Take-Two Interactive Software (TTWO) 10-Q 3 Aug 21 2022 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Jun. 30, 2021	Jul. 22, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-34003
Entity Registrant Name	TAKE-TWO INTERACTIVE SOFTWARE, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0350842
Entity Address, Address Line One	110 West 44th Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10036
City Area Code	646
Local Phone Number	536-2842
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	TTWO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		116,518,331
Entity Central Index Key	0000946581
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 1,400,876	$ 1,422,884
Short-term investments	1,135,188	1,308,692
Restricted cash and cash equivalents	653,069	538,822
Accounts receivable, net of allowances of $350 and $350 at June 30, 2021 and March 31, 2021, respectively	487,171	552,762
Inventory	11,491	17,742
Software development costs and licenses	14,620	43,443
Deferred cost of goods sold	10,820	15,524
Prepaid expenses and other	300,377	320,646
Total current assets	4,013,612	4,220,515
Fixed assets, net	224,880	149,364
Right-of-use assets	163,464	164,763
Software development costs and licenses, net of current portion	607,207	490,892
Goodwill	645,591	535,306
Other intangibles, net	305,707	121,591
Deferred tax assets	78,383	90,206
Long-term restricted cash and cash equivalents	103,433	98,541
Other assets	171,978	157,040
Total assets	6,314,255	6,028,218
Current liabilities:
Accounts payable	67,136	71,001
Accrued expenses and other current liabilities	1,242,312	1,204,090
Deferred revenue	824,520	928,029
Lease liabilities	31,361	31,595
Total current liabilities	2,165,329	2,234,715
Non-current deferred revenue	51,318	37,302
Non-current lease liabilities	156,951	159,671
Non-current software development royalties	111,652	110,127
Other long-term liabilities	197,698	154,511
Total liabilities	2,682,948	2,696,326
Commitments and contingencies
Take-Two Interactive Software, Inc. stockholders' equity
Preferred stock, $.01 par value, 5,000 shares authorized; no shares issued and outstanding at June 30, 2021 and March 31, 2021	0	0
Common stock, $.01 par value, 200,000 shares authorized; 138,846 and 137,584 shares issued and 116,425 and 115,163 outstanding at June 30, 2021 and March 31, 2021, respectively	1,389	1,376
Additional paid-in capital	2,417,658	2,288,781
Treasury stock, at cost; 22,421 common shares at June 30, 2021 and March 31, 2021	(820,572)	(820,572)
Retained earnings	2,023,227	1,870,971
Accumulated other comprehensive loss	(2,770)	(8,664)
Total Take-Two Interactive Software, Inc. stockholders' equity	3,618,932	3,331,892
Non-controlling interest	12,375	0
Total equity	3,631,307	3,331,892
Total liabilities and equity	$ 6,314,255	$ 6,028,218

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 350	$ 350
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	138,846,000	137,584,000
Common stock, shares outstanding (in shares)	116,425,000	115,163,000
Treasury stock, shares (in shares)	22,421,000	22,421,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Net revenue	$ 813,346	$ 831,310
Cost of goods sold	329,715	476,689
Gross profit	483,631	354,621
Selling and marketing	103,854	84,779
General and administrative	104,447	102,173
Research and development	92,294	73,108
Depreciation and amortization	12,465	12,418
Business reorganization	97	0
Total operating expenses	313,157	272,478
Income from operations	170,474	82,143
Interest and other, net	(1,027)	8,218
Gain on long-term investments, net	1,997	0
Income before income taxes	171,444	90,361
Provision for income taxes	19,188	1,856
Net income	$ 152,256	$ 88,505
Earnings per share:
Basic earnings per share (in dollars per share)	$ 1.32	$ 0.78
Diluted earnings per share (in dollars per share)	$ 1.30	$ 0.77

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 152,256	$ 88,505
Other comprehensive income:
Foreign currency translation adjustment	6,132	4,701
Cash flow hedges:
Change in unrealized gains	0	(3,817)
Reclassification to earnings	0	(1,333)
Tax effect on effective cash flow hedges	0	845
Change in fair value of effective cash flow hedge	0	(4,305)
Change in fair value of available for sale securities	(238)	5,849
Other comprehensive income	5,894	6,245
Comprehensive income	$ 158,150	$ 94,750

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Operating activities:
Net income		$ 152,256	$ 88,505
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and impairment of software development costs and licenses		24,511	57,441
Depreciation		12,464	12,298
Amortization and impairment of intellectual property		15,215	4,986
Stock-based compensation		49,050	53,411
Other, net		13,802	(2,924)
Changes in assets and liabilities:
Accounts receivable		74,681	(91,846)
Inventory		6,336	(131)
Software development costs and licenses		(85,887)	(60,219)
Prepaid expenses and other assets		17,622	80,759
Deferred revenue		(94,660)	153,525
Deferred cost of goods sold		4,850	5,398
Accounts payable, accrued expenses and other liabilities		(41,998)	144,220
Net cash provided by operating activities		148,242	445,423
Investing activities:
Change in bank time deposits		311,893	(161,026)
Proceeds from available-for-sale securities		161,151	117,738
Purchases of available-for-sale securities		(302,485)	(188,372)
Purchases of fixed assets		(86,433)	(8,905)
Purchases of long-term investments		(96)	(6,900)
Business acquisitions		(97,887)	0
Net cash used in investing activities		(13,857)	(247,465)
Financing activities:
Tax payment related to net share settlements on restricted stock awards		(48,261)	(38,506)
Issuance of common stock		9,230	6,503
Net cash used in financing activities		(39,031)	(32,003)
Effects of foreign currency exchange rates on cash, cash equivalents, and restricted cash and cash equivalents		1,777	1,925
Net change in cash, cash equivalents, and restricted cash and cash equivalents		97,131	167,880
Cash, cash equivalents, and restricted cash and cash equivalents, beginning of year	[1]	2,060,247	1,993,392
Cash, cash equivalents, and restricted cash and cash equivalents, end of period	[1]	$ 2,157,378	$ 2,161,272
[1]	Cash, cash equivalents and restricted cash and cash equivalents shown on our Condensed Consolidated Statements of Cash Flow includes amounts in the Cash and cash equivalents, Restricted cash and cash equivalents, and Long-term restricted cash and cash equivalents on our Condensed Consolidated Balance Sheet.

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-controlling interest
Beginning balance (in shares) at Mar. 31, 2020		135,927		(22,421)
Beginning balance at Mar. 31, 2020	$ 2,539,244	$ 1,359	$ 2,134,748	$ (820,572)	$ 1,282,085	$ (58,376)
Increase (Decrease) in Stockholders' Equity
Net income	88,505				88,505
Change in cumulative foreign currency translation adjustment	4,701					4,701
Change in gains on cash flow hedge, net	(4,305)					(4,305)
Change in fair value of available for sale securities	5,849					5,849
Stock-based compensation	49,037		49,037
Issuance of restricted stock, net of forfeitures and cancellations (in shares)		979
Issuance of restricted stock, net of forfeitures and cancellations	0	$ 10	(10)
Net share settlement of restricted stock awards (in shares)		(282)
Net share settlement of restricted stock awards	(38,506)	$ (3)	(38,503)
Employee share purchase plan settlement (in shares)		65
Employee share purchase plan settlement	6,503	$ 1	6,502
Ending balance (in shares) at Jun. 30, 2020		136,689		(22,421)
Ending balance at Jun. 30, 2020	2,651,028	$ 1,367	2,151,774	$ (820,572)	1,370,590	(52,131)
Beginning balance (in shares) at Mar. 31, 2021		137,584		(22,421)
Beginning balance at Mar. 31, 2021	3,331,892	$ 1,376	2,288,781	$ (820,572)	1,870,971	(8,664)	$ 0
Increase (Decrease) in Stockholders' Equity
Net income	152,256				152,256
Change in cumulative foreign currency translation adjustment	6,132					6,132
Change in fair value of available for sale securities	(238)					(238)
Stock-based compensation	73,767		73,767
Issuance of restricted stock, net of forfeitures and cancellations (in shares)		943
Issuance of restricted stock, net of forfeitures and cancellations	0	$ 9	(9)
Net share settlement of restricted stock awards (in shares)		(266)
Net share settlement of restricted stock awards	(48,261)	$ (2)	(48,259)
Employee share purchase plan settlement (in shares)		70
Employee share purchase plan settlement	9,230	$ 1	9,229
Issuance of shares related to Nordeus acquisition (in shares)		515
Issuance of shares related to Nordeus acquisition	94,154	$ 5	94,149
Call option related to Nordeus Acquisition	12,375						12,375
Ending balance (in shares) at Jun. 30, 2021		138,846		(22,421)
Ending balance at Jun. 30, 2021	$ 3,631,307	$ 1,389	$ 2,417,658	$ (820,572)	$ 2,023,227	$ (2,770)	$ 12,375

