Take-Two Interactive Software (TTWO) 10-Q 3 Aug 17 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2017	Jul. 31, 2017
Document and Entity Information
Entity Registrant Name	TAKE TWO INTERACTIVE SOFTWARE INC
Entity Central Index Key	946,581
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		106,527,814
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 828,112	$ 943,396
Short-term investments	452,949	448,932
Restricted cash	406,336	337,818
Accounts receivable, net of allowances of $52,262 and $66,483 at June 30, 2017 and March 31, 2017, respectively	229,197	219,558
Inventory	11,636	16,323
Software development costs and licenses	20,181	41,721
Deferred cost of goods sold	79,902	127,901
Prepaid expenses and other	84,823	59,593
Total current assets	2,113,136	2,195,242
Fixed assets, net	76,613	67,300
Software development costs and licenses, net of current portion	462,877	381,910
Deferred cost of goods sold, net of current portion	17,021	0
Goodwill	369,622	359,115
Other intangibles, net	133,330	110,262
Other assets	46,971	35,325
Total assets	3,219,570	3,149,154
Current liabilities:
Accounts payable	36,934	31,892
Accrued expenses and other current liabilities	809,685	750,875
Deferred revenue	619,439	903,125
Total current liabilities	1,466,058	1,685,892
Long-term debt	212,864	251,929
Non-current deferred revenue	231,526	10,406
Other long-term liabilities	209,367	197,199
Total liabilities	2,119,815	2,145,426
Commitments and Contingencies (See Note 12)
Stockholders' equity:
Preferred stock, $.01 par value, 5,000 shares authorized; no shares issued and outstanding at June 30, 2017 and March 31, 2017	0	0
Common stock, $.01 par value, 200,000 shares authorized; 123,027 and 119,813 shares issued and 105,835 and 102,621 outstanding at June 30, 2017 and March 31, 2017, respectively	1,230	1,198
Additional paid-in capital	1,479,143	1,452,754
Treasury stock, at cost; 17,192 common shares at June 30, 2017 and March 31, 2017	(303,388)	(303,388)
Accumulated deficit	(39,648)	(99,694)
Accumulated other comprehensive loss	(37,582)	(47,142)
Total stockholders' equity	1,099,755	1,003,728
Total stockholders' equity	$ 3,219,570	$ 3,149,154

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowances (in dollars)	$ 52,262	$ 66,483
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	123,027,000	119,813,000
Common stock, shares outstanding	105,835,000	102,621,000
Treasury stock, shares	17,192,000	17,192,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Income Statement [Abstract]
Net revenue	$ 418,216	$ 311,552
Cost of goods sold	194,569	191,380
Gross profit	223,647	120,172
General and administrative	60,603	46,743
Selling and marketing	52,214	71,134
Research and development	42,269	33,900
Business reorganization	10,599	0
Depreciation and amortization	7,743	7,378
Total operating expenses	173,428	159,155
Income (loss) from operations	50,219	(38,983)
Interest and other, net	(2,808)	(4,506)
Gain on long-term investments, net	0	1,350
Income (loss) before income taxes	47,411	(42,139)
Benefit from income taxes	12,865	3,572
Net income (loss)	$ 60,276	$ (38,567)
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)	$ 0.57	$ (0.46)
Diluted earnings (loss) per share (in dollars per share)	$ 0.56	$ (0.46)

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 60,276	$ (38,567)
Other comprehensive income (loss):
Foreign currency translation adjustment	9,476	(3,633)
Unrealized gain, net on available-for-sale securities, net of taxes	84	206
Reclassification to earnings for realized gains, net on available for sale securities, net of taxes	0	4
Change in fair value of available for sale securities	84	210
Other comprehensive income (loss)	9,560	(3,423)
Comprehensive income (loss)	$ 69,836	$ (41,990)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Operating activities:
Net income (loss)	$ 60,276	$ (38,567)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Amortization and impairment of software development costs and licenses	18,206	41,034
Depreciation and amortization	7,743	7,378
Amortization and impairment of intellectual property	8,181	0
Stock-based compensation	24,071	15,100
Amortization of discount on Convertible Notes	5,237	6,098
Gain on conversions of Convertible Notes	(1,103)	0
Amortization of debt issuance costs	188	381
Other, net	(9,669)	(3,171)
Changes in assets and liabilities:
Restricted cash	(68,518)	(57,335)
Accounts receivable	(9,294)	28,226
Inventory	5,451	2,696
Software development costs and licenses	(71,829)	(62,392)
Prepaid expenses and other assets	(23,199)	(3,867)
Deferred revenue	(67,883)	(36,446)
Deferred cost of goods sold	32,233	17,223
Accounts payable, accrued expenses and other liabilities	71,281	36,394
Net cash used in operating activities	(18,628)	(47,248)
Investing activities:
Change in bank time deposits	(24,999)	78,691
Proceeds from available-for-sale securities	45,705	29,795
Purchases of available-for-sale securities	(33,159)	(30,836)
Purchases of commercial paper	(7,989)	0
Proceeds from commercial paper	16,500	0
Purchases of fixed assets	(16,092)	(4,230)
Asset acquisition	(25,381)	0
Payments for (Proceeds from) Investments	0	(1,350)
Proceeds from sale of long-term investment	0	(1,885)
Net cash (used in) provided by investing activities	(45,415)	72,885
Financing activities:
Excess tax benefit from stock-based compensation	0	887
Tax payment related to net share settlements on restricted stock awards	(57,689)	(25,166)
Net cash used in financing activities	(57,689)	(24,279)
Effects of foreign currency exchange rates on cash and cash equivalents	6,448	(3,772)
Net change in cash and cash equivalents	(115,284)	(2,414)
Cash and cash equivalents, beginning of year	943,396	798,742
Cash and cash equivalents, end of period	$ 828,112	$ 796,328

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Take-Two Interactive Software, Inc. (the "Company," "we," "us," or similar pronouns) was incorporated in the state of Delaware in 1993. We are a leading developer, publisher and marketer of interactive entertainment for consumers around the globe. We develop and publish products principally through our two wholly-owned labels Rockstar Games and 2K. Our products are designed for console systems and personal computers, including smart phones and tablets, and are delivered through physical retail, digital download, online platforms and cloud streaming services. Basis of Presentation The accompanying Condensed Consolidated Financial Statements are unaudited and include the accounts of the Company and its wholly-owned subsidiaries and, in the opinion of management, reflect all normal and recurring adjustments necessary for the fair presentation of our financial position, results of operations and cash flows. Interim results may not be indicative of the results that may be expected for the full fiscal year. All inter-company accounts and transactions have been eliminated in consolidation. The preparation of these Condensed Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under generally accepted accounting principles in the United States, interim accounting for certain expenses, including income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although we believe that the disclosures are adequate to make the information presented not misleading. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with our annual consolidated financial statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2017 . Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation. Revenue Recognition As part of our on-going assessment of estimated service periods, during the three months ended June 30, 2017, we extended Grand Theft Auto V's estimated service period from 41 to 50 months. The change in estimate resulted in a decrease in net revenues of $25,683 and income from operations of $23,731 for the three months ended June 30, 2017 . We expect this change in estimated service period to have a material impact on our Consolidated Financial Statements for fiscal 2018. Recently Adopted Accounting Pronouncements Accounting for Stock Compensation In March 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2016-09, Compensation—Stock Compensation . This new guidance identifies areas for simplification involving several aspects of accounting for share-based payment transactions, including income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation expense with actual forfeitures recognized as they occur, as well as certain classifications on the statement of cash flows. We adopted this update effective April 1, 2017. Upon adoption, using the modified retrospective transition method, we recognized previously unrecognized excess tax benefits as a deferred tax asset, which was fully offset by a valuation allowance, resulting in no net impact to retained earnings. Without the valuation allowance, our deferred tax asset would have increased by $24,594 . We elected to apply the change in presentation of excess tax benefits as an operating activity in the statement of cash flow prospectively and thus no prior periods were adjusted. We also elected to account for forfeitures as they occur using the modified retrospective transition method, which resulted in a cumulative effect adjustment of $323 to retained earnings (an increase in the accumulated deficit). The other aspects of the new guidance did not have a material effect on the Company’s consolidated financial statements. Accounting for Acquisitions or Disposals In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2017-01, Clarifying the Definition of a Business , with the objective of providing additional guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this update provide new guidance to determine when an integrated set of assets and activities (collectively referred to as a “set”) is not a business. The new guidance requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. The new guidance is expected to reduce the number of transactions that need to be further evaluated. The new standard, as amended, will be effective prospectively for interim and annual reporting periods beginning on January 1, 2018 (April 1, 2018 for the Company), with early adoption permitted. We adopted this update as of April 1, 2017 and relied on the clarified definition to account for our acquisition of intellectual property related to Kerbal Space Program as an asset acquisition. Recently Issued Accounting Pronouncements Accounting for Goodwill In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) . This ASU eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, this ASU eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. The amendments in this ASU are effective for fiscal years beginning after December 15, 2019 (April 1, 2020 for the Company), including interim periods within those fiscal years, and is applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. While we are currently evaluating the impact of the adoption of this ASU, we do not believe that the adoption of this guidance will have a material impact on our consolidated financial statements. Accounting for Restricted Cash In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . This ASU amends the presentation of restricted cash within the statement of cash flows. The new guidance requires that changes in restricted cash and cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts on the statement of cash flows. This standard will be effective for fiscal years beginning after December 15, 2017 (April 1, 2018 for the Company), including interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of the adoption of this ASU. Accounting for Leases In February 2016, the FASB issued ASU 2016-02, Leases . This new guidance requires lessees to recognize a right-of-use asset and a lease liability for virtually all leases (other than leases that meet the definition of a short-term lease). The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustment, such as for initial direct costs. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current operating leases) while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Classification will be based on criteria that are largely similar to those applied in current lease accounting. This update is effective for annual periods, and interim periods within those years, beginning after December 15, 2018 (April 1, 2019 for the Company). This new guidance must be adopted using a modified retrospective approach whereby lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. Early adoption is permitted. We are currently evaluating the impact of adopting this update on our Consolidated Financial Statements, which will consist primarily of a balance sheet gross up of our operating leases, mostly for office space. Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . Under the new standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration, which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB recently issued several amendments to the standard, including clarifications on disclosure of prior-period performance obligations and remaining performance obligations. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The new standard is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017 (April 1, 2018 for the Company), with early adoption permitted for annual reporting periods beginning after December 15, 2016 (April 1, 2017 for the Company). The Company will adopt the new standard effective April 1, 2018 using the cumulative catch-up transition method. We anticipate this standard will have a material impact on our Consolidated Financial Statements. While we are continuing to assess all potential impacts of the standard, we currently believe the most significant impact relates to our accounting for on-line enabled games that benefit from meaningful post-contract customer support ("PCS") such as unspecified content updates for which we do not have vendor specific objective evidence of fair value ("VSOE"). Under the current accounting standards, for titles that do not have VSOE, we recognize the entire sales price ratably over the title's estimated service period. The VSOE requirement will be eliminated under the new standard. Accordingly, we may be required to recognize as revenue a portion of the sales price upon delivery of the software, as compared to the current requirement of recognizing the entire sales price ratably over an estimated offering period. It is possible that our evaluation of the expected impact of the new standard on certain transactions could change if there are additional interpretations of the new revenue guidance that are different from our preliminary conclusions.

