning balance | (86) | (72) | (82) | (79) | |
Other comprehensive income (loss) before reclassifications | 16 | (15) | 12 | (8) | |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | 0 | 0 | 0 | |
Total other comprehensive income (loss), net of tax | 16 | (15) | 12 | (8) | |
Ending balance | $ (70) | $ (87) | $ (70) | $ (87) | |
[1]Derived from audited Consolidated Financial Statements. |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive Income (Loss) - Schedule of Amounts Reclassed from AOCI (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 3 | $ (9) | $ (2) | $ (34) |
Unrealized Net Gains (Losses) on Derivative Instruments | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | 3 | (9) | (2) | (34) |
Unrealized Net Gains (Losses) on Derivative Instruments | Net revenue | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | 2 | (11) | (5) | (41) |
Unrealized Net Gains (Losses) on Derivative Instruments | Research and development | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Amounts reclassified from accumulated other comprehensive income (loss) | $ 1 | $ 2 | $ 3 | $ 7 |
Goodwill And Acquisition-Rela_3
Goodwill And Acquisition-Related Intangibles, Net - Schedule Of Changes In The Carrying Amount Of Goodwill (Details) $ in Millions | 6 Months Ended | |
Sep. 30, 2024 USD ($) | ||
Goodwill [Roll Forward] | ||
Goodwill, gross, beginning balance | $ 5,747 | |
Accumulated impairment, beginning balance | (368) | |
Goodwill, net, beginning balance | 5,379 | [1] |
Goodwill acquired | 0 | |
Effects of foreign currency translation | 2 | |
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_4
Goodwill And Acquisition-Related Intangibles, Net - Schedule Of Acquisition-Related Intangibles (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 |
Finite-Lived Intangible Assets | ||
Gross Carrying Amount | $ 1,583 | $ 1,583 |
Accumulated Amortization | (1,237) | (1,183) |
Acquisition- Related Intangibles, Net | 346 | 400 |
Developed and core technology | ||
Finite-Lived Intangible Assets | ||
Gross Carrying Amount | 1,025 | 1,025 |
Accumulated Amortization | (852) | (821) |
Acquisition- Related Intangibles, Net | 173 | 204 |
Trade names and trademarks | ||
Finite-Lived Intangible Assets | ||
Gross Carrying Amount | 502 | 502 |
Accumulated Amortization | (329) | (306) |
Acquisition- Related Intangibles, Net | 173 | 196 |
Registered user base and other intangibles | ||
Finite-Lived Intangible Assets | ||
Gross Carrying Amount | 56 | 56 |
Accumulated Amortization | (56) | (56) |
Acquisition- Related Intangibles, Net | $ 0 | $ 0 |
Goodwill And Acquisition-Rela_5
Goodwill And Acquisition-Related Intangibles, Net - Schedule Of Amortization Of Intangible Assets (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | $ 17 | $ 24 | $ 34 | $ 49 |
Cost of revenue | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | 10 | 15 | 20 | 31 |
Operating expenses | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | 17 | 24 | 34 | 49 |
Total | ||||
Finite-Lived Intangible Assets [Line Items] | ||||
Amortization of intangibles | $ 27 | $ 39 | $ 54 | $ 80 |
Goodwill And Acquisition-Rela_6
Goodwill And Acquisition-Related Intangibles, Net - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | Mar. 31, 2024 | |
Finite-Lived Intangible Assets | |||||
Impairment of intangible assets (excluding goodwill) | $ 0 | $ 0 | $ 0 | $ 0 | |
Minimum | |||||
Finite-Lived Intangible Assets | |||||
Finite-lived intangible asset, useful life | 2 years | 2 years | |||
Acquired finite-lived intangible assets, weighted average useful life | 3 years 7 months 6 days | ||||
Maximum | |||||
Finite-Lived Intangible Assets | |||||
Finite-lived intangible asset, useful life | 7 years | 7 years | |||
Acquired finite-lived intangible assets, weighted average useful life | 4 years 1 month 6 days |
Goodwill And Acquisition-Rela_7
Goodwill And Acquisition-Related Intangibles, Net - Schedule Of Future Amortization Of Acquisition-Related Intangibles (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 |
Finite-Lived Intangible Assets | ||
2025 (remaining six months) | $ 53 | |
2026 | 102 | |
2027 | 83 | |
2028 | 80 | |
2029 | 28 | |
Acquisition- Related Intangibles, Net | 346 | $ 400 |
Finite-Lived Intangible Assets, Amortization Expense, Remainder of Fiscal Year through after Year Five | ||
Finite-Lived Intangible Assets | ||
Acquisition- Related Intangibles, Net | $ 346 |
