Microchip Technology (MCHP) 10-Q 3 Feb 22 2022 Q3 Quarterly report Financial data

COVER PAGE

COVER PAGE - shares	9 Months Ended
	Dec. 31, 2021	Jan. 27, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	0-21184
Entity Registrant Name	MICROCHIP TECHNOLOGY INCORPORATED
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-0629024
Entity Address, Address Line One	2355 W. Chandler Blvd.
Entity Address, City or Town	Chandler
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85224-6199
City Area Code	480
Local Phone Number	792-7200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	MCHP
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		555,990,729
Entity Central Index Key	0000827054
Current fiscal year end date	--03-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021
ASSETS
Cash and cash equivalents	$ 313.5	$ 280
Short-term investments	2	2
Accounts receivable, net	930.1	997.7
Inventories	768.2	665
Other current assets	186.7	200.5
Total current assets	2,200.5	2,145.2
Property, plant and equipment, net	929.9	854.7
Goodwill	6,673.6	6,670.6
Intangible assets, net	4,256.3	4,794.8
Long-term deferred tax assets	1,721.5	1,749.2
Other assets	265.4	264.3
Total assets	16,047.2	16,478.8
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	301.3	292.4
Accrued liabilities	917.4	794.3
Current portion of long-term debt	0	1,322.9
Total current liabilities	1,218.7	2,409.6
Long-term debt	7,868.5	7,581.2
Long-term income tax payable	673.5	689.9
Long-term deferred tax liability	41.4	43.9
Other long-term liabilities	441.8	417.1
Stockholders' equity:
Preferred stock, $0.001 par value; authorized 5,000,000 shares; no shares issued or outstanding	0	0
Common stock, $0.001 par value; authorized 900,000,000 shares; 576,756,917 shares issued and 555,988,669 shares outstanding at December 31, 2021; 568,958,158 shares issued and 547,057,188 shares outstanding at March 31, 2021	0.6	0.5
Additional paid-in capital	2,500.6	2,403.1
Common stock held in treasury: 20,768,248 shares at December 31, 2021; 21,900,970 shares at March 31, 2021	(552.7)	(433.8)
Accumulated other comprehensive loss	(23.3)	(26.2)
Retained earnings	3,878.1	3,393.5
Total stockholders' equity	5,803.3	5,337.1
Total liabilities and stockholders' equity	$ 16,047.2	$ 16,478.8

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares	Dec. 31, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	900,000,000	900,000,000
Common stock, shares issued (shares)	576,756,917	568,958,158
Common stock, shares outstanding (in shares)	555,988,669	547,057,188
Common stock held in treasury (in shares)	20,768,248	21,900,970

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Net sales	$ 1,757.5	$ 1,352.1	$ 4,976.7	$ 3,971.3
Cost of sales	604.2	506.3	1,747.5	1,519.3
Gross profit	1,153.3	845.8	3,229.2	2,452
Research and development	245.4	210.1	730	607.9
Selling, general and administrative	177.5	154.2	531.7	445.2
Amortization of acquired intangible assets	215.7	231.6	647	699.9
Special (income) charges and other, net	(0.3)	4.3	20.4	8.9
Operating expenses	638.3	600.2	1,929.1	1,761.9
Operating income	515	245.6	1,300.1	690.1
Other income (expense):
Interest income	0.1	0.2	0.5	0.8
Interest expense	(62.1)	(86.5)	(199.2)	(278.9)
Loss on settlement of debt	(16.1)	(142.1)	(101.6)	(214)
Other income (loss), net	4.6	(0.4)	3.5	(2.9)
Income before income taxes	441.5	16.8	1,003.3	195.1
Income tax provision (benefit)	88.7	(19.4)	155.7	(38.3)
Net income	$ 352.8	$ 36.2	$ 847.6	$ 233.4
Basic net income per common share (in dollars per share)	$ 0.64	$ 0.07	$ 1.54	$ 0.46
Diluted net income per common share (in dollars per share)	0.62	0.07	1.50	0.44
Dividends declared per common share (in dollars per share)	$ 0.2320	$ 0.1843	$ 0.6570	$ 0.5521
Basic common shares outstanding (in shares)	554.9	526.8	551.2	511.4
Diluted common shares outstanding (in shares)	567.3	550.8	566.1	533.9

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 352.8	$ 36.2	$ 847.6	$ 233.4
Defined benefit plans:
Actuarial gains (losses) related to defined benefit pension plans, net of tax effect	2.1	(3.5)	2.8	(6.9)
Reclassification of realized transactions, net of tax effect	0.6	0.3	1.8	0.9
Change in net foreign currency translation adjustment	(1.6)	1.8	(1.7)	5.3
Other comprehensive income (loss), net of tax effect	1.1	(1.4)	2.9	(0.7)
Comprehensive income	$ 353.9	$ 34.8	$ 850.5	$ 232.7

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 847.6	$ 233.4
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	850.3	865.5
Deferred income taxes	6.1	(82.9)
Share-based compensation expense related to equity incentive plans	163.2	143.3
Loss on settlement of debt	101.6	214
Amortization of debt discount	34.9	57.5
Amortization of debt issuance costs	9.2	13.2
Other non-cash adjustment	(9.5)	(0.2)
Changes in operating assets and liabilities, excluding impact of acquisitions:
Decrease in accounts receivable	67.6	40.2
(Increase) decrease in inventories	(105)	17.5
Increase in accounts payable and accrued liabilities	73.8	6.6
Change in other assets and liabilities	30.3	(23.3)
Change in income tax payable	24.9	(17.5)
Net cash provided by operating activities	2,095	1,467.3
Cash flows from investing activities:
Proceeds from sales of assets	12.2	0.2
Investments in other assets	(91.7)	(73.1)
Capital expenditures	(255.5)	(37.2)
Net cash used in investing activities	(335)	(110.1)
Cash flows from financing activities:
Proceeds from issuance of senior notes	997	3,577.8
Repayment of senior notes	(1,000)	0
Repayment of Bridge Loan Facility	0	(615)
Payments on settlement of convertible debt	(359.8)	(2,252.2)
Deferred financing costs	(7.8)	(18.3)
Purchase of capped call options	0	(35.8)
Proceeds from sale of common stock	47.1	40.2
Tax payments related to shares withheld for vested RSUs	(66.9)	(46.5)
Repurchase of common stock	(166)	0
Payment of cash dividends	(363)	(281.7)
Capital lease payments	(0.6)	(0.6)
Net cash used in financing activities	(1,726.5)	(1,387.5)
Net increase (decrease) in cash and cash equivalents	33.5	(30.3)
Cash and cash equivalents, and restricted cash at beginning of period	280	401
Cash and cash equivalents, and restricted cash at end of period	313.5	370.7
Revolving Credit Facility
Cash flows from financing activities:
Proceeds from borrowings on Revolving Credit Facility	2,947	3,073
Repayments of line of credit	(3,753.5)	(3,104.9)
Term Loan Facility
Cash flows from financing activities:
Repayments of line of credit	$ 0	$ (1,723.5)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Common Stock and Additional Paid-in-Capital	Common Stock Held in Treasury	Accumulated Other Comprehensive Loss	Retained Earnings
Balance, common stock shares issued (in shares) at Mar. 31, 2020		516,800,000
Beginning balance at Mar. 31, 2020	$ 5,585.5	$ 2,675.3	$ (500.6)	$ (21.6)	$ 3,432.4
Balance, common stock held in treasury (in shares) at Mar. 31, 2020			26,100,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	123.6				123.6
Other comprehensive income	0.5			0.5
Proceeds from sales of common stock through employee equity incentive plans (shares)		1,200,000
Proceeds from sales of common stock through employee equity incentive plans	11	$ 11
RSU and SAR withholdings (shares)		(300,000)
RSU and SAR withholdings	(11)	$ (11)
Treasury stock used for new issuances (shares)		(900,000)	(900,000)
Treasury stock used for new issuances	0	$ (14.8)	$ 14.8
Shares issued to settle convertible debt (in shares)		13,300,000
Shares issued to settle convertible debt	651.5	$ 651.5
Settlement of convertible debt	(810.7)	(810.7)
Share-based compensation	41.3	$ 41.3
Cash dividend	(90.4)				(90.4)
Balance, common stock shares issued (in shares) at Jun. 30, 2020		530,100,000
Ending balance at Jun. 30, 2020	5,501.3	$ 2,542.6	$ (485.8)	(21.1)	3,465.6
Balance, common stock held in treasury (in shares) at Jun. 30, 2020			25,200,000
Balance, common stock shares issued (in shares) at Mar. 31, 2020		516,800,000
Beginning balance at Mar. 31, 2020	5,585.5	$ 2,675.3	$ (500.6)	(21.6)	3,432.4
Balance, common stock held in treasury (in shares) at Mar. 31, 2020			26,100,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	233.4
Other comprehensive income	(0.7)
Balance, common stock shares issued (in shares) at Dec. 31, 2020		561,400,000
Ending balance at Dec. 31, 2020	5,297	$ 2,385.4	$ (450.2)	(22.3)	3,384.1
Balance, common stock held in treasury (in shares) at Dec. 31, 2020			22,900,000
Balance, common stock shares issued (in shares) at Jun. 30, 2020		530,100,000
Beginning balance at Jun. 30, 2020	5,501.3	$ 2,542.6	$ (485.8)	(21.1)	3,465.6
Balance, common stock held in treasury (in shares) at Jun. 30, 2020			25,200,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	73.6				73.6
Other comprehensive income	0.2			0.2
Proceeds from sales of common stock through employee equity incentive plans (shares)		1,500,000
Proceeds from sales of common stock through employee equity incentive plans	18.6	$ 18.6
RSU and SAR withholdings (shares)		(300,000)
RSU and SAR withholdings	(14.4)	$ (14.4)
Treasury stock used for new issuances (shares)		(1,200,000)	(1,200,000)
Treasury stock used for new issuances	0	$ (18.8)	$ 18.8
Shares issued to settle convertible debt (in shares)		14,400,000
Shares issued to settle convertible debt	768.7	$ 768.7
Settlement of convertible debt	(859.4)	(859.4)
Share-based compensation	50.4	$ 50.4
Cash dividend	(95.3)				(95.3)
Balance, common stock shares issued (in shares) at Sep. 30, 2020		544,500,000
Ending balance at Sep. 30, 2020	5,443.7	$ 2,487.7	$ (467)	(20.9)	3,443.9
Balance, common stock held in treasury (in shares) at Sep. 30, 2020			24,000,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	36.2				36.2
Other comprehensive income	(1.4)			(1.4)
Proceeds from sales of common stock through employee equity incentive plans (shares)		1,400,000
Proceeds from sales of common stock through employee equity incentive plans	10.6	$ 10.6
RSU and SAR withholdings (shares)		(300,000)
RSU and SAR withholdings	(21.1)	$ (21.1)
Treasury stock used for new issuances (shares)		(1,100,000)	(1,100,000)
Treasury stock used for new issuances	0	$ (16.8)	$ 16.8
Shares issued to settle convertible debt (in shares)		16,900,000
Shares issued to settle convertible debt	1,160.1	$ 1,160.1
Settlement of convertible debt	(1,339)	(1,339)
Purchase of capped call options	(35.8)	(35.8)
Issuance of 2020 Senior Convertible Debt	87.7	87.7
Share-based compensation	52	$ 52
Cash dividend	(96)				(96)
Balance, common stock shares issued (in shares) at Dec. 31, 2020		561,400,000
Ending balance at Dec. 31, 2020	$ 5,297	$ 2,385.4	$ (450.2)	(22.3)	3,384.1
Balance, common stock held in treasury (in shares) at Dec. 31, 2020			22,900,000
Balance, common stock shares issued (in shares) at Mar. 31, 2021	568,958,158	569,000,000
Beginning balance at Mar. 31, 2021	$ 5,337.1	$ 2,403.6	$ (433.8)	(26.2)	3,393.5
Balance, common stock held in treasury (in shares) at Mar. 31, 2021	21,900,970		21,900,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 252.8				252.8
Other comprehensive income	0			0
Proceeds from sales of common stock through employee equity incentive plans (shares)		1,400,000
Proceeds from sales of common stock through employee equity incentive plans	12.2	$ 12.2
RSU and SAR withholdings (shares)		(400,000)
RSU and SAR withholdings	(25.3)	$ (25.3)
Treasury stock used for new issuances (shares)		(1,000,000)	(1,000,000)
Treasury stock used for new issuances	0	$ (16.3)	$ 16.3
Share-based compensation	56.2	$ 56.2
Cash dividend	(113.1)				(113.1)
Balance, common stock shares issued (in shares) at Jun. 30, 2021		569,000,000
Ending balance at Jun. 30, 2021	$ 5,519.9	$ 2,430.4	$ (417.5)	(26.2)	3,533.2
Balance, common stock held in treasury (in shares) at Jun. 30, 2021			20,900,000
Balance, common stock shares issued (in shares) at Mar. 31, 2021	568,958,158	569,000,000
Beginning balance at Mar. 31, 2021	$ 5,337.1	$ 2,403.6	$ (433.8)	(26.2)	3,393.5
Balance, common stock held in treasury (in shares) at Mar. 31, 2021	21,900,970		21,900,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 847.6
Other comprehensive income	$ 2.9			2.9
Repurchase of common stock (in shares)	2,000,000
Repurchase of common stock	$ (166)
Balance, common stock shares issued (in shares) at Dec. 31, 2021	576,756,917	576,800,000
Ending balance at Dec. 31, 2021	$ 5,803.3	$ 2,501.2	$ (552.7)	(23.3)	3,878.1
Balance, common stock held in treasury (in shares) at Dec. 31, 2021	20,768,248		20,800,000
Balance, common stock shares issued (in shares) at Jun. 30, 2021		569,000,000
Beginning balance at Jun. 30, 2021	$ 5,519.9	$ 2,430.4	$ (417.5)	(26.2)	3,533.2
Balance, common stock held in treasury (in shares) at Jun. 30, 2021			20,900,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	242				242
Other comprehensive income	1.8			1.8
Proceeds from sales of common stock through employee equity incentive plans (shares)		1,600,000
Proceeds from sales of common stock through employee equity incentive plans	21.2	$ 21.2
RSU and SAR withholdings (shares)		(300,000)
RSU and SAR withholdings	(23.8)	$ (23.8)
Treasury stock used for new issuances (shares)		(1,300,000)	(1,300,000)
Treasury stock used for new issuances	0	$ (19.6)	$ 19.6
Shares issued to settle convertible debt (in shares)		5,400,000
Shares issued to settle convertible debt	399.2	$ 399.2
Settlement of convertible debt	(391.1)	(391.1)
Share-based compensation	54.9	$ 54.9
Cash dividend	(121.2)				(121.2)
Balance, common stock shares issued (in shares) at Sep. 30, 2021		574,400,000
Ending balance at Sep. 30, 2021	5,702.9	$ 2,471.2	$ (397.9)	(24.4)	3,654
Balance, common stock held in treasury (in shares) at Sep. 30, 2021			19,600,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	352.8				352.8
Other comprehensive income	1.1			1.1
Proceeds from sales of common stock through employee equity incentive plans (shares)		1,000,000
Proceeds from sales of common stock through employee equity incentive plans	13.7	$ 13.7
RSU and SAR withholdings (shares)		(200,000)
RSU and SAR withholdings	(17.8)	$ (17.8)
Treasury stock used for new issuances (shares)		(800,000)	(800,000)
Treasury stock used for new issuances	$ 0	$ (11.2)	$ 11.2
Repurchase of common stock (in shares)	2,000,000		2,000,000
Repurchase of common stock	$ (166)		$ (166)
Shares issued to settle convertible debt (in shares)		2,400,000
Shares issued to settle convertible debt	196.9	$ 196.9
Settlement of convertible debt	(201.9)	(201.9)
Share-based compensation	50.3	$ 50.3
Cash dividend	$ (128.7)				(128.7)
Balance, common stock shares issued (in shares) at Dec. 31, 2021	576,756,917	576,800,000
Ending balance at Dec. 31, 2021	$ 5,803.3	$ 2,501.2	$ (552.7)	$ (23.3)	$ 3,878.1
Balance, common stock held in treasury (in shares) at Dec. 31, 2021	20,768,248		20,800,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements include the accounts of Microchip Technology Incorporated and its majority-owned and controlled subsidiaries (the Company). All significant intercompany accounts and transactions have been eliminated in consolidation. All dollar amounts in the financial statements and tables in these notes, except per share amounts, are stated in millions of U.S. dollars unless otherwise noted. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. GAAP, pursuant to the rules and regulations of the SEC. The information furnished herein reflects all adjustments which are, in the opinion of management, of a normal recurring nature and necessary for a fair statement of the results for the interim periods reported. Certain information and footnote disclosures normally included in audited consolidated financial statements have been condensed or omitted pursuant to such SEC rules and regulations. It is suggested that these condensed consolidated financial statements be read in conjunction with the audited consolidated financial statements and the notes thereto included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2021. The results of operations for the three and nine months ended December 31, 2021 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2022 or for any other period.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements	9 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Recently Adopted Accounting Pronouncements On April 1, 2021, the Company adopted ASU 2019-12- Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This guidance enhances and simplifies various aspects of income tax accounting, including requirements related to hybrid tax regimes, the tax basis step-up in goodwill obtained in a transaction that is not a business combination, separate financial statements of entities not subject to tax, the intraperiod tax allocation exception to the incremental approach, ownership changes in investments, interim-period accounting for enacted changes in tax law, and the year-to-date loss limitation in interim-period tax accounting. The adoption of this standard did not have a material impact on the Company's condensed consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU 2020-06- Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity

Segment Information

Segment Information	9 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information The Company's reportable segments are semiconductor products and technology licensing. The Company does not allocate operating expenses, interest income, interest expense, other income or expense, or provision for or benefit from income taxes to these segments for internal reporting purposes, as the Company does not believe that allocating these expenses is beneficial in evaluating segment performance. Additionally, the Company does not allocate assets to segments for internal reporting purposes as it does not manage its segments by such metrics. The following tables represent net sales and gross profit for each segment for the periods presented (in millions): Three Months Ended December 31, 2021 Nine Months Ended December 31, 2021 Net Sales Gross Profit Net Sales Gross Profit Semiconductor products $ 1,725.5 $ 1,121.3 $ 4,884.5 $ 3,137.0 Technology licensing 32.0 32.0 92.2 92.2 Total $ 1,757.5 $ 1,153.3 $ 4,976.7 $ 3,229.2 Three Months Ended December 31, 2020 Nine Months Ended December 31, 2020 Net Sales Gross Profit Net Sales Gross Profit Semiconductor products $ 1,319.9 $ 813.6 $ 3,893.9 $ 2,374.6 Technology licensing 32.2 32.2 77.4 77.4 Total $ 1,352.1 $ 845.8 $ 3,971.3 $ 2,452.0

Net Sales

Net Sales	9 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Net Sales	Net Sales The following table represents the Company's net sales by product line (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Microcontrollers $ 972.2 $ 726.3 $ 2,768.7 $ 2,145.8 Analog 500.5 372.8 1,423.5 1,104.7 Other 284.8 253.0 784.5 720.8 Total net sales $ 1,757.5 $ 1,352.1 $ 4,976.7 $ 3,971.3 The product lines listed above are included entirely in the Company's semiconductor product segment with the exception of the other product line, which includes products from both the semiconductor product and technology licensing segments. The following table represents the Company's net sales by contract type (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Distributors $ 787.1 $ 681.6 $ 2,387.2 $ 2,003.7 Direct customers 938.4 638.3 2,497.3 1,890.2 Licensees 32.0 32.2 92.2 77.4 Total net sales $ 1,757.5 $ 1,352.1 $ 4,976.7 $ 3,971.3 Distributors are customers that buy products with the intention of reselling them. Distributors generally have a distributor agreement with the Company to govern the terms of the relationship. Direct customers are non-distributor customers, which generally do not have a master sales agreement with the Company. The Company's direct customers primarily consist of OEMs and, to a lesser extent, contract manufacturers. Licensees are customers of the Company's technology licensing segment, which include purchasers of intellectual property and customers that have licensing agreements to use the Company's SuperFlash® embedded flash and Smartbits® one time programmable NVM technologies. All of the contract types listed in the table above are included in the Company's semiconductor product segment with the exception of licenses, which is included in the technology licensing segment.

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Net Income Per Common Share	Net Income Per Common Share The following table sets forth the computation of basic and diluted net income per common share (in millions, except per share amounts): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Net income $ 352.8 $ 36.2 $ 847.6 $ 233.4 Basic weighted average common shares outstanding 554.9 526.8 551.2 511.4 Dilutive effect of stock options and RSUs 7.0 7.3 7.4 6.6 Dilutive effect of 2015 Senior Convertible Debt 2.0 7.0 3.1 10.8 Dilutive effect of 2017 Senior Convertible Debt 3.0 5.7 3.4 3.0 Dilutive effect of 2017 Junior Convertible Debt 0.4 4.0 1.0 2.1 Diluted weighted average common shares outstanding 567.3 550.8 566.1 533.9 Basic net income per common share $ 0.64 $ 0.07 $ 1.54 $ 0.46 Diluted net income per common share $ 0.62 $ 0.07 $ 1.50 $ 0.44 The Company computed basic net income per common share based on the weighted average number of common shares outstanding during the period. The Company computed diluted net income per common share based on the weighted average number of common shares outstanding plus potentially dilutive common shares outstanding during the period. Potentially dilutive common shares from employee equity incentive plans are determined by applying the treasury stock method to the assumed exercise of outstanding stock options and the assumed vesting of outstanding RSUs. Weighted average common shares exclude the effect of option shares which are not dilutive. There were no anti-dilutive option shares for each of the three and nine months ended December 31, 2021 and 2020. The Company's Convertible Debt has no impact on diluted net income per common share unless the average price of the Company's common stock exceeds the conversion price because the Company intends to settle the principal amount of the Convertible Debt in cash upon conversion. Prior to conversion, the Company will include, in the diluted net income per common share calculation, the effect of the additional shares that may be issued when the Company's common stock price exceeds the conversion price using the treasury stock method. The following is the weighted average conversion price per share used in calculating the dilutive effect (see Note 6 for details on the Convertible Debt): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 2015 Senior Convertible Debt $ 30.05 $ 30.39 $ 30.14 $ 30.49 2017 Senior Convertible Debt $ 46.86 $ 47.39 $ 47.00 $ 47.55 2020 Senior Convertible Debt $ 93.32 $ 93.44 $ 93.37 $ 93.44 2017 Junior Convertible Debt $ 46.04 $ 46.56 $ 46.17 $ 46.72

