Fair Value Measurements (Tables)

6 Months Ended

12 Months Ended

Sep. 30, 2023

Mar. 31, 2023

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

As of September 30, 2023 and March 31, 2023, our assets and liabilities that were measured and recorded at fair value on a recurring basis were as follows (in millions):


			Fair Value Measurements at Reporting Date Using
	As of September 30, 2023		Quoted Prices in Active Markets for Identical Financial Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs		Balance Sheet Classification
			(Level 1)		(Level 2)		(Level 3)
Assets
Bank and time deposits	$	57	$	57	$	—	$	—	Cash equivalents
Money market funds	601		601		—		—		Cash equivalents
Available-for-sale securities:
Corporate bonds	94		—		94		—		Short-term investments
U.S. Treasury securities	105		105		—		—		Short-term investments
U.S. agency securities	19		—		19		—		Short-term investments
Commercial paper	78		—		78		—		Short-term investments and cash equivalents
Foreign government securities	7		—		7		—		Short-term investments
Asset-backed securities	41		—		41		—		Short-term investments
Certificates of deposit	18		—		18		—		Short-term investments
Foreign currency derivatives	82		—		82		—		Other current assets and other assets
Deferred compensation plan assets (a)	28		28		—		—		Other assets
Total assets at fair value	$	1,130	$	791	$	339	$	—
Liabilities
Foreign currency derivatives	$	21	$	—	$	21	$	—	Accrued and other current liabilities and other liabilities
Deferred compensation plan liabilities (a)	29		29		—		—		Other liabilities
Total liabilities at fair value	$	50	$	29	$	21	$	—


			Fair Value Measurements at Reporting Date Using
	As of March 31, 2023		Quoted Prices in Active Markets for Identical Financial Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs		Balance Sheet Classification
			(Level 1)		(Level 2)		(Level 3)
Assets
Bank and time deposits	$	56	$	56	$	—	$	—	Cash equivalents
Money market funds	956		956		—		—		Cash equivalents
Available-for-sale securities:
Corporate bonds	113		—		113		—		Short-term investments
U.S. Treasury securities	80		80		—		—		Short-term investments
U.S. agency securities	28		—		28		—		Short-term investments and cash equivalents
Commercial paper	66		—		66		—		Short-term investments and cash equivalents
Foreign government securities	