Restructuring Activities - Narr
Restructuring Activities - Narrative (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | 18 Months Ended |
Sep. 30, 2024 | Mar. 31, 2024 | Sep. 30, 2024 | |
Restructuring Cost and Reserve [Line Items] | |||
Restructuring costs | $ 119 | ||
Restructuring reserve | 0 | $ 24 | $ 0 |
Charges to operations | 58 | 61 | |
Office Space Reductions | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring reserve | 0 | 0 | 0 |
Charges to operations | 55 | 2 | 57 |
Workforce | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring reserve | 0 | 24 | 0 |
Charges to operations | (2) | 29 | |
Licensor Commitments | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring reserve | 0 | 0 | 0 |
Charges to operations | 5 | $ 30 | |
Minimum | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, expected cost | 125 | 125 | |
Minimum | Office Space Reductions | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, expected cost | 50 | 50 | |
Minimum | Workforce | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, expected cost | 40 | 40 | |
Minimum | Licensor Commitments | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, expected cost | 35 | 35 | |
Maximum | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, expected cost | 165 | 165 | |
Maximum | Office Space Reductions | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, expected cost | 65 | 65 | |
Maximum | Workforce | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, expected cost | 55 | 55 | |
Maximum | Licensor Commitments | |||
Restructuring Cost and Reserve [Line Items] | |||
Restructuring and related cost, expected cost | $ 45 | $ 45 |
Restructuring Activities - Sche
Restructuring Activities - Schedule of Restructuring Activities (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | 18 Months Ended |
Sep. 30, 2024 | Mar. 31, 2024 | Sep. 30, 2024 | |
Restructuring Reserve [Roll Forward] | |||
RestructuringAndRelatedCostIncurredCost | $ 58 | $ 61 | |
Charges settled in cash | (22) | (22) | |
Impairment and other charges | (60) | (15) | |
Restructuring reserve | 0 | 24 | $ 0 |
RestructuringAndRelatedCostIncurredCost | 58 | 61 | |
Licensor Commitments | |||
Restructuring Reserve [Roll Forward] | |||
RestructuringAndRelatedCostIncurredCost | 5 | 30 | |
Charges settled in cash | 0 | (17) | |
Impairment and other charges | (5) | (13) | |
Restructuring reserve | 0 | 0 | 0 |
RestructuringAndRelatedCostIncurredCost | 5 | 30 | |
Workforce | |||
Restructuring Reserve [Roll Forward] | |||
RestructuringAndRelatedCostIncurredCost | (2) | 29 | |
Charges settled in cash | (22) | (5) | |
Impairment and other charges | 0 | 0 | |
Restructuring reserve | 0 | 24 | 0 |
RestructuringAndRelatedCostIncurredCost | (2) | 29 | |
Office Space Reductions | |||
Restructuring Reserve [Roll Forward] | |||
RestructuringAndRelatedCostIncurredCost | 55 | 2 | 57 |
Charges settled in cash | 0 | 0 | |
Impairment and other charges | (55) | (2) | |
Restructuring reserve | 0 | 0 | 0 |
RestructuringAndRelatedCostIncurredCost | 55 | $ 2 | $ 57 |
Office Space Reductions | General and administrative | |||
Restructuring Reserve [Roll Forward] | |||
RestructuringAndRelatedCostIncurredCost | 7 | ||
RestructuringAndRelatedCostIncurredCost | 7 | ||
Office Space Reductions | Restructuring Charges | |||
Restructuring Reserve [Roll Forward] | |||
RestructuringAndRelatedCostIncurredCost | 50 | ||
RestructuringAndRelatedCostIncurredCost | $ 50 |
Royalties And Licenses - Schedu
Royalties And Licenses - Schedule Of Royalty-Related Assets (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 |
Royalties and Licenses | ||
Royalty-related assets | $ 106 | $ 122 |
Other Current Assets | ||
Royalties and Licenses | ||
Royalty-related assets | 89 | 98 |
Other assets | ||
Royalties and Licenses | ||
Royalty-related assets | $ 17 | $ 24 |
Royalties And Licenses - Sche_2
Royalties And Licenses - Schedule Of Royalty-Related Liabilities (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 |
Royalty Related Liabilities | ||
Royalty-related liabilities | $ 259 | $ 209 |
Accrued royalties | ||
Royalty Related Liabilities | ||
Royalty-related liabilities | 207 | 189 |
Other liabilities | ||
Royalty Related Liabilities | ||
Royalty-related liabilities | $ 52 | $ 20 |
Royalties And Licenses - Narrat
Royalties And Licenses - Narrative (Details) $ in Millions | Sep. 30, 2024 USD ($) |
Royalties And Licenses [Line Items] | |
