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v3.22.2.2

Business Acquisitions and Divestitures (Tables) | 6 Months Ended
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Sep. 30, 2022
Discontinued Operations and Disposal Groups [Abstract] |
Assets and Liabilities Held for Sale | The total assets and liabilities of the E.U. disposal group that have met the classification of held for sale in the Company’s Condensed Consolidated Balance Sheets are as follows:
(In millions) | September 30, 2022 |  | March 31, 2022
Assets |  |  |
Current assets |  |  |
Receivables, net | $ | 1,175 |  |  | $ | 1,322 |
Inventories, net | 810 |  |  | 809 |
Prepaid expenses and other | 68 |  |  | 72 |
Property, plant, and equipment, net | 278 |  |  | 304 |
Operating lease right-of-use assets | 206 |  |  | 224 |
Intangible assets, net | 236 |  |  | 267 |
Other non-current assets | 297 |  |  | 328 |
Remeasurement of assets of businesses held for sale to fair value less costs to sell (1) | (245) |  |  | (302) |
Total assets held for sale | $ | 2,825 |  |  | $ | 3,024 |
Liabilities |  |  |
Current liabilities |  |  |
Drafts and accounts payable | $ | 1,258 |  |  | $ | 1,826 |
Current portion of long-term debt | 4 |  |  | 4 |
Current portion of operating lease liabilities | 28 |  |  | 33 |
Other accrued liabilities | 360 |  |  | 473 |
Long-term debt | 10 |  |  | 11 |
Long-term deferred tax liabilities | 64 |  |  | 55 |
Long-term operating lease liabilities | 153 |  |  | 180 |
Other non-current liabilities | 114 |  |  | 138 |
Total liabilities held for sale | $ | 1,991 |  |  | $ | 2,720 |
(1)Excludes charges in fiscal 2022 related to the impairment of individual assets, including a $113 million impairment of internally developed software recorded directly against the gross value of the assets impacted. The total assets and liabilities of the U.K. disposal group that met the classification of held for sale in the Company’s Condensed Consolidated Balance Sheet at March 31, 2022 were as follows:
(In millions) | March 31, 2022
Assets |
Current assets |
Cash and cash equivalents | $ | 531 |
Receivables, net | 931 |
Inventories, net | 563 |
Prepaid expenses and other | 50 |
Property, plant, and equipment, net | 91 |
Operating lease right-of-use assets | 270 |
Intangible assets, net | 117 |
Other non-current assets | 88 |
Remeasurement of assets of businesses held for sale to fair value less costs to sell | (1,159) |
Total assets held for sale | $ | 1,482 |
Liabilities |
Current liabilities |
Drafts and accounts payable | $ | 1,593 |
Current portion of operating lease liabilities | 50 |
Other accrued liabilities | 59 |
Long-term deferred tax liabilities | 16 |
Long-term operating lease liabilities | 262 |
Other non-current liabilities | 38 |
Total liabilities held for sale | $ | 2,018 |

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