MANAGEMENT AGREEMENT

MANAGEMENT AGREEMENT	3 Months Ended
	Jun. 30, 2017
MANAGEMENT AGREEMENT
MANAGEMENT AGREEMENT	MANAGEMENT AGREEMENT In May 2011, we entered into an amended management services agreement, (the "2011 Management Agreement") with ZelnickMedia Corporation ("ZelnickMedia") pursuant to which ZelnickMedia provided us with certain management, consulting and executive level services. In March 2014, we entered into a new management agreement, (the "2014 Management Agreement"), with ZelnickMedia pursuant to which ZelnickMedia continues to provide financial and management consulting services to the Company through March 31, 2019. The 2014 Management Agreement became effective April 1, 2014 and supersedes and replaces the 2011 Management Agreement, except as otherwise contemplated by the 2014 Management Agreement. As part of the 2014 Management Agreement, Strauss Zelnick, the President of ZelnickMedia, continues to serve as Executive Chairman and Chief Executive Officer, and Karl Slatoff, a partner of ZelnickMedia, continues to serve as President of the Company. The 2014 Management Agreement provides for an annual management fee of $2,970 over the term of the agreement and a maximum annual bonus opportunity of $4,752 over the term of the agreement, based on the Company achieving certain performance thresholds. In consideration for ZelnickMedia's services, we recorded consulting expense (a component of general and administrative expenses) of $1,337 during each of the three months ended June 30, 2017 and 2016 . We recorded stock-based compensation expense for non-employee restricted stock units granted to ZelnickMedia, which is included in general and administrative expenses of $6,014 and $3,889 during the three months ended June 30, 2017 and 2016 respectively. In connection with the 2014 Management Agreement, we granted restricted stock units as follows: Three Months Ended June 30, 2017 2016 Time-based 66,122 107,551 Market-based(1) 122,370 199,038 Performance-based(1) New IP 20,396 33,174 Major IP 20,394 33,172 Total—Performance-based 40,790 66,346 Total Restricted Stock Units 229,282 372,935 _______________________________________________________________________________ (1) Represents the maximum number of shares eligible to vest. Time-based restricted stock units granted in 2017 will vest on April 4, 2019, and those granted in 2016 will vest on April 1, 2018, in each case provided that the 2014 Management Agreement has not been terminated prior to such vesting date. Market-based restricted stock units granted in 2017 are eligible to vest on April 4, 2019, and those granted in 2016 are eligible to vest on April 1, 2018, in each case provided that the 2014 Management Agreement has not been terminated prior to such vesting date. Market-based restricted stock units are eligible to vest based on the Company's Total Shareholder Return (as defined in the relevant grant agreement) relative to the Total Shareholder Return (as defined in the relevant grant agreement) of the companies that constitute the NASDAQ Composite Index as of the grant date measured over a two -year period. To earn the target number of market-based restricted stock units (which represents 50% of the number of the market-based restricted stock units set forth in the table above), the Company must perform at the 50th percentile, with the maximum number of market-based restricted stock units earned if the Company performs at the 75th percentile. Each reporting period we re-measure the fair value of the unvested shares of market-based restricted stock units granted to ZelnickMedia. Performance-based restricted stock units granted in 2017 are eligible to vest on April 4, 2019, and those granted in 2016 are eligible to vest on April 1, 2018, in each case provided that the 2014 Management Agreement has not been terminated prior to such vesting date. Performance-based restricted stock units, of which 50% are tied to "New IP" and 50% to "Major IP" (as defined in the relevant grant agreement), are eligible to vest based on the Company's achievement of certain performance metrics (as defined in the relevant grant agreement) of individual product releases of "New IP" or "Major IP" measured over a two -year period. The target number of performance-based restricted stock units that may be earned pursuant to these grants is equal to 50% of the grant amounts set forth in the above table (the numbers in the table represent the maximum number of performance-based restricted stock units that may be earned). Each reporting period we assess the performance metric and upon achievement of certain thresholds record an expense for the unvested portion of the shares of performance-based restricted stock units. Certain performance metrics, based on unit sales, have been achieved as of June 30, 2017 for the "Major IP" performance-based restricted stock units granted in 2017 and 2016 . The unvested portion of time-based, market-based and performance-based restricted stock units held by ZelnickMedia were 602,217 and 898,526 as of June 30, 2017 and March 31, 2017 , respectively. In addition to the restricted stock units granted to ZelnickMedia, 478,839 restricted stock units vested and 46,752 restricted stock units were forfeited during the three months ended June 30, 2017 .

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The carrying amounts of our financial instruments, including cash and cash equivalents, restricted cash, accounts receivable, accounts payable and accrued expenses and other current liabilities, approximate fair value because of their short maturities. We follow a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of "observable inputs" and minimize the use of "unobservable inputs." The three levels of inputs used to measure fair value are as follows: • Level 1—Quoted prices in active markets for identical assets or liabilities. • Level 2—Observable inputs other than quoted prices included in Level 1, such as quoted prices for markets that are not active or other inputs that are observable or can be corroborated by observable market data. • Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The table below segregates all assets and liabilities that are measured at fair value on a recurring basis (which is measured at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. June 30, 2017 Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Balance Sheet Classification Money market funds $ 522,035 $ 522,035 $ — $ — Cash and cash equivalents Bank-time deposits 35,368 35,368 — — Cash and cash equivalents Commercial paper 7,692 — 7,692 — Cash and cash equivalents Corporate bonds 230,015 — 230,015 — Short-term investments Bank-time deposits 200,945 200,945 — — Short-term investments Commercial paper 17,519 — 17,519 — Short-term investments Mutual funds 4,470 — 4,470 — Short-term investments Foreign currency forward contracts 17 — 17 — Prepaid expenses and other Foreign currency forward contracts (7,345 ) — (7,345 ) — Accrued and other current liabilities Private equity 720 — — 720 Other assets Contingent consideration 6,808 — — 6,808 Other long-term liabilities Total recurring fair value measurements, net $ 1,018,244 $ 758,348 $ 252,368 $ 7,528 March 31, 2017 Quoted prices Significant Significant Balance Sheet Classification Money market funds $ 646,386 $ 646,386 $ — $ — Cash and cash equivalents Bank-time deposits 46,605 46,605 — — Cash and cash equivalents Commercial paper 38,268 — 38,268 — Cash and cash equivalents Corporate bonds 243,019 — 243,019 — Short-term investments Bank-time deposits 175,745 175,745 — — Short-term investments Commercial paper 25,936 — 25,936 — Short-term investments Mutual funds 4,232 — 4,232 — Short-term investments Foreign currency forward contracts 2 — 2 — Prepaid expenses and other Foreign currency forward contracts (352 ) — (352 ) — Accrued and other current liabilities Private equity 570 — — 570 Other assets Contingent consideration 6,465 — — 6,465 Other long-term liabilities Total recurring fair value measurements, net $ 1,186,876 $ 868,736 $ 311,105 $ 7,035 The fair value of contingent consideration was estimated using a Monte-Carlo simulation model, which included significant unobservable Level 3 inputs, such as projected financial performance over the earn-out period along with estimates for market volatility and the discount rate applicable to potential cash payouts. We did not have any transfers between Level 1 and Level 2 fair value measurements, nor did we have any transfers into or out of Level 3 during the three months ended June 30, 2017 . Debt As of June 30, 2017 , the estimated fair value of our 1.00% Convertible Notes due 2018 (the " 1.00% Convertible Notes") was $762,348 . The fair value was determined using Level 2 inputs, observable market data, for the 1.00% Convertible Notes and their embedded option feature. See Note 9 for additional information regarding our 1.00% Convertible Notes.