Unrecorded unconditional purchase obligation | $ 4,210 |
Developer/licensor commitments | |
Royalties And Licenses [Line Items] | |
Unrecorded unconditional purchase obligation | $ 1,760 |
Balance Sheet Details - Propert
Balance Sheet Details - Property And Equipment, Net Schedule (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | |
Property and Equipment, Net [Line Items] | |||
Property and equipment, gross | $ 1,801 | $ 1,737 | |
Less: accumulated depreciation | (1,223) | (1,159) | |
Property and equipment, net | 578 | 578 | [1] |
Computer, equipment and software | |||
Property and Equipment, Net [Line Items] | |||
Property and equipment, gross | 1,001 | 965 | |
Buildings | |||
Property and Equipment, Net [Line Items] | |||
Property and equipment, gross | 378 | 376 | |
Leasehold improvements | |||
Property and Equipment, Net [Line Items] | |||
Property and equipment, gross | 220 | 190 | |
Equipment, furniture and fixtures, and other | |||
Property and Equipment, Net [Line Items] | |||
Property and equipment, gross | 104 | 92 | |
Land | |||
Property and Equipment, Net [Line Items] | |||
Property and equipment, gross | 67 | 67 | |
Construction in progress | |||
Property and Equipment, Net [Line Items] | |||
Property and equipment, gross | $ 31 | $ 47 | |
[1]Derived from audited Consolidated Financial Statements. |
Balance Sheet Details - Narrati
Balance Sheet Details - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | Mar. 31, 2024 | |
Deferred Revenue Arrangement [Line Items] | |||||
Depreciation expense | $ 51 | $ 49 | $ 102 | $ 98 | |
Recognition of revenue deferral | 1,710 | $ 1,762 | |||
Unbilled contracts receivable | 33 | 33 | |||
Total deferred net revenue | |||||
Deferred Revenue Arrangement [Line Items] | |||||
Deferred revenue | 1,635 | 1,635 | $ 1,958 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-10-01 | |||||
Deferred Revenue Arrangement [Line Items] | |||||
Revenue, remaining performance obligation, amount | $ 24 | $ 24 | |||
Revenue, remaining performance obligation, expected timing of satisfaction, period | 1 year | 1 year | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-10-01 | |||||
Deferred Revenue Arrangement [Line Items] | |||||
Revenue, remaining performance obligation, expected timing of satisfaction, period |
Balance Sheet Details - Accrued
Balance Sheet Details - Accrued And Other Current Liabilities Schedule (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | |
Balance Sheet Related Disclosures [Abstract] | |||
Accounts payable | $ 171 | $ 110 | |
Accrued compensation and benefits | 360 | 476 | |
Accrued royalties | 207 | 189 | |
Deferred net revenue (other) | 79 | 59 | |
Operating lease liabilities | 69 | 66 | |
Other accrued expenses | 349 | 286 | |
Sales returns and price protection reserves | 77 | 90 | |
Accounts payable, accrued, and other current liabilities | $ 1,312 | $ 1,276 | [1] |
[1]Derived from audited Consolidated Financial Statements. |
Balance Sheet Details - Deferre
Balance Sheet Details - Deferred Net Revenue (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | |
Deferred Revenue Arrangement [Line Items] | |||
Deferred revenue, current | $ 1,475 | $ 1,814 | [1] |
Deferred net revenue (online-enabled games) | |||
Deferred Revenue Arrangement [Line Items] | |||
Deferred revenue, current | 1,475 | 1,814 | |
Deferred net revenue (other) | |||
Deferred Revenue Arrangement [Line Items] | |||
Deferred revenue, current | 79 | 59 | |
Deferred net revenue (noncurrent) | |||
Deferred Revenue Arrangement [Line Items] | |||
Deferred revenue, noncurrent | 81 | 85 | |
Total deferred net revenue | |||
Deferred Revenue Arrangement [Line Items] | |||
Deferred revenue | $ 1,635 | $ 1,958 | |
[1]Derived from audited Consolidated Financial Statements. |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Income Tax Disclosure [Abstract] | ||||
Effective income tax rate reconciliation, percent | 26% | 2% | 28% | 15% |
Effective income tax rate, excluding unrecognized tax benefits, percent | 25% | 27% |
Financing Arrangements - Senior
Financing Arrangements - Senior Notes Narrative (Details) - USD ($) $ in Millions | 1 Months Ended | 6 Months Ended | ||
Feb. 28, 2021 | Feb. 29, 2016 | Sep. 30, 2024 | Mar. 31, 2024 | |
Debt Instrument [Line Items] | ||||
Proceeds from debt, net of issuance costs | $ 1,478 | |||
Amortization of debt discount (premium) | 6 | |||
Debt issuance costs, gross | 16 | |||