Debt

Debt	9 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Debt obligations included in the condensed consolidated balance sheets consisted of the following (in millions): Coupon Interest Rate Effective Interest Rate Fair Value of Liability Component at Issuance (1) December 31, 2021 March 31, 2021 Revolving Credit Facility $ 1,540.1 $ 2,346.6 3.922% 2021 Notes 3.922% 4.5% — 1,000.0 4.333% 2023 Notes 4.333% 4.7% 1,000.0 1,000.0 2.670% 2023 Notes 2.670% 2.8% 1,000.0 1,000.0 0.972% 2024 Notes 0.972% 1.1% 1,400.0 1,400.0 0.983% 2024 Notes (2) 0.983% 1.1% 1,000.0 — 4.250% 2025 Notes 4.250% 4.6% 1,200.0 1,200.0 Total Senior Indebtedness (3) 7,140.1 7,946.6 Senior Subordinated Convertible Debt - Principal Outstanding 2015 Senior Convertible Debt 1.625% 5.9% $ 30.4 34.4 141.4 2017 Senior Convertible Debt 1.625% 6.0% $ 155.9 193.0 333.3 2020 Senior Convertible Debt 0.125% 5.1% $ 555.5 665.5 665.5 Junior Subordinated Convertible Debt - Principal Outstanding 2017 Junior Convertible Debt 2.250% 7.4% $ 5.4 10.1 122.6 Total Convertible Debt 903.0 1,262.8 Gross long-term debt including current maturities 8,043.1 9,209.4 Less: Debt discount (4) (146.9) (273.0) Less: Debt issuance costs (5) (27.7) (32.3) Net long-term debt including current maturities 7,868.5 8,904.1 Less: Current maturities (6) — (1,322.9) Net long-term debt $ 7,868.5 $ 7,581.2 (1) As each of the convertible debt instruments may be settled in cash upon conversion, for accounting purposes, they were bifurcated into a liability component and an equity component. The amount allocated to the equity component is the difference between the principal value of the instrument and the fair value of the liability component at issuance. The resulting debt discount is being amortized to interest expense at the respective effective interest rate over the contractual term of the debt. (2) The 0.983% 2024 Notes mature on September 1, 2024, and interest is payable semi-annually in arrears on March 1 and September 1 of each year. (3) The 4.333% 2023 Notes, the 2.670% 2023 Notes, the 0.972% 2024 Notes, the 0.983% 2024 Notes, the 4.250% 2025 Notes, and the Revolving Credit Facility are senior unsecured debt. Prior to the December 16, 2021 amendment, the 4.333% 2023 Notes, the 2.670% 2023 Notes, the 0.972% 2024 Notes, the 0.983% 2024 Notes, and the Revolving Credit Facility were senior secured debt. (4) The unamortized discount consists of the following (in millions): December 31, March 31, 2021 2021 3.922% 2021 Notes $ — $ (0.3) 4.333% 2023 Notes (1.6) (2.4) 2.670% 2023 Notes (1.6) (2.3) 0.972% 2024 Notes (2.8) (3.8) 0.983% 2024 Notes (2.5) — 4.250% 2025 Notes (10.8) (12.8) 2015 Senior Convertible Debt (4.0) (20.1) 2017 Senior Convertible Debt (36.9) (71.3) 2020 Senior Convertible Debt (82.0) (101.6) 2017 Junior Convertible Debt (4.7) (58.4) Total unamortized discount $ (146.9) $ (273.0) (5) Debt issuance costs consist of the following (in millions): December 31, March 31, 2021 2021 Revolving Credit Facility $ (11.2) $ (10.0) 3.922% 2021 Notes — (0.7) 4.333% 2023 Notes (3.5) (5.3) 2.670% 2023 Notes (0.9) (1.3) 0.972% 2024 Notes (1.5) (2.0) 0.983% 2024 Notes (1.5) — 4.250% 2025 Notes (1.4) (1.7) 2015 Senior Convertible Debt (0.1) (0.7) 2017 Senior Convertible Debt (0.9) (1.8) 2020 Senior Convertible Debt (6.7) (8.3) 2017 Junior Convertible Debt — (0.5) Total debt issuance costs $ (27.7) $ (32.3) (6) As of March 31, 2021, current maturities consisted of the liability component of the 2017 Senior Convertible Debt and the 2017 Junior Convertible Debt, and the 3.922% 2021 Notes which were due June 1, 2021. Expected maturities relating to the Company’s debt obligations as of December 31, 2021 are as follows (in millions): Fiscal year ending March 31, Expected Maturities 2022 $ — 2023 — 2024 3,400.0 2025 1,700.0 2026 1,200.0 Thereafter 1,743.1 Total $ 8,043.1 Ranking of Convertible Debt - Each series of Convertible Debt is an unsecured obligation which is subordinated in right of payment to the amounts outstanding under the Company's Senior Indebtedness. The 2017 Junior Convertible Debt is expressly subordinated in right of payment to any existing and future senior debt of the Company (including the Senior Indebtedness and the Senior Subordinated Convertible Debt) and is structurally subordinated in right of payment to the liabilities of the Company's subsidiaries. The Senior Subordinated Convertible Debt is subordinated to the Senior Indebtedness; ranks senior to the Company's indebtedness that is expressly subordinated in right of payment to it, including the 2017 Junior Convertible Debt; ranks equal in right of payment to any of the Company's unsubordinated indebtedness that does not provide that it is senior to the Senior Subordinated Convertible Debt; ranks junior in right of payment to any of the Company's secured and unsecured unsubordinated indebtedness to the extent of the value of the assets securing such indebtedness; and is structurally subordinated to all indebtedness and other liabilities of the Company's subsidiaries. Summary of Conversion Features - Each series of Convertible Debt is convertible, subject to certain conditions, into cash, shares of the Company's common stock or a combination thereof, at the Company's election, at specified conversion rates (see table below), adjusted for certain events including the declaration of cash dividends. Except during the three-month period immediately preceding the maturity date of the applicable series of Convertible Debt, each series of Convertible Debt is convertible only upon the occurrence of (i) such time as the closing price of the Company's common stock exceeds the applicable conversion price (see table below) by 130% for 20 days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter or (ii) during the 5 business day period after any 10 consecutive trading day period, or the measurement period, in which the trading price per $1,000 principal amount of notes of a given series for each trading day of the measurement period was less than 98% of the product of the last reported sale price of the Company's common stock and the applicable conversion rate on each such trading day or (iii) upon the occurrence of certain corporate events specified in the indenture of such series of Convertible Debt. In addition, for each series, with the exception of the 2020 Senior Convertible Debt, if at the time of conversion the applicable price of the Company's common stock exceeds the applicable conversion price at such time, the applicable conversion rate will be increased by up to an additional maximum incremental shares rate, as determined pursuant to a formula specified in the indenture for the applicable series of Convertible Debt, and as adjusted for cash dividends paid since the issuance of such series of Convertible Debt. However, in no event will the applicable conversion rate exceed the applicable maximum conversion rate specified in the indenture for the applicable series of Convertible Debt (see table below). The following table sets forth the applicable conversion rates adjusted for dividends declared since issuance of such series of Convertible Debt and the applicable incremental share factors and maximum conversion rates as adjusted for dividends paid since the applicable issuance date: Dividend adjusted rates as of December 31, 2021 Conversion Rate Approximate Conversion Price Incremental Share Factor Maximum Conversion Rate 2015 Senior Convertible Debt (1) 33.3270 $ 30.01 16.6635 46.6576 2017 Senior Convertible Debt (1) 21.3712 $ 46.79 10.6856 30.4540 2020 Senior Convertible Debt (1) 10.7188 $ 93.29 — 15.0062 2017 Junior Convertible Debt (1) 21.7529 $ 45.97 10.8766 30.4540 (1) As of December 31, 2021, the 2020 Senior Convertible Debt was not convertible. As of December 31, 2021, the holders of each of the 2015 Senior Convertible Debt, 2017 Senior Convertible Debt, and 2017 Junior Convertible Debt have the right to convert their notes between January 1, 2022 and March 31, 2022 because the Company's common stock price has exceeded the applicable conversion price for such series by 130% for the specified period of time during the quarter ended December 31, 2021. As of December 31, 2021, the adjusted conversion rate for the 2015 Senior Convertible Debt, 2017 Senior Convertible Debt, and 2017 Junior Convertible Debt would be increased to 44.2473 shares of common stock, 26.3137 shares of common stock, and 26.8863 shares of common stock, respectively, per $1,000 principal amount of notes based on the closing price of $87.06 per share of common stock to include an additional maximum incremental share rate per the terms of the applicable indenture. As of December 31, 2021, each of the 2015 Senior Convertible Debt, 2017 Senior Convertible Debt, and 2017 Junior Convertible Debt had a conversion value in excess of par of $98.2 million, $249.2 million, and $13.6 million, respectively. With the exception of the 2020 Senior Convertible Debt, which may be redeemed by the Company on or after November 20, 2022, the Company may not redeem any series of Convertible Debt prior to the relevant maturity date and no sinking fund is provided for any series of Convertible Debt. Under the terms of the applicable indenture, the Company may repurchase any series of Convertible Debt in the open market through privately negotiated exchange offers. Upon the occurrence of a fundamental change, as defined in the applicable indenture of such series of Convertible Debt, holders of such series may require the Company to purchase all or a portion of their Convertible Debt for cash at a price equal to 100% of the principal amount plus any accrued and unpaid interest. Interest expense consists of the following (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Debt issuance cost amortization $ 2.2 $ 3.7 $ 7.4 $ 11.5 Debt discount amortization 1.7 1.6 5.3 4.7 Interest expense 45.3 59.2 144.9 171.3 Total interest expense on Senior Indebtedness 49.2 64.5 157.6 187.5 Debt issuance cost amortization 0.6 0.5 1.8 1.7 Debt discount amortization 9.0 12.8 29.6 52.8 Coupon interest expense 1.5 7.8 6.5 33.9 Total interest expense on Convertible Debt 11.1 21.1 37.9 88.4 Other interest expense 1.8 0.9 3.7 3.0 Total interest expense $ 62.1 $ 86.5 $ 199.2 $ 278.9 The remaining period over which the unamortized debt discount will be recognized as non-cash interest expense is 3.1 years, 5.1 years, 2.9 years, and 15.1 years for the 2015 Senior Convertible Debt, 2017 Senior Convertible Debt, 2020 Senior Convertible Debt, and 2017 Junior Convertible Debt, respectively. The Company's settlement transactions in the nine months ended December 31, 2021 consist of the following (in millions) (1) : Principal Amount Settled Consideration Fair Value Settled (2) Equity Component (2) Net Loss on Inducements and Settlements Cash Paid Value of Shares Issued Total December 2021 2015 Senior Convertible Debt (3) $ 36.6 $ 36.6 $ 103.9 $ 140.5 $ 36.2 $ 104.2 $ 4.1 2017 Senior Convertible Debt (3) $ 39.7 $ 39.7 $ 61.4 $ 101.1 $ 37.4 $ 63.0 $ 6.3 2017 Junior Convertible Debt (3) $ 19.9 $ 19.9 $ 31.6 $ 51.5 $ 15.7 $ 35.9 $ 5.1 Revolving Credit Facility (4) $ — $ — $ — $ — $ — $ — $ 0.6 August 2021 (5) 2015 Senior Convertible Debt $ 70.4 $ 70.4 $ 159.9 $ 230.3 $ 71.0 $ 158.9 $ 10.6 2017 Senior Convertible Debt $ 100.7 $ 100.7 $ 123.5 $ 224.2 $ 100.0 $ 113.0 $ 31.5 2017 Junior Convertible Debt $ 92.5 $ 92.5 $ 115.8 $ 208.3 $ 87.7 $ 116.6 $ 43.1 June 2021 (6) 3.922% 2021 Notes $ 1,000.0 $ 1,000.0 $ — $ 1,000.0 $ — $ — $ 0.3 (1) The Company settled portions of its convertible debt in privately negotiated transactions that are accounted for as induced conversions. (2) The total consideration for the convertible debt settlements was allocated to the liability and equity components using the equivalent rate that reflected the borrowing rate for a similar non-convertible debt instrument prior to the settlement. (3) The Company used cash generated from operations to finance a portion of such settlement. (4) In connection with the amendment and restatement of its Credit Agreement, the Company recognized a loss on settlement of debt of $0.6 million. (5) The Company used borrowings under its Revolving Credit Facility to finance a portion of such settlement. (6) The Company used proceeds from the issuance of the 0.983% 2024 Notes to finance a portion of such settlement. 0.983% 2024 Notes The Company may, at its option, redeem some or all of the 0.983% 2024 Notes in the manner set forth in the 0.983% 2024 Notes indenture. If the Company experiences a specified change of control triggering event set forth in the 0.983% 2024 Notes indenture the Company must offer to repurchase the 0.983% 2024 Notes at a price equal to 101% of the principal amount of the note repurchased, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. The 0.983% 2024 Notes indenture contains certain customary affirmative and negative covenants, including covenants that limit or restrict the Company and its subsidiaries' ability to, among other things, create or incur certain liens, and enter into sale and leaseback transactions, sell or otherwise dispose of any assets constituting collateral securing the 0.983% 2024 Notes, and consolidate with or merge with or into, or convey, transfer or lease all or substantially all of its assets, to another person. These covenants are subject to a number of limitations and exceptions set forth in the 0.983% 2024 Notes indenture. The 0.983% 2024 Notes are guaranteed by certain of the Company's subsidiaries that have also guaranteed the obligations under the Credit Agreement and under the Company’s existing Senior Indebtedness. In the future, certain subsidiaries of the Company that are guarantors or other obligors of the Credit Agreement are required to guarantee the 0.983% 2024 Notes. Senior Credit Facilities In December 2021, the Company amended and restated the Company's Credit Agreement in its entirety. In connection therewith, the collateral securing the Credit Agreement prior to such amendment and restatement was released. The amended and restated Credit Agreement provides for an unsecured revolving loan facility up to $2.75 billion that terminates on December 16, 2026. The Credit Agreement also permits the Company, subject to certain conditions, to add one or more incremental term loan facilities or increase the revolving loan commitments up to $750.0 million. The revolving loans bear interest, at the Company’s option, at the base rate plus a spread of 0.125% to 0.50%, an adjusted daily simple SOFR rate (or SONIA rate in the case of loans denominated in pounds sterling) plus a spread of 1.125% to 1.50%, or an adjusted term SOFR or adjusted EURIBOR rate (based on one, three or six-month interest periods) plus a spread of 1.125% to 1.50%, in each case, with such spread being determined based on the credit ratings for certain of the Company’s senior, unsecured debt. The base rate means the highest of the prime rate, the federal funds rate plus a margin equal to 0.50% and the adjusted term SOFR rate for a 1-month interest period plus a margin equal to 1.00%. Interest is due and payable in arrears quarterly for loans bearing interest at the base rate and at the end of an interest period (or at each three-month interval in the case of loans with interest periods greater than three months) in the case of loans bearing interest at the adjusted term SOFR or adjusted EURIBOR rates.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, the Company utilizes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value as follows: Level 1- Observable inputs such as quoted prices in active markets; Level 2- Inputs, other than the quoted prices in active markets, that are observable either directly or indirectly; and Level 3- Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. The carrying amount of cash equivalents approximates fair value because their maturity is less than three months. Management believes the carrying amount of the equity and cost-method investments materially approximated fair value at December 31, 2021 based upon unobservable inputs. The fair values of these investments have been determined as Level 3 fair value measurements. The carrying amount of accounts receivable, accounts payable and accrued liabilities approximates fair value due to the short-term maturity of the amounts and are considered Level 2 in the fair value hierarchy. The fair value of the Company's Revolving Credit Facility is estimated using discounted cash flow analysis, based on the Company's current incremental borrowing rates for similar types of borrowing arrangements. Based on the borrowing rates currently available to the Company for bank loans with similar terms and average maturities, the fair value of the Company's Revolving Credit Facility at December 31, 2021 approximated the carrying value excluding debt discounts and debt issuance costs and are considered Level 2 in the fair value hierarchy. The Company measures the fair value of its Convertible Debt and Senior Notes for disclosure purposes. These fair values are based on observable market prices for this debt, which is traded in less active markets and are therefore classified as a Level 2 fair value measurement. The following table shows the carrying amounts and fair values of the Company's debt obligations (in millions): December 31, 2021 March 31, 2021 Carrying Amount (1) Fair Value Carrying Amount (1) Fair Value Revolving Credit Facility $ 1,528.9 $ 1,540.1 $ 2,336.6 $ 2,346.6 3.922% 2021 Notes — — 999.0 1,004.3 4.333% 2023 Notes 994.9 1,041.8 992.3 1,022.4 2.670% 2023 Notes 997.5 1,022.5 996.4 1,040.8 0.972% 2024 Notes 1,395.7 1,389.5 1,394.2 1,394.0 0.983% 2024 Notes 996.0 985.1 — — 4.250% 2025 Notes 1,187.8 1,245.0 1,185.5 1,252.6 2015 Senior Convertible Debt 30.3 132.7 120.6 485.4 2017 Senior Convertible Debt 155.2 495.7 260.2 731.4 2020 Senior Convertible Debt 576.8 841.9 555.6 778.3 2017 Junior Convertible Debt 5.4 24.9 63.7 272.9 Total $ 7,868.5 $ 8,719.2 $ 8,904.1 $ 10,328.7 (1) The carrying amounts presented are net of debt discounts and debt issuance costs (see Note 6 for further information).