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	3 Months Ended
	Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]
SHORT-TERM INVESTMENTS	SHORT-TERM INVESTMENTS Our short-term investments consisted of the following: June 30, 2017 Gross Cost or Gains Losses Fair Value Short-term investments Bank time deposits $ 200,945 $ — $ — $ 200,945 Available-for-sale securities: Corporate bonds 230,070 110 (165 ) 230,015 Commercial paper 17,517 2 — 17,519 Mutual funds 4,337 147 (14 ) 4,470 Total short-term investments $ 452,869 $ 259 $ (179 ) $ 452,949 March 31, 2017 Gross Cost or Gains Losses Fair Value Short-term investments Bank time deposits $ 175,745 $ — $ — $ 175,745 Available-for-sale securities: Corporate bonds 243,140 98 (219 ) 243,019 Commercial paper 25,938 5 (7 ) 25,936 Mutual funds 4,118 123 (9 ) 4,232 Total short-term investments $ 448,941 $ 226 $ (235 ) $ 448,932 We consider various factors in the review of investments with an unrealized loss, including the credit quality of the issuer, the duration that the fair value has been less than the adjusted cost basis, the severity of the impairment, the reason for the decline in value and our intent to sell and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in market value. Based on our review, we did not consider these investments to be other-than-temporarily impaired as of June 30, 2017 or March 31, 2017 . The following table summarizes the contracted maturities of our short-term investments at June 30, 2017 : June 30, 2017 Amortized Fair Short-term investments Due in 1 year or less $ 358,780 $ 358,881 Due in 1 - 2 years 94,085 94,068 Total short-term investments $ 452,865 $ 452,949

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES Our risk management strategy includes the use of derivative financial instruments to reduce the volatility of earnings and cash flows associated with changes in foreign currency exchange rates. We do not enter into derivative financial contracts for speculative or trading purposes. We recognize derivative instruments as either assets or liabilities on our Condensed Consolidated Balance Sheets, and we measure those instruments at fair value. We classify cash flows from derivative transactions as cash flows from operating activities in our Condensed Consolidated Statements of Cash Flows. The following table shows the gross notional amounts of foreign currency forward contracts: June 30, 2017 March 31, 2017 Forward contracts to sell foreign currencies $ 180,714 $ 177,549 Forward contracts to purchase foreign currencies 7,757 9,170 For the three months ended June 30, 2017 and 2016 , we recorded a loss of $8,603 and a gain of $798 , respectively, related to foreign currency forward contracts in interest and other, net in our Condensed Consolidated Statements of Operations. Our derivative contracts are foreign currency exchange forward contracts that are not designated as hedging instruments under hedge accounting and are used to reduce the impact of foreign currency on certain balance sheet exposures and certain revenue and expense. These instruments are generally short term in nature, with typical maturities of less than one year, and are subject to fluctuations in foreign exchange rates.

INVENTORY

INVENTORY	3 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory balances by category are as follows: June 30, 2017 March 31, 2017 Finished products $ 10,819 $ 15,530 Parts and supplies 817 793 Inventory $ 11,636 $ 16,323 Estimated product returns included in inventory at June 30, 2017 and March 31, 2017 were $401 and $529 , respectively.

SOFTWARE DEVELOPMENT COSTS AND

SOFTWARE DEVELOPMENT COSTS AND LICENSES	3 Months Ended
	Jun. 30, 2017
SOFTWARE DEVELOPMENT COSTS AND LICENSES
SOFTWARE DEVELOPMENT COSTS AND LICENSES	SOFTWARE DEVELOPMENT COSTS AND LICENSES Details of our capitalized software development costs and licenses are as follows: June 30, 2017 March 31, 2017 Current Non-current Current Non-current Software development costs, internally developed $ 13,716 $ 377,790 $ 28,959 $ 310,229 Software development costs, externally developed 1,601 83,556 5,455 71,407 Licenses 4,864 1,531 7,307 274 Software development costs and licenses $ 20,181 $ 462,877 $ 41,721 $ 381,910 During the three months ended June 30, 2017 and 2016 , we recorded $684 and $9,068 , respectively, of software development impairment charges (a component of cost of goods sold).

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	3 Months Ended
	Jun. 30, 2017
Liabilities, Current [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consist of the following: June 30, 2017 March 31, 2017 Software development royalties $ 551,646 $ 492,133 Business reorganization 70,959 65,935 Compensation and benefits 41,837 44,843 Licenses 33,190 37,019 Deferred acquisition payments 25,000 25,000 Marketing and promotions 21,978 21,030 Other 65,075 64,915 Accrued expenses and other current liabilities $ 809,685 $ 750,875