Proceeds from issuance of senior long-term debt | $ 395 | |||
2031 Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 750 | $ 750 | $ 750 | |
Debt instrument, interest rate, stated percentage | 1.85% | 1.85% | ||
Debt instrument, interest rate, effective percentage | 1.98% | |||
Debt instrument, convertible, remaining discount amortization period | 6 years 4 months 24 days | |||
2051 Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 750 | $ 750 | 750 | |
Debt instrument, interest rate, stated percentage | 2.95% | 2.95% | ||
Debt instrument, interest rate, effective percentage | 3.04% | |||
Debt instrument, convertible, remaining discount amortization period | 26 years 4 months 24 days | |||
2026 Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 400 | $ 400 | 400 | |
Debt instrument, interest rate, stated percentage | 4.80% | 4.80% | ||
Debt instrument, interest rate, effective percentage | 4.97% | |||
Debt instrument, convertible, remaining discount amortization period | 1 year 4 months 24 days | |||
Senior Notes | ||||
Debt Instrument [Line Items] | ||||
Long-term debt | $ 1,900 | 1,900 | ||
Debt instrument, unamortized discount (premium), net | $ (1) | (5) | (5) | |
Unamortized debt issuance costs | $ (4) | $ (12) | $ (13) | |
Debt instrument, redemption price, percentage | 100% | |||
Change of control repurchase event | ||||
Debt Instrument [Line Items] | ||||
Debt instrument, redemption price, percentage | 101% |
Financing Arrangements - Schedu
Financing Arrangements - Schedule of Carrying and Fair Values of Senior Notes (Details) - USD ($) $ in Millions | Sep. 30, 2024 | Mar. 31, 2024 | Feb. 28, 2021 | Feb. 29, 2016 |
Line of Credit Facility [Line Items] | ||||
Senior notes | $ 1,883 | $ 1,882 | ||
2026 Notes | ||||
Line of Credit Facility [Line Items] | ||||
Long-term debt | $ 400 | 400 | $ 400 | |
Debt instrument, interest rate, stated percentage | 4.80% | 4.80% | ||
2031 Notes | ||||
Line of Credit Facility [Line Items] | ||||
Long-term debt | $ 750 | 750 | $ 750 | |
Debt instrument, interest rate, stated percentage | 1.85% | 1.85% | ||
2051 Notes | ||||
Line of Credit Facility [Line Items] | ||||
Long-term debt | $ 750 | 750 | $ 750 | |
Debt instrument, interest rate, stated percentage | 2.95% | 2.95% | ||
Senior Notes | ||||
Line of Credit Facility [Line Items] | ||||
Long-term debt | $ 1,900 | 1,900 | ||
Debt instrument, unamortized discount (premium), net | (5) | (5) | $ (1) | |
Unamortized debt issuance costs | (12) | (13) | $ (4) | |
Fair value of Senior Notes (Level 2) | $ 1,569 | $ 1,515 |
Financing Arrangement - Line of
Financing Arrangement - Line of Credit Facility (Details) - Revolving Credit Facility - USD ($) $ in Millions | 6 Months Ended | |
Sep. 30, 2024 | 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 - Schedul
Financing Arrangement - Schedule Of Interest Expense Related To Notes (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Debt Disclosure [Abstract] | ||||
Amortization of debt issuance costs | $ 0 | $ 0 | $ (1) | $ (1) |
Coupon interest expense | (14) | (14) | (28) | (28) |
Total interest expense | $ (14) | $ (14) | $ (29) | $ (29) |
Commitments And Contingencies -
Commitments And Contingencies - Narrative (Details) $ in Millions | Sep. 30, 2024 USD ($) |
Commitments and Contingencies Disclosure [Abstract] | |
Unrecognized tax benefits, interest on income taxes accrued | $ 552 |
Commitments And Contingencies_2
Commitments And Contingencies - Minimum Contractual Obligations (Details) $ in Millions | Sep. 30, 2024 USD ($) |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | $ 4,210 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 417 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 953 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 893 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 502 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 395 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 336 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 714 |
Recorded Total | 2,249 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 42 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 465 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 46 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 33 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 23 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 25 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 1,615 |
