Income Taxes |
9 Months Ended |
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Dec. 31, 2021 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | Income Taxes
Our effective income tax rate, after discrete tax events, was a 32.2% provision against income before taxes for the nine months ended December 31, 2021 and a benefit of 56.1% against income before taxes for the nine months ended December 31, 2020. During the nine months ended December 31, 2021, the Company recorded a discrete tax expense of $301 related to withholding taxes on an intercompany dividend from Canada to the United States in relation to the Amended and Restated Debt Agreement. Refer to Note 8, "Long-Term Debt." Also, during the nine months ended December 31, 2021, the Company recorded a discrete tax expense of $430 related to a change in withholding tax rates in its Russian subsidiary. Excluding the impact of withholding taxes in Canada and Russia and other discrete items, the Company estimates that the effective tax rate will be 26.1% for fiscal year 2022. The estimated effective income tax rate represents the weighted average of the estimated tax expense over our global income before tax. During the nine months ended December 31, 2020, we had a discrete tax benefit totaling $1,854 million related to updated Internal Revenue Service rules regarding the United States Global Intangible low-taxed income or ("GILTI tax") and related tax planning elections.
As of December 31, 2021, we have established a long-term liability for uncertain tax positions in the amount of $865. As of December 31, 2021, the tax years for the fiscal years ended March 31, 2016 through March 31, 2021 remain open to examination by the major taxing jurisdictions to which we are subject.
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