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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) From Continuing Operations Before Income Taxes

			Years Ended March 31,
(In millions)			2026						2025						2024
Income from continuing operations before income taxes
U.S.			$	4,300					$	3,735					$	2,597
Foreign			1,901						624						1,192
Income from continuing operations before income taxes			$	6,201					$	4,359					$	3,789

Schedule of Income Tax Expense (Benefit) Related to Continuing Operations

Income tax expense related to continuing operations consists of the following:

			Years Ended March 31,
(In millions, except percentages)			2026						2025						2024
Current
Federal			$	437					$	552					$	867
State			217						182						231
Foreign			218						254						134
Total current			872						988						1,232
Deferred
Federal			248						102						(360)
State			57						5						(133)
Foreign			(75)						(217)						(110)
Total deferred			230						(110)						(603)
Income tax expense			$	1,102					$	878					$	629
Reported income tax rate			17.8		%				20.1		%				16.6		%

Schedule of Reconciliation Between Effective Tax Rate on Income From Continuing Operations and Statutory Tax Rate

The following table presents a reconciliation of the U.S. federal statutory income tax rate to the Company’s effective tax rate for the year ended March 31, 2026, in accordance with ASU 2023-09.

			Year Ended March 31, 2026
(In millions, except percentages)			Amount						Percent
U.S. federal statutory tax rate			$	1,302					21.0		%
State and local income taxes, net of federal income tax effect (1)			213						3.4
Foreign tax effects
Luxembourg
Valuation allowance release			(119)						(1.9)
Other			2						0.0
Germany
Divestiture of investment			(99)						(1.6)
Other foreign jurisdictions			(26)						(0.4)
Effect of cross-border tax laws (2)			(30)						(0.5)
Tax credits (2)			(27)						(0.4)
Nontaxable or nondeductible items			(21)						(0.3)
Changes in unrecognized tax benefits (2)			65						1.0
Other adjustments
Liquidation of investment			(158)						(2.5)
Effective tax rate			$	1,102					17.8		%

(1)State income taxes in California, Illinois, New Jersey, Oregon and Pennsylvania represented the majority (greater than 50%) of the tax effect within this category.

(2)Reconciling items are presented on a gross basis, except for cross-border tax effects, tax credits and changes in unrecognized tax benefits (“UTBs”).

Income tax expense related to continuing operations for the years ended March 31, 2025 and 2024, prior to the adoption of ASU 2023-09, is reconciled from the U.S. federal statutory income tax rate to the Company’s effective income tax rate as follows:

									Years Ended March 31,
(In millions)									2025						2024
Income tax expense at federal statutory rate									$	915					$	796
State income taxes, net of federal tax benefit									145						104
Tax effect of foreign operations									(25)						(16)
Foreign-derived intangible income									(83)						(67)
Unrecognized tax benefits and settlements									91						116
Net tax benefit on intellectual property repatriation and sales									(258)						(104)
Canadian disposal transaction loss									140						—
Valuation allowance release									—						(157)
Share-based compensation									(42)						(37)
Other, net									(5)						(6)
Income tax expense									$	878					$	629

Schedule of Deferred Tax Balances

Deferred tax balances consisted of the following:

			March 31,
(In millions)			2026						2025
Assets
Receivable allowances			$	69					$	136
Opioid-related litigation and claims			623						680
Compensation and benefit-related accruals			333						287
Loss and credit carryforwards			996						847
Lease obligations			429						423
Other			194						236
Subtotal			2,644						2,609
Less: valuation allowance			(769)						(644)
Total assets			1,875						1,965
Liabilities
Inventory valuation and other assets			(2,008)						(2,139)
Fixed assets			(303)						(4)
Lease right-of-use assets			(432)						(434)
Other			(30)						(50)
Total liabilities			(2,773)						(2,627)
Net deferred tax liability			$	(898)					$	(662)
Long-term deferred tax asset			$	432					$	367
Long-term deferred tax liability			(1,330)						(1,029)
Net deferred tax liability			$	(898)					$	(662)

Schedule of Cash Paid for Income Taxes

Cash paid for income taxes, net of refunds received, by jurisdiction pursuant to the disclosure requirements of ASU 2023‑09 for the year ended March 31, 2026 was as follows:

			Year Ended March 31,
(In millions)			2026
U.S. Federal			$	839
U.S. States			131
Foreign
Canada			114
United Kingdom			103
Others			24
Total cash taxes paid, net of refunds			$	1,211

Schedule of Gross Unrecognized Tax Benefits

The following table summarizes the activity related to the Company’s gross unrecognized tax benefits for the last three fiscal years:

			Years Ended March 31,
(In millions)			2026						2025						2024
Unrecognized tax benefits at beginning of period			$	1,532					$	1,463					$	1,399
Additions based on tax positions related to prior years			30						33						10
Reductions based on tax positions related to prior years			(5)						(43)						(2)
Additions based on tax positions related to current year			36						97						64
Reductions based on settlements			—						(13)						(8)
Reductions based on the lapse of the applicable statutes of limitations			(20)						(7)						(2)
Exchange rate fluctuations			1						2						2
Unrecognized tax benefits at end of period			$	1,574					$	1,532					$	1,463

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