Total Unconditional Purchase Obligation Balance Sheet Amount | 6,459 |
Total Unconditional Purchase Obligation Balance Sheet Amount Remaining For Current Fiscal Year | 459 |
Total Unconditional Purchase Obligation Balance Sheet Amount One Year After Fiscal Year End | 1,418 |
Total Unconditional Purchase Obligation Balance Sheet Amount Two Years After Fiscal Year End | 939 |
Total Unconditional Purchase Obligation Balance Sheet Amount Three Years After Fiscal Year End | 535 |
Total Unconditional Purchase Obligation Balance Sheet Amount Four Years After Fiscal Year End | 418 |
Total Unconditional Purchase Obligation Balance Sheet Amount Five Years After Fiscal Year End | 361 |
Total Unconditional Purchase Obligation Balance Sheet Amount Thereafter | $ 2,329 |
Lessee, Operating Lease, Lease Not yet Commenced, Term of Contract | 10 years |
Developer/licensor commitments | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | $ 1,760 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 188 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 407 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 481 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 225 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 218 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 140 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 101 |
Marketing commitments | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 1,265 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 82 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 291 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 295 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 211 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 122 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 149 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 115 |
Senior Notes interest | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 698 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 22 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 54 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 36 |
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 Year Five | 36 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 478 |
Operating lease imputed interest | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 55 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 6 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 10 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 9 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 7 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 6 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 5 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 12 |
Other purchase obligations | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 420 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 119 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 191 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 71 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 22 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 12 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 5 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 0 |
Senior Notes principal and interest | |
Long-term Purchase Commitment [Line Items] | |
Recorded Total | 1,906 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 6 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 400 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 0 |
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 leases | |
Long-term Purchase Commitment [Line Items] | |
Unrecorded Unconditional Purchase Obligation | 12 |
Unrecorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 0 |
Unrecorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 0 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Two | 1 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Three | 1 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Four | 1 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling Year Five | 1 |
Unrecorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 8 |
Recorded Total | 336 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 36 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 58 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 46 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Three | 33 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Four | 23 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Five | 25 |