Intangible Assets and Goodwill

Intangible Assets and Goodwill	9 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible assets consist of the following (in millions): December 31, 2021 Gross Amount Accumulated Amortization Net Amount Core and developed technology $ 7,387.6 $ (3,374.4) $ 4,013.2 Customer-related 835.2 (736.2) 99.0 In-process research and development 6.4 — 6.4 Distribution rights and other 193.6 (55.9) 137.7 Total $ 8,422.8 $ (4,166.5) $ 4,256.3 March 31, 2021 Gross Amount Accumulated Amortization Net Amount Core and developed technology $ 7,371.3 $ (2,771.0) $ 4,600.3 Customer-related 835.2 (702.6) 132.6 In-process research and development 7.7 — 7.7 Distribution rights and other 130.2 (76.0) 54.2 Total $ 8,344.4 $ (3,549.6) $ 4,794.8 The following is an expected amortization schedule for the intangible assets for the remainder of fiscal 2022 through fiscal 2026, absent any future acquisitions or impairment charges (in millions): Fiscal Year Ending March 31, Projected Amortization Expense 2022 $ 233.1 2023 $ 743.2 2024 $ 666.0 2025 $ 531.0 2026 $ 459.8 The Company amortizes intangible assets over their expected useful lives, which range between 1 and 15 years. Amortization expense attributed to intangible assets are assigned to cost of sales and operating expenses as follows (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Amortization expense charged to cost of sales $ 3.2 $ 2.4 $ 9.1 $ 6.9 Amortization expense charged to operating expense 232.5 244.2 691.4 738.2 Total amortization expense $ 235.7 $ 246.6 $ 700.5 $ 745.1 There were no impairment charges in the three and nine months ended December 31, 2021 and December 31, 2020. Goodwill activity for the nine months ended December 31, 2021 by segment was as follows (in millions): Semiconductor Products Reporting Unit Technology Licensing Reporting Unit Balance at March 31, 2021 $ 6,651.4 $ 19.2 Additions 3.0 — Balance at December 31, 2021 $ 6,654.4 $ 19.2 At March 31, 2021, the Company applied a qualitative goodwill impairment test to its two reporting units, concluding it was not more likely than not that goodwill was impaired. Through December 31, 2021, the Company has never recorded an impairment charge.

Other Financial Statement Detai

Other Financial Statement Details	9 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other Financial Statement Details	Other Financial Statement Details Accounts Receivable Accounts receivable consists of the following (in millions): December 31, March 31, 2021 2021 Trade accounts receivable $ 922.3 $ 991.6 Other 13.8 11.3 Total accounts receivable, gross 936.1 1,002.9 Less: allowance for expected credit losses 6.0 5.2 Total accounts receivable, net $ 930.1 $ 997.7 Inventories The components of inventories consist of the following (in millions): December 31, March 31, 2021 2021 Raw materials $ 150.5 $ 115.7 Work in process 429.9 412.8 Finished goods 187.8 136.5 Total inventories $ 768.2 $ 665.0 Property, Plant and Equipment Property, plant and equipment consists of the following (in millions): December 31, March 31, 2021 2021 Land $ 82.5 $ 83.2 Building and building improvements 666.7 659.7 Machinery and equipment 2,442.8 2,251.1 Projects in process 117.4 102.7 Total property, plant and equipment, gross 3,309.4 3,096.7 Less: accumulated depreciation and amortization 2,379.5 2,242.0 Total property, plant and equipment, net $ 929.9 $ 854.7 Depreciation expense attributed to property, plant and equipment was $64.9 million and $149.8 million for the three and nine months ended December 31, 2021, respectively, compared to $40.3 million and $120.4 million for the three and nine months ended December 31, 2020, respectively. The increase in depreciation expense during the three months ended December 31, 2021 includes the impact of current production levels, manufacturing expansion activities and moving and repurposing floor space and equipment. The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amount of such assets may not be recoverable. For each of the three and nine months ended December 31, 2021 and 2020, the Company’s evaluation of its property, plant and equipment did not result in any material impairments. Accrued Liabilities Accrued liabilities consists of the following (in millions): December 31, March 31, 2021 2021 Accrued compensation and benefits $ 203.7 $ 166.7 Income taxes payable 80.1 43.4 Sales related reserves 339.1 350.7 Current portion of lease liabilities 35.0 39.8 Accrued expenses and other liabilities 259.5 193.7 Total accrued liabilities $ 917.4 $ 794.3

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Indemnification Contingencies The Company's technology license agreements generally include an indemnification clause that indemnifies the licensee against liability and damages (including legal defense costs) arising from any claims of patent, copyright, trademark or trade secret infringement by the Company's proprietary technology. The terms of these indemnification provisions approximate the terms of the outgoing technology license agreements, which are typically perpetual unless terminated by either party for breach. The possible amount of future payments the Company could be required to make based on agreements that specify indemnification limits, if such indemnifications were required on all of these agreements, is approximately $178.4 million. There are some licensing agreements in place that do not specify indemnification limits. As of December 31, 2021, the Company had not recorded any liabilities related to these indemnification obligations and the Company believes that any amounts that it may be required to pay under these agreements in the future will not have a material adverse effect on its financial position, cash flows or results of operations. Warranty Costs and Product Liabilities The Company accrues for known product-related claims if a loss is probable and can be reasonably estimated. During the periods presented, there have been no material accruals or payments regarding product warranty or product liability. Historically, the Company has experienced a low rate of payments on product claims. Although the Company cannot predict the likelihood or amount of any future claims, the Company does not believe these claims will have a material adverse effect on its financial condition, results of operations or liquidity. Legal Matters In the ordinary course of the Company's business, it is exposed to various liabilities as a result of contracts, product liability, customer claims, governmental investigations and other matters. Additionally, the Company is involved in a limited number of legal actions, both as plaintiff and defendant. Consequently, the Company could incur uninsured liability in any of those actions. The Company also periodically receives notifications from various third parties alleging infringement of patents or other intellectual property rights, or from customers requesting reimbursement for various costs. With respect to pending legal actions to which the Company is a party and other claims, although the outcomes are generally not determinable, the Company believes that the ultimate resolution of these matters will not have a material adverse effect on its financial position, cash flows or results of operations. Litigation, governmental investigations and disputes relating to the semiconductor industry are not uncommon, and the Company is, from time to time, subject to such litigation, governmental investigations and disputes. As a result, no assurances can be given with respect to the extent or outcome of any such litigation, governmental investigations or disputes in the future. In connection with its acquisition of Microsemi, which closed on May 29, 2018, the Company became involved with the following legal matters: Federal Shareholder Class Action Litigation . Beginning on September 14, 2018, the Company and certain of its officers were named in two putative shareholder class action lawsuits filed in the United States District Court for the District of Arizona, captioned Jackson v. Microchip Technology Inc., et al., Case No. 2:18-cv-02914-ROS and Maknissian v. Microchip Technology Inc., et al., Case No. 2:18-cv-02924-JJT. On November 13, 2018, the Maknissian complaint was voluntarily dismissed. On December 11, 2018, the Court issued an order appointing the lead plaintiff in the Jackson matter. An amended complaint was filed on February 22, 2019. The complaint is allegedly brought on behalf of a putative class of purchasers of Microchip common stock between March 2, 2018 and August 9, 2018. The complaint asserts claims for alleged violations of the federal securities laws and alleges that the defendants issued materially false and misleading statements and failed to disclose material adverse facts about the Company’s business, operations, and prospects during the putative class period. The complaint seeks, among other things, compensatory damages and attorneys’ fees and costs on behalf of the putative class. Defendants filed a motion to dismiss the amended complaint on April 1, 2019, which motion was granted in part and denied in part on March 11, 2020. Plaintiff filed a motion for class certification, which was granted by the Court. Discovery is ongoing. The Company and its officers have reached an agreement in principle to settle this litigation and are working on documenting that agreement for submission to the Court for its consideration. Derivative Litigation. On January 22, 2019, a shareholder derivative lawsuit was filed against certain of the Company’s officers and directors in the Superior Court of Arizona for Maricopa County, captioned Reid v. Sanghi , et al., Case No. CV2019-002389. The Company is named as a nominal defendant. The complaint generally alleges that defendants breached their fiduciary duties by, among other things, purportedly failing to conduct adequate due diligence regarding Microsemi prior to its acquisition, misrepresenting the Company’s business prospects and health, and engaging in improper practices, and further alleges that certain defendants engaged in insider trading. The complaint asserts causes of action for breach of fiduciary duty, waste, and unjust enrichment and seeks unspecified monetary damages, corporate governance reforms, equitable and/or injunctive relief, restitution, and attorneys’ fees and costs. An amended complaint was filed on February 28, 2020, and a second amended complaint was filed on July 27, 2020. The Company’s Audit Committee has filed a motion to dismiss. On August 5, 2021, a second shareholder derivative lawsuit was filed against certain of the Company’s officers and directors in the Superior Court of Arizona for Maricopa County, captioned Dutrisac v. Sanghi , et al., Case No. CV2021-012459. The Company is named as a nominal defendant. The complaint asserts substantially the same allegations as those in the Reid case. The complaint asserts causes of action for breaches of fiduciary duty, insider selling, unjust enrichment, waste of corporate assets, indemnification, and contribution and seeks unspecified monetary damages, equitable and/or injunctive relief, disgorgement, corporate governance reforms, and attorneys’ fees and costs. The Company's Audit Committee has filed a motion to dismiss. Governmental Investigations. The SEC informed the Company in October 2018 that it was investigating matters relating to the Company's acquisition of Microsemi. The Company believes that the investigation relates to distribution channel issues and business practices at Microsemi and the allegations made by the plaintiffs in the Peterson v. Sanghi lawsuit which was described in the Company’s prior filings on Form 10-Q and Form 10-K and which lawsuit has been settled and dismissed. The Department of Justice, which was also investigating those matters, informed the Company in February 2021 that its investigation is closed and that no further action will be taken. As a result of its acquisition of Atmel, which closed April 4, 2016, the Company became involved with the following legal matters: Continental Claim ICC Arbitration. On December 29, 2016, Continental Automotive GmbH ("Continental") filed a Request for Arbitration with the ICC, naming as respondents the Company's subsidiaries Atmel Corporation, Atmel SARL, Atmel Global Sales Ltd., and Atmel Automotive GmbH (collectively, "Atmel"). The Request alleges that a quality issue affecting Continental airbag control units in certain recalled vehicles stems from allegedly defective Atmel application specific integrated circuits ("ASICs"). Continental seeks to recover from Atmel all current and future costs and damages incurred as a result of the vehicle manufacturers’ airbag control unit-related recalls, with current costs and damages alleged to be about $89 million to date. The Company's Atmel subsidiaries intend to defend this action vigorously. Southern District of New York Action by LFoundry Rousset ("LFR") and LFR Employees . On March 4, 2014, LFR and Jean-Yves Guerrini, individually and on behalf of a putative class of LFR employees, filed an action in the United States District Court for the Southern District of New York (the "District Court") against the Company's Atmel subsidiary, French subsidiary, Atmel Rousset S.A.S. ("Atmel Rousset"), and LFoundry GmbH ("LF"), LFR's German parent. The case purports to relate to Atmel Rousset's June 2010 sale of its wafer manufacturing facility in Rousset, France to LF, and LFR's subsequent insolvency, and later liquidation, more than three years later. The District Court dismissed the case on August 21, 2015, and the United States Court of Appeals for the Second Circuit affirmed the dismissal on June 27, 2016. On July 25, 2016, the plaintiffs filed a notice of appeal from the District Court's June 27, 2016 denial of their motion for relief from the dismissal judgment. On May 19, 2017, the United States Court of Appeals for the Second Circuit affirmed the June 27, 2016 order dismissing the case. Individual Labor Actions by former LFR Employees . In June 2010, Atmel Rousset sold its wafer manufacturing business in Rousset, France to LFoundry GmbH ("LF"), the German parent of LFoundry Rousset ("LFR"). LFR then leased the Atmel Rousset facility to conduct the manufacture of wafers. More than three years later, LFR became insolvent and later liquidated. In the wake of LFR's insolvency and liquidation, over 500 former employees of LFR filed individual labor actions against Atmel Rousset in a French labor court, and in 2019 a French labor court dismissed all of the employees’ claims against Atmel Rousset. Plaintiffs have filed appeals requesting reconsideration of the earlier dismissals. Furthermore, these same claims have been filed by this same group of employees in a regional court in France against Microchip Technology Incorporated and Atmel Corporation. The Company , and the other defendant entities, believe that each of these actions is entirely devoid of merit, and, further, that any assertion by any of the Claimants of a co-employment relationship with any of these entities is based substantially on the same specious arguments that the Paris Commercial Court summarily rejected in 2014 in related proceedings. The defendant entities therefore intend to defend vigorously against each of these claims. Additionally, complaints have been filed in a regional court in France on behalf of the same group of employees against Microchip