DEBT

DEBT	3 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
DEBT	DEBT Credit Agreement In April 2016, we entered into a Sixth Amendment to our Second Amended and Restated Credit Agreement (as amended, the "Credit Agreement"). The Credit Agreement provides for borrowings of up to $100,000 which may be increased by up to $100,000 pursuant to the terms of the Credit Agreement and which is secured by substantially all of our assets and the equity of our subsidiaries. The Credit Agreement expires on August 18, 2019. Revolving loans under the Credit Agreement bear interest at our election of (a) 0.25% to 0.75% above a certain base rate ( 4.25% at June 30, 2017 ) or (b) 1.25% to 1.75% above the LIBOR Rate (approximately 2.48% at June 30, 2017 ), with the margin rate subject to the achievement of certain average liquidity levels. We are also required to pay a monthly fee on the unused available balance, ranging from 0.25% to 0.375% based on availability. We had no outstanding borrowings at June 30, 2017 and March 31, 2017 . Availability under the Credit Agreement is unrestricted when liquidity, as defined in the Credit Agreement, is at least $300,000 . When liquidity is below $300,000 availability under the Credit Agreement is restricted by our United States and United Kingdom based accounts receivable and inventory balances. The Credit Agreement also allows for the issuance of letters of credit in an aggregate amount of up to $5,000 . Information related to availability on our Credit Agreement is as follows: June 30, 2017 March 31, 2017 Available borrowings $ 98,336 $ 98,320 Outstanding letters of credit 1,664 1,664 We recorded interest expense and fees related to the Credit Agreement of $110 for the three months ended June 30, 2017 and 2016 . The Credit Agreement contains covenants that substantially limit us and our subsidiaries' ability to create, incur, assume or be liable for indebtedness; dispose of assets outside the ordinary course of business; acquire, merge or consolidate with or into another person or entity; create, incur or allow any lien on any of their respective properties; make investments; or pay dividends or make distributions (each subject to certain limitations); or optionally prepay any indebtedness (subject to certain exceptions, including an exception permitting the redemption of our unsecured convertible senior notes upon the meeting of certain minimum liquidity requirements). In addition, the Credit Agreement provides for certain events of default such as nonpayment of principal and interest, breaches of representations and warranties, noncompliance with covenants, acts of insolvency, default on indebtedness held by third parties and default on certain material contracts (subject to certain limitations and cure periods). The Credit Agreement also contains a requirement that we maintain an interest coverage ratio of more than one to one for the trailing twelve -month period, if certain average liquidity levels fall below $30,000 . 1.00% Convertible Notes Due 2018 On June 18, 2013, we issued $250,000 aggregate principal amount of 1.00% Convertible Notes due 2018. The 1.00% Convertible Notes were issued at 98.5% of par value for proceeds of $246,250 . Interest on the 1.00% Convertible Notes is payable semi-annually in arrears on July 1st and January 1st of each year, commencing on January 1, 2014. The 1.00% Convertible Notes mature on July 1, 2018, unless earlier repurchased by the Company or converted. We do not have the right to redeem the 1.00% Convertible Notes prior to maturity. We also granted the underwriters a 30 -day option to purchase up to an additional $37,500 principal amount of 1.00% Convertible Notes to cover overallotments, if any. On July 17, 2013, we closed our public offering of $37,500 principal amount of our 1.00% Convertible Notes as a result of the underwriters exercising their overallotment option in full on July 12, 2013, bringing the total proceeds to $283,188 . The 1.00% Convertible Notes are convertible at an initial conversion rate of 46.4727 shares of our common stock per $1 principal amount of 1.00% Convertible Notes (representing an initial conversion price of approximately $21.52 per share of common stock for a total of approximately 13,361,000 underlying conversion shares) subject to adjustment in certain circumstances. Holders may convert the 1.00% Convertible Notes at their option prior to the close of business on the business day immediately preceding January 1, 2018 only under the following circumstances: (1) during any fiscal quarter commencing after September 30, 2013, if the last reported sale price of the common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the preceding fiscal quarter is greater than or equal to 130% of the applicable conversion price on each applicable trading day; (2) during the five business day period after any 10 consecutive trading day period (the "measurement period") in which the trading price per $1 principal amount of 1.00% Convertible Notes for each day of that measurement period was less than 98% of the product of the last reported sale price of our common stock and the applicable conversion rate on each such day; or (3) upon the occurrence of specified corporate events. On and after January 1, 2018 until the close of business on the business day immediately preceding the maturity date, holders may convert their 1.00% Convertible Notes at any time, regardless of the foregoing circumstances. Upon conversion, the 1.00% Convertible Notes may be settled, at our election, in cash, shares of our common stock, or a combination of cash and shares of our common stock. Our common stock price exceeded 130% of the applicable conversion price per share for at least 20 trading days during the 30 consecutive trading days ended June 30, 2017 . Accordingly, as of July 1, 2017, the 1.00% Convertible Notes may be converted at the holder's option through September 30, 2017. During the three months ended June 30, 2017 , 1.00% Convertible Notes with an aggregate principal amount of $44,369 were settled, which we elected to settle in shares of our common stock. Our intent and ability, given our option, would be to settle future conversions in shares of our common stock. As such, we have continued to classify these 1.00% Convertible Notes as long-term debt. Upon the occurrence of certain fundamental changes involving the Company, holders of the 1.00% Convertible Notes may require us to purchase all or a portion of their 1.00% Convertible Notes for cash at a price equal to 100% of the principal amount of the notes to be purchased, plus accrued and unpaid interest (including additional interest, if any) to, but excluding, the fundamental change purchase date. The indenture governing the 1.00% Convertible Notes contains customary terms and covenants and events of default. If an event of default (as defined therein) occurs and is continuing, the Trustee by notice to the Company, or the holders of at least 25% in aggregate principal amount of the 1.00% Convertible Notes then outstanding by notice to the Company and the Trustee, may, and the Trustee at the request of such holders shall, declare 100% of the principal of and accrued and unpaid interest (including additional interest, if any) on all the 1.00% Convertible Notes to be due and payable. In the case of an event of default arising out of certain bankruptcy events, 100% of the principal of and accrued and unpaid interest (including additional interest, if any), on the 1.00% Convertible Notes will automatically become due and payable immediately. The 1.00% Convertible Notes are senior unsecured obligations and rank senior in right of payment to our existing and future indebtedness that is expressly subordinated in right of payment to the 1.00% Convertible Notes; equal in right of payment to our existing and future indebtedness that is not so subordinated; effectively junior in right of payment to any of our secured indebtedness to the extent of the value of the assets securing such indebtedness; and structurally junior to all existing and future indebtedness incurred by our subsidiaries. We separately account for the liability and equity components of the 1.00% Convertible Notes in a manner that reflects our nonconvertible debt borrowing rate. We estimated the fair value of the 1.00% Convertible Notes to be $225,567 upon issuance of our 1.00% Convertible Notes, assuming a 6.15% non-convertible borrowing rate. The carrying amount of the equity component was determined to be approximately $57,621 by deducting the fair value of the liability component from the net proceeds of the 1.00% Convertible Notes. The excess of the principal amount of the liability component over its carrying amount is amortized to interest and other, net over the term of the 1.00% Convertible Notes using the effective interest method. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. In accounting for the $2,815 of banking, legal and accounting fees related to the issuance of the 1.00% Convertible Notes, we allocated $2,209 to the liability component and $606 to the equity component. Debt issuance costs attributable to the liability component are being amortized to interest and other, net over the term of the 1.00% Convertible Notes, and issuance costs attributable to the equity component were netted with the equity component in additional paid-in capital. As of June 30, 2017 and March 31, 2017 , the if-converted value of our 1.00% Convertible Notes exceeded the principal amount of $223,687 and $268,149 , respectively by $538,661 and $470,456 , respectively. The following table provides additional information related to our 1.00% Convertible Notes: June 30, 2017 March 31, 2017 Additional paid-in capital $ 35,784 $ 35,784 Principal amount of 1.00% Convertible Notes $ 223,687 $ 268,149 Unamortized discount of the liability component 10,514 15,751 Carrying amount of debt issuance costs 309 469 Net carrying amount of 1.00% Convertible Notes $ 212,864 $ 251,929 The following table provides the components of interest expense related to our 1.00% Convertible Notes: Three Months Ended June 30, 2017 2016 Cash interest expense (coupon interest expense) $ 448 $ 719 Non-cash amortization of discount on 1.00% Convertible Notes 5,237 3,135 Amortization of debt issuance costs 160 107 Total interest expense related to 1.00% Convertible Notes $ 5,845 $ 3,961

EARNINGS (LOSS) PER SHARE ("EPS

EARNINGS (LOSS) PER SHARE ("EPS")	3 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE (EPS)	(LOSS) PER SHARE ("EPS") The following table sets forth the computation of basic and diluted earnings (loss) per share (shares in thousands): Three Months Ended June 30, 2017 2016 Computation of Basic earnings (loss) per share: Net income (loss) $ 60,276 $ (38,567 ) Less: net income allocated to participating securities $ (588 ) — Net income (loss) for basic earnings (loss) per share calculation $ 59,688 $ (38,567 ) Total weighted average shares outstanding—basic 105,494 84,588 Less: weighted average participating shares outstanding (1,029 ) — Weighted average common shares outstanding—basic 104,465 84,588 Basic earnings (loss) per share $ 0.57 $ (0.46 ) Computation of Diluted earnings (loss) per share: Net income (loss) $ 60,276 $ (38,567 ) Less: net income allocated to participating securities $ (522 ) — Add: interest expense, net of tax, on Convertible Notes $ 5,750 — Net income (loss) for diluted earnings (loss) per share calculation $ 65,504 $ (38,567 ) Weighted average common shares outstanding—basic 105,494 84,588 Add: dilutive effect of common stock equivalents 13,288 — Weighted average common shares outstanding—diluted 118,782 84,588 Less: weighted average participating shares outstanding (1,029 ) — Weighted average common shares outstanding- diluted 117,753 84,588 Diluted earnings (loss) per share $ 0.56 $ (0.46 ) Certain of our unvested restricted stock awards (including restricted stock units and time-based and market-based restricted stock awards) are considered participating securities since these securities have non-forfeitable rights to dividends or dividend equivalents during the contractual period of the award, and thus require the two-class method of computing EPS. The calculation of EPS for common stock under the two-class method shown above for the three months ended June 30, 2017 excludes income attributable to the participating securities from the numerator and excludes the dilutive effect of those awards from the denominator. We incurred a net loss for the three months ended June 30, 2016 ; therefore, the basic and diluted weighted average shares outstanding exclude the effect of the unvested share-based awards that are considered participating securities and all common stock equivalents because their effect would be antidilutive. For the three months ended June 30, 2016 , we had 5,428 of unvested share-based awards that are excluded from the EPS calculation due to the net loss for those periods. We define common stock equivalents as restricted stock awards and common stock related to the Convertible Notes (see Note 9) outstanding during the period. Common stock equivalents are measured using the treasury stock method, except for the Convertible Notes, which are assessed for their effect on diluted EPS using the more dilutive of the treasury stock method or the if-converted method. Under the provisions of the if-converted method, the Convertible Notes are assumed to be converted and included in the denominator of the EPS calculation and the interest expense, net of tax, recorded in connection with the Convertible Notes is added back to the numerator. During the three months ended June 30, 2017 , 1,868 restricted stock awards vested, and we issued 443 of unvested restricted stock awards and canceled 3 of unvested restricted stock awards.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Jun. 30, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table provides the components of accumulated other comprehensive loss: Three Months Ended June 30, 2017 Foreign Unrealized Unrealized Total Balance at March 31, 2017 $ (47,666 ) $ 600 $ (76 ) $ (47,142 ) Other comprehensive income before reclassifications 9,476 — 84 9,560 Amounts reclassified from accumulated other comprehensive loss — — — — Balance at June 30, 2017 $ (38,190 ) $ 600 $ 8 $ (37,582 ) Three Months Ended June 30, 2016 Foreign Unrealized Unrealized Total Balance at March 31, 2016 $ (38,580 ) $ 600 $ 84 $ (37,896 ) Other comprehensive income (loss) before reclassifications (3,633 ) — 206 (3,427 ) Amounts reclassified from accumulated other comprehensive loss — — 4 4 Balance at June 30, 2016 $ (42,213 ) $ 600 $ 294 $ (41,319 )

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES We have entered into various agreements in the ordinary course of business that require substantial cash commitments over the next several years. Other than agreements entered into in the ordinary course of business and in addition to the agreements requiring known cash commitments as reported in Part II, Item 7 of our Annual Report on Form 10-K for the fiscal year ended March 31, 2017 , we did not have any significant changes to our commitments since March 31, 2017 . Legal and Other Proceedings We are, or may become, subject to demands and claims (including intellectual property claims) and are involved in routine litigation in the ordinary course of business which we do not believe to be material to our business or financial statements. We have appropriately accrued amounts related to certain of these claims and legal and other proceedings. While it is reasonably possible that a loss may be incurred in excess of the amounts accrued in our financial statements, we believe that such losses, unless otherwise disclosed, would not be material. On April 11, 2016, we filed a declaratory judgment action in the United States District Court for the Southern District of New York seeking, among other things, a judicial declaration that Leslie Benzies, the former president of one of our subsidiaries with whom we had been in ongoing discussions regarding his separation of employment, is not entitled to any minimum allocation or financial parity with any other person under the applicable royalty plan. We believe we will prevail in this matter, although there can be no assurance of the outcome. On April 12, 2016, Mr. Benzies filed a complaint in the Supreme Court of the State of New York, New York County against us, and certain of our subsidiaries and employees. We removed this case to the United States District Court for the Southern District of New York, but the case was subsequently remanded to state court. The complaint claims damages of at least $150,000 and contains allegations of breach of fiduciary duty; fraudulent inducement and fraudulent concealment; aiding and abetting breach of fiduciary duty; breach of various contracts; breach of implied duty of good faith and fair dealing; tortious interference with contract; unjust enrichment; reformation; constructive trust; declaration of rights; constructive discharge; defamation and fraud. Motion practice in both the federal and state actions is ongoing. While we believe that we have meritorious defenses to these claims, and we intend to vigorously defend against them and to pursue any counterclaims, we have accrued what we believe to be an adequate amount for this matter, which amounts are classified as Business reorganization within Accrued expenses and other current liabilities in our Condensed Consolidated Balance Sheet (see Note 8). We do not believe that the ultimate outcome of such litigation, even if in excess of our current accrual, will have a material adverse effect on our business, financial condition or results of operations.

