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Restructuring, Impairment, and Related Charges, Net
 6 Months Ended
Sep. 30, 2022
Restructuring and Related Activities [Abstract]  
Restructuring, Impairment, and Related Charges Restructuring, Impairment, and Related Charges, NetThe Company recorded restructuring, impairment, and related charges, net of $30 million and $32 million for the three months ended September 30, 2022 and 2021, respectively, and $53 million and $190 million for the six months ended September 30, 2022 and 2021, respectively. These charges were included in “Restructuring, impairment, and related charges, net” in the Condensed Consolidated Statements of Operations.
Restructuring Initiatives
During the first quarter of fiscal 2022, the Company approved an initiative to increase operational efficiencies and flexibility by transitioning to a partial remote work model for certain employees. This initiative primarily included the rationalization of the Company’s office space in North America. Where the Company ceased using office space, it exited the portion of the facility no longer used. It also retained and repurposed certain other office locations. The Company recorded charges of $15 million and $110 million for the three and six months ended September 30, 2021, respectively, primarily related to lease right-of-use and other long-lived asset impairments, lease exit costs, and accelerated depreciation and amortization. This initiative was substantially complete in fiscal 2022 and remaining costs the Company recorded and expects to record under this initiative are not material.
Restructuring, impairment, and related charges, net, for the three months ended September 30, 2022 and 2021 consisted of the following:
Three Months Ended September 30, 2022
(In millions)U.S. PharmaceuticalPrescription Technology SolutionsMedical-Surgical Solutions
International
CorporateTotal
Severance and employee-related costs, net $— $— $— $2 $(5)$(3)
Exit and other-related costs (1)
— 1 1 6 14 22 
Asset impairments and accelerated depreciation3 6 — 1 1 11 
Total$3 $7 $1 $9 $10 $30 
(1)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.
Three Months Ended September 30, 2021
(In millions)
U.S. Pharmaceutical (1)
Prescription Technology SolutionsMedical-Surgical SolutionsInternational
Corporate (1)
Total
Severance and employee-related costs, net $— $(1)$1 $(2)$1 $(1)
Exit and other-related costs (2)
2 1 — 1 6 10 
Asset impairments and accelerated depreciation8 — 1 2 12 23 
Total$10 $— $2 $1 $19 $32 
(1)Includes costs related to the transition to a partial remote work model described above.
(2)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.
Restructuring, impairment, and related charges, net, for the six months ended September 30, 2022 and 2021 consisted of the following:
Six Months Ended September 30, 2022
(In millions)U.S. PharmaceuticalPrescription Technology SolutionsMedical-Surgical Solutions
International
CorporateTotal
Severance and employee-related costs, net $3 $— $— $2 $(6)$(1)
Exit and other-related costs (1)
1 3 2 8 29 43 
Asset impairments and accelerated depreciation3 11 — 1 (4)11 
Total$7 $14 $2 $11 $19 $53 
(1)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.
Six Months Ended September 30, 2021
(In millions)
U.S. Pharmaceutical (1)
Prescription Technology Solutions (1)
Medical-Surgical Solutions (1)
International (2)
Corporate (1)
Total
Severance and employee-related costs, net $2 $(1)$1 $10 $1 $13 
Exit and other-related costs (3)
4 2 2 15 27 50 
Asset impairments and accelerated depreciation16 17 5 36 53 127 
Total$22 $18 $8 $61 $81 $190 
(1)Includes costs related to the transition to a partial remote work model described above.
(2)Includes costs related to the transition to a partial remote work model described above, U.K. operating model and cost optimization efforts, and costs for optimization programs in Canada.
(3)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.
The following table summarizes the activity related to the liabilities associated with the Company’s restructuring initiatives for the six months ended September 30, 2022:
(In millions)U.S. PharmaceuticalPrescription Technology SolutionsMedical-Surgical SolutionsInternationalCorporateTotal
Balance, March 31, 2022 (1)
$11 $3 $1 $56 $59 $130 
Restructuring, impairment, and related charges, net7 14 2 11 19 53 
Non-cash charges(3)(11)— (1)4 (11)
Cash payments(3)(3)(2)(6)(25)(39)
Other (2)
(1)— — (24)1 (24)
Balance, September 30, 2022 (3)
$11 $3 $1 $36 $58 $109 
(1)As of March 31, 2022, the total reserve balance was $130 million, of which $58 million was recorded in “Other accrued liabilities,” $36 million was recorded in “Liabilities held for sale,” and $36 million was recorded in “Other non-current liabilities” in the Condensed Consolidated Balance Sheet.
(2)Other primarily includes cumulative translation adjustments and transfers to certain other liabilities. For the Company’s International segment, other also includes a reduction of the liability related to the sale of the U.K. disposal group in April 2022, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.”
(3)As of September 30, 2022, the total reserve balance was $109 million, of which $60 million was recorded in “Other accrued liabilities,” $22 million was recorded in “Liabilities held for sale,” and $27 million was recorded in “Other non-current liabilities” in the Condensed Consolidated Balance Sheet.