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Hedging Activities (Tables)

12 Months Ended

Mar. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Foreign Currency Gains and (Losses) from Non-Derivative Instruments

Foreign currency gains (losses) from non-derivative instruments included in other comprehensive income in the Consolidated Statements of Comprehensive Income were as follows:

			Years Ended March 31,
(In millions)			2025						2024						2023
Non-derivatives designated as net investment hedges: (1)
Euro-denominated notes (2)			$	—					$	—					$	7

(1)There was no ineffectiveness in these hedges for the year ended March 31, 2023.

(2)Includes amounts reclassified to earnings of $112 million for the year ended March 31, 2023.

Schedule of Notional Amounts of Outstanding Derivative Positions

At March 31, 2025 and 2024, the notional amounts of the Company’s outstanding derivatives were as follows:

															March 31, 2025						March 31, 2024
(In millions)			Currency						Maturity Date (1)						Notional
Derivatives designated as net investment hedges: (2)
Cross-currency swaps (3)			CAD						Dec-26 to Mar-27						C$	6,500					C$	1,500
Derivatives designated as fair value hedges: (2)
Cross-currency swaps (3)			GBP						Nov-28						£	450					£	450
Cross-currency swaps (3)			EUR						Aug-25 to Jul-26						€	1,100					€	1,100
Floating interest rate swaps (4)			USD						Aug-27 to Sep-29						$	750					$	1,250
Derivatives designated as cash flow hedges: (2)
Foreign currency forwards (5)			GBP						Apr-25 to Jul-25						£	11					£	39
Interest rate swap locks (6)			USD						Aug-30 to Aug-35						$	850					$	—

(1)The maturity date reflected is for outstanding derivatives as of March 31, 2025.

(2)There was no ineffectiveness in these hedges for the years ended March 31, 2025, 2024, and 2023.

(3)Represents cross-currency fixed-to-fixed interest rate swaps to mitigate the foreign currency exchange fluctuations on its foreign currency-denominated notes.

(4)Represents fixed-to-floating interest rate swaps to hedge the changes in fair value caused by fluctuations in the benchmark interest rates.

(5)The Company entered into agreements with financial institutions to hedge the variability of foreign currency exchange fluctuations in future cash payments due to a third party in the United Kingdom for capital expenditures.

(6)The Company entered into agreements with financial institutions in the fourth quarter of fiscal 2025 to hedge cash flows associated with interest payments on upcoming financing activities.

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

Gains (losses) from derivatives included in other comprehensive income in the Consolidated Statements of Comprehensive Income were as follows:

			Years Ended March 31,
(In millions)			2025						2024						2023
Derivatives designated as net investment hedges:
Cross-currency swaps			$	80					$	3					$	28
Derivatives designated as cash flow and other hedges:
Cross-currency swaps (1)			$	(4)					$	39					$	(54)
Interest rate swap locks, Foreign currency forwards and Other			(6)						—						—
Fixed interest rate swaps			—						14						(30)

(1)Includes other comprehensive income related to the excluded component of certain fair value hedges.

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)

Gains (losses) from derivatives included in other comprehensive income in the Consolidated Statements of Comprehensive Income were as follows:

			Years Ended March 31,
(In millions)			2025						2024						2023
Derivatives designated as net investment hedges:
Cross-currency swaps			$	80					$	3					$	28
Derivatives designated as cash flow and other hedges:
Cross-currency swaps (1)			$	(4)					$	39					$	(54)
Interest rate swap locks, Foreign currency forwards and Other			(6)						—						—
Fixed interest rate swaps			—						14						(30)

(1)Includes other comprehensive income related to the excluded component of certain fair value hedges.

Schedule of Information Regarding Fair Value of Derivatives on a Gross Basis

Information regarding the fair value of derivatives on a gross basis were as follows:

			Balance Sheet Caption			March 31, 2025																		March 31, 2024
						Fair Value of Derivative												U.S. Dollar Notional						Fair Value of Derivative												U.S. Dollar Notional
(In millions)						Asset						Liability												Asset						Liability
Derivatives designated for hedge accounting:
Cross-currency swaps (current)			Prepaid expenses and other/Other accrued liabilities			$	54					$	—					$	595					$	13					$	1					$	1,122
Cross-currency swaps (non-current)			Other non-current assets/liabilities			66						18						5,550						108						—						1,638
Interest rate swaps (non-current)			Other non-current liabilities			—						18						750						—						35						1,250
Interest Rate Swap Locks			Other non-current liabilities			—						6						850						—						—						—
Foreign currency forwards (current)			Prepaid expenses and other			1						—						14						—						—						35
Foreign currency forwards (non-current)			Other non-current liabilities			—						—						—						—						—						15
Total						$	121					$	42											$	121					$	36

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