BUSINESS REORGANIZATION

BUSINESS REORGANIZATION	3 Months Ended
	Jun. 30, 2017
Restructuring and Related Activities [Abstract]
BUSINESS REORGANIZATION	BUSINESS REORGANIZATION Fiscal 2018 Plan In the first quarter of fiscal 2018, we announced and initiated actions to implement a strategic reorganization at one of our labels (the "2018 Plan"). In connection with this initiative, we incurred business reorganization expenses of $10,599 due primarily to employee separation costs. Through June 30, 2017 , we paid $2,378 related to these reorganization activities. As of June 30, 2017 , $5,024 remained accrued for in accrued expenses and other current liabilities and $3,197 in other non-current liabilities. Although we may record additional expense or benefit in future periods to true-up estimates, we do not expect to incur additional reorganization costs in connection with the 2018 Plan. Fiscal 2016 Plan As of both June 30, 2017 , and March 31, 2017 , $65,935 remained accrued for in accrued expenses and other current liabilities for employee separation costs in connection with reorganizing one development studio and closing two development studios. See Note 12 for additional information.

BASIS OF PRESENTATION AND SIG20

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying Condensed Consolidated Financial Statements are unaudited and include the accounts of the Company and its wholly-owned subsidiaries and, in the opinion of management, reflect all normal and recurring adjustments necessary for the fair presentation of our financial position, results of operations and cash flows. Interim results may not be indicative of the results that may be expected for the full fiscal year. All inter-company accounts and transactions have been eliminated in consolidation. The preparation of these Condensed Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under generally accepted accounting principles in the United States, interim accounting for certain expenses, including income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission, although we believe that the disclosures are adequate to make the information presented not misleading. These Condensed Consolidated Financial Statements and accompanying notes should be read in conjunction with our annual consolidated financial statements and the notes thereto, included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2017 . Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation.
Revenue Recognition	Revenue Recognition As part of our on-going assessment of estimated service periods, during the three months ended June 30, 2017, we extended Grand Theft Auto V's estimated service period from 41 to 50 months.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Accounting for Goodwill In January 2017, the FASB issued ASU 2017-04, Intangibles - Goodwill and Other (Topic 350) . This ASU eliminates Step 2 from the goodwill impairment test. Under the new guidance, an entity should perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, this ASU eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform a qualitative assessment and, if it fails that qualitative test, to perform Step 2 of the goodwill impairment test. The amendments in this ASU are effective for fiscal years beginning after December 15, 2019 (April 1, 2020 for the Company), including interim periods within those fiscal years, and is applied on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. While we are currently evaluating the impact of the adoption of this ASU, we do not believe that the adoption of this guidance will have a material impact on our consolidated financial statements. Accounting for Restricted Cash In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash . This ASU amends the presentation of restricted cash within the statement of cash flows. The new guidance requires that changes in restricted cash and cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts on the statement of cash flows. This standard will be effective for fiscal years beginning after December 15, 2017 (April 1, 2018 for the Company), including interim periods within those fiscal years. Early adoption is permitted. We are currently evaluating the impact of the adoption of this ASU. Accounting for Leases In February 2016, the FASB issued ASU 2016-02, Leases . This new guidance requires lessees to recognize a right-of-use asset and a lease liability for virtually all leases (other than leases that meet the definition of a short-term lease). The liability will be equal to the present value of lease payments. The asset will be based on the liability, subject to adjustment, such as for initial direct costs. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as either operating or finance. Operating leases will result in straight-line expense (similar to current operating leases) while finance leases will result in a front-loaded expense pattern (similar to current capital leases). Classification will be based on criteria that are largely similar to those applied in current lease accounting. This update is effective for annual periods, and interim periods within those years, beginning after December 15, 2018 (April 1, 2019 for the Company). This new guidance must be adopted using a modified retrospective approach whereby lessees and lessors are required to recognize and measure leases at the beginning of the earliest period presented using a modified retrospective approach. Early adoption is permitted. We are currently evaluating the impact of adopting this update on our Consolidated Financial Statements, which will consist primarily of a balance sheet gross up of our operating leases, mostly for office space. Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . Under the new standard, revenue is recognized when a customer obtains control of promised goods or services and is recognized in an amount that reflects the consideration, which the entity expects to receive in exchange for those goods or services. In addition, the standard requires disclosure of the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. The FASB recently issued several amendments to the standard, including clarifications on disclosure of prior-period performance obligations and remaining performance obligations. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the cumulative catch-up transition method). The new standard is effective for annual reporting periods, and interim periods within those annual periods, beginning after December 15, 2017 (April 1, 2018 for the Company), with early adoption permitted for annual reporting periods beginning after December 15, 2016 (April 1, 2017 for the Company). The Company will adopt the new standard effective April 1, 2018 using the cumulative catch-up transition method. We anticipate this standard will have a material impact on our Consolidated Financial Statements. While we are continuing to assess all potential impacts of the standard, we currently believe the most significant impact relates to our accounting for on-line enabled games that benefit from meaningful post-contract customer support ("PCS") such as unspecified content updates for which we do not have vendor specific objective evidence of fair value ("VSOE"). Under the current accounting standards, for titles that do not have VSOE, we recognize the entire sales price ratably over the title's estimated service period. The VSOE requirement will be eliminated under the new standard. Accordingly, we may be required to recognize as revenue a portion of the sales price upon delivery of the software, as compared to the current requirement of recognizing the entire sales price ratably over an estimated offering period. It is possible that our evaluation of the expected impact of the new standard on certain transactions could change if there are additional interpretations of the new revenue guidance that are different from our preliminary conclusions.

MANAGEMENT AGREEMENT (Tables)

MANAGEMENT AGREEMENT (Tables)	3 Months Ended
	Jun. 30, 2017
MANAGEMENT AGREEMENT
Schedule of restricted stock units granted	In connection with the 2014 Management Agreement, we granted restricted stock units as follows: Three Months Ended June 30, 2017 2016 Time-based 66,122 107,551 Market-based(1) 122,370 199,038 Performance-based(1) New IP 20,396 33,174 Major IP 20,394 33,172 Total—Performance-based 40,790 66,346 Total Restricted Stock Units 229,282 372,935 _______________________________________________________________________________ (1) Represents the maximum number of shares eligible to vest.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
Segregation of all assets and liabilities measured at fair value on a recurring basis	The table below segregates all assets and liabilities that are measured at fair value on a recurring basis (which is measured at least annually) into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. June 30, 2017 Quoted prices in active markets for identical assets (level 1) Significant other observable inputs (level 2) Significant unobservable inputs (level 3) Balance Sheet Classification Money market funds $ 522,035 $ 522,035 $ — $ — Cash and cash equivalents Bank-time deposits 35,368 35,368 — — Cash and cash equivalents Commercial paper 7,692 — 7,692 — Cash and cash equivalents Corporate bonds 230,015 — 230,015 — Short-term investments Bank-time deposits 200,945 200,945 — — Short-term investments Commercial paper 17,519 — 17,519 — Short-term investments Mutual funds 4,470 — 4,470 — Short-term investments Foreign currency forward contracts 17 — 17 — Prepaid expenses and other Foreign currency forward contracts (7,345 ) — (7,345 ) — Accrued and other current liabilities Private equity 720 — — 720 Other assets Contingent consideration 6,808 — — 6,808 Other long-term liabilities Total recurring fair value measurements, net $ 1,018,244 $ 758,348 $ 252,368 $ 7,528 March 31, 2017 Quoted prices Significant Significant Balance Sheet Classification Money market funds $ 646,386 $ 646,386 $ — $ — Cash and cash equivalents Bank-time deposits 46,605 46,605 — — Cash and cash equivalents Commercial paper 38,268 — 38,268 — Cash and cash equivalents Corporate bonds 243,019 — 243,019 — Short-term investments Bank-time deposits 175,745 175,745 — — Short-term investments Commercial paper 25,936 — 25,936 — Short-term investments Mutual funds 4,232 — 4,232 — Short-term investments Foreign currency forward contracts 2 — 2 — Prepaid expenses and other Foreign currency forward contracts (352 ) — (352 ) — Accrued and other current liabilities Private equity 570 — — 570 Other assets Contingent consideration 6,465 — — 6,465 Other long-term liabilities Total recurring fair value measurements, net $ 1,186,876 $ 868,736 $ 311,105 $ 7,035

