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Goodwill and Intangible Assets, Net (Tables) | 12 Months Ended
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Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of changes in the carrying amount of goodwill | Changes in the carrying amount of goodwill were as follows:
(In millions) | U.S. Pharmaceutical |  | International |  | Medical-Surgical Solutions |  | Prescription Technology Solutions |  | Total
Balance, March 31, 2019 | $ | 3,935 |  |  | $ | 1,446 |  |  | $ | 2,451 |  |  | $ | 1,526 |  |  | $ | 9,358 |
Goodwill acquired | — |  |  | 62 |  |  | — |  |  | 14 |  |  | 76 |
Acquisition accounting, transfers and other adjustments | 1 |  |  | 4 |  |  | 7 |  |  | — |  |  | 12 |
Other changes/disposals | (1) |  |  | — |  |  | (5) |  |  | — |  |  | (6) |
Impairment charges | — |  |  | (2) |  |  | — |  |  | — |  |  | (2) |
Foreign currency translation adjustments, net | (11) |  |  | (67) |  |  | — |  |  | — |  |  | (78) |
Balance, March 31, 2020 | 3,924 |  |  | 1,443 |  |  | 2,453 |  |  | 1,540 |  |  | 9,360 |
Goodwill acquired | — |  |  | 5 |  |  | — |  |  | — |  |  | 5 |
Acquisition accounting, transfers and other adjustments | — |  |  | — |  |  | — |  |  | 2 |  |  | 2 |
Other changes/disposals | (1) |  |  | — |  |  | — |  |  | — |  |  | (1) |
Impairment charges | — |  |  | (69) |  |  | — |  |  | — |  |  | (69) |
Foreign currency translation adjustments, net | 40 |  |  | 156 |  |  | — |  |  | — |  |  | 196 |
Balance, March 31, 2021 | $ | 3,963 |  |  | $ | 1,535 |  |  | $ | 2,453 |  |  | $ | 1,542 |  |  | $ | 9,493 |
The impairment testing performed in 2019 resulted in the following impairment charges:
(In millions, except rates) |  |  |  |  |  |  |  |  |
Quarter Ended |  | Reporting Unit |  | Segment (1) |  | Discount Rate |  | Terminal Growth Rate |  | Goodwill Impairment (2) |
June 2018 |  | Pharmaceutical Distribution |  | International |  | 8.0 | % |  | 1.25 | % |  | $ | 238 |  | (3)
June 2018 |  | Retail Pharmacy |  | International |  | 8.5 | % |  | 1.25 | % |  | 251 |  | (4)
June 2018 |  | Pharmaceutical Distribution |  | International |  | 8.0 | % |  | 1.25 | % |  | 81 |  | (4)
March 2019 |  | Retail Pharmacy |  | International |  | 10.0 | % |  | 1.25 | % |  | 465 |  | (5)
March 2019 |  | Pharmaceutical Distribution |  | International |  | 9.0 | % |  | 1.25 | % |  | 741 |  | (5)
|  |  |  | Total |  |  |  |  |  | $ | 1,776 |  |
(1)As described above, the Company implemented its new segment reporting structure in the second quarter of 2021 and its European Pharmaceutical Solutions segment and its Rexall Health business in Canada became part of the International segment. Amounts included herein were previously included within the former European Pharmaceutical Solutions segment. (2)Represents pre-tax and after-tax amounts, except for an aggregate $20 million of tax charges related to the March 2019 Retail Pharmacy impairment. Total goodwill impairment for 2019 also included $21 million related to the Company’s Rexall Health business, within the International segment, recorded in the third quarter of 2019. (3)Prior to implementing its new segment reporting structure in the first quarter of 2019, the Company’s European operations were considered a single reporting unit. Following the change in reportable segments, its European Pharmaceutical Solutions segment was divided into two distinct reporting units, Retail Pharmacy (“RP”), formerly Consumer Solutions, and Pharmaceutical Distribution (“PD”), formerly Pharmacy Solutions, for the purposes of goodwill impairment testing. This change required performance of a goodwill impairment test for these two new reporting units which resulted in a goodwill impairment charge as PD’s estimated fair value was lower than its reassigned carrying value. (4)Both RP and PD projected a decline in the estimated future cash flows primarily triggered by U.K. government actions which were announced on June 29, 2018. An interim goodwill impairment test for these reporting units identified that their carrying values exceeded their estimated fair value and resulted in an impairment charge. (5)As a result of the annual goodwill impairment test, the carrying values of the PD and RP reporting units exceeded their estimated fair value which required the Company to record impairment charges for the reporting units. These additional impairments were primarily due to declines in the reporting units’ estimated future cash flows and the selection of higher discount rates. The declines in estimated future cash flows were primarily attributed to additional government reimbursement reductions and competitive pressures within the U.K. The risk of successfully achieving certain business initiatives was the primary factor in the use of a higher discount rate. As of March 31, 2019 the entire remaining goodwill balances of both reporting units were impaired.
Schedule of information regarding intangible assets | Information regarding intangible assets is as follows:
| March 31, 2021 |  | March 31, 2020
(Dollars in millions) | Weighted- Average Remaining Amortization Period (Years) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | 12 |  | $ | 3,739 |  |  | $ | (2,269) |  |  | $ | 1,470 |  |  | $ | 3,650 |  |  | $ | (1,950) |  |  | $ | 1,700 |
Service agreements | 10 |  | 1,081 |  |  | (513) |  |  | 568 |  |  | 994 |  |  | (480) |  |  | 514 |
Pharmacy licenses | 23 |  | 497 |  |  | (244) |  |  | 253 |  |  | 492 |  |  | (232) |  |  | 260 |
Trademarks and trade names | 12 |  | 925 |  |  | (394) |  |  | 531 |  |  | 808 |  |  | (242) |  |  | 566 |
Technology | 4 |  | 150 |  |  | (122) |  |  | 28 |  |  | 175 |  |  | (111) |  |  | 64 |
Other | 6 |  | 254 |  |  | (226) |  |  | 28 |  |  | 273 |  |  | (221) |  |  | 52 |
Total |  |  | $ | 6,646 |  |  | $ | (3,768) |  |  | $ | 2,878 |  |  | $ | 6,392 |  |  | $ | (3,236) |  |  | $ | 3,156 |

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