Recorded Unconditional Purchase Obligation, Due in Rolling after Year Five | 115 |
Transition Tax and other taxes | |
Long-term Purchase Commitment [Line Items] | |
Recorded Total | 7 |
Recorded Unconditional Purchase Obligation, Due in Remainder of Fiscal Year | 0 |
Recorded Unconditional Purchase Obligation, Due in Next Rolling Twelve Months | 7 |
Recorded Unconditional Purchase Obligation, Due in Rolling Year Two | 0 |
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 - Sche
Stock-Based Compensation - Schedule Of Assumptions Used In Monte-Carlo Simulation Model (Details) - Restricted Stock Units (RSUs) | 3 Months Ended | |
Sep. 30, 2024 | Sep. 30, 2023 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Risk-free interest rate, minimum | 4.50% | 5.40% |
Risk-free interest rate, maximum | 5% | 5.50% |
Expected volatility, minimum | 21% | 23% |
Expected volatility, maximum | 22% | 24% |
Weighted-average volatility | 21% | 24% |
Expected dividends | 0.60% | 0.80% |
Minimum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected term | 6 months | 6 months |
Maximum | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected term | 12 months | 12 months |
Stock-Based Compensation - Sc_2
Stock-Based Compensation - Schedule Of Stock Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Millions | 6 Months Ended |
Sep. 30, 2024 USD ($) $ / shares shares | |
Options (in thousands) | |
Options, outstanding, beginning balance (in shares) | shares | 12 |
Options, granted (in shares) | shares | 2 |
Options, exercised (in shares) | shares | (4) |
Options, forfeited, cancelled or expired (in shares) | shares | (1) |
Options, outstanding, ending balance (in shares) | shares | 9 |
Options, vested and expected to vest (in shares) | shares | 9 |
Options, exercisable (in shares) | shares | 9 |
Weighted- Average Exercise Prices | |
Weighted-average exercise price of options outstanding, beginning balance (in dollars per share) | $ / shares | $ 64 |
Weighted-average exercise price of options granted during period (in dollars per share) | $ / shares | 137.55 |
Weighted-average exercise price of options exercised during the period (in dollars per share) | $ / shares | 88.68 |
Weighted-average exercise price of options forfeited, cancelled or expired during the period | $ / shares | 58.76 |
Weighted-average exercise price of options outstanding, ending balance (in dollars per share) | $ / shares | 65.81 |
Weighted-average exercise price of options vested and expected to vest (in dollars per share) | $ / shares | 65.81 |
Weighted-average exercise price of options exercisable (in dollars per share) | $ / shares | $ 65.81 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Additional Disclosures [Abstract] | |
Weighted-average remaining contractual term of options outstanding | 3 years 10 months 17 days |
Weighted-average remaining contractual term of options vested and expected to vest | 3 years 10 months 17 days |
Weighted-average remaining contractual term of options exercisable | 3 years 10 months 17 days |
Aggregate intrinsic value of options outstanding | $ | $ 1 |
Aggregate intrinsic value of options vested and expected to vest | $ | 1 |
Aggregate intrinsic value of options exercisable | $ | $ 1 |
Stock-Based Compensation - Sc_3
Stock-Based Compensation - Schedule Of Restricted Stock Rights Activity, Excluding Performance-Based Activity (Details) - Restricted Stock Units (RSUs) shares in Thousands | 6 Months Ended |
Sep. 30, 2024 $ / shares shares | |
Restricted Stock Units (in thousands) | |
Outstanding balance (in shares) | shares | 7,480 |
Granted (in shares) | shares | 4,173 |
Vested (in shares) | shares | (2,585) |
Forfeited or cancelled (in shares) | shares | (250) |
Outstanding balance (in shares) | shares | 8,818 |
Weighted- Average Grant Date Fair Values | |
Weighted-average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 128.31 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | 137.78 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | 129.89 |
Weighted-average grant date fair value, forfeited or cancelled during period (in dollars per share) | $ / shares | 130.26 |
Weighted-average grant date fair value, ending balance (in dollars per share) | $ / shares | $ 132.28 |
Stock-Based Compensation - Narr
Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | May 31, 2024 | Aug. 31, 2022 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Measurement periods for performance based restricted stock | 3 years | 3 years | ||||
Measurement periods for common stock, absolute TSR | 3 years | 3 years | ||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 1,047 | $ 1,047 | ||||
Amount of common stock authorized for repurchase | $ 5,000 | $ 2,600 | ||||
Restricted Stock Units (RSUs) | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Share-based compensation arrangement by share-based payment award, award vesting period | 3 years | |||||
Unrecognized compensation cost related to stock options and restricted stock rights | 973 | $ 973 | ||||
Weighted-average service period | 2 years | |||||
Market-Based Restricted Stock Units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 22 | $ 22 | ||||
Market-Based Restricted Stock Units | 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% | 0% | ||||
Percentage range of shares received at vesting based on absolute total stock return measurement | 0% | 0% | ||||
Market-Based Restricted Stock Units | 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% | 200% | ||||
Percentage range of shares received at vesting based on absolute total stock return measurement | 75% | 75% | ||||
Performance Based Restricted Stock Units | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Unrecognized compensation cost related to stock options and restricted stock rights | $ 52 | $ 52 | ||||
Performance Based Restricted Stock Units | 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% | 0% | ||||
Performance Based Restricted Stock Units | 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% | 200% | ||||
Stock-based compensation expense | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Deferred income tax expense (benefit) | $ 22 | $ 21 | $ 42 | $ 50 |
Stock-Based Compensation - Sc_4
Stock-Based Compensation - Schedule Of Performance-Based Restricted Stock Unit Activity (Details) - Performance Based Restricted Stock Units shares in Thousands | 6 Months Ended |
Sep. 30, 2024 $ / shares shares | |
Performance- Based Restricted Stock Units (in thousands) | |
Outstanding balance (in shares) | shares | 836 |
Granted (in shares) | shares | 763 |
Vested (in shares) | shares | (277) |
Forfeited or cancelled (in shares) | shares | (318) |
Outstanding balance (in shares) | shares | 1,004 |
Weighted- Average Grant Date Fair Values | |
Weighted-average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 129.60 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | 137.53 |
Weighted-average grant date fair value, forfeited or cancelled during period (in dollars per share) | $ / shares | 129.29 |
Weighted-average grant date fair value, ending balance (in dollars per share) | $ / shares | 134.60 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | $ 133.67 |
Stock-Based Compensation - Sc_5
Stock-Based Compensation - Schedule Of Market-Based Restricted Stock Unit Activity (Details) - Market-Based Restricted Stock Units shares in Thousands | 6 Months Ended |
Sep. 30, 2024 $ / shares shares | |
Market-Based Restricted Stock Units (in thousands) | |
Outstanding balance (in shares) | shares | 354 |
Granted (in shares) | shares | 381 |
Vested (in shares) | shares | (25) |
Forfeited or cancelled (in shares) | shares | (73) |
Outstanding balance (in shares) | shares | 637 |
Weighted- Average Grant Date Fair Values | |
Weighted-average grant date fair value, beginning balance (in dollars per share) | $ / shares | $ 168.53 |
Weighted-average grant date fair values of market-based restricted stock rights granted (in dollars per share) | $ / shares | 80.91 |
Weighted-average grant date fair value, vested during period (in dollars per share) | $ / shares | 173.25 |
Weighted-average grant date fair value, forfeited or cancelled during period (in dollars per share) | $ / shares | 173.25 |
Weighted-average grant date fair value, ending balance (in dollars per share) | $ / shares | $ 115.43 |
Stock-Based Compensation - Sc_6
Stock-Based Compensation - Schedule Of Stock-Based Compensation Expense By Statement Of Operations (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 174 | $ 155 | $ 317 | $ 285 |
Cost of revenue | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 4 | 2 | 8 | 4 |
Research and development | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 122 | 113 | 223 | 206 |