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	3 Months Ended
	Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of short-term investments	Our short-term investments consisted of the following: June 30, 2017 Gross Cost or Gains Losses Fair Value Short-term investments Bank time deposits $ 200,945 $ — $ — $ 200,945 Available-for-sale securities: Corporate bonds 230,070 110 (165 ) 230,015 Commercial paper 17,517 2 — 17,519 Mutual funds 4,337 147 (14 ) 4,470 Total short-term investments $ 452,869 $ 259 $ (179 ) $ 452,949
Summary of the contracted maturities of short-term investments	The following table summarizes the contracted maturities of our short-term investments at June 30, 2017 : June 30, 2017 Amortized Fair Short-term investments Due in 1 year or less $ 358,780 $ 358,881 Due in 1 - 2 years 94,085 94,068 Total short-term investments $ 452,865 $ 452,949

DERIVATIVE INSTRUMENTS AND HE24

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of gross notional amounts of foreign currency forward contracts	The following table shows the gross notional amounts of foreign currency forward contracts: June 30, 2017 March 31, 2017 Forward contracts to sell foreign currencies $ 180,714 $ 177,549 Forward contracts to purchase foreign currencies 7,757 9,170

INVENTORY (Tables)

INVENTORY (Tables)	3 Months Ended
	Jun. 30, 2017
Inventory Disclosure [Abstract]
Inventory balances by category	Inventory balances by category are as follows: June 30, 2017 March 31, 2017 Finished products $ 10,819 $ 15,530 Parts and supplies 817 793 Inventory $ 11,636 $ 16,323

SOFTWARE DEVELOPMENT COSTS AN26

SOFTWARE DEVELOPMENT COSTS AND LICENSES (Tables)	3 Months Ended
	Jun. 30, 2017
SOFTWARE DEVELOPMENT COSTS AND LICENSES
Schedule of capitalized software development costs and licenses	Details of our capitalized software development costs and licenses are as follows: June 30, 2017 March 31, 2017 Current Non-current Current Non-current Software development costs, internally developed $ 13,716 $ 377,790 $ 28,959 $ 310,229 Software development costs, externally developed 1,601 83,556 5,455 71,407 Licenses 4,864 1,531 7,307 274 Software development costs and licenses $ 20,181 $ 462,877 $ 41,721 $ 381,910

ACCRUED EXPENSES AND OTHER CU27

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Jun. 30, 2017
Liabilities, Current [Abstract]
Schedule of components of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consist of the following: June 30, 2017 March 31, 2017 Software development royalties $ 551,646 $ 492,133 Business reorganization 70,959 65,935 Compensation and benefits 41,837 44,843 Licenses 33,190 37,019 Deferred acquisition payments 25,000 25,000 Marketing and promotions 21,978 21,030 Other 65,075 64,915 Accrued expenses and other current liabilities $ 809,685 $ 750,875

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Information related to availability on Credit Agreement	Information related to availability on our Credit Agreement is as follows: June 30, 2017 March 31, 2017 Available borrowings $ 98,336 $ 98,320 Outstanding letters of credit 1,664 1,664
Schedule of additional information related to convertible notes	The following table provides additional information related to our 1.00% Convertible Notes: June 30, 2017 March 31, 2017 Additional paid-in capital $ 35,784 $ 35,784 Principal amount of 1.00% Convertible Notes $ 223,687 $ 268,149 Unamortized discount of the liability component 10,514 15,751 Carrying amount of debt issuance costs 309 469 Net carrying amount of 1.00% Convertible Notes $ 212,864 $ 251,929
Schedule of components of interest expense related to convertible notes	The following table provides the components of interest expense related to our 1.00% Convertible Notes: Three Months Ended June 30, 2017 2016 Cash interest expense (coupon interest expense) $ 448 $ 719 Non-cash amortization of discount on 1.00% Convertible Notes 5,237 3,135 Amortization of debt issuance costs 160 107 Total interest expense related to 1.00% Convertible Notes $ 5,845 $ 3,961

EARNINGS (LOSS) PER SHARE ("E29

EARNINGS (LOSS) PER SHARE ("EPS") (Tables)	3 Months Ended
	Jun. 30, 2017
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted loss per share	The following table sets forth the computation of basic and diluted earnings (loss) per share (shares in thousands): Three Months Ended June 30, 2017 2016 Computation of Basic earnings (loss) per share: Net income (loss) $ 60,276 $ (38,567 ) Less: net income allocated to participating securities $ (588 ) — Net income (loss) for basic earnings (loss) per share calculation $ 59,688 $ (38,567 ) Total weighted average shares outstanding—basic 105,494 84,588 Less: weighted average participating shares outstanding (1,029 ) — Weighted average common shares outstanding—basic 104,465 84,588 Basic earnings (loss) per share $ 0.57 $ (0.46 ) Computation of Diluted earnings (loss) per share: Net income (loss) $ 60,276 $ (38,567 ) Less: net income allocated to participating securities $ (522 ) — Add: interest expense, net of tax, on Convertible Notes $ 5,750 — Net income (loss) for diluted earnings (loss) per share calculation $ 65,504 $ (38,567 ) Weighted average common shares outstanding—basic 105,494 84,588 Add: dilutive effect of common stock equivalents 13,288 — Weighted average common shares outstanding—diluted 118,782 84,588 Less: weighted average participating shares outstanding (1,029 ) — Weighted average common shares outstanding- diluted 117,753 84,588 Diluted earnings (loss) per share $ 0.56 $ (0.46 )

ACCUMULATED OTHER COMPREHENSI30

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Jun. 30, 2017
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of components of accumulated other comprehensive loss	The following table provides the components of accumulated other comprehensive loss: Three Months Ended June 30, 2017 Foreign Unrealized Unrealized Total Balance at March 31, 2017 $ (47,666 ) $ 600 $ (76 ) $ (47,142 ) Other comprehensive income before reclassifications 9,476 — 84 9,560 Amounts reclassified from accumulated other comprehensive loss — — — — Balance at June 30, 2017 $ (38,190 ) $ 600 $ 8 $ (37,582 ) Three Months Ended June 30, 2016 Foreign Unrealized Unrealized Total Balance at March 31, 2016 $ (38,580 ) $ 600 $ 84 $ (37,896 ) Other comprehensive income (loss) before reclassifications (3,633 ) — 206 (3,427 ) Amounts reclassified from accumulated other comprehensive loss — — 4 4 Balance at June 30, 2016 $ (42,213 ) $ 600 $ 294 $ (41,319 )

BASIS OF PRESENTATION AND SIG31

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES - WHOLLY OWNED LABELS (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2017USD ($)label	Jun. 30, 2016USD ($)	Mar. 31, 2017USD ($)
Finite-Lived Intangible Assets [Line Items]
Wholly-owned labels | label	2
Income from operations	$ 60,276	$ (38,567)
Grand Theft Auto
Finite-Lived Intangible Assets [Line Items]
Estimated service period	50 months		41 months
Scenario, Adjustment | Grand Theft Auto
Finite-Lived Intangible Assets [Line Items]
Revenues	$ (25,683)
Income from operations	$ (23,731)
Accounting Standards Update 2016-09 | Scenario, Adjustment
Finite-Lived Intangible Assets [Line Items]
Deferred tax assets, net			$ 24,594
Retained Earnings | Accounting Standards Update 2016-09, Forfeiture Rate Component
Finite-Lived Intangible Assets [Line Items]
Cumulative effect of new accounting principle			(323)
Additional Paid-in Capital | Accounting Standards Update 2016-09, Forfeiture Rate Component
Finite-Lived Intangible Assets [Line Items]
Cumulative effect of new accounting principle			$ 323

MANAGEMENT AGREEMENT (Details)

MANAGEMENT AGREEMENT (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Mar. 31, 2014	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2017
Restricted stock units
Management Agreement
Stock-based compensation expense for non-employee awards		$ 6,014	$ 3,889
2014 Management Agreement | Restricted stock units | Maximum
Management Agreement
Vesting requirement for market-based restricted stock		75th
2014 Management Agreement | Restricted stock awards
Management Agreement
Vested (in shares)		478,839
Forfeited (in shares)		46,752
Zelnick Media Corporation
Management Agreement
Consulting expense benefit		$ 1,337		$ 1,337
Zelnick Media Corporation | 2014 Management Agreement
Management Agreement
Annual management fee	$ 2,970
Zelnick Media Corporation | 2014 Management Agreement | Maximum
Management Agreement
Bonus per fiscal year based on the achievement of certain performance thresholds	$ 4,752
Zelnick Media Corporation | 2014 Management Agreement | Time-based restricted units
Management Agreement
Granted (in shares)		66,122	107,551
Zelnick Media Corporation | 2014 Management Agreement | Market-based restricted stock
Management Agreement
Measurement period		2 years
Percentage of grants earned		50.00%
Vesting requirement for market-based restricted stock		50th
Zelnick Media Corporation | 2014 Management Agreement | Market-based restricted units
Management Agreement
Granted (in shares)		122,370	199,038
Zelnick Media Corporation | 2014 Management Agreement | Performance-based restricted units
Management Agreement
Granted (in shares)		40,790	66,346
Measurement period		2 years
Percentage of grants earned		50.00%
Zelnick Media Corporation | 2014 Management Agreement | New IP
Management Agreement
Granted (in shares)		20,396	33,174
Percentage of grants earned		50.00%
Zelnick Media Corporation | 2014 Management Agreement | Major IP
Management Agreement
Granted (in shares)		20,394	33,172
Percentage of grants earned		50.00%
Zelnick Media Corporation | 2014 Management Agreement | Restricted stock units
Management Agreement
Granted (in shares)		229,282	372,935
Unvested portion of the shares of restricted stock granted		602,217			898,526