Income Taxes

Income Taxes	9 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with ASC 740. The provision or benefit for income taxes is attributable to U.S. federal, state, and foreign income taxes. The Company’s effective tax rate used for interim periods is based on an estimated annual effective tax rate including the tax effect of items required to be recorded discretely in the interim periods in which those items occur. A comparison of the Company’s effective tax rates for the nine months ended December 31, 2021 and December 31, 2020 is not meaningful due to the amount of pre-tax income, and income tax benefits recorded during the prior period. The Company's effective tax rate is different than the statutory rates in the U.S. due to foreign income taxed at different rates than the U.S., changes in uncertain tax benefit positions, changes to valuation allowances, generation of tax credits, and the impact of Global Intangible Low-Taxed Income (GILTI) in the United States. In addition, the Company has numerous tax holidays it receives related to its Thailand manufacturing operations based on its investment in property, plant and equipment in Thailand. The Company's tax holiday periods in Thailand expire at various times in the future, however, the Company actively seeks to obtain new tax holidays. The material components of foreign income taxed at a rate lower than the U.S. are earnings accrued in Thailand and Ireland. The Company files U.S. federal, U.S. state, and foreign income tax returns. For U.S. federal, and in general for U.S. state tax returns, the fiscal 2007 and later tax years remain open for examination by tax authorities. For foreign tax returns, the Company is generally no longer subject to income tax examinations for years prior to fiscal 2007. The Company estimates that it is reasonably possible unrecognized tax benefits as of December 31, 2021 could decrease by approximately $10.0 million to $60.0 million in the next 12 months. Positions that may be resolved include various U.S. and non-U.S. matters.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The following table presents the details of the Company's share-based compensation expense (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Cost of sales (1) $ 8.4 $ 6.4 $ 26.3 $ 18.8 Research and development 23.4 25.0 76.1 70.0 Selling, general and administrative 19.1 19.8 60.8 54.5 Pre-tax effect of share-based compensation 50.9 51.2 163.2 143.3 Income tax benefit 10.8 10.7 34.6 30.5 Net income effect of share-based compensation $ 40.1 $ 40.5 $ 128.6 $ 112.8 (1) During the three and nine months ended December 31, 2021, $5.3 million and $16.4 million, respectively, of share-based compensation expense was capitalized to inventory and $8.4 million and $26.3 million, respectively, of previously capitalized share-based compensation expense in inventory was sold. During the three and nine months ended December 31, 2020, $4.5 million and $11.9 million, respectively, of share-based compensation expense was capitalized to inventory and $6.4 million and $18.8 million, respectively, of previously capitalized share-based compensation expense in inventory was sold.

Stock Repurchase Activity

Stock Repurchase Activity	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Stock Repurchase Activity	Stock Repurchase Activity In November 2021, the Company's Board of Directors approved a new stock repurchase program to repurchase up to $4.00 billion of the Company's common stock in the open market or in privately negotiated transactions. There is no expiration date associated with the repurchase program. During the three and nine months ended December 31, 2021, the Company purchased approximately 2.0 million shares of its common stock for a total of $166.0 million under the new authorization. As of December 31, 2021, approximately $3.83 billion remained available for repurchases under the program. Shares repurchased are recorded as treasury shares and are used to fund share issuance requirements under the Company's equity incentive plans. As of December 31, 2021, the Company had approximately 20.8 million treasury shares.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss The following table presents the changes in the components of accumulated other comprehensive loss, net of tax, (AOCI) (in millions): Minimum Pension Liability Foreign Currency Total Balance at March 31, 2021 $ (13.4) $ (12.8) $ (26.2) Other comprehensive income (loss) before reclassifications 2.8 (1.7) 1.1 Reclassification of realized transactions 1.8 — 1.8 Net other comprehensive income (loss) 4.6 (1.7) 2.9 Balance at December 31, 2021 $ (8.8) $ (14.5) $ (23.3) The table below details where reclassifications of realized transactions out of accumulated other comprehensive loss are recorded on the consolidated statements of income (in millions): Three Months Ended December 31, Nine Months Ended December 31, Related Statement of Income Line Description of AOCI Component 2021 2020 2021 2020 Amortization of actuarial loss $ (0.6) $ (0.3) $ (1.8) $ (0.9) Other income (loss), net

Dividends

Dividends	9 Months Ended
	Dec. 31, 2021
Dividends [Abstract]
Dividends	Dividends A quarterly cash dividend of $0.232 per share was paid on December 3, 2021 in the aggregate amount of $128.7 million.  A quarterly cash dividend of $0.253 per share was declared on February 3, 2022 and will be paid on March 8, 2022 to stockholders of record as of February 22, 2022. The Company expects the March 2022 payment of its quarterly cash dividend to be approximately $141.0 million.

Recently Issued Accounting Poli

Recently Issued Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements Not Yet Adopted	Recently Adopted Accounting Pronouncements On April 1, 2021, the Company adopted ASU 2019-12- Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. This guidance enhances and simplifies various aspects of income tax accounting, including requirements related to hybrid tax regimes, the tax basis step-up in goodwill obtained in a transaction that is not a business combination, separate financial statements of entities not subject to tax, the intraperiod tax allocation exception to the incremental approach, ownership changes in investments, interim-period accounting for enacted changes in tax law, and the year-to-date loss limitation in interim-period tax accounting. The adoption of this standard did not have a material impact on the Company's condensed consolidated financial statements. Recently Issued Accounting Pronouncements Not Yet Adopted In August 2020, the FASB issued ASU 2020-06- Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Net Sales and Gross Profit for Each Segment	The following tables represent net sales and gross profit for each segment for the periods presented (in millions): Three Months Ended December 31, 2021 Nine Months Ended December 31, 2021 Net Sales Gross Profit Net Sales Gross Profit Semiconductor products $ 1,725.5 $ 1,121.3 $ 4,884.5 $ 3,137.0 Technology licensing 32.0 32.0 92.2 92.2 Total $ 1,757.5 $ 1,153.3 $ 4,976.7 $ 3,229.2 Three Months Ended December 31, 2020 Nine Months Ended December 31, 2020 Net Sales Gross Profit Net Sales Gross Profit Semiconductor products $ 1,319.9 $ 813.6 $ 3,893.9 $ 2,374.6 Technology licensing 32.2 32.2 77.4 77.4 Total $ 1,352.1 $ 845.8 $ 3,971.3 $ 2,452.0

Net Sales (Tables)

Net Sales (Tables)	9 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table represents the Company's net sales by product line (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Microcontrollers $ 972.2 $ 726.3 $ 2,768.7 $ 2,145.8 Analog 500.5 372.8 1,423.5 1,104.7 Other 284.8 253.0 784.5 720.8 Total net sales $ 1,757.5 $ 1,352.1 $ 4,976.7 $ 3,971.3 The following table represents the Company's net sales by contract type (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Distributors $ 787.1 $ 681.6 $ 2,387.2 $ 2,003.7 Direct customers 938.4 638.3 2,497.3 1,890.2 Licensees 32.0 32.2 92.2 77.4 Total net sales $ 1,757.5 $ 1,352.1 $ 4,976.7 $ 3,971.3

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted net income per common share (in millions, except per share amounts): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Net income $ 352.8 $ 36.2 $ 847.6 $ 233.4 Basic weighted average common shares outstanding 554.9 526.8 551.2 511.4 Dilutive effect of stock options and RSUs 7.0 7.3 7.4 6.6 Dilutive effect of 2015 Senior Convertible Debt 2.0 7.0 3.1 10.8 Dilutive effect of 2017 Senior Convertible Debt 3.0 5.7 3.4 3.0 Dilutive effect of 2017 Junior Convertible Debt 0.4 4.0 1.0 2.1 Diluted weighted average common shares outstanding 567.3 550.8 566.1 533.9 Basic net income per common share $ 0.64 $ 0.07 $ 1.54 $ 0.46 Diluted net income per common share $ 0.62 $ 0.07 $ 1.50 $ 0.44
Schedule of Convertible Debt	The following is the weighted average conversion price per share used in calculating the dilutive effect (see Note 6 for details on the Convertible Debt): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 2015 Senior Convertible Debt $ 30.05 $ 30.39 $ 30.14 $ 30.49 2017 Senior Convertible Debt $ 46.86 $ 47.39 $ 47.00 $ 47.55 2020 Senior Convertible Debt $ 93.32 $ 93.44 $ 93.37 $ 93.44 2017 Junior Convertible Debt $ 46.04 $ 46.56 $ 46.17 $ 46.72

Debt (Tables)

