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Restructuring, Impairment, and Related Charges, Net (Tables)

12 Months Ended

Mar. 31, 2023

Restructuring and Related Activities [Abstract]

Summary of details for charges recorded

Restructuring, impairment, and related charges, net for the year ended March 31, 2023 consisted of the following:

			Year Ended March 31, 2023
(In millions)			U.S. Pharmaceutical (1)						Prescription Technology Solutions (1)						Medical-Surgical Solutions						International						Corporate (1)						Total
Severance and employee-related costs, net			$	6					$	23					$	2					$	4					$	—					$	35
Exit and other-related costs (2)			7						7						3						21						64						102
Asset impairments and accelerated depreciation			25						13						5						10						19						72
Total			$	38					$	43					$	10					$	35					$	83					$	209

(1)Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s technology solutions.

(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. Corporate includes costs for business transformation and optimization efforts related to the Company’s technology organization. The International segment includes costs related to the Company’s European divestitures.

Fiscal 2022

Restructuring, impairment, and related charges, net for the year ended March 31, 2022 consisted of the following:

			Year Ended March 31, 2022
(In millions)			U.S. Pharmaceutical						Prescription Technology Solutions						Medical-Surgical Solutions						International						Corporate						Total
Severance and employee-related costs, net			$	8					$	1					$	(1)					$	8					$	(7)					$	9
Exit and other-related costs (1)			9						4						5						33						46						97
Asset impairments and accelerated depreciation (2)			18						20						5						35						61						139
Total			$	35					$	25					$	9					$	76					$	100					$	245

(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. For the Company’s International segment, costs primarily relate to optimization programs in Canada, exit-related actions for the Company’s European Divestiture Activities, and programs for operating model and cost optimization efforts in the U.K. as described above. For Corporate, primarily represents costs related to the transition to the partial remote work model described above and various other initiatives.

(2)Costs primarily relate to the transition to the partial remote work model described above.

Fiscal 2021

Restructuring, impairment, and related charges, net for the year ended March 31, 2021 consisted of the following:

			Year Ended March 31, 2021
(In millions)			U.S. Pharmaceutical						Prescription Technology Solutions						Medical-Surgical Solutions						International (1)						Corporate (2)						Total
Severance and employee-related costs, net			$	10					$	4					$	(1)					$	22					$	69					$	104
Exit and other-related costs (3)			11						—						4						17						27						59
Asset impairments and accelerated depreciation			—						—						1						46						9						56
Total			$	21					$	4					$	4					$	85					$	105					$	219

(1)Primarily represents costs associated with the operating model and cost optimization efforts described above.

(2)Represents costs associated with the operating model cost optimization efforts and the relocation of the Company’s headquarters described above in addition to various other initiatives.

(3)Exit and other-related costs primarily include project consulting fees.

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes the activity related to the restructuring liabilities associated with the Company’s restructuring initiatives for the years ended March 31, 2023 and 2022:

(In millions)			U.S. Pharmaceutical						Prescription Technology Solutions						Medical-Surgical Solutions						International						Corporate						Total
Balance, March 31, 2021			$	19					$	4					$	3					$	66					$	59					$	151
Restructuring, impairment, and related charges, net			35						25						9						76						100						245
Non-cash charges			(18)						(20)						(5)						(35)						(61)						(139)
Cash payments			(18)						(6)						(6)						(28)						(29)						(87)
Other (1)			(7)						—						—						(23)						(10)						(40)
Balance, March 31, 2022 (2)			11						3						1						56						59						130
Restructuring, impairment, and related charges, net			38						43						10						35						83						209
Non-cash charges			(25)						(13)						(5)						(10)						(19)						(72)
Cash payments			(9)						(7)						(3)						(10)						(86)						(115)
Other (1)			—						—						—						(58)						(2)						(60)
Balance, March 31, 2023 (3)			$	15					$	26					$	3					$	13					$	35					$	92

(1)    Other primarily includes cumulative translation adjustments and transfers to certain other liabilities. For the Company’s International segment, other also includes a reduction to the liability for the divestitures of the E.U. disposal group and the U.K. disposal group in fiscal 2023, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.”

(2)    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 Company’s Consolidated Balance Sheets.

(3)    As of March 31, 2023, the total reserve balance was $92 million, of which $66 million was recorded in “Other accrued liabilities” and $26 million was recorded in “Other non-current liabilities” in the Company’s Consolidated Balance Sheets.

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
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Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
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-Section S99
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