FAIR VALUE MEASUREMENTS - ASSET

FAIR VALUE MEASUREMENTS - ASSETS MEASURED AT FAIR VALUE (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Assets measured at fair value on a recurring basis
Total recurring fair value measurements, net	$ 1,018,244	$ 1,186,876
Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	200,945	175,745
Corporate bonds	230,015	243,019
Prepaid expenses and other
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	17	2
Accrued and other current liabilities
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	(7,345)	(352)
Other assets
Assets measured at fair value on a recurring basis
Private equity	720	570
Other long-term liabilities
Assets measured at fair value on a recurring basis
Contingent consideration	6,808	6,465
Money market funds | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	522,035	646,386
Bank-time deposits | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	35,368	46,605
Commercial paper | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	7,692	38,268
Commercial paper | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	17,519	25,936
Mutual funds | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	4,470	4,232
Quoted prices in active markets for identical assets (level 1)
Assets measured at fair value on a recurring basis
Total recurring fair value measurements, net	758,348	868,736
Quoted prices in active markets for identical assets (level 1) | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	200,945	175,745
Corporate bonds	0	0
Quoted prices in active markets for identical assets (level 1) | Prepaid expenses and other
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	0	0
Quoted prices in active markets for identical assets (level 1) | Accrued and other current liabilities
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	0	0
Quoted prices in active markets for identical assets (level 1) | Other assets
Assets measured at fair value on a recurring basis
Private equity	0	0
Quoted prices in active markets for identical assets (level 1) | Other long-term liabilities
Assets measured at fair value on a recurring basis
Contingent consideration	0	0
Quoted prices in active markets for identical assets (level 1) | Money market funds | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	522,035	646,386
Quoted prices in active markets for identical assets (level 1) | Bank-time deposits | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	35,368	46,605
Quoted prices in active markets for identical assets (level 1) | Commercial paper | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Quoted prices in active markets for identical assets (level 1) | Commercial paper | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Quoted prices in active markets for identical assets (level 1) | Mutual funds | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Total recurring fair value measurements, net	252,368	311,105
Significant other observable inputs (level 2) | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Corporate bonds	230,015	243,019
Significant other observable inputs (level 2) | Prepaid expenses and other
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	17	2
Significant other observable inputs (level 2) | Accrued and other current liabilities
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	(7,345)	(352)
Significant other observable inputs (level 2) | Other assets
Assets measured at fair value on a recurring basis
Private equity	0	0
Significant other observable inputs (level 2) | Other long-term liabilities
Assets measured at fair value on a recurring basis
Contingent consideration	0	0
Significant other observable inputs (level 2) | Money market funds | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant other observable inputs (level 2) | Bank-time deposits | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant other observable inputs (level 2) | Commercial paper | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	7,692	38,268
Significant other observable inputs (level 2) | Commercial paper | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	17,519	25,936
Significant other observable inputs (level 2) | Mutual funds | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	4,470	4,232
Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Total recurring fair value measurements, net	7,528	7,035
Significant unobservable inputs (level 3) | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Corporate bonds	0	0
Significant unobservable inputs (level 3) | Prepaid expenses and other
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	0	0
Significant unobservable inputs (level 3) | Accrued and other current liabilities
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	0	0
Significant unobservable inputs (level 3) | Other assets
Assets measured at fair value on a recurring basis
Private equity	720	570
Significant unobservable inputs (level 3) | Other long-term liabilities
Assets measured at fair value on a recurring basis
Contingent consideration	6,808	6,465
Significant unobservable inputs (level 3) | Money market funds | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant unobservable inputs (level 3) | Bank-time deposits | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant unobservable inputs (level 3) | Commercial paper | Cash and cash equivalents
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant unobservable inputs (level 3) | Commercial paper | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Significant unobservable inputs (level 3) | Mutual funds | Short-term investments
Assets measured at fair value on a recurring basis
Cash and cash equivalents	$ 0	$ 0

FAIR VALUE MEASUREMENTS - NARRA

FAIR VALUE MEASUREMENTS - NARRATIVE (Details) - 1.00% Convertible Notes due 2018 $ in Thousands	Jun. 30, 2017USD ($)
Debt Instrument [Line Items]
Interest rate	1.00%
Estimated fair value of convertible notes	$ 762,348

SHORT-TERM INVESTMENTS (Details

SHORT-TERM INVESTMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	$ 452,869	$ 448,941
Gross Unrealized Gain	259	226
Gross Unrealized Loss	(179)	(235)
Fair Value	452,949	448,932
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Rolling Maturity [Abstract]
Amortized cost, Due in 1 year or less	358,780
Amortized cost, Due in 1-2 years	94,085
Total amortized cost	452,865
Available-for-sale Securities, Debt Maturities, Fair Value, Rolling Maturity [Abstract]
Fair value, Due in 1 year or less	358,881
Fair value, Due in 1-2 years	94,068
Total fair value	452,949
Bank time deposits
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	200,945	175,745
Gross Unrealized Gain	0	0
Gross Unrealized Loss	0	0
Fair Value	200,945	175,745
Corporate bonds
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	230,070	243,140
Gross Unrealized Gain	110	98
Gross Unrealized Loss	(165)	(219)
Fair Value	230,015	243,019
Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	17,517	25,938
Gross Unrealized Gain	2	5
Gross Unrealized Loss	0	(7)
Fair Value	17,519	25,936
Mutual funds
Schedule of Available-for-sale Securities [Line Items]
Cost or Amortized Cost	4,337	4,118
Gross Unrealized Gain	147	123
Gross Unrealized Loss	(14)	(9)
Fair Value	$ 4,470	$ 4,232

DERIVATIVE INSTRUMENTS AND HE36

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Forward contracts to sell foreign currencies	$ 180,714		$ 177,549
Forward contracts to purchase foreign currencies	7,757		$ 9,170
Derivative instrument not designated as hedging instruments, gain (loss), net	$ (8,603)	$ 798

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Finished products	$ 10,819	$ 15,530
Parts and supplies	817	793
Inventory	11,636	16,323
Estimated product returns included in inventory	$ 401	$ 529

SOFTWARE DEVELOPMENT COSTS AN38

SOFTWARE DEVELOPMENT COSTS AND LICENSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Mar. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	$ 20,181		$ 41,721
Software development costs and licenses, Non-current	462,877		381,910
Software development impairment charges	684	$ 9,068
Software development costs, internally developed
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	13,716		28,959
Software development costs and licenses, Non-current	377,790		310,229
Software development costs, externally developed
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	1,601		5,455
Software development costs and licenses, Non-current	83,556		71,407
Licenses
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	4,864		7,307
Software development costs and licenses, Non-current	$ 1,531		$ 274

ACCRUED EXPENSES AND OTHER CU39

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017
Liabilities, Current [Abstract]
Software development royalties	$ 551,646	$ 492,133
Business reorganization	70,959	65,935
Compensation and benefits	41,837	44,843
Licenses	33,190	37,019
Deferred acquisition payments	25,000	25,000
Marketing and promotions	21,978	21,030
Other	65,075	64,915
Accrued expenses and other current liabilities	$ 809,685	$ 750,875

DEBT - CREDIT AGREEMENT (Detail

DEBT - CREDIT AGREEMENT (Details)	1 Months Ended	3 Months Ended
	Apr. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2017USD ($)
Credit Agreement
Credit Agreement
Maximum borrowing capacity	$ 100,000,000
Amount of additional borrowings by which maximum borrowing capacity may be increased	$ 100,000,000
Outstanding borrowings		$ 0		$ 0
Credit Agreement Availability
Minimum liquidity level allowing unrestricted access to the Credit Agreement		300,000,000
Available borrowings		98,336,000		98,320,000
Outstanding letters of credit		1,664,000		$ 1,664,000
Interest expense and fees		$ 110,000	$ 0
Trailing period for measurement of interest coverage ratio	12 months
Maximum liquidity level triggering the requirement to maintain an interest coverage ratio of one to one	$ 30,000,000
Credit Agreement | Minimum
Credit Agreement
Monthly fee on unused available balance (as a percent)	0.25%
Credit Agreement Availability
Interest coverage ratio	1
Credit Agreement | Maximum
Credit Agreement
Monthly fee on unused available balance (as a percent)	0.375%
Credit Agreement | Base rate
Credit Agreement
Interest rate, variable rate basis		base rate
Interest rate at end of period		4.25%
Credit Agreement | Base rate | Minimum
Credit Agreement
Interest rate added to base rate		0.25%
Credit Agreement | Base rate | Maximum
Credit Agreement
Interest rate added to base rate		0.75%
Credit Agreement | LIBOR
Credit Agreement
Interest rate, variable rate basis		LIBOR
Interest rate at end of period		2.48%
Credit Agreement | LIBOR | Minimum
Credit Agreement
Interest rate added to base rate		1.25%
Credit Agreement | LIBOR | Maximum
Credit Agreement
Interest rate added to base rate		1.75%
Letter of Credit
Credit Agreement
Maximum borrowing capacity	$ 5,000,000