Debt (Tables)	9 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Debt obligations included in the condensed consolidated balance sheets consisted of the following (in millions): Coupon Interest Rate Effective Interest Rate Fair Value of Liability Component at Issuance (1) December 31, 2021 March 31, 2021 Revolving Credit Facility $ 1,540.1 $ 2,346.6 3.922% 2021 Notes 3.922% 4.5% — 1,000.0 4.333% 2023 Notes 4.333% 4.7% 1,000.0 1,000.0 2.670% 2023 Notes 2.670% 2.8% 1,000.0 1,000.0 0.972% 2024 Notes 0.972% 1.1% 1,400.0 1,400.0 0.983% 2024 Notes (2) 0.983% 1.1% 1,000.0 — 4.250% 2025 Notes 4.250% 4.6% 1,200.0 1,200.0 Total Senior Indebtedness (3) 7,140.1 7,946.6 Senior Subordinated Convertible Debt - Principal Outstanding 2015 Senior Convertible Debt 1.625% 5.9% $ 30.4 34.4 141.4 2017 Senior Convertible Debt 1.625% 6.0% $ 155.9 193.0 333.3 2020 Senior Convertible Debt 0.125% 5.1% $ 555.5 665.5 665.5 Junior Subordinated Convertible Debt - Principal Outstanding 2017 Junior Convertible Debt 2.250% 7.4% $ 5.4 10.1 122.6 Total Convertible Debt 903.0 1,262.8 Gross long-term debt including current maturities 8,043.1 9,209.4 Less: Debt discount (4) (146.9) (273.0) Less: Debt issuance costs (5) (27.7) (32.3) Net long-term debt including current maturities 7,868.5 8,904.1 Less: Current maturities (6) — (1,322.9) Net long-term debt $ 7,868.5 $ 7,581.2 (1) As each of the convertible debt instruments may be settled in cash upon conversion, for accounting purposes, they were bifurcated into a liability component and an equity component. The amount allocated to the equity component is the difference between the principal value of the instrument and the fair value of the liability component at issuance. The resulting debt discount is being amortized to interest expense at the respective effective interest rate over the contractual term of the debt. (2) The 0.983% 2024 Notes mature on September 1, 2024, and interest is payable semi-annually in arrears on March 1 and September 1 of each year. (3) The 4.333% 2023 Notes, the 2.670% 2023 Notes, the 0.972% 2024 Notes, the 0.983% 2024 Notes, the 4.250% 2025 Notes, and the Revolving Credit Facility are senior unsecured debt. Prior to the December 16, 2021 amendment, the 4.333% 2023 Notes, the 2.670% 2023 Notes, the 0.972% 2024 Notes, the 0.983% 2024 Notes, and the Revolving Credit Facility were senior secured debt. (4) The unamortized discount consists of the following (in millions): December 31, March 31, 2021 2021 3.922% 2021 Notes $ — $ (0.3) 4.333% 2023 Notes (1.6) (2.4) 2.670% 2023 Notes (1.6) (2.3) 0.972% 2024 Notes (2.8) (3.8) 0.983% 2024 Notes (2.5) — 4.250% 2025 Notes (10.8) (12.8) 2015 Senior Convertible Debt (4.0) (20.1) 2017 Senior Convertible Debt (36.9) (71.3) 2020 Senior Convertible Debt (82.0) (101.6) 2017 Junior Convertible Debt (4.7) (58.4) Total unamortized discount $ (146.9) $ (273.0) (5) Debt issuance costs consist of the following (in millions): December 31, March 31, 2021 2021 Revolving Credit Facility $ (11.2) $ (10.0) 3.922% 2021 Notes — (0.7) 4.333% 2023 Notes (3.5) (5.3) 2.670% 2023 Notes (0.9) (1.3) 0.972% 2024 Notes (1.5) (2.0) 0.983% 2024 Notes (1.5) — 4.250% 2025 Notes (1.4) (1.7) 2015 Senior Convertible Debt (0.1) (0.7) 2017 Senior Convertible Debt (0.9) (1.8) 2020 Senior Convertible Debt (6.7) (8.3) 2017 Junior Convertible Debt — (0.5) Total debt issuance costs $ (27.7) $ (32.3)
Schedule of Maturities of Long-term Debt	Expected maturities relating to the Company’s debt obligations as of December 31, 2021 are as follows (in millions): Fiscal year ending March 31, Expected Maturities 2022 $ — 2023 — 2024 3,400.0 2025 1,700.0 2026 1,200.0 Thereafter 1,743.1 Total $ 8,043.1
Convertible Debt	The following table sets forth the applicable conversion rates adjusted for dividends declared since issuance of such series of Convertible Debt and the applicable incremental share factors and maximum conversion rates as adjusted for dividends paid since the applicable issuance date: Dividend adjusted rates as of December 31, 2021 Conversion Rate Approximate Conversion Price Incremental Share Factor Maximum Conversion Rate 2015 Senior Convertible Debt (1) 33.3270 $ 30.01 16.6635 46.6576 2017 Senior Convertible Debt (1) 21.3712 $ 46.79 10.6856 30.4540 2020 Senior Convertible Debt (1) 10.7188 $ 93.29 — 15.0062 2017 Junior Convertible Debt (1) 21.7529 $ 45.97 10.8766 30.4540
Schedule of Interest Expense	Interest expense consists of the following (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Debt issuance cost amortization $ 2.2 $ 3.7 $ 7.4 $ 11.5 Debt discount amortization 1.7 1.6 5.3 4.7 Interest expense 45.3 59.2 144.9 171.3 Total interest expense on Senior Indebtedness 49.2 64.5 157.6 187.5 Debt issuance cost amortization 0.6 0.5 1.8 1.7 Debt discount amortization 9.0 12.8 29.6 52.8 Coupon interest expense 1.5 7.8 6.5 33.9 Total interest expense on Convertible Debt 11.1 21.1 37.9 88.4 Other interest expense 1.8 0.9 3.7 3.0 Total interest expense $ 62.1 $ 86.5 $ 199.2 $ 278.9
Schedule of Settlement Transactions	The Company's settlement transactions in the nine months ended December 31, 2021 consist of the following (in millions) (1) : Principal Amount Settled Consideration Fair Value Settled (2) Equity Component (2) Net Loss on Inducements and Settlements Cash Paid Value of Shares Issued Total December 2021 2015 Senior Convertible Debt (3) $ 36.6 $ 36.6 $ 103.9 $ 140.5 $ 36.2 $ 104.2 $ 4.1 2017 Senior Convertible Debt (3) $ 39.7 $ 39.7 $ 61.4 $ 101.1 $ 37.4 $ 63.0 $ 6.3 2017 Junior Convertible Debt (3) $ 19.9 $ 19.9 $ 31.6 $ 51.5 $ 15.7 $ 35.9 $ 5.1 Revolving Credit Facility (4) $ — $ — $ — $ — $ — $ — $ 0.6 August 2021 (5) 2015 Senior Convertible Debt $ 70.4 $ 70.4 $ 159.9 $ 230.3 $ 71.0 $ 158.9 $ 10.6 2017 Senior Convertible Debt $ 100.7 $ 100.7 $ 123.5 $ 224.2 $ 100.0 $ 113.0 $ 31.5 2017 Junior Convertible Debt $ 92.5 $ 92.5 $ 115.8 $ 208.3 $ 87.7 $ 116.6 $ 43.1 June 2021 (6) 3.922% 2021 Notes $ 1,000.0 $ 1,000.0 $ — $ 1,000.0 $ — $ — $ 0.3 (1) The Company settled portions of its convertible debt in privately negotiated transactions that are accounted for as induced conversions. (2) The total consideration for the convertible debt settlements was allocated to the liability and equity components using the equivalent rate that reflected the borrowing rate for a similar non-convertible debt instrument prior to the settlement. (3) The Company used cash generated from operations to finance a portion of such settlement. (4) In connection with the amendment and restatement of its Credit Agreement, the Company recognized a loss on settlement of debt of $0.6 million. (5) The Company used borrowings under its Revolving Credit Facility to finance a portion of such settlement. (6) The Company used proceeds from the issuance of the 0.983% 2024 Notes to finance a portion of such settlement.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Summary of Carrying Amount and Fair Values	The following table shows the carrying amounts and fair values of the Company's debt obligations (in millions): December 31, 2021 March 31, 2021 Carrying Amount (1) Fair Value Carrying Amount (1) Fair Value Revolving Credit Facility $ 1,528.9 $ 1,540.1 $ 2,336.6 $ 2,346.6 3.922% 2021 Notes — — 999.0 1,004.3 4.333% 2023 Notes 994.9 1,041.8 992.3 1,022.4 2.670% 2023 Notes 997.5 1,022.5 996.4 1,040.8 0.972% 2024 Notes 1,395.7 1,389.5 1,394.2 1,394.0 0.983% 2024 Notes 996.0 985.1 — — 4.250% 2025 Notes 1,187.8 1,245.0 1,185.5 1,252.6 2015 Senior Convertible Debt 30.3 132.7 120.6 485.4 2017 Senior Convertible Debt 155.2 495.7 260.2 731.4 2020 Senior Convertible Debt 576.8 841.9 555.6 778.3 2017 Junior Convertible Debt 5.4 24.9 63.7 272.9 Total $ 7,868.5 $ 8,719.2 $ 8,904.1 $ 10,328.7 (1) The carrying amounts presented are net of debt discounts and debt issuance costs (see Note 6 for further information).

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	9 Months Ended
	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, Indefinite-Lived	Intangible assets consist of the following (in millions): December 31, 2021 Gross Amount Accumulated Amortization Net Amount Core and developed technology $ 7,387.6 $ (3,374.4) $ 4,013.2 Customer-related 835.2 (736.2) 99.0 In-process research and development 6.4 — 6.4 Distribution rights and other 193.6 (55.9) 137.7 Total $ 8,422.8 $ (4,166.5) $ 4,256.3 March 31, 2021 Gross Amount Accumulated Amortization Net Amount Core and developed technology $ 7,371.3 $ (2,771.0) $ 4,600.3 Customer-related 835.2 (702.6) 132.6 In-process research and development 7.7 — 7.7 Distribution rights and other 130.2 (76.0) 54.2 Total $ 8,344.4 $ (3,549.6) $ 4,794.8
Schedule of Intangible Assets, Finite-Lived	Intangible assets consist of the following (in millions): December 31, 2021 Gross Amount Accumulated Amortization Net Amount Core and developed technology $ 7,387.6 $ (3,374.4) $ 4,013.2 Customer-related 835.2 (736.2) 99.0 In-process research and development 6.4 — 6.4 Distribution rights and other 193.6 (55.9) 137.7 Total $ 8,422.8 $ (4,166.5) $ 4,256.3 March 31, 2021 Gross Amount Accumulated Amortization Net Amount Core and developed technology $ 7,371.3 $ (2,771.0) $ 4,600.3 Customer-related 835.2 (702.6) 132.6 In-process research and development 7.7 — 7.7 Distribution rights and other 130.2 (76.0) 54.2 Total $ 8,344.4 $ (3,549.6) $ 4,794.8
Schedule of Projected Amortization Expense	The following is an expected amortization schedule for the intangible assets for the remainder of fiscal 2022 through fiscal 2026, absent any future acquisitions or impairment charges (in millions): Fiscal Year Ending March 31, Projected Amortization Expense 2022 $ 233.1 2023 $ 743.2 2024 $ 666.0 2025 $ 531.0 2026 $ 459.8
Schedule of Amortization Expense by Intangible Asset Class	Amortization expense attributed to intangible assets are assigned to cost of sales and operating expenses as follows (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Amortization expense charged to cost of sales $ 3.2 $ 2.4 $ 9.1 $ 6.9 Amortization expense charged to operating expense 232.5 244.2 691.4 738.2 Total amortization expense $ 235.7 $ 246.6 $ 700.5 $ 745.1
Schedule of Goodwill Activity	Goodwill activity for the nine months ended December 31, 2021 by segment was as follows (in millions): Semiconductor Products Reporting Unit Technology Licensing Reporting Unit Balance at March 31, 2021 $ 6,651.4 $ 19.2 Additions 3.0 — Balance at December 31, 2021 $ 6,654.4 $ 19.2

Other Financial Statement Det_2

Other Financial Statement Details (Tables)	9 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Accounts Receivable	Accounts receivable consists of the following (in millions): December 31, March 31, 2021 2021 Trade accounts receivable $ 922.3 $ 991.6 Other 13.8 11.3 Total accounts receivable, gross 936.1 1,002.9 Less: allowance for expected credit losses 6.0 5.2 Total accounts receivable, net $ 930.1 $ 997.7
Summary of Inventory	The components of inventories consist of the following (in millions): December 31, March 31, 2021 2021 Raw materials $ 150.5 $ 115.7 Work in process 429.9 412.8 Finished goods 187.8 136.5 Total inventories $ 768.2 $ 665.0
Summary of Property, Plant and Equipment	Property, plant and equipment consists of the following (in millions): December 31, March 31, 2021 2021 Land $ 82.5 $ 83.2 Building and building improvements 666.7 659.7 Machinery and equipment 2,442.8 2,251.1 Projects in process 117.4 102.7 Total property, plant and equipment, gross 3,309.4 3,096.7 Less: accumulated depreciation and amortization 2,379.5 2,242.0 Total property, plant and equipment, net $ 929.9 $ 854.7
Summary of Accrued Liabilities	Accrued liabilities consists of the following (in millions): December 31, March 31, 2021 2021 Accrued compensation and benefits $ 203.7 $ 166.7 Income taxes payable 80.1 43.4 Sales related reserves 339.1 350.7 Current portion of lease liabilities 35.0 39.8 Accrued expenses and other liabilities 259.5 193.7 Total accrued liabilities $ 917.4 $ 794.3

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Share-based Compensation Expense	The following table presents the details of the Company's share-based compensation expense (in millions): Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Cost of sales (1) $ 8.4 $ 6.4 $ 26.3 $ 18.8 Research and development 23.4 25.0 76.1 70.0 Selling, general and administrative 19.1 19.8 60.8 54.5 Pre-tax effect of share-based compensation 50.9 51.2 163.2 143.3 Income tax benefit 10.8 10.7 34.6 30.5 Net income effect of share-based compensation $ 40.1 $ 40.5 $ 128.6 $ 112.8 (1) During the three and nine months ended December 31, 2021, $5.3 million and $16.4 million, respectively, of share-based compensation expense was capitalized to inventory and $8.4 million and $26.3 million, respectively, of previously capitalized share-based compensation expense in inventory was sold. During the three and nine months ended December 31, 2020, $4.5 million and $11.9 million, respectively, of share-based compensation expense was capitalized to inventory and $6.4 million and $18.8 million, respectively, of previously capitalized share-based compensation expense in inventory was sold.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Dec. 31, 2021
Equity [Abstract]
Schedule of Changes in Components of Accumulated Other Comprehensive Income	The following table presents the changes in the components of accumulated other comprehensive loss, net of tax, (AOCI) (in millions): Minimum Pension Liability Foreign Currency Total Balance at March 31, 2021 $ (13.4) $ (12.8) $ (26.2) Other comprehensive income (loss) before reclassifications 2.8 (1.7) 1.1 Reclassification of realized transactions 1.8 — 1.8 Net other comprehensive income (loss) 4.6 (1.7) 2.9 Balance at December 31, 2021 $ (8.8) $ (14.5) $ (23.3)
Schedule of Reclassification Out of Other Comprehensive Income	The table below details where reclassifications of realized transactions out of accumulated other comprehensive loss are recorded on the consolidated statements of income (in millions): Three Months Ended December 31, Nine Months Ended December 31, Related Statement of Income Line Description of AOCI Component 2021 2020 2021 2020 Amortization of actuarial loss $ (0.6) $ (0.3) $ (1.8) $ (0.9) Other income (loss), net

Basis of Presentation (Details)

Basis of Presentation (Details)	Aug. 24, 2021shares	Dec. 31, 2021shares	Oct. 04, 2021shares	Aug. 23, 2021shares	Mar. 31, 2021shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock split, conversion ratio	2
Common stock, shares authorized (in shares)	900,000,000	900,000,000		450,000,000	900,000,000
Stock split, additional share issued per share			1

Segment Information - Net Sales

Segment Information - Net Sales and Gross Profit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Segment reporting information [Line Items]
Net Sales	$ 1,757.5	$ 1,352.1	$ 4,976.7	$ 3,971.3
Gross Profit	1,153.3	845.8	3,229.2	2,452
Semiconductor products
Segment reporting information [Line Items]
Net Sales	1,725.5	1,319.9	4,884.5	3,893.9
Gross Profit	1,121.3	813.6	3,137	2,374.6
Technology licensing
Segment reporting information [Line Items]
Net Sales	32	32.2	92.2	77.4
Gross Profit	$ 32	$ 32.2	$ 92.2	$ 77.4

Net Sales (Details)

Net Sales (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Total net sales	$ 1,757.5	$ 1,352.1	$ 4,976.7	$ 3,971.3
Distributors
Disaggregation of Revenue [Line Items]
Total net sales	787.1	681.6	2,387.2	2,003.7
Direct customers
Disaggregation of Revenue [Line Items]
Total net sales	938.4	638.3	2,497.3	1,890.2
Licensees
Disaggregation of Revenue [Line Items]
Total net sales	32	32.2	92.2	77.4
Microcontrollers
Disaggregation of Revenue [Line Items]
Total net sales	972.2	726.3	2,768.7	2,145.8
Analog
Disaggregation of Revenue [Line Items]
Total net sales	500.5	372.8	1,423.5	1,104.7
Other
Disaggregation of Revenue [Line Items]
Total net sales	$ 284.8	$ 253	$ 784.5	$ 720.8