BASIS OF PRESENTATION AND SIGNI

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2021
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 Rockstar Games, 2K, Private Division, and T2 Mobile Games, which includes Socialpoint, Playdots, and Nordeus. Our products are designed for console systems, including but not limited to, Sony's PlayStation®4 ("PS4") and PlayStation 5 ("PS5"), Microsoft's Xbox One® ("Xbox One") and Xbox Series X|S ("Xbox Series X|S"), and Nintendo's Switch™ ("Switch"), personal computers ("PC"), and mobile including smart phones and tablets ("Mobile"), 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 our opinion, 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 intercompany 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 ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under U.S. GAAP, interim accounting for certain expenses, including income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates, including as a result of the COVID-19 pandemic, which may affect economic conditions in a number of different ways and result in uncertainty and risk. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), 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, 2021. Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation. Recently Adopted Accounting Pronouncements Accounting for Income Taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. We adopted this update effective April 1, 2021. The adoption of this standard did not have a material impact on our Condensed Consolidated Financial Statements.

REVENUE FROM CONTRACTS WITH CUS

REVENUE FROM CONTRACTS WITH CUSTOMERS	3 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUE FROM CONTRACTS WITH CUSTOMERS	REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of revenue Service and other revenue Service and other revenue is primarily comprised of revenue from game related services, virtual currency transactions, and in-game purchases which are recognized over an estimated service period. Product revenue Product revenue is primarily comprised of the portion of revenue from software products that is recognized when the customer takes control of the product (i.e., upon delivery of the software product). Net revenue by product revenue and service and other was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: Service and other $ 633,638 $ 532,050 Product 179,708 299,260 Total net revenue $ 813,346 $ 831,310 Recurrent consumer spending revenue Recurrent consumer spending revenue is generated from ongoing consumer engagement and includes revenue from virtual currency, add-on content, and in-game purchases. Full game and other revenue Full game and other revenue primarily includes the initial sale of full game software products, which may include offline and/or significant game related services. Net revenue by full game and other revenue and recurrent consumer spending was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: Recurrent consumer spending $ 572,266 $ 496,853 Full game and other 241,080 334,457 Total net revenue $ 813,346 $ 831,310 Geography We attribute net revenue to geographic regions based on software product destination. Net revenue by geographic region was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: United States $ 493,186 $ 470,490 International 320,160 360,820 Total net revenue $ 813,346 $ 831,310 Platform Net revenue by platform was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: Console $ 602,443 $ 611,685 PC and other 128,645 165,260 Mobile 82,258 54,365 Total net revenue $ 813,346 $ 831,310 Distribution channel Our products are delivered through digital online services (digital download, online platforms, and cloud streaming) and physical retail and other. Net revenue by distribution channel was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: Digital online $ 740,806 $ 735,576 Physical retail and other 72,540 95,734 Total net revenue $ 813,346 $ 831,310 Deferred Revenue We record deferred revenue when payments are due or received in advance of the fulfillment of our associated performance obligations. Deferred revenue, including current and non-current balances as of June 30, 2021 and March 31, 2021 were $875,838 and $965,331, respectively. For the three months ended June 30, 2021, the additions to our deferred revenue balance were due primarily to cash payments received or due in advance of satisfying our performance obligations, while the reductions to our deferred revenue balance were due primarily to the recognition of revenue upon fulfillment of our performance obligations, both of which were in the ordinary course of business. During the three months ended June 30, 2021 and 2020, $463,241 and $371,213, respectively, of revenue was recognized that was included in the deferred revenue balance at the beginning of the respective period. As of June 30, 2021, the aggregate amount of contract revenue allocated to unsatisfied performance obligations is $998,074, which includes our deferred revenue balances and amounts to be invoiced and recognized in future periods. We expect to recognize approximately $878,756 of this balance as revenue over the next 12 months, and the remainder thereafter. This balance does not include an estimate for variable consideration arising from sales-based royalty license revenue in excess of the contractual minimum guarantee. As of June 30, 2021 and March 31, 2021, our contract asset balances were $103,772 and $105,554, respectively, which are recorded within Prepaid expenses and other in our Condensed Consolidated Balance Sheets.

MANAGEMENT AGREEMENT

MANAGEMENT AGREEMENT	3 Months Ended
	Jun. 30, 2021
MANAGEMENT AGREEMENT
MANAGEMENT AGREEMENT	MANAGEMENT AGREEMENT In November 2017, we entered into a new management agreement (the "2017 Management Agreement"), with ZelnickMedia Corporation ("ZelnickMedia") that replaces our previous agreement with ZelnickMedia and pursuant to which ZelnickMedia provides financial and management consulting services to the Company through March 31, 2024. The 2017 Management Agreement became effective January 1, 2018. As part of the 2017 Management Agreement, Strauss Zelnick, the President of ZelnickMedia, continues to serve as Executive Chairman and Chief Executive Officer of the Company, and Karl Slatoff, a partner of ZelnickMedia, continues to serve as President of the Company. The 2017 Management Agreement provides for an annual management fee of $3,100 over the term of the agreement and a maximum annual bonus opportunity of $7,440 over the term of the agreement, based on the Company achieving certain performance thresholds. In consideration for ZelnickMedia's services, we recorded consulting expense (a component of General and administrative expenses) of $1,705 and $2,665 during the three months ended June 30, 2021 and 2020, respectively. We recorded stock-based compensation expense for restricted stock units granted to ZelnickMedia, which is included in General and administrative expenses, of $7,218 and $6,740 during the three months ended June 30, 2021 and 2020, respectively. In connection with the 2017 Management Agreement, we have granted restricted stock units to ZelnickMedia as follows: Three Months Ended June 30, 2021 2020 Time-based 51 79 Market-based(1) 93 145 Performance-based(1) IP 16 24 Recurrent Consumer Spending ("RCS") 16 24 Total—Performance-based 32 48 Total Restricted Stock Units 176 272 ______________________________________________________________________________ (1) Represents the maximum number of shares eligible to vest. Time-based restricted stock units granted in fiscal year 2022 will vest on April 13, 2023, and those granted in fiscal year 2021 will vest on April 13, 2022, in each case provided that the 2017 Management Agreement has not been terminated prior to such vesting date. Market-based restricted stock units granted in fiscal year 2022 are eligible to vest on April 13, 2023, and those granted in fiscal year 2021 are eligible to vest on April 13, 2022, in each case provided that the 2017 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. Performance-based restricted stock units granted in fiscal year 2022 are eligible to vest on April 13, 2023, and those granted in fiscal year 2021 are eligible to vest on April 13, 2022, in each case provided that the 2017 Management Agreement has not been terminated prior to such vesting date. The performance-based restricted stock units, of which 50% are tied to "IP" and 50% to "RCS" (as defined in the relevant grant agreement), are eligible to vest based on the Company's achievement of certain performance metrics (as defined in the relevant grant agreement) of either individual product releases of "IP" or "RCS" measured over a two-year period. The target number of performance-based restricted stock units that may be earned pursuant to these grants is equal to 50% of the grant amounts set forth in the above table (the numbers in the table represent the maximum number of performance-based restricted stock units that may be earned). At the end of each reporting period, we assess the probability of each performance metric and upon determination that certain thresholds are probable, we record expense for the unvested portion of the shares of performance-based restricted stock units. The unvested portion of time-based, market-based and performance-based restricted stock units held by ZelnickMedia were 449 and 588 as of June 30, 2021 and March 31, 2021, respectively. During the three months ended June 30, 2021, 315 restricted stock units previously granted to ZelnickMedia vested, and no restricted stock units were forfeited by ZelnickMedia.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Recurring fair value measurements The carrying amounts of our financial instruments, including cash and cash equivalents, restricted cash and cash equivalents, accounts receivable, prepaid expenses and other, 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, 2021 Quoted prices Significant Significant Balance Sheet Classification Money market funds $ 633,114 $ 633,114 $ — $ — Cash and cash equivalents Bank-time deposits 382,000 382,000 — — Cash and cash equivalents Commercial paper 17,980 — 17,980 — Cash and cash equivalents US Agencies 5,000 — 5,000 — Cash and cash equivalents Corporate bonds 1,001 — 1,001 — Cash and cash equivalents Corporate bonds 661,790 — 661,790 — Short-term investments Bank-time deposits 266,869 266,869 — — Short-term investments US Treasuries 55,489 55,489 — — Short-term investments Asset-backed securities 229 — 229 — Short-term investments Commercial paper 150,811 — 150,811 — Short-term investments Money market funds 642,912 642,912 — — Restricted cash and cash equivalents Bank-time deposits 557 557 — — Restricted cash and cash equivalents Money market funds 103,433 103,433 — — Long-term restricted cash and cash equivalents Private equity 9,670 — — 9,670 Other assets Foreign currency forward contracts (161) — (161) — Accrued expenses and other current liabilities Contingent earn-out consideration (28,294) — — (28,294) Accrued expenses and other current liabilities Contingent earn-out consideration (50,370) — — (50,370) Other long-term liabilities Total recurring fair value measurements, net $ 2,852,030 $ 2,084,374 $ 836,650 $ (68,994) March 31, 2021 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 $ 837,614 $ 837,614 $ — $ — Cash and cash equivalents Bank-time deposits 95,000 95,000 — — Cash and cash equivalents Commercial paper 100,105 — 100,105 — Cash and cash equivalents Corporate bonds — — — — Cash and cash equivalents Money market funds 528,659 528,659 — — Restricted cash and cash equivalents Bank-time deposits 563 563 — — Restricted cash and cash equivalents Corporate bonds 521,224 — 521,224 — Short-term investments Bank-time deposits 578,762 578,762 — — Short-term investments US Treasuries 60,086 60,086 — — Short-term investments Commercial paper 148,150 — 148,150 — Short-term investments Asset-backed securities 470 — 470 — Short-term investments Money market funds 98,541 98,541 — — Long-term restricted cash and cash equivalents Private equity 7,578 — — 7,578 Other assets Foreign currency forward contracts $ (125) $ — $ (125) $ — Accrued expenses and other current liabilities Total recurring fair value measurements, net $ 2,976,627 $ 2,199,225 $ 769,824 $ 7,578 In connection with the Nordeus acquisition (see Note 1 5 - Ac quisiti ons ), we recorded $78,664 as the initial fair value of contingent earn-out consideration. Due to the timing of the acquisition, the preliminary initial fair value was estimated using a simplified approach that had a limited number of scenarios and inputs, including projected financial information and relevant discount rates, which are considered significant unobservable Level 3 inputs. Subsequently, we will finalize our initial fair value using several scenarios and additional inputs, including market volatility. 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, 2021. Nonrecurring fair value measurements We hold equity investments in certain unconsolidated entities without a readily determinable fair value. These strategic investments represent less than a 20% ownership interest in each of the privately-held affiliates, and we do not maintain significant influence over or control of the entities. We have elected the practical expedient in Topic 321, Investments-Equity Securities , to measure these investments at cost less any impairment, adjusted for observable price changes, if any. Based on these considerations, we estimate that the carrying value of the acquired shares represents the fair value of the investment. At June 30, 2021, we held $20,000 of such investments in Other assets within our Condensed Consolidated Balance Sheet.