DEBT - CONVERTIBLE DEBT INFORMA

DEBT - CONVERTIBLE DEBT INFORMATION (Details) - 1.00% Convertible Notes due 2018 - USD ($) $ in Thousands	Jun. 30, 2017	Mar. 31, 2017	Jun. 18, 2013
Debt Instrument [Line Items]
Interest rate	1.00%
Convertible Debt
Debt Instrument [Line Items]
Interest rate			1.00%
Additional paid-in capital	$ 35,784	$ 35,784
Principal amount of Convertible Notes	223,687	268,149
Unamortized discount of the liability component	10,514	15,751
Carrying amount of debt issuance costs	309	469
Net carrying amount of Convertible Notes	$ 212,864	$ 251,929

DEBT - 1.00 CONVERTIBLE NOTES (

DEBT - 1.00 CONVERTIBLE NOTES (Details) - 1.00% Convertible Notes due 2018	Jul. 17, 2013USD ($)	Jun. 18, 2013USD ($)label$ / shares	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Jul. 12, 2013USD ($)
Convertible Notes
Interest rate			1.00%
Estimated fair value of convertible notes			$ 762,348,000
Convertible Debt
Convertible Notes
Principal amount at issuance		$ 250,000,000
Interest rate		1.00%
Percentage of par value at which debt was issued		98.50%
Proceeds from issuance of debt	$ 283,188,000	$ 246,250,000
Period of overallotment option to purchase additional amount of debt granted to underwriters		30 days
Amount pertaining to exercise of over-allotment of debt by underwriters	$ 37,500,000
Initial conversion rate of common stock per $1000 of principal amount of Convertible Notes (in shares)		46.4727
Principal amount used for debt instrument conversion ratio		$ 1,000
Initial conversion price of convertible notes into common stock (in dollars per share) | $ / shares		$ 21.52
Number of shares to be converted into common stock | label		13,361,000
Converted instrument amount			44,369,000
Estimated fair value of convertible notes					$ 225,567,000
Non-convertible borrowing rate	6.15%
Carrying amount of the equity component of convertible notes					57,621,000
Banking, legal and accounting fees related to issuance of convertible notes					$ 2,815,000
Banking, legal and accounting fees related to issuance of convertible notes allocated to the liability component	$ 2,209,000
Banking, legal and accounting fees related to issuance of convertible notes allocated to the equity component	$ 606,000
Principal amount of Convertible Notes			223,687,000	$ 268,149,000
The value by which Convertible Notes exceed the principal value			$ 538,661,000	$ 470,456,000
Convertible Debt | Maximum
Convertible Notes
Additional amount of debt for purchase of which overallotment option is granted to underwriters		$ 37,500,000
Convertible Debt | Conversion Terms at Holder's Option
Convertible Notes
Principal amount used for debt instrument conversion ratio		$ 1,000
Target ratio of closing share price to conversion price as a condition for conversion or redemption of Convertible Notes (as a percent)		130.00%	130.00%
Ratio of closing share price to conversion price as a condition for conversion of Convertible Notes (as a percent)		98.00%
Convertible Debt | Conversion Terms at Holder's Option | Minimum
Convertible Notes
Number of trading days triggering conversion of redemption feature		20 days	20 days
Number of trading days in the measurement period that the entity's common stock closing price to conversion price must exceed a specified percentage of conversion price to trigger conversion feature of notes | label		5
Convertible Debt | Conversion Terms at Holder's Option | Maximum
Convertible Notes
Number of trading days triggering conversion of redemption feature		30 days	30 days
Number of trading days in the measurement period that the entity's common stock closing price to conversion price must exceed a specified percentage of conversion price to trigger conversion feature of notes | label		10
Convertible Debt | Conversion Terms upon Occurrence of Certain Fundamental Company Changes
Convertible Notes
Percentage of principal amount for computation of redemption price		100.00%
Convertible Debt | Conversion Terms, Event of Default
Convertible Notes
Minimum percentage of aggregate principal amount held by bondholders to declare notes due and payable		25.00%
In event of default arising out of certain bankruptcy events, the percentage of principal amount due and payable		100.00%

DEBT - INTEREST EXPENSE COMPONE

DEBT - INTEREST EXPENSE COMPONENTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 18, 2013
Debt Instrument [Line Items]
Non-cash amortization of discount on Convertible Notes	$ 5,237	$ 6,098
Amortization of debt issuance costs	$ 188	381
1.00% Convertible Notes due 2018
Debt Instrument [Line Items]
Interest rate	1.00%
Convertible Debt | 1.00% Convertible Notes due 2018
Debt Instrument [Line Items]
Interest rate			1.00%
Cash interest expense (coupon interest expense)	$ 448	719
Non-cash amortization of discount on Convertible Notes	5,237	3,135
Amortization of debt issuance costs	160	107
Total interest expense related to Convertible Notes	$ 5,845	$ 3,961

EARNINGS (LOSS) PER SHARE ("E44

EARNINGS (LOSS) PER SHARE ("EPS") (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Computation of Basic earnings (loss) per share:
Net income (loss)	$ 60,276	$ (38,567)
Less: net income allocated to participating securities	(588)	0
Net income (loss) for basic earnings (loss) per share calculation	$ 59,688	$ (38,567)
Total weighted average shares outstanding—basic (in shares)	105,494	84,588
Less: weighted average participating shares outstanding (in shares)	(1,029)	0
Weighted average common shares outstanding—basic (in shares)	104,465	84,588
Basic earnings (loss) per share (in dollars per share)	$ 0.57	$ (0.46)
Earnings Per Share, Diluted [Abstract]
Net income (loss)	$ 60,276	$ (38,567)
Less: net income allocated to participating securities	(522)	0
Add: interest expense, net of tax, on Convertible Notes	5,750	0
Net income (loss) for diluted earnings (loss) per share calculation	$ 65,504	$ (38,567)
Total weighted average shares outstanding—basic (in shares)	105,494	84,588
Add: dilutive effect of common stock equivalents (in shares)	13,288	0
Weighted average common shares outstanding—diluted (in shares)	118,782	84,588
Less: weighted average participating shares outstanding (in shares)	(1,029)	0
Weighted average common shares outstanding- diluted (in shares)	117,753	84,588
Diluted earnings (loss) per share (in dollars per share)	$ 0.56	$ (0.46)

EARNINGS (LOSS) PER SHARE ("E45

EARNINGS (LOSS) PER SHARE ("EPS") (Narrative) (Details) - shares	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from calculation of EPS (in shares)		5,428,000
Restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Restricted stock awards, vested (in shares)	1,867,707
Restricted stock awards, issued (in shares)	442,537
Restricted stock awards, canceled (in shares)	3,452

ACCUMULATED OTHER COMPREHENSI46

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Changes in accumulated other comprehensive loss
Balance	$ (47,142)	$ (37,896)
Other comprehensive income before reclassifications	9,560	(3,427)
Amounts reclassified from accumulated other comprehensive loss	0	4
Balance	(37,582)	(41,319)
Foreign currency translation adjustments
Changes in accumulated other comprehensive loss
Balance	(47,666)	(38,580)
Other comprehensive income before reclassifications	9,476	(3,633)
Amounts reclassified from accumulated other comprehensive loss	0	0
Balance	(38,190)	(42,213)
Unrealized gain (loss) on derivative instruments
Changes in accumulated other comprehensive loss
Balance	600	600
Other comprehensive income before reclassifications	0	0
Amounts reclassified from accumulated other comprehensive loss	0	0
Balance	600	600
Unrealized gain (loss) on available-for-sale securities
Changes in accumulated other comprehensive loss
Balance	(76)	84
Other comprehensive income before reclassifications	84	206
Amounts reclassified from accumulated other comprehensive loss	0	4
Balance	$ 8	$ 294

COMMITMENTS AND CONTINGENCIES -

COMMITMENTS AND CONTINGENCIES - LEGAL AND OTHER PROCEEDINGS (Details) $ in Thousands	Apr. 12, 2016USD ($)
Legal and Other Proceedings
Damages claimed (at least)	$ 150,000

BUSINESS REORGANIZATION (Detail

BUSINESS REORGANIZATION (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2017USD ($)location	Jun. 30, 2016USD ($)	Mar. 31, 2017USD ($)location
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 10,599	$ 0
Accrued Expenses and Other Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve			$ 65,935
Fiscal 2018 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	10,599
Fiscal 2018 Plan | Accrued Expenses and Other Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	5,024
Fiscal 2018 Plan | Other long-term liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 3,197
Fiscal 2016 Plan
Restructuring Cost and Reserve [Line Items]
Number of locations reorganized | location	1
Number of studios closed | location			2
Fiscal 2016 Plan | Accrued Expenses and Other Current Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring reserve	$ 65,935
Reorganization Activities | Fiscal 2018 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 2,378