Debt and Financing Activities (Tables)

9 Months Ended

Dec. 31, 2021

Long-term debt consisted of the following:


(In millions)	December 31, 2021		March 31, 2021
U.S. Dollar notes (1) (2)
2.70% Notes due December 15, 2022	$	400	$	400
2.85% Notes due March 15, 2023	360		400
3.80% Notes due March 15, 2024	918		1,100
0.90% Notes due December 3, 2025	500		500
1.30% Notes due August 15, 2026	498		—
7.65% Debentures due March 1, 2027	150		167
3.95% Notes due February 16, 2028	343		600
4.75% Notes due May 30, 2029	196		400
6.00% Notes due March 1, 2041	217		282
4.88% Notes due March 15, 2044	255		411
Foreign currency notes (1) (3)
0.63% Euro Notes due August 17, 2021	—		704
1.50% Euro Notes due November 17, 2025	680		700
1.63% Euro Notes due October 30, 2026	568		587
3.13% Sterling Notes due February 17, 2029	618		627

Lease and other obligations (4)	253		270
Total debt	5,956		7,148
Less: Current portion	438		742
Total long-term debt	$	5,518	$	6,406

(1)These notes are unsecured and unsubordinated obligations of the Company.

(2)Interest on these notes is payable semi-annually.

(3)Interest on these foreign currency notes is payable annually.

(4)Excludes current and long-term debt of approximately $5 million and $12 million, respectively, as of December 31, 2021 related to the European divestiture activities discussed in more detail in Financial Note 2, “Held for Sale.” These amounts were included under the caption “Liabilities held for sale” in the Condensed Consolidated Balance Sheet as of December 31, 2021.