Marketing and sales | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | 16 | 13 | 28 | 24 |
General and administrative | ||||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ||||
Stock-based compensation expense | $ 32 | $ 27 | $ 58 | $ 51 |
Stock-Based Compensation - Sc_7
Stock-Based Compensation - Schedule of Share Repurchases (Details) - USD ($) shares in Millions, $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Stock repurchased and retired during period, shares (in shares) | 2.6 | 2.6 | 5.4 | 5.2 |
Stock repurchased and retired during period, value | $ 375 | $ 325 | $ 750 | $ 650 |
August 2022 Program | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Stock repurchased and retired during period, shares (in shares) | 0 | 2.6 | 1.2 | 5.2 |
Stock repurchased and retired during period, value | $ 0 | $ 325 | $ 152 | $ 650 |
May 2024 Program | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Stock repurchased and retired during period, shares (in shares) | 2.6 | 0 | 4.2 | 0 |
Stock repurchased and retired during period, value | $ 375 | $ 0 | $ 598 | $ 0 |
Earnings Per Share - Computatio
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 | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Earnings Per Share Reconciliation [Abstract] | ||||
Net income | $ 294 | $ 399 | $ 574 | $ 801 |
Weighted average number of shares outstanding, basic (in shares) | 264 | 271 | 265 | 272 |
Dilutive potential common shares related to stock award plans (in shares) | 2 | 1 | 2 | 1 |
Weighted-average common stock outstanding - diluted (in shares) | 266 | 272 | 267 | 273 |
Basic (in dollars per share) | $ 1.11 | $ 1.47 | $ 2.17 | $ 2.94 |
Diluted (in dollars per share) | $ 1.11 | $ 1.47 | $ 2.15 | $ 2.93 |
Earnings Per Share - Narrative
Earnings Per Share - Narrative (Details) - shares shares in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Earnings Per Share Reconciliation [Abstract] | ||||
Antidilutive securities excluded from computation of earnings (loss) per share, amount (in shares) | 1 | 1 | 1 | 1 |
Segment and Revenue Informati_3
Segment and Revenue Information - Narrative (Details) | 6 Months Ended |
Sep. 30, 2024 segment | |
Segment Reporting [Abstract] | |
Number of reportable segments | 1 |
Segment and Revenue Informati_4
Segment and Revenue Information - Net Revenue By Timing Recognition (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 2,025 | $ 1,914 | $ 3,685 | $ 3,838 |
Revenue recognized at a point in time | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 918 | 755 | 1,289 | 1,301 |
Revenue recognized over time | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 1,107 | $ 1,159 | $ 2,396 | $ 2,537 |
Segment and Revenue Informati_5
Segment and Revenue Information - Net Revenue By Revenue Composition (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 2,025 | $ 1,914 | $ 3,685 | $ 3,838 |
Full game, net revenue | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 716 | 621 | 966 | 1,064 |
Full game downloads, net revenue | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 475 | 346 | 665 | 647 |
Packaged goods, net revenue | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | 241 | 275 | 301 | 417 |
Live services and other, net revenue | ||||
Segment Reporting, Revenue Reconciling Item | ||||
Net revenue | $ 1,309 | $ 1,293 | $ 2,719 | $ 2,774 |
Segment and Revenue Informati_6
Segment and Revenue Information - Net Revenue By Platform (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Net Revenue by Platform [Line Items] | ||||
Net revenue | $ 2,025 | $ 1,914 | $ 3,685 | $ 3,838 |
Console | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | 1,374 | 1,187 | 2,379 | 2,354 |
PC and other | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | 364 | 423 | 729 | 874 |
Mobile | ||||
Net Revenue by Platform [Line Items] | ||||
Net revenue | $ 287 | $ 304 | $ 577 | $ 610 |
Segment and Revenue Informati_7
Segment and Revenue Information - Net Revenue By Geographic Area (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||
Sep. 30, 2024 | Sep. 30, 2023 | Sep. 30, 2024 | Sep. 30, 2023 | |
Revenue from External Customer [Line Items] | ||||
Net revenue | $ 2,025 | $ 1,914 | $ 3,685 | $ 3,838 |
North America | ||||
Revenue from External Customer [Line Items] | ||||
Net revenue | 899 | 747 | 1,515 | 1,554 |
International | ||||
Revenue from External Customer [Line Items] | ||||
Net revenue | $ 1,126 | $ 1,167 | $ 2,170 | $ 2,284 |