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Business Acquisitions and Divestitures (Tables)
 12 Months Ended
Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract]  
Identified Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary purchase price allocation for this acquisition:
(In millions)Amounts Recognized
as of Acquisition Date
Purchase consideration:
Cash$600 
Contingent consideration92 
Total purchase consideration$692 
Identifiable assets acquired and liabilities assumed:
Current assets$5 
Intangible assets229 
Other non-current assets3 
Current liabilities(8)
Total identifiable net assets229 
Goodwill463 
Net assets acquired$692 
The following table summarizes the preliminary purchase price allocation for this acquisition:
(In millions)Amounts Recognized
as of Acquisition Date
Purchase consideration:
Cash$173 
Contribution of USOR40 
Total purchase consideration$213 
Identifiable assets acquired and liabilities assumed:
Receivables$224 
Property, plant, and equipment22 
Operating lease right-of-use assets31 
Intangible assets177 
Current liabilities(42)
Long-term operating lease liabilities(29)
Other non-current liabilities(43)
Total identifiable net assets340 
Noncontrolling interest(225)
Additional paid-in capital(22)
Goodwill120 
Net assets acquired$213 
Assets and Liabilities Held for Sale
The total assets and liabilities of the E.U. disposal group that met the classification of held for sale in the Company’s Consolidated Balance Sheet at March 31, 2022 were as follows:
(In millions)March 31, 2022
Assets
Current assets
Receivables, net$1,322 
Inventories, net809 
Prepaid expenses and other72 
Property, plant, and equipment, net304 
Operating lease right-of-use assets224 
Intangible assets, net267 
Other non-current assets328 
Remeasurement of assets of businesses held for sale to fair value less costs to sell (1)
(302)
Total assets held for sale$3,024 
Liabilities
Current liabilities
Drafts and accounts payable$1,826 
Current portion of long-term debt4 
Current portion of operating lease liabilities33 
Other accrued liabilities473 
Long-term debt11 
Long-term deferred tax liabilities55 
Long-term operating lease liabilities180 
Other non-current liabilities138 
Total liabilities held for sale$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 Consolidated Balance Sheet at March 31, 2022 were as follows:
(In millions)March 31, 2022
Assets
Current assets
Cash and cash equivalents$531 
Receivables, net931 
Inventories, net563 
Prepaid expenses and other50 
Property, plant, and equipment, net91 
Operating lease right-of-use assets270 
Intangible assets, net117 
Other non-current assets88 
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 liabilities50 
Other accrued liabilities59 
Long-term deferred tax liabilities16 
Long-term operating lease liabilities262 
Other non-current liabilities38 
Total liabilities held for sale$2,018