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income	$ 352.8	$ 242	$ 252.8	$ 36.2	$ 73.6	$ 123.6	$ 847.6	$ 233.4
Basic weighted average common shares outstanding (in shares)	554,900,000			526,800,000			551,200,000	511,400,000
Dilutive effect of stock options and RSUs (in shares)	7,000,000			7,300,000			7,400,000	6,600,000
Diluted weighted average common shares outstanding (in shares)	567,300,000			550,800,000			566,100,000	533,900,000
Basic net income per common share (in dollars per share)	$ 0.64			$ 0.07			$ 1.54	$ 0.46
Diluted net income per common share (in dollars per share)	$ 0.62			$ 0.07			$ 1.50	$ 0.44
Antidilutive option shares (in shares)	0			0			0	0
2015 Senior Convertible Debt
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of Convertible Debt (in shares)	2,000,000			7,000,000			3,100,000	10,800,000
2015 Senior Convertible Debt | Weighted Average
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Debt instrument, convertible, conversion price (in dollars per share)	$ 30.05			$ 30.39			$ 30.14	$ 30.49
2017 Senior Convertible Debt
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of Convertible Debt (in shares)	3,000,000			5,700,000			3,400,000	3,000,000
2017 Senior Convertible Debt | Weighted Average
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Debt instrument, convertible, conversion price (in dollars per share)	$ 46.86			$ 47.39			$ 47	$ 47.55
2020 Senior Convertible Debt | Weighted Average
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Debt instrument, convertible, conversion price (in dollars per share)	$ 93.32			$ 93.44			$ 93.37	$ 93.44
2017 Junior Convertible Debt
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive effect of Convertible Debt (in shares)	400,000			4,000,000			1,000,000	2,100,000
2017 Junior Convertible Debt | Weighted Average
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Debt instrument, convertible, conversion price (in dollars per share)	$ 46.04			$ 46.56			$ 46.17	$ 46.72

Debt - Debt Obligations (Detail

Debt - Debt Obligations (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Gross long-term debt including current maturities	$ 8,043.1	$ 9,209.4
Less: Debt discount	(146.9)	(273)
Less: Debt issuance costs	(27.7)	(32.3)
Net long-term debt including current maturities	7,868.5	8,904.1
Less: Current maturities	0	(1,322.9)
Net long-term debt	7,868.5	7,581.2
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Gross long-term debt including current maturities	1,540.1	2,346.6
Less: Debt issuance costs	(11.2)	(10)
Senior Indebtedness
Debt Instrument [Line Items]
Gross long-term debt including current maturities	$ 7,140.1	7,946.6
Senior Indebtedness | 3.922% 2021 Notes
Debt Instrument [Line Items]
Coupon Interest Rate	3.922%
Effective Interest Rate	4.50%
Gross long-term debt including current maturities	$ 0	1,000
Less: Debt discount	0	(0.3)
Less: Debt issuance costs	$ 0	(0.7)
Senior Indebtedness | 4.333% 2023 Notes
Debt Instrument [Line Items]
Coupon Interest Rate	4.333%
Effective Interest Rate	4.70%
Gross long-term debt including current maturities	$ 1,000	1,000
Less: Debt discount	(1.6)	(2.4)
Less: Debt issuance costs	$ (3.5)	(5.3)
Senior Indebtedness | 2.670% 2023 Notes
Debt Instrument [Line Items]
Coupon Interest Rate	2.67%
Effective Interest Rate	2.80%
Gross long-term debt including current maturities	$ 1,000	1,000
Less: Debt discount	(1.6)	(2.3)
Less: Debt issuance costs	$ (0.9)	(1.3)
Senior Indebtedness | 0.972% 2024 Notes
Debt Instrument [Line Items]
Coupon Interest Rate	0.972%
Effective Interest Rate	1.10%
Gross long-term debt including current maturities	$ 1,400	1,400
Less: Debt discount	(2.8)	(3.8)
Less: Debt issuance costs	$ (1.5)	(2)
Senior Indebtedness | 0.983% 2024 Notes
Debt Instrument [Line Items]
Coupon Interest Rate	0.983%
Effective Interest Rate	1.10%
Gross long-term debt including current maturities	$ 1,000	0
Less: Debt discount	(2.5)	0
Less: Debt issuance costs	$ (1.5)	0
Senior Indebtedness | 4.250% 2025 Notes
Debt Instrument [Line Items]
Coupon Interest Rate	4.25%
Effective Interest Rate	4.60%
Gross long-term debt including current maturities	$ 1,200	1,200
Less: Debt discount	(10.8)	(12.8)
Less: Debt issuance costs	(1.4)	(1.7)
Convertible Debt
Debt Instrument [Line Items]
Gross long-term debt including current maturities	$ 903	1,262.8
Senior Subordinated Convertible Debt | 2015 Senior Convertible Debt
Debt Instrument [Line Items]
Coupon Interest Rate	1.625%
Effective Interest Rate	5.90%
Fair Value of Liability Component at Issuance	$ 30.4
Gross long-term debt including current maturities	34.4	141.4
Less: Debt discount	(4)	(20.1)
Less: Debt issuance costs	$ (0.1)	(0.7)
Senior Subordinated Convertible Debt | 2017 Senior Convertible Debt
Debt Instrument [Line Items]
Coupon Interest Rate	1.625%
Effective Interest Rate	6.00%
Fair Value of Liability Component at Issuance	$ 155.9
Gross long-term debt including current maturities	193	333.3
Less: Debt discount	(36.9)	(71.3)
Less: Debt issuance costs	$ (0.9)	(1.8)
Senior Subordinated Convertible Debt | 2020 Senior Convertible Debt
Debt Instrument [Line Items]
Coupon Interest Rate	0.125%
Effective Interest Rate	5.10%
Fair Value of Liability Component at Issuance	$ 555.5
Gross long-term debt including current maturities	665.5	665.5
Less: Debt discount	(82)	(101.6)
Less: Debt issuance costs	$ (6.7)	(8.3)
Junior Subordinated Convertible Debt | 2017 Junior Convertible Debt
Debt Instrument [Line Items]
Coupon Interest Rate	2.25%
Effective Interest Rate	7.40%
Fair Value of Liability Component at Issuance	$ 5.4
Gross long-term debt including current maturities	10.1	122.6
Less: Debt discount	(4.7)	(58.4)
Less: Debt issuance costs	$ 0	$ (0.5)

Debt - Unamortized Discount and

Debt - Unamortized Discount and Debt Issuance Costs (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021
Debt Instrument [Line Items]
Total unamortized discount	$ (146.9)	$ (273)
Total debt issuance costs	(27.7)	(32.3)
Senior Indebtedness | 3.922% 2021 Notes
Debt Instrument [Line Items]
Total unamortized discount	0	(0.3)
Total debt issuance costs	0	(0.7)
Senior Indebtedness | 4.333% 2023 Notes
Debt Instrument [Line Items]
Total unamortized discount	(1.6)	(2.4)
Total debt issuance costs	(3.5)	(5.3)
Senior Indebtedness | 2.670% 2023 Notes
Debt Instrument [Line Items]
Total unamortized discount	(1.6)	(2.3)
Total debt issuance costs	(0.9)	(1.3)
Senior Indebtedness | 0.972% 2024 Notes
Debt Instrument [Line Items]
Total unamortized discount	(2.8)	(3.8)
Total debt issuance costs	(1.5)	(2)
Senior Indebtedness | 0.983% 2024 Notes
Debt Instrument [Line Items]
Total unamortized discount	(2.5)	0
Total debt issuance costs	(1.5)	0
Senior Indebtedness | 4.250% 2025 Notes
Debt Instrument [Line Items]
Total unamortized discount	(10.8)	(12.8)
Total debt issuance costs	(1.4)	(1.7)
Senior Convertible Debt | 2015 Senior Convertible Debt
Debt Instrument [Line Items]
Total unamortized discount	(4)	(20.1)
Total debt issuance costs	(0.1)	(0.7)
Senior Convertible Debt | 2017 Senior Convertible Debt
Debt Instrument [Line Items]
Total unamortized discount	(36.9)	(71.3)
Total debt issuance costs	(0.9)	(1.8)
Senior Convertible Debt | 2020 Senior Convertible Debt
Debt Instrument [Line Items]
Total unamortized discount	(82)	(101.6)
Total debt issuance costs	(6.7)	(8.3)
Junior Convertible Debt | 2017 Junior Convertible Debt
Debt Instrument [Line Items]
Total unamortized discount	(4.7)	(58.4)
Total debt issuance costs	$ 0	$ (0.5)

Debt - Maturities (Details)

Debt - Maturities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021
Fiscal year ending March 31,
2022	$ 0
2023	0
2024	3,400
2025	1,700
2026	1,200
Thereafter	1,743.1
Gross long-term debt including current maturities	$ 8,043.1	$ 9,209.4

Debt - Summary of Conversion Fe

Debt - Summary of Conversion Features- Narrative (Details)	9 Months Ended
	Dec. 31, 2021USD ($)day
Debt Instrument [Line Items]
If-converted value in excess of principal | $	$ 1,000
2015 Senior Convertible Debt
Debt Instrument [Line Items]
Threshold percentage of stock price trigger	130.00%
Remaining period, in years, over which unamortized debt discount will be recognized as non-cash interest expense (in years)	3 years 1 month 6 days
2017 Senior Convertible Debt
Debt Instrument [Line Items]
Remaining period, in years, over which unamortized debt discount will be recognized as non-cash interest expense (in years)	5 years 1 month 6 days
2020 Senior Convertible Debt
Debt Instrument [Line Items]
Remaining period, in years, over which unamortized debt discount will be recognized as non-cash interest expense (in years)	2 years 10 months 24 days
2017 Junior Convertible Debt
Debt Instrument [Line Items]
Remaining period, in years, over which unamortized debt discount will be recognized as non-cash interest expense (in years)	15 years 1 month 6 days
Convertible Debt
Debt Instrument [Line Items]
Debt instrument, redemption price (percent)	100.00%
Convertible Debt | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Threshold percentage of stock price trigger	130.00%
Threshold trading days	20
Threshold consecutive trading days	30
Convertible Debt | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Threshold percentage of stock price trigger	98.00%
Threshold trading days	5
Threshold consecutive trading days	10

Debt - Convertible Debt (Detail

Debt - Convertible Debt (Details)	9 Months Ended
	Dec. 31, 2021USD ($)$ / shares
Debt Instrument [Line Items]
Value if converted above par | $	$ 1,000
2015 Senior Convertible Debt
Debt Instrument [Line Items]
Threshold percentage of stock price trigger	130.00%
Senior Convertible Debt | 2015 Senior Convertible Debt
Debt Instrument [Line Items]
Conversion Rate	33.3270
Approximate Conversion Price (in dollars per share)	$ 30.01
Incremental Share Factor	16.6635
Maximum Conversion Rate	46.6576
Conversion rate, adjusted based on closing stock price	44.2473
Value if converted above par | $	$ 98,200,000
Senior Convertible Debt | 2017 Senior Convertible Debt
Debt Instrument [Line Items]
Conversion Rate	21.3712
Approximate Conversion Price (in dollars per share)	$ 46.79
Incremental Share Factor	10.6856
Maximum Conversion Rate	30.4540
Conversion rate, adjusted based on closing stock price	26.3137
Value if converted above par | $	$ 249,200,000
Senior Convertible Debt | 2020 Senior Convertible Debt
Debt Instrument [Line Items]
Conversion Rate	10.7188
Approximate Conversion Price (in dollars per share)	$ 93.29
Incremental Share Factor	0
Maximum Conversion Rate	15.0062
Senior Convertible Debt | 2017 Junior Convertible Debt
Debt Instrument [Line Items]
Conversion rate, adjusted based on closing stock price	26.8863
Junior Convertible Debt | 2017 Junior Convertible Debt
Debt Instrument [Line Items]
Conversion Rate	21.7529
Approximate Conversion Price (in dollars per share)	$ 45.97
Incremental Share Factor	10.8766
Maximum Conversion Rate	30.4540
Value if converted above par | $	$ 13,600,000
Common Stock
Debt Instrument [Line Items]
Share price (in dollars per share)	$ 87.06

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt issuance cost amortization			$ 9.2	$ 13.2
Debt discount amortization			34.9	57.5
Other interest expense	$ 1.8	$ 0.9	3.7	3
Total interest expense	62.1	86.5	199.2	278.9
Senior Secured Indebtedness
Debt Instrument [Line Items]
Debt issuance cost amortization	2.2	3.7	7.4	11.5
Debt discount amortization	1.7	1.6	5.3	4.7
Interest expense	45.3	59.2	144.9	171.3
Total interest expense	49.2	64.5	157.6	187.5
Convertible Debt
Debt Instrument [Line Items]
Debt issuance cost amortization	0.6	0.5	1.8	1.7
Debt discount amortization	9	12.8	29.6	52.8
Interest expense	1.5	7.8	6.5	33.9
Total interest expense	$ 11.1	$ 21.1	$ 37.9	$ 88.4

