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Leases
 12 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
Lessee
Supplemental balance sheet information related to leases was as follows:
March 31,
(In millions, except lease term and discount rate)20262025
Operating leases
Operating lease right-of-use assets $2,058 $1,782 
Current portion of operating lease liabilities$287 $258 
Long-term operating lease liabilities1,801 1,478 
Total operating lease liabilities $2,088 $1,736 
Finance leases
Property, plant, and equipment, net$137 $177 
Current portion of long-term debt$37 $32 
Long-term debt152 163 
Total finance lease liabilities$189 $195 
Weighted-average remaining lease term (years)
Operating leases8.08.0
Finance leases5.56.3
Weighted-average discount rate
Operating leases4.17 %4.11 %
Finance leases3.45 %3.27 %
The components of lease cost were as follows:
Years Ended March 31,
(In millions)202620252024
Short-term lease cost$8 $8 $14 
Operating lease cost433 418 418 
Finance lease cost:
Amortization of right-of-use assets31 30 25 
Interest on lease liabilities7 7 5 
Total finance lease cost 38 37 30 
Variable lease cost (1)
147 139 131 
Sublease income(44)(36)(35)
Total lease cost (2)
$582 $566 $558 
(1)    These amounts include payments for maintenance, taxes, payments affected by the consumer price index, and other similar metrics and payments contingent on usage.
(2)    These amounts were primarily recorded in “Selling, distribution, general, and administrative expenses” in the Consolidated Statements of Operations.
Supplemental cash flow information related to leases was as follows:
Years Ended March 31,
(In millions)202620252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(270)$(404)$(339)
Operating cash flows from finance leases— — (1)
Financing cash flows from finance leases(36)(39)(47)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$699 
(1)
$599 $391 
Finance leases34 18 21 
(1)Increase in fiscal 2026 due to addition of leases from the Core Ventures and PRISM Vision acquisitions, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.”
Maturities of lease liabilities as of March 31, 2026 were as follows:
(In millions)Operating LeasesFinance LeasesTotal
Fiscal 2027$364 $41 $405 
Fiscal 2028352 42 394 
Fiscal 2029315 39 354 
Fiscal 2030286 30 316 
Fiscal 2031244 24 268 
Thereafter916 32 948 
Total lease payments (1)
2,477 208 2,685 
Less imputed interest(389)(19)(408)
Present value of lease liabilities$2,088 $189 $2,277 
(1)Total lease payments are not reduced by future minimum sublease income of $219 million, which is due under noncancellable subleases.
As of March 31, 2026, the Company entered into additional leases primarily for facilities that have not yet commenced with future lease payments of $46 million that are not reflected in the table above. These operating leases will commence in calendar year 2026 with noncancellable lease terms of three to 10 years.
Lessor
The Company leases certain owned equipment, classified as direct financing or sales-type leases, to physician practices. As of March 31, 2026 and 2025, the total lease receivable was $503 million and $419 million, respectively, with a weighted-average remaining lease term of approximately eight years. Interest income from these leases was not material for the years ended March 31, 2026, 2025, and 2024.
Leases Leases
Lessee
Supplemental balance sheet information related to leases was as follows:
March 31,
(In millions, except lease term and discount rate)20262025
Operating leases
Operating lease right-of-use assets $2,058 $1,782 
Current portion of operating lease liabilities$287 $258 
Long-term operating lease liabilities1,801 1,478 
Total operating lease liabilities $2,088 $1,736 
Finance leases
Property, plant, and equipment, net$137 $177 
Current portion of long-term debt$37 $32 
Long-term debt152 163 
Total finance lease liabilities$189 $195 
Weighted-average remaining lease term (years)
Operating leases8.08.0
Finance leases5.56.3
Weighted-average discount rate
Operating leases4.17 %4.11 %
Finance leases3.45 %3.27 %
The components of lease cost were as follows:
Years Ended March 31,
(In millions)202620252024
Short-term lease cost$8 $8 $14 
Operating lease cost433 418 418 
Finance lease cost:
Amortization of right-of-use assets31 30 25 
Interest on lease liabilities7 7 5 
Total finance lease cost 38 37 30 
Variable lease cost (1)
147 139 131 
Sublease income(44)(36)(35)
Total lease cost (2)
$582 $566 $558 
(1)    These amounts include payments for maintenance, taxes, payments affected by the consumer price index, and other similar metrics and payments contingent on usage.
(2)    These amounts were primarily recorded in “Selling, distribution, general, and administrative expenses” in the Consolidated Statements of Operations.