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	3 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
SHORT-TERM INVESTMENTS	SHORT-TERM INVESTMENTS Our Short-term investments consisted of the following: June 30, 2021 Gross Cost or Gains Losses Fair Value Short-term investments Bank time deposits $ 266,869 $ — $ — $ 266,869 Available-for-sale securities: Corporate bonds 661,327 713 (250) 661,790 US Treasuries 55,463 26 — 55,489 Asset-backed securities 229 — — 229 Commercial paper 150,811 — — 150,811 Total Short-term investments $ 1,134,699 $ 739 $ (250) $ 1,135,188 March 31, 2021 Gross Cost or Gains Losses Fair Value Short-term investments Bank time deposits $ 578,762 $ — $ — $ 578,762 Available-for-sale securities: Corporate bonds 520,486 994 (256) 521,224 US Treasuries 60,029 57 — 60,086 Asset-backed securities 469 1 — 470 Commercial paper 148,149 1 — 148,150 Total Short-term investments $ 1,307,895 $ 1,053 $ (256) $ 1,308,692 The following table summarizes the contracted maturities of our short-term investments at June 30, 2021: June 30, 2021 Amortized Fair Short-term investments Due in 1 year or less $ 892,200 $ 892,781 Due in 1 - 2 years 242,499 242,407 Total Short-term investments $ 1,134,699 $ 1,135,188

DERIVATIVE INSTRUMENTS AND HEDG

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	3 Months Ended
	Jun. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES	DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIESOur 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 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 Consolidated Statements of Cash Flows. Foreign currency forward contracts The following table shows the gross notional amounts of foreign currency forward contracts: June 30, 2021 March 31, 2021 Forward contracts to sell foreign currencies $ 64,463 $ 140,510 Forward contracts to purchase foreign currencies 105,830 92,123 For the three months ended June 30, 2021 and 2020, we recorded a loss of $1,828 and a loss of $2,657, respectively, related to foreign currency forward contracts in Interest and other, net in our Condensed Consolidated Statements of Operations. Our foreign currency exchange forward contracts 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, 2021
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory balances by category were as follows: June 30, 2021 March 31, 2021 Finished products $ 10,693 $ 16,941 Parts and supplies 798 801 Inventory $ 11,491 $ 17,742 Estimated product returns included in Inventory at June 30, 2021 and March 31, 2021 were $220 and $186, respectively.

SOFTWARE DEVELOPMENT COSTS AND

SOFTWARE DEVELOPMENT COSTS AND LICENSES	3 Months Ended
	Jun. 30, 2021
SOFTWARE DEVELOPMENT COSTS AND LICENSES
SOFTWARE DEVELOPMENT COSTS AND LICENSES	SOFTWARE DEVELOPMENT COSTS AND LICENSES Details of our capitalized software development costs and licenses were as follows: June 30, 2021 March 31, 2021 Current Non-current Current Non-current Software development costs, internally developed $ 7,055 $ 504,520 $ 22,225 $ 412,919 Software development costs, externally developed 3,014 95,966 7,349 75,086 Licenses 4,551 6,721 13,869 2,887 Software development costs and licenses $ 14,620 $ 607,207 $ 43,443 $ 490,892

ACCRUED EXPENSES AND OTHER CURR

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	3 Months Ended
	Jun. 30, 2021
Liabilities, Current [Abstract]
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES	ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following: June 30, 2021 March 31, 2021 Software development royalties $ 892,023 $ 814,998 Compensation and benefits 90,833 122,404 Licenses 82,087 84,330 Deferred acquisition payments 40,382 13,343 Refund liability 33,856 53,361 Marketing and promotions 26,237 32,591 Other 76,894 83,063 Accrued expenses and other current liabilities $ 1,242,312 $ 1,204,090

DEBT

DEBT	3 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Credit Agreement On February 8, 2019, we entered into an unsecured Credit Agreement, and on June 28, 2021, we amended our unsecured Credit Agreement solely to increase the commitments under the facility by $50,000 (as amended, the “Credit Agreement”) that runs through February 8, 2024. The Credit Agreement provides for an unsecured five-year revolving credit facility with commitments of $250,000, including sublimits for (i) the issuance of letters of credit in an aggregate face amount of up to $25,000 and (ii) borrowings and letters of credit denominated in Pounds Sterling, Euros, and Canadian Dollars in an aggregate principal amount of up to $25,000. In addition, the Credit Agreement contains uncommitted incremental capacity permitting the incurrence of up to an additional $200,000 in term loans or revolving credit facilities. Loans under the Credit Agreement will bear interest at a rate of (a) 0.250% to 0.750% above a certain base rate (3.25% at June 30, 2021) or (b) 1.125% to 1.750% above LIBOR (approximately 0.10% at June 30, 2021), which rates are determined by reference to our consolidated total net leverage ratio. We had no outstanding borrowings at June 30, 2021. Information related to availability on our Credit Agreement was as follows: June 30, 2021 March 31, 2021 Available borrowings $ 247,874 $ 197,874 Outstanding letters of credit 2,126 2,126 We recorded interest expense and fees related to the Credit Agreement of $145 and $82 for the three months ended June 30, 2021 and 2020, respectively. The Credit Agreement also includes, among other terms and conditions, maximum leverage ratio, minimum cash reserves and, in certain circumstances, minimum interest coverage ratio financial covenants, as well as limitations on us and each of our subsidiaries’ ability to create, incur, assume or be liable for indebtedness; dispose of assets outside the ordinary course; acquire, merge or consolidate with or into another person or entity; create, incur or allow any lien on any of its property; make investments; or pay dividends or make distributions, in each case subject to certain exceptions. In addition, the Credit Agreement provides for certain events of default such as nonpayment of principal and interest when due thereunder, breaches of representations and warranties, noncompliance with covenants, acts of insolvency and default on indebtedness held by third parties (subject to certain limitations and cure periods).

EARNINGS PER SHARE ("EPS")

EARNINGS PER SHARE ("EPS")	3 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE ("EPS")	EARNINGS PER SHARE ("EPS") The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended June 30, 2021 2020 Computation of Basic earnings per share: Net income $ 152,256 $ 88,505 Weighted average shares outstanding—basic 115,702 113,862 Basic earnings per share $ 1.32 $ 0.78 Computation of Diluted earnings per share: Net income $ 152,256 $ 88,505 Weighted average shares outstanding—basic 115,702 113,862 Add: dilutive effect of common stock equivalents 1,428 1,094 Weighted average common shares outstanding—diluted 117,130 114,956 Diluted earnings per share $ 1.30 $ 0.77 During the three months ended June 30, 2021, 943 restricted stock awards vested, we granted 893 unvested restricted stock awards, and 17 unvested restricted stock awards were forfeited.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Jun. 30, 2021
Equity [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, 2021 Foreign Unrealized Total Balance at March 31, 2021 $ (9,282) $ 618 $ (8,664) Other comprehensive income (loss) before reclassifications 6,132 (238) 5,894 Amounts reclassified from accumulated other comprehensive loss — — — Balance at June 30, 2021 $ (3,150) $ 380 $ (2,770) Three Months Ended June 30, 2020 Foreign Unrealized Unrealized Unrealized Total Balance at March 31, 2020 $ (60,535) $ 600 $ 4,305 $ (2,746) $ (58,376) Other comprehensive income (loss) before reclassifications 4,701 — (2,972) 5,849 7,578 Amounts reclassified from accumulated other comprehensive loss — — (1,333) — (1,333) Balance at June 30, 2020 $ (55,834) $ 600 $ — $ 3,103 $ (52,131)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIESWe 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, 2021, we did not have any significant changes to our commitments since March 31, 2021. Legal and Other Proceedings We are, or may become, subject to demands and claims (including intellectual property and employment related claims) and are involved in routine litigation in the ordinary course of business which we do not believe to be material to our business or financial condition or results of operations. We have appropriately accrued amounts related to certain of these claims and legal and other proceedings. While it is reasonably possible that a loss may be incurred in excess of the amounts accrued in our financial statements, we believe that such losses, unless otherwise disclosed, would not be material.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for income taxes for the three months ended June 30, 2021 is based on our projected annual effective tax rate for fiscal year 2022, adjusted for specific items that are required to be recognized in the period in which they are incurred. The provision for income taxes was $19,188 for the three months ended June 30, 2021, as compared to $1,856 for the prior year period. When compared to the statutory rate of 21%, the effective tax rate of 11.2% for the three months ended June 30, 2021 was due primarily to a tax benefit of $12,082 due to tax credits and excess tax benefits of $9,448 from employee stock-based compensation and the geographic mix of earnings. We are regularly examined by domestic and foreign taxing authorities. Examinations may result in tax assessments in excess of amounts claimed and the payment of additional taxes. We believe our tax positions comply with applicable tax law, and that we have adequately provided for reasonably foreseeable tax assessments. It is possible that settlement of audits or the expiration of the statute of limitations may have an impact on our effective tax rate in future periods.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Nordeus Acquisition On June 1, 2021, we completed the acquisition of 94.5% of Nordeus Limited ("Nordeus"), a privately-held Irish holding company of a Belgrade, Serbia based free-to-play mobile game developer, for consideration of $120,488 in cash, 515 shares of our common stock, and a contingent earn-out consideration arrangement that requires us to pay up to an aggregate of $153,000 in cash if Nordeus achieves certain performance measures over the 12- and 24-month periods following the closing. The cash portion was funded from our cash on hand. In addition to the shares we acquired, we have a call option to purchase the remaining 5.5% of the outstanding equity of Nordeus for cash consideration of $12,375 in September 2021. We are accounting for the call option as Non-controlling interest in our Condensed Statement of Stockholder's Equity. Income attributable to our Non-controlling interest for the three months ended June 30, 2021 is immaterial. We acquired Nordeus as part of our ongoing strategy to expand selectively our portfolio of owned intellectual property and to diversify and strengthen further our mobile offerings. The acquisition-date fair value of the consideration totaled $306,306, which consisted of the following: Fair value of purchase consideration Cash $ 120,488 Common stock (515 shares) 94,154 Call option 12,375 Contingent earn-out 78,664 Deferred payment 625 Total $ 306,306 The fair value of the contingent earn-out consideration arrangement at the acquisition date was $78,664. We estimated the fair value of the contingent earn-out consideration using a Monte Carlo simulation model. This fair value measurement is based on significant inputs not observable in the market and thus represents a Level 3 measurement as defined in ASC 820. (Refer to Note 4 - Fair Value Meas uremen ts .) As of June 30, 2021, there were no significant changes in the range of outcomes for the contingent earn-out consideration recognized as a result of the acquisition of Nordeus. We reported $28,294 within Accrued expenses and $50,370 within Other long-term liabilities in our Condensed Consolidated Balance Sheet. We used the acquisition method of accounting and recognized assets and liabilities at their fair value as of the date of acquisition, with the excess recorded to goodwill. The preliminary fair values of net tangible and intangible assets are management’s estimates based on the information available at the acquisition date and may change over the measurement period, which will end no later than one year from the acquisition date, as additional information is received. The following table summarizes the preliminary acquisition date fair value of net tangible and intangible assets acquired, net of liabilities assumed from Nordeus: Fair Value Weighted average useful life Cash acquired $ 22,600 N/A Other tangible assets 18,858 N/A Other liabilities assumed (38,690) N/A Intangible Assets Developed game technology 186,500 9 User base 3,200 1 Branding and trade names 3,200 8 Game engine technology 3,900 4 Goodwill 106,738 N/A Total $ 306,306 Goodwill, which is not deductible for U.S. income tax purposes, is primarily attributable to the assembled workforce of the acquired business and expected synergies at the time of the acquisition. The amounts of revenue and earnings of Nordeus included in our Condensed Consolidated Statement of Operations from the acquisition date are as follows: Three Months Ended June 30, 2021 Net revenue 1,936 Net loss 4,490 The following table summarizes the pro-forma consolidated results of operations (unaudited) for the three months ended June 30, 2021 and 2020, as though the acquisition had occurred on April 1, 2020, the beginning of fiscal year 2021, and Nordeus had been included in our consolidated results for the entire periods subsequent to that date. Three Months Ended June 30, 2021 2020 Pro forma Net revenue $ 823,190 $ 841,265 Pro forma Net income $ 154,436 $ 83,571 The unaudited pro-forma consolidated results above are based on the historical financial statements of the Company and Nordeus and not necessarily indicative of the results of operations that would have been achieved if the acquisition was completed at the beginning of fiscal year 2021 and are not indicative of the future operating results of the combined company. The financial information for Nordeus prior to the acquisition has been included in the pro-forma results of operations and includes certain adjustments to the historical consolidated financial statements of Nordeus to align with our accounting policies. The pro-forma consolidated results of operations also include the business combination accounting effects resulting from the acquisition, including amortization expense related to finite-lived intangible assets acquired and the related tax effects assuming that the business combination occurred on April 1, 2020. Transaction costs of $2,003 for the three months ended June 30, 2021, which have been recorded within General and administrative expense in our Condensed Consolidated Statements of Operations, have been excluded from the above pro-forma consolidated results of operations due to their non-recurring nature. Asset Acquisition In June 2021, we acquired two office buildings in the United Kingdom to use for office space for total cash consideration of $72,908. The transaction was treated as an asset acquisition, in which the cash consideration and direct transaction costs were allocated on a relative fair value basis to identified assets. The following table summarizes the acquisition date fair value of tangible assets, which are included within Fixed asset on our Condensed Consolidated Balance Sheets, and intangible assets, which are included within Intangible assets, net on our Condensed Consolidated Balance Sheets, acquired: Fair Value Weighted average useful life Building $ 31,104 30 Land 38,243 N/A Lease-in-place intangible asset 2,176 4 Total $ 71,523

BASIS OF PRESENTATION AND SIG_2

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2021
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 our opinion, 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 intercompany 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 ("U.S. GAAP") requires management to make estimates and assumptions that affect the amounts reported in these Condensed Consolidated Financial Statements and accompanying notes. As permitted under U.S. GAAP, interim accounting for certain expenses, including income taxes, are based on full year assumptions when appropriate. Actual results could differ materially from those estimates, including as a result of the COVID-19 pandemic, which may affect economic conditions in a number of different ways and result in uncertainty and risk. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted pursuant to the rules and regulations of the Securities and Exchange Commission ("SEC"), 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, 2021. Certain immaterial reclassifications have been made to prior period amounts to conform to the current period presentation.
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Accounting for Income Taxes In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which enhances and simplifies various aspects of the income tax accounting guidance, including requirements such as tax basis step-up in goodwill obtained in a transaction that is not a business combination, ownership changes in investments, and interim-period accounting for enacted changes in tax law. We adopted this update effective April 1, 2021. The adoption of this standard did not have a material impact on our Condensed Consolidated Financial Statements.

REVENUE FROM CONTRACTS WITH C_2

REVENUE FROM CONTRACTS WITH CUSTOMERS (Tables)	3 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Net Revenue by Product Platform	Net revenue by product revenue and service and other was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: Service and other $ 633,638 $ 532,050 Product 179,708 299,260 Total net revenue $ 813,346 $ 831,310 Net revenue by full game and other revenue and recurrent consumer spending was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: Recurrent consumer spending $ 572,266 $ 496,853 Full game and other 241,080 334,457 Total net revenue $ 813,346 $ 831,310 Net revenue by platform was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: Console $ 602,443 $ 611,685 PC and other 128,645 165,260 Mobile 82,258 54,365 Total net revenue $ 813,346 $ 831,310 Three Months Ended June 30, 2021 2020 Net revenue recognized: Digital online $ 740,806 $ 735,576 Physical retail and other 72,540 95,734 Total net revenue $ 813,346 $ 831,310
Net Revenue by Geographic Region	We attribute net revenue to geographic regions based on software product destination. Net revenue by geographic region was as follows: Three Months Ended June 30, 2021 2020 Net revenue recognized: United States $ 493,186 $ 470,490 International 320,160 360,820 Total net revenue $ 813,346 $ 831,310

MANAGEMENT AGREEMENT (Tables)

MANAGEMENT AGREEMENT (Tables)	3 Months Ended
	Jun. 30, 2021
MANAGEMENT AGREEMENT
Schedule of Restricted Stock Units Granted	In connection with the 2017 Management Agreement, we have granted restricted stock units to ZelnickMedia as follows: Three Months Ended June 30, 2021 2020 Time-based 51 79 Market-based(1) 93 145 Performance-based(1) IP 16 24 Recurrent Consumer Spending ("RCS") 16 24 Total—Performance-based 32 48 Total Restricted Stock Units 176 272 ______________________________________________________________________________ (1) Represents the maximum number of shares eligible to vest.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Jun. 30, 2021
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, 2021 Quoted prices Significant Significant Balance Sheet Classification Money market funds $ 633,114 $ 633,114 $ — $ — Cash and cash equivalents Bank-time deposits 382,000 382,000 — — Cash and cash equivalents Commercial paper 17,980 — 17,980 — Cash and cash equivalents US Agencies 5,000 — 5,000 — Cash and cash equivalents Corporate bonds 1,001 — 1,001 — Cash and cash equivalents Corporate bonds 661,790 — 661,790 — Short-term investments Bank-time deposits 266,869 266,869 — — Short-term investments US Treasuries 55,489 55,489 — — Short-term investments Asset-backed securities 229 — 229 — Short-term investments Commercial paper 150,811 — 150,811 — Short-term investments Money market funds 642,912 642,912 — — Restricted cash and cash equivalents Bank-time deposits 557 557 — — Restricted cash and cash equivalents Money market funds 103,433 103,433 — — Long-term restricted cash and cash equivalents Private equity 9,670 — — 9,670 Other assets Foreign currency forward contracts (161) — (161) — Accrued expenses and other current liabilities Contingent earn-out consideration (28,294) — — (28,294) Accrued expenses and other current liabilities Contingent earn-out consideration (50,370) — — (50,370) Other long-term liabilities Total recurring fair value measurements, net $ 2,852,030 $ 2,084,374 $ 836,650 $ (68,994) March 31, 2021 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 $ 837,614 $ 837,614 $ — $ — Cash and cash equivalents Bank-time deposits 95,000 95,000 — — Cash and cash equivalents Commercial paper 100,105 — 100,105 — Cash and cash equivalents Corporate bonds — — — — Cash and cash equivalents Money market funds 528,659 528,659 — — Restricted cash and cash equivalents Bank-time deposits 563 563 — — Restricted cash and cash equivalents Corporate bonds 521,224 — 521,224 — Short-term investments Bank-time deposits 578,762 578,762 — — Short-term investments US Treasuries 60,086 60,086 — — Short-term investments Commercial paper 148,150 — 148,150 — Short-term investments Asset-backed securities 470 — 470 — Short-term investments Money market funds 98,541 98,541 — — Long-term restricted cash and cash equivalents Private equity 7,578 — — 7,578 Other assets Foreign currency forward contracts $ (125) $ — $ (125) $ — Accrued expenses and other current liabilities Total recurring fair value measurements, net $ 2,976,627 $ 2,199,225 $ 769,824 $ 7,578

SHORT-TERM INVESTMENTS (Tables)

SHORT-TERM INVESTMENTS (Tables)	3 Months Ended
	Jun. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Short-Term Investments	Our Short-term investments consisted of the following: June 30, 2021 Gross Cost or Gains Losses Fair Value Short-term investments Bank time deposits $ 266,869 $ — $ — $ 266,869 Available-for-sale securities: Corporate bonds 661,327 713 (250) 661,790 US Treasuries 55,463 26 — 55,489 Asset-backed securities 229 — — 229 Commercial paper 150,811 — — 150,811 Total Short-term investments $ 1,134,699 $ 739 $ (250) $ 1,135,188 March 31, 2021 Gross Cost or Gains Losses Fair Value Short-term investments Bank time deposits $ 578,762 $ — $ — $ 578,762 Available-for-sale securities: Corporate bonds 520,486 994 (256) 521,224 US Treasuries 60,029 57 — 60,086 Asset-backed securities 469 1 — 470 Commercial paper 148,149 1 — 148,150 Total Short-term investments $ 1,307,895 $ 1,053 $ (256) $ 1,308,692
Summary of the Contracted Maturities of Short-Term Investments	The following table summarizes the contracted maturities of our short-term investments at June 30, 2021: June 30, 2021 Amortized Fair Short-term investments Due in 1 year or less $ 892,200 $ 892,781 Due in 1 - 2 years 242,499 242,407 Total Short-term investments $ 1,134,699 $ 1,135,188

DERIVATIVE INSTRUMENTS AND HE_2

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Jun. 30, 2021
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, 2021 March 31, 2021 Forward contracts to sell foreign currencies $ 64,463 $ 140,510 Forward contracts to purchase foreign currencies 105,830 92,123

INVENTORY (Tables)

INVENTORY (Tables)	3 Months Ended
	Jun. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory Balances by Category	Inventory balances by category were as follows: June 30, 2021 March 31, 2021 Finished products $ 10,693 $ 16,941 Parts and supplies 798 801 Inventory $ 11,491 $ 17,742

SOFTWARE DEVELOPMENT COSTS AN_2

SOFTWARE DEVELOPMENT COSTS AND LICENSES (Tables)	3 Months Ended
	Jun. 30, 2021
SOFTWARE DEVELOPMENT COSTS AND LICENSES
Schedule of Capitalized Software Development Costs and Licenses	Details of our capitalized software development costs and licenses were as follows: June 30, 2021 March 31, 2021 Current Non-current Current Non-current Software development costs, internally developed $ 7,055 $ 504,520 $ 22,225 $ 412,919 Software development costs, externally developed 3,014 95,966 7,349 75,086 Licenses 4,551 6,721 13,869 2,887 Software development costs and licenses $ 14,620 $ 607,207 $ 43,443 $ 490,892

ACCRUED EXPENSES AND OTHER CU_2

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Jun. 30, 2021
Liabilities, Current [Abstract]
Schedule of Components of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: June 30, 2021 March 31, 2021 Software development royalties $ 892,023 $ 814,998 Compensation and benefits 90,833 122,404 Licenses 82,087 84,330 Deferred acquisition payments 40,382 13,343 Refund liability 33,856 53,361 Marketing and promotions 26,237 32,591 Other 76,894 83,063 Accrued expenses and other current liabilities $ 1,242,312 $ 1,204,090

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Information Related to Availability on Credit Agreement	Information related to availability on our Credit Agreement was as follows: June 30, 2021 March 31, 2021 Available borrowings $ 247,874 $ 197,874 Outstanding letters of credit 2,126 2,126

EARNINGS PER SHARE ("EPS") (Tab

EARNINGS PER SHARE ("EPS") (Tables)	3 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted EPS	The following table sets forth the computation of basic and diluted earnings per share: Three Months Ended June 30, 2021 2020 Computation of Basic earnings per share: Net income $ 152,256 $ 88,505 Weighted average shares outstanding—basic 115,702 113,862 Basic earnings per share $ 1.32 $ 0.78 Computation of Diluted earnings per share: Net income $ 152,256 $ 88,505 Weighted average shares outstanding—basic 115,702 113,862 Add: dilutive effect of common stock equivalents 1,428 1,094 Weighted average common shares outstanding—diluted 117,130 114,956 Diluted earnings per share $ 1.30 $ 0.77

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Jun. 30, 2021
Equity [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, 2021 Foreign Unrealized Total Balance at March 31, 2021 $ (9,282) $ 618 $ (8,664) Other comprehensive income (loss) before reclassifications 6,132 (238) 5,894 Amounts reclassified from accumulated other comprehensive loss — — — Balance at June 30, 2021 $ (3,150) $ 380 $ (2,770) Three Months Ended June 30, 2020 Foreign Unrealized Unrealized Unrealized Total Balance at March 31, 2020 $ (60,535) $ 600 $ 4,305 $ (2,746) $ (58,376) Other comprehensive income (loss) before reclassifications 4,701 — (2,972) 5,849 7,578 Amounts reclassified from accumulated other comprehensive loss — — (1,333) — (1,333) Balance at June 30, 2020 $ (55,834) $ 600 $ — $ 3,103 $ (52,131)

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	3 Months Ended
	Jun. 30, 2021
Business Combination and Asset Acquisition [Abstract]
Schedule of Business Acquisitions, by Acquisition	The acquisition-date fair value of the consideration totaled $306,306, which consisted of the following: Fair value of purchase consideration Cash $ 120,488 Common stock (515 shares) 94,154 Call option 12,375 Contingent earn-out 78,664 Deferred payment 625 Total $ 306,306
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the preliminary acquisition date fair value of net tangible and intangible assets acquired, net of liabilities assumed from Nordeus: Fair Value Weighted average useful life Cash acquired $ 22,600 N/A Other tangible assets 18,858 N/A Other liabilities assumed (38,690) N/A Intangible Assets Developed game technology 186,500 9 User base 3,200 1 Branding and trade names 3,200 8 Game engine technology 3,900 4 Goodwill 106,738 N/A Total $ 306,306
Business Acquisition, Pro Forma Information	The amounts of revenue and earnings of Nordeus included in our Condensed Consolidated Statement of Operations from the acquisition date are as follows: Three Months Ended June 30, 2021 Net revenue 1,936 Net loss 4,490 The following table summarizes the pro-forma consolidated results of operations (unaudited) for the three months ended June 30, 2021 and 2020, as though the acquisition had occurred on April 1, 2020, the beginning of fiscal year 2021, and Nordeus had been included in our consolidated results for the entire periods subsequent to that date. Three Months Ended June 30, 2021 2020 Pro forma Net revenue $ 823,190 $ 841,265 Pro forma Net income $ 154,436 $ 83,571
Schedule of Asset Acquisition	The following table summarizes the acquisition date fair value of tangible assets, which are included within Fixed asset on our Condensed Consolidated Balance Sheets, and intangible assets, which are included within Intangible assets, net on our Condensed Consolidated Balance Sheets, acquired: Fair Value Weighted average useful life Building $ 31,104 30 Land 38,243 N/A Lease-in-place intangible asset 2,176 4 Total $ 71,523

REVENUE FROM CONTRACTS WITH C_3

REVENUE FROM CONTRACTS WITH CUSTOMERS - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Revenue from External Customer [Line Items]
Total net revenue	$ 813,346	$ 831,310
Service and other
Revenue from External Customer [Line Items]
Total net revenue	633,638	532,050
Product
Revenue from External Customer [Line Items]
Total net revenue	179,708	299,260
Recurrent consumer spending
Revenue from External Customer [Line Items]
Total net revenue	572,266	496,853
Full game and other
Revenue from External Customer [Line Items]
Total net revenue	241,080	334,457
Console
Revenue from External Customer [Line Items]
Total net revenue	602,443	611,685
PC and other
Revenue from External Customer [Line Items]
Total net revenue	128,645	165,260
Mobile
Revenue from External Customer [Line Items]
Total net revenue	82,258	54,365
Digital online
Revenue from External Customer [Line Items]
Total net revenue	740,806	735,576
Physical retail and other
Revenue from External Customer [Line Items]
Total net revenue	$ 72,540	$ 95,734

REVENUE FROM CONTRACTS WITH C_4

REVENUE FROM CONTRACTS WITH CUSTOMERS - Geographical (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Total net revenue	$ 813,346	$ 831,310
United States
Disaggregation of Revenue [Line Items]
Total net revenue	493,186	470,490
International
Disaggregation of Revenue [Line Items]
Total net revenue	$ 320,160	$ 360,820

REVENUE FROM CONTRACTS WITH C_5

REVENUE FROM CONTRACTS WITH CUSTOMERS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract with liability	$ 875,838		$ 965,331
Contract with liability recognized	463,241	$ 371,213
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining obligation	998,074
Contract asset	103,772		$ 105,554
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining obligation	$ 878,756
Remaining obligation period	12 months

MANAGEMENT AGREEMENT (Details)

MANAGEMENT AGREEMENT (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Nov. 30, 2017	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Restricted stock units
Management Agreement
Stock-based compensation expense for non-employee awards		$ 7,218	$ 6,740
2017 Management Agreement | Restricted Stock Awards
Management Agreement
Vested (in shares)		315,000
Forfeited (in shares)		0
2017 Management Agreement | Maximum | Restricted stock units
Management Agreement
Vesting requirement for market-based restricted stock		75th
Zelnick Media Corporation
Management Agreement
Consulting expense benefit		$ 1,705	$ 2,665
Zelnick Media Corporation | 2017 Management Agreement
Management Agreement
Annual management fee	$ 3,100
Measurement period		2 years
Zelnick Media Corporation | 2017 Management Agreement | Time-based
Management Agreement
Granted (in shares)		51,000	79,000
Zelnick Media Corporation | 2017 Management Agreement | Market-based
Management Agreement
Granted (in shares)		93,000	145,000
Zelnick Media Corporation | 2017 Management Agreement | Performance-based
Management Agreement
Granted (in shares)		32,000	48,000
Percentage of grants earned		50.00%
Zelnick Media Corporation | 2017 Management Agreement | IP
Management Agreement
Granted (in shares)		16,000	24,000
Zelnick Media Corporation | 2017 Management Agreement | Recurrent Consumer Spending ("RCS")
Management Agreement
Granted (in shares)		16,000	24,000
Zelnick Media Corporation | 2017 Management Agreement | Restricted stock units
Management Agreement
Granted (in shares)		176,000	272,000
Unvested portion of the shares of restricted stock granted (in shares)		449,000		588,000
Zelnick Media Corporation | 2017 Management Agreement | Market-based Restricted Stock
Management Agreement
Vesting requirement for market-based restricted stock		50th
Zelnick Media Corporation | 2017 Management Agreement | Maximum
Management Agreement
Bonus per fiscal year based on the achievement of certain performance thresholds	$ 7,440

FAIR VALUE MEASUREMENTS - Recur

FAIR VALUE MEASUREMENTS - Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Assets measured at fair value on a recurring basis
Short-term investments	$ 1,135,188	$ 1,308,692
Total recurring fair value measurements, net	2,852,030	2,976,627
Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	633,114	837,614
Restricted cash and cash equivalents	642,912	528,659
Long-term restricted cash and cash equivalents	103,433	98,541
Bank-time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	382,000	95,000
Restricted cash and cash equivalents	557	563
Short-term investments	266,869	578,762
Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	17,980	100,105
Short-term investments	150,811	148,150
US Agencies
Assets measured at fair value on a recurring basis
Cash and cash equivalents	5,000
Corporate bonds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	1,001	0
Short-term investments	661,790	521,224
US Treasuries
Assets measured at fair value on a recurring basis
Short-term investments	55,489	60,086
Asset-backed securities
Assets measured at fair value on a recurring basis
Short-term investments	229	470
Private equity
Assets measured at fair value on a recurring basis
Private equity	9,670	7,578
Foreign currency forward contracts
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	(161)	(125)
Contingent consideration, current	(28,294)
Contingent consideration, noncurrent	(50,370)
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	2,084,374	2,199,225
Quoted prices in active markets for identical assets (level 1) | Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	633,114	837,614
Restricted cash and cash equivalents	642,912	528,659
Long-term restricted cash and cash equivalents	103,433	98,541
Quoted prices in active markets for identical assets (level 1) | Bank-time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	382,000	95,000
Restricted cash and cash equivalents	557	563
Short-term investments	266,869	578,762
Quoted prices in active markets for identical assets (level 1) | Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Short-term investments	0	0
Quoted prices in active markets for identical assets (level 1) | US Agencies
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0
Quoted prices in active markets for identical assets (level 1) | Corporate bonds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Short-term investments	0	0
Quoted prices in active markets for identical assets (level 1) | US Treasuries
Assets measured at fair value on a recurring basis
Short-term investments	55,489	60,086
Quoted prices in active markets for identical assets (level 1) | Asset-backed securities
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Quoted prices in active markets for identical assets (level 1) | Private equity
Assets measured at fair value on a recurring basis
Private equity	0	0
Quoted prices in active markets for identical assets (level 1) | Foreign currency forward contracts
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	0	0
Contingent consideration, current	0
Contingent consideration, noncurrent	0
Significant other observable inputs (level 2)
Assets measured at fair value on a recurring basis
Total recurring fair value measurements, net	836,650	769,824
Significant other observable inputs (level 2) | Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Long-term restricted cash and cash equivalents	0	0
Significant other observable inputs (level 2) | Bank-time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Short-term investments	0	0
Significant other observable inputs (level 2) | Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	17,980	100,105
Short-term investments	150,811	148,150
Significant other observable inputs (level 2) | US Agencies
Assets measured at fair value on a recurring basis
Cash and cash equivalents	5,000
Significant other observable inputs (level 2) | Corporate bonds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	1,001	0
Short-term investments	661,790	521,224
Significant other observable inputs (level 2) | US Treasuries
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant other observable inputs (level 2) | Asset-backed securities
Assets measured at fair value on a recurring basis
Short-term investments	229	470
Significant other observable inputs (level 2) | Private equity
Assets measured at fair value on a recurring basis
Private equity	0	0
Significant other observable inputs (level 2) | Foreign currency forward contracts
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	(161)	(125)
Contingent consideration, current	0
Contingent consideration, noncurrent	0
Significant unobservable inputs (level 3)
Assets measured at fair value on a recurring basis
Total recurring fair value measurements, net	(68,994)	7,578
Significant unobservable inputs (level 3) | Money market funds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Long-term restricted cash and cash equivalents	0	0
Significant unobservable inputs (level 3) | Bank-time deposits
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Restricted cash and cash equivalents	0	0
Short-term investments	0	0
Significant unobservable inputs (level 3) | Commercial paper
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Short-term investments	0	0
Significant unobservable inputs (level 3) | US Agencies
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0
Significant unobservable inputs (level 3) | Corporate bonds
Assets measured at fair value on a recurring basis
Cash and cash equivalents	0	0
Short-term investments	0	0
Significant unobservable inputs (level 3) | US Treasuries
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant unobservable inputs (level 3) | Asset-backed securities
Assets measured at fair value on a recurring basis
Short-term investments	0	0
Significant unobservable inputs (level 3) | Private equity
Assets measured at fair value on a recurring basis
Private equity	9,670	7,578
Significant unobservable inputs (level 3) | Foreign currency forward contracts
Assets measured at fair value on a recurring basis
Foreign currency forward contracts	0	$ 0
Contingent consideration, current	(28,294)
Contingent consideration, noncurrent	$ (50,370)

FAIR VALUE MEASUREMENTS - Narra

FAIR VALUE MEASUREMENTS - Narrative (Details) - USD ($) $ in Thousands	Jun. 01, 2021	Jun. 30, 2021
Assets measured at fair value on a recurring basis
Investments in other assets		$ 20,000
Nordeus Limited
Assets measured at fair value on a recurring basis
Contingent earn-out	$ 78,664

SHORT-TERM INVESTMENTS - Schedu

SHORT-TERM INVESTMENTS - Schedule of Short-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	$ 1,134,699	$ 1,307,895
Gross Unrealized Gains	739	1,053
Gross Unrealized Losses	(250)	(256)
Fair Value	1,135,188	1,308,692
Bank-time deposits
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	266,869	578,762
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Fair Value	266,869	578,762
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	661,327	520,486
Gross Unrealized Gains	713	994
Gross Unrealized Losses	(250)	(256)
Fair Value	661,790	521,224
US Treasuries
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	55,463	60,029
Gross Unrealized Gains	26	57
Gross Unrealized Losses	0	0
Fair Value	55,489	60,086
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	229	469
Gross Unrealized Gains	0	1
Gross Unrealized Losses	0	0
Fair Value	229	470
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Cost or Amortized Cost	150,811	148,149
Gross Unrealized Gains	0	1
Gross Unrealized Losses	0	0
Fair Value	$ 150,811	$ 148,150

SHORT-TERM INVESTMENTS - Contra

SHORT-TERM INVESTMENTS - Contracted Maturities of Short-Term Investments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Debt Securities, Available-for-sale, Maturity, Amortized Cost, Rolling Maturity [Abstract]
Amortized cost, Due in 1 year or less	$ 892,200
Amortized cost, Due in 1-2 years	242,499
Cost or Amortized Cost	1,134,699	$ 1,307,895
Debt Securities, Available-for-sale, Maturity, Fair Value, Rolling Maturity [Abstract]
Fair value, Due in 1 year or less	892,781
Fair value, Due in 1-2 years	242,407
Total fair value	$ 1,135,188	$ 1,308,692

DERIVATIVE INSTRUMENTS AND HE_3

DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Forward contracts to sell foreign currencies	$ 64,463		$ 140,510
Forward contracts to purchase foreign currencies	105,830		$ 92,123
Derivative instrument not designated as hedging instruments, gain (loss), net	$ (1,828)	$ (2,657)

INVENTORY (Details)

INVENTORY (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Inventory Disclosure [Abstract]
Finished products	$ 10,693	$ 16,941
Parts and supplies	798	801
Inventory	11,491	17,742
Estimated product returns included in inventory	$ 220	$ 186

SOFTWARE DEVELOPMENT COSTS AN_3

SOFTWARE DEVELOPMENT COSTS AND LICENSES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	$ 14,620		$ 43,443
Software development costs and licenses, Non-current	607,207		490,892
Impairment of software development	9,771	$ 19,695
Software development costs, internally developed
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	7,055		22,225
Software development costs and licenses, Non-current	504,520		412,919
Software development costs, externally developed
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	3,014		7,349
Software development costs and licenses, Non-current	95,966		75,086
Licenses
Finite-Lived Intangible Assets [Line Items]
Software development costs and licenses, Current	4,551		13,869
Software development costs and licenses, Non-current	$ 6,721		$ 2,887

ACCRUED EXPENSES AND OTHER CU_3

ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021
Liabilities, Current [Abstract]
Software development royalties	$ 892,023	$ 814,998
Compensation and benefits	90,833	122,404
Licenses	82,087	84,330
Deferred acquisition payments	40,382	13,343
Refund liability	33,856	53,361
Marketing and promotions	26,237	32,591
Other	76,894	83,063
Accrued expenses and other current liabilities	$ 1,242,312	$ 1,204,090

DEBT (Details)

DEBT (Details) - USD ($)	Jun. 28, 2021	Feb. 08, 2019	Jun. 30, 2021	Jun. 30, 2020	Mar. 31, 2021
Credit Agreement
Credit Agreement
Increase in borrowing capacity	$ 50,000,000
Maximum borrowing capacity		$ 250,000,000
Debt term		5 years
Amount of additional borrowings by which maximum borrowing capacity may be increased		$ 200,000,000
Available borrowings			$ 247,874,000		$ 197,874,000
Outstanding letters of credit			2,126,000		$ 2,126,000
Interest expense and fees			145,000	$ 82,000
Letter of Credit
Credit Agreement
Maximum borrowing capacity		$ 25,000,000
New Credit Agreement
Credit Agreement
Outstanding borrowings			$ 0
New Credit Agreement | Base rate
Credit Agreement
Interest rate at end of period			3.25%
New Credit Agreement | Base rate | Minimum
Credit Agreement
Interest rate added to base rate			0.25%
New Credit Agreement | Base rate | Maximum
Credit Agreement
Interest rate added to base rate			0.75%
New Credit Agreement | LIBOR
Credit Agreement
Interest rate at end of period			0.10%
New Credit Agreement | LIBOR | Minimum
Credit Agreement
Interest rate added to base rate			1.125%
New Credit Agreement | LIBOR | Maximum
Credit Agreement
Interest rate added to base rate			1.75%

EARNINGS PER SHARE ("EPS") - Sc

EARNINGS PER SHARE ("EPS") - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Computation of Basic earnings per share:
Net income	$ 152,256	$ 88,505
Weighted average shares outstanding—basic (in shares)	115,702	113,862
Basic earnings per share (in dollars per share)	$ 1.32	$ 0.78
Computation of Diluted earnings per share:
Net income	$ 152,256	$ 88,505
Weighted average shares outstanding—basic (in shares)	115,702	113,862
Add: dilutive effect of common stock equivalents (in shares)	1,428	1,094
Weighted average common shares outstanding—diluted (in shares)	117,130	114,956
Diluted earnings per share (in dollars per share)	$ 1.30	$ 0.77

EARNINGS PER SHARE ("EPS") - Na

EARNINGS PER SHARE ("EPS") - Narrative (Details) - Restricted stock shares in Thousands	3 Months Ended
	Jun. 30, 2021shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Restricted stock awards, vested (in shares)	943
Restricted stock awards, granted (in shares)	893
Restricted stock awards, canceled (in shares)	17

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Changes in accumulated other comprehensive loss
Beginning balance	$ 3,331,892	$ 2,539,244
Other comprehensive income (loss) before reclassifications	5,894	7,578
Amounts reclassified from accumulated other comprehensive loss	0	(1,333)
Ending balance	3,631,307	2,651,028
Foreign currency translation adjustments
Changes in accumulated other comprehensive loss
Beginning balance	(9,282)	(60,535)
Other comprehensive income (loss) before reclassifications	6,132	4,701
Amounts reclassified from accumulated other comprehensive loss	0	0
Ending balance	(3,150)	(55,834)
Unrealized gain (loss) on forward contracts
Changes in accumulated other comprehensive loss
Beginning balance		600
Other comprehensive income (loss) before reclassifications		0
Amounts reclassified from accumulated other comprehensive loss		0
Ending balance		600
Unrealized gain (loss) on cross-currency swap
Changes in accumulated other comprehensive loss
Beginning balance		4,305
Other comprehensive income (loss) before reclassifications		(2,972)
Amounts reclassified from accumulated other comprehensive loss		(1,333)
Ending balance		0
Unrealized gain (loss) on available-for- sales securities
Changes in accumulated other comprehensive loss
Beginning balance	618	(2,746)
Other comprehensive income (loss) before reclassifications	(238)	5,849
Amounts reclassified from accumulated other comprehensive loss	0	0
Ending balance	380	3,103
Total
Changes in accumulated other comprehensive loss
Beginning balance	(8,664)	(58,376)
Ending balance	$ (2,770)	$ (52,131)

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Provision for income taxes	$ 19,188	$ 1,856
Effective rate	11.20%
Income tax rate reconciliation, tax credit	$ 12,082
Income tax rate reconciliation, employee stock-based compensation	$ 9,448

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) $ in Thousands	Jun. 01, 2021USD ($)	Jun. 30, 2021USD ($)office_building	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Business Acquisition [Line Items]
Cash paid for business acquisition			$ 97,887	$ 0
United Kingdom Office Space Asset Acquisition
Business Acquisition [Line Items]
Number of office buildings acquired | office_building		2
Cash consideration		$ 72,908
Nordeus Limited
Business Acquisition [Line Items]
Percentage of noncontrolling interest	5.50%
Nordeus Limited
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired	94.50%
Cash paid for business acquisition	$ 120,488
Business combination, contingent consideration arrangements, range of outcomes, value, high	153,000
Call option	12,375
Total	306,306
Contingent earn-out	$ 78,664
Contingent consideration, current		28,294	28,294
Contingent consideration, noncurrent		$ 50,370	50,370
Transaction costs			$ 2,003
Nordeus Limited | Performance Period One
Business Acquisition [Line Items]
Performance period	12 months
Nordeus Limited | Performance Period Two
Business Acquisition [Line Items]
Performance period	24 months

ACQUISITIONS - Schedule of Cons

ACQUISITIONS - Schedule of Consideration at Fair Value (Details) - USD ($) shares in Thousands, $ in Thousands	Jun. 01, 2021	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Cash		$ 97,887	$ 0
Deferred payment	$ 625
Nordeus Limited
Business Acquisition [Line Items]
Cash	120,488
Common stock (515 shares)	94,154
Call option	12,375
Contingent earn-out	78,664
Total	$ 306,306
Nordeus Limited | Common Stock
Business Acquisition [Line Items]
Issuance of common stock in connection with acquisition (in shares)	515

ACQUISITIONS - Schedule of Asse

ACQUISITIONS - Schedule of Assets and Liabilities Assumed (Details) - USD ($) $ in Thousands	Jun. 01, 2021	Jun. 30, 2021	Mar. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 106,738	$ 645,591	$ 535,306
Nordeus Limited
Business Acquisition [Line Items]
Cash acquired	22,600
Other tangible assets	18,858
Other liabilities assumed	(38,690)
Total	306,306
Nordeus Limited | Developed game technology
Business Acquisition [Line Items]
Intangible assets, excluding goodwill	$ 186,500
Weighted average useful life	9 years
Nordeus Limited | User base
Business Acquisition [Line Items]
Intangible assets, excluding goodwill	$ 3,200
Weighted average useful life	1 year
Nordeus Limited | Branding and trade names
Business Acquisition [Line Items]
Intangible assets, excluding goodwill	$ 3,200
Weighted average useful life	8 years
Nordeus Limited | Game engine technology
Business Acquisition [Line Items]
Intangible assets, excluding goodwill	$ 3,900
Weighted average useful life	4 years

ACQUISITIONS - Schedule of Reve

ACQUISITIONS - Schedule of Revenue and Earnings Included in Statement of Operations (Details) - Nordeus Limited $ in Thousands	3 Months Ended
	Jun. 30, 2021USD ($)
Business Acquisition [Line Items]
Net revenue	$ 1,936
Net loss	$ 4,490

ACQUISITIONS - Schedule of Pro

ACQUISITIONS - Schedule of Pro Forma Information (Details) - Nordeus Limited - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Business Acquisition [Line Items]
Pro forma Net revenue	$ 823,190	$ 841,265
Pro forma Net income	$ 154,436	$ 83,571

ACQUISITIONS - Schedule of As_2

ACQUISITIONS - Schedule of Asset Acquisition (Details) - United Kingdom Office Space Asset Acquisition $ in Thousands	1 Months Ended
	Jun. 30, 2021USD ($)
Asset Acquisition [Line Items]
Lease-in-place intangible asset	$ 2,176
Total	$ 71,523
Weighted average useful life	4 years
Building
Asset Acquisition [Line Items]
Property, plant and equipment, additions	$ 31,104
Weighted average useful life	30 years
Land
Asset Acquisition [Line Items]
Property, plant and equipment, additions	$ 38,243