Debt - Settlement of debt (Deta

Debt - Settlement of debt (Details) - USD ($) $ in Millions	1 Months Ended			3 Months Ended					9 Months Ended
	Dec. 31, 2021	Aug. 31, 2021	Jun. 30, 2021	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Cash Paid									$ 1,000	$ 0
Value of Shares Issued				$ 196.9	$ 399.2	$ 1,160.1	$ 768.7	$ 651.5
Net Loss on Inducements and Settlements				$ 16.1		$ 142.1			$ 101.6	$ 214
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Net Loss on Inducements and Settlements	$ 0.6
3.922% 2021 Notes | Senior Indebtedness
Debt Instrument [Line Items]
Principal Amount Settled			$ 1,000
Cash Paid			1,000
Total			1,000
Net Loss on Inducements and Settlements			$ 0.3
2015 Senior Convertible Debt | Senior Convertible Debt
Debt Instrument [Line Items]
Principal Amount Settled	36.6	$ 70.4
Cash Paid	36.6	70.4
Value of Shares Issued	103.9	159.9
Total	140.5	230.3
Fair Value Settled	36.2	71
Equity Component	104.2	158.9
Net Loss on Inducements and Settlements	4.1	10.6
2017 Senior Convertible Debt | Senior Convertible Debt
Debt Instrument [Line Items]
Principal Amount Settled	39.7	100.7
Cash Paid	39.7	100.7
Value of Shares Issued	61.4	123.5
Total	101.1	224.2
Fair Value Settled	37.4	100
Equity Component	63	113
Net Loss on Inducements and Settlements	6.3	31.5
2017 Junior Convertible Debt | Junior Convertible Debt
Debt Instrument [Line Items]
Principal Amount Settled	19.9	92.5
Cash Paid	19.9	92.5
Value of Shares Issued	31.6	115.8
Total	51.5	208.3
Fair Value Settled	15.7	87.7
Equity Component	35.9	116.6
Net Loss on Inducements and Settlements	$ 5.1	$ 43.1
0.983% 2024 Notes | Senior Indebtedness
Debt Instrument [Line Items]
Debt instrument, redemption price (percent)									101.00%

Debt - Senior Credit Facilities

Debt - Senior Credit Facilities (Details) - Line of Credit $ in Millions	1 Months Ended
	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Incremental borrowing capacity	$ 750
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 2,750
Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	0.125%
Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Daily Simple SOFR Rate | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Revolving Credit Facility | Daily Simple SOFR Rate | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility | EURIBOR | Minimum
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Revolving Credit Facility | EURIBOR | Maximum
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Revolving Credit Facility | Federal Funds Rate
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Revolving Credit Facility | Adjusted Term SOFR Rate
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%

Fair Value of Financial Instr_3

Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	$ 7,868.5	$ 8,904.1
Carrying Amount | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	1,528.9	2,336.6
Carrying Amount | 3.922% 2021 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	0	999
Carrying Amount | 4.333% 2023 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	994.9	992.3
Carrying Amount | 2.670% 2023 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	997.5	996.4
Carrying Amount | 0.972% 2024 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	1,395.7	1,394.2
Carrying Amount | 0.983% 2024 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	996	0
Carrying Amount | 4.250% 2025 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	1,187.8	1,185.5
Carrying Amount | 2015 Senior Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	30.3	120.6
Carrying Amount | 2017 Senior Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	155.2	260.2
Carrying Amount | 2020 Senior Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	576.8	555.6
Carrying Amount | 2017 Junior Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	5.4	63.7
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	8,719.2	10,328.7
Fair Value | Revolving Credit Facility
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	1,540.1	2,346.6
Fair Value | 3.922% 2021 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	0	1,004.3
Fair Value | 4.333% 2023 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	1,041.8	1,022.4
Fair Value | 2.670% 2023 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	1,022.5	1,040.8
Fair Value | 0.972% 2024 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	1,389.5	1,394
Fair Value | 0.983% 2024 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	985.1	0
Fair Value | 4.250% 2025 Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	1,245	1,252.6
Fair Value | 2015 Senior Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	132.7	485.4
Fair Value | 2017 Senior Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	495.7	731.4
Fair Value | 2020 Senior Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	841.9	778.3
Fair Value | 2017 Junior Convertible Debt
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value disclosure for debt obligations	$ 24.9	$ 272.9

Intangible Assets and Goodwil_2

Intangible Assets and Goodwill - Intangible Assets, by Major Class (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (4,166.5)	$ (3,549.6)
Gross Amount	8,422.8	8,344.4
Net Amount	4,256.3	4,794.8
Projected Amortization Expense
2022	233.1
2023	743.2
2024	666
2025	531
2026	$ 459.8
Minimum
Projected Amortization Expense
Useful life	1 year
Maximum
Projected Amortization Expense
Useful life	15 years
In-process research and development
Indefinite-lived Intangible Assets [Line Items]
In-process research and development	$ 6.4	7.7
Core and developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Amount	7,387.6	7,371.3
Accumulated Amortization	(3,374.4)	(2,771)
Net Amount	4,013.2	4,600.3
Customer-related
Finite-Lived Intangible Assets [Line Items]
Gross Amount	835.2	835.2
Accumulated Amortization	(736.2)	(702.6)
Net Amount	99	132.6
Distribution rights and other
Finite-Lived Intangible Assets [Line Items]
Gross Amount	193.6	130.2
Accumulated Amortization	(55.9)	(76)
Net Amount	$ 137.7	$ 54.2

Intangible Assets and Goodwil_3

Intangible Assets and Goodwill - Amortization of Intangible Assets (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 235,700,000	$ 246,600,000	$ 700,500,000	$ 745,100,000
Impairment of intangible assets	0	0	0	0
Amortization expense charged to cost of sales
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	3,200,000	2,400,000	9,100,000	6,900,000
Amortization expense charged to operating expense
Finite-Lived Intangible Assets [Line Items]
Total amortization expense	$ 232,500,000	$ 244,200,000	$ 691,400,000	$ 738,200,000

Intangible Assets and Goodwil_4

Intangible Assets and Goodwill - Goodwill by Reporting Segment (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 30, 2021unit	Dec. 31, 2021USD ($)	Mar. 31, 2021USD ($)
Goodwill By Reporting Segment [Line Items]
Goodwill		$ 6,673.6	$ 6,670.6
Number of reporting units | unit	2
Semiconductor Products Reporting Unit
Goodwill By Reporting Segment [Line Items]
Goodwill		6,654.4	6,651.4
Additions		3
Technology Licensing Reporting Unit
Goodwill By Reporting Segment [Line Items]
Goodwill		19.2	$ 19.2
Additions		$ 0

Other Financial Statement Det_3

Other Financial Statement Details - Accounts Receivable (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, gross	$ 936.1	$ 1,002.9
Less: allowance for expected credit losses	6	5.2
Total accounts receivable, net	930.1	997.7
Trade accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, gross	922.3	991.6
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total accounts receivable, gross	$ 13.8	$ 11.3

Other Financial Statement Det_4

Other Financial Statement Details - Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 150.5	$ 115.7
Work in process	429.9	412.8
Finished goods	187.8	136.5
Total inventories	$ 768.2	$ 665

Other Financial Statement Det_5

Other Financial Statement Details - Property, Plant and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 3,309.4		$ 3,309.4		$ 3,096.7
Less: accumulated depreciation and amortization	2,379.5		2,379.5		2,242
Total property, plant and equipment, net	929.9		929.9		854.7
Depreciation expense	64.9	$ 40.3	149.8	$ 120.4
Land
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	82.5		82.5		83.2
Building and building improvements
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	666.7		666.7		659.7
Machinery and equipment
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	2,442.8		2,442.8		2,251.1
Projects in process
Property, Plant and Equipment [Line Items]
Total property, plant and equipment, gross	$ 117.4		$ 117.4		$ 102.7

Other Financial Statement Det_6

Other Financial Statement Details - Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accrued compensation and benefits	$ 203.7	$ 166.7
Income taxes payable	80.1	43.4
Sales related reserves	339.1	350.7
Current portion of lease liabilities	35	39.8
Accrued expenses and other liabilities	259.5	193.7
Total accrued liabilities	$ 917.4	$ 794.3

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	1 Months Ended
	Jun. 30, 2010plaintiff	Dec. 31, 2021USD ($)	Sep. 14, 2018lawsuit
Loss Contingencies [Line Items]
Loss contingency, range of possible loss, portion not accrued		$ 100
Federal Shareholder Class Action Litigation
Loss Contingencies [Line Items]
Loss contingency, pending claims, number | lawsuit			2
Individual Labor Actions by former LFR Employees.
Loss Contingencies [Line Items]
Loss contingency, number of plaintiffs | plaintiff	500
Indemnification Agreement
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		178.4
Damages from Product Defects | Continental Claim ICC Arbitration.
Loss Contingencies [Line Items]
Loss contingency, estimate of possible loss		$ 89

Income Taxes (Details)

Income Taxes (Details) $ in Millions	Dec. 31, 2021USD ($)
Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits, potential decrease	$ 10
Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits, potential decrease	$ 60

Share-Based Compensation - Shar

Share-Based Compensation - Share-Based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Pre-tax effect of share-based compensation	$ 50.9	$ 51.2	$ 163.2	$ 143.3
Income tax benefit	10.8	10.7	34.6	30.5
Net income effect of share-based compensation	40.1	40.5	128.6	112.8
Inventory
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Capitalized share-based compensation expense	5.3	4.5	16.4	11.9
Share-based compensation expense previously capitalized	8.4	6.4	26.3	18.8
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Pre-tax effect of share-based compensation	8.4	6.4	26.3	18.8
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Pre-tax effect of share-based compensation	23.4	25	76.1	70
Selling, general and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Pre-tax effect of share-based compensation	$ 19.1	$ 19.8	$ 60.8	$ 54.5

Stock Repurchase Activity (Deta

Stock Repurchase Activity (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Nov. 30, 2021	Mar. 31, 2021
Equity [Abstract]
Stock repurchase program, authorized amount			$ 4,000,000,000
Repurchased shares under authorization (in shares)	2,000,000	2,000,000
Repurchased shares under authorization, value	$ 166,000,000	$ 166,000,000
Stock repurchase program, remaining authorized repurchase amount	$ 3,830,000,000	$ 3,830,000,000
Treasury stock (in shares)	20,768,248	20,768,248		21,900,970

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Changes in the Components of AOCI (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Changes in the components of AOCI
Beginning balance	$ 5,702.9	$ 5,519.9	$ 5,337.1	$ 5,443.7	$ 5,501.3	$ 5,585.5	$ 5,337.1	$ 5,585.5
Other comprehensive income (loss), net of tax effect	1.1	1.8	0	(1.4)	0.2	0.5	2.9	(0.7)
Ending balance	5,803.3	5,702.9	5,519.9	5,297	5,443.7	5,501.3	5,803.3	5,297
Total
Changes in the components of AOCI
Beginning balance	(24.4)	(26.2)	(26.2)	(20.9)	(21.1)	(21.6)	(26.2)	(21.6)
Other comprehensive income (loss) before reclassifications							1.1
Reclassification of realized transactions							1.8
Other comprehensive income (loss), net of tax effect	1.1	1.8	0	(1.4)	0.2	0.5	2.9
Ending balance	(23.3)	$ (24.4)	(26.2)	$ (22.3)	$ (20.9)	$ (21.1)	(23.3)	$ (22.3)
Minimum Pension Liability
Changes in the components of AOCI
Beginning balance			(13.4)				(13.4)
Other comprehensive income (loss) before reclassifications							2.8
Reclassification of realized transactions							1.8
Other comprehensive income (loss), net of tax effect							4.6
Ending balance	(8.8)						(8.8)
Foreign Currency
Changes in the components of AOCI
Beginning balance			$ (12.8)				(12.8)
Other comprehensive income (loss) before reclassifications							(1.7)
Reclassification of realized transactions							0
Other comprehensive income (loss), net of tax effect							(1.7)
Ending balance	$ (14.5)						$ (14.5)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Schedule of Reclassifications of Recognized Transactions out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (loss), net	$ 4.6	$ (0.4)	$ 3.5	$ (2.9)
Reclassification out of Accumulated Other Comprehensive Income | Amortization of actuarial loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income (loss), net	$ (0.6)	$ (0.3)	$ (1.8)	$ (0.9)

Dividends (Details)

Dividends (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 03, 2022	Dec. 03, 2021	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020
Dividends Payable [Line Items]
Cash dividend paid (in dollars per share)		$ 0.232
Cash dividend		$ 128.7	$ 128.7	$ 121.2	$ 113.1	$ 96	$ 95.3	$ 90.4
Dividends declared per common share (in dollars per share)			$ 0.2320			$ 0.1843			$ 0.6570	$ 0.5521
Forecast
Dividends Payable [Line Items]
Cash dividend	$ 141
Subsequent Event
Dividends Payable [Line Items]
Dividends declared per common share (in dollars per share)	$ 0.253