Supplemental cash flow information related to leases was as follows:
Years Ended March 31,
(In millions)202620252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(270)$(404)$(339)
Operating cash flows from finance leases— — (1)
Financing cash flows from finance leases(36)(39)(47)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$699 
(1)
$599 $391 
Finance leases34 18 21 
(1)Increase in fiscal 2026 due to addition of leases from the Core Ventures and PRISM Vision acquisitions, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.”
Maturities of lease liabilities as of March 31, 2026 were as follows:
(In millions)Operating LeasesFinance LeasesTotal
Fiscal 2027$364 $41 $405 
Fiscal 2028352 42 394 
Fiscal 2029315 39 354 
Fiscal 2030286 30 316 
Fiscal 2031244 24 268 
Thereafter916 32 948 
Total lease payments (1)
2,477 208 2,685 
Less imputed interest(389)(19)(408)
Present value of lease liabilities$2,088 $189 $2,277 
(1)Total lease payments are not reduced by future minimum sublease income of $219 million, which is due under noncancellable subleases.
As of March 31, 2026, the Company entered into additional leases primarily for facilities that have not yet commenced with future lease payments of $46 million that are not reflected in the table above. These operating leases will commence in calendar year 2026 with noncancellable lease terms of three to 10 years.
Lessor
The Company leases certain owned equipment, classified as direct financing or sales-type leases, to physician practices. As of March 31, 2026 and 2025, the total lease receivable was $503 million and $419 million, respectively, with a weighted-average remaining lease term of approximately eight years. Interest income from these leases was not material for the years ended March 31, 2026, 2025, and 2024.
Leases Leases
Lessee
Supplemental balance sheet information related to leases was as follows:
March 31,
(In millions, except lease term and discount rate)20262025
Operating leases
Operating lease right-of-use assets $2,058 $1,782 
Current portion of operating lease liabilities$287 $258 
Long-term operating lease liabilities1,801 1,478 
Total operating lease liabilities $2,088 $1,736 
Finance leases
Property, plant, and equipment, net$137 $177 
Current portion of long-term debt$37 $32 
Long-term debt152 163 
Total finance lease liabilities$189 $195 
Weighted-average remaining lease term (years)
Operating leases8.08.0
Finance leases5.56.3
Weighted-average discount rate
Operating leases4.17 %4.11 %
Finance leases3.45 %3.27 %
The components of lease cost were as follows:
Years Ended March 31,
(In millions)202620252024
Short-term lease cost$8 $8 $14 
Operating lease cost433 418 418 
Finance lease cost:
Amortization of right-of-use assets31 30 25 
Interest on lease liabilities7 7 5 
Total finance lease cost 38 37 30 
Variable lease cost (1)
147 139 131 
Sublease income(44)(36)(35)
Total lease cost (2)
$582 $566 $558 
(1)    These amounts include payments for maintenance, taxes, payments affected by the consumer price index, and other similar metrics and payments contingent on usage.
(2)    These amounts were primarily recorded in “Selling, distribution, general, and administrative expenses” in the Consolidated Statements of Operations.
Supplemental cash flow information related to leases was as follows:
Years Ended March 31,
(In millions)202620252024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$(270)$(404)$(339)
Operating cash flows from finance leases— — (1)
Financing cash flows from finance leases(36)(39)(47)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$699 
(1)
$599 $391 
Finance leases34 18 21 
(1)Increase in fiscal 2026 due to addition of leases from the Core Ventures and PRISM Vision acquisitions, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.”
Maturities of lease liabilities as of March 31, 2026 were as follows:
(In millions)Operating LeasesFinance LeasesTotal
Fiscal 2027$364 $41 $405 
Fiscal 2028352 42 394 
Fiscal 2029315 39 354 
Fiscal 2030286 30 316 
Fiscal 2031244 24 268 
Thereafter916 32 948 
Total lease payments (1)
2,477 208 2,685 
Less imputed interest(389)(19)(408)
Present value of lease liabilities$2,088 $189 $2,277 
(1)Total lease payments are not reduced by future minimum sublease income of $219 million, which is due under noncancellable subleases.
As of March 31, 2026, the Company entered into additional leases primarily for facilities that have not yet commenced with future lease payments of $46 million that are not reflected in the table above. These operating leases will commence in calendar year 2026 with noncancellable lease terms of three to 10 years.
Lessor
The Company leases certain owned equipment, classified as direct financing or sales-type leases, to physician practices. As of March 31, 2026 and 2025, the total lease receivable was $503 million and $419 million, respectively, with a weighted-average remaining lease term of approximately eight years. Interest income from these leases was not material for the years ended March 31, 2026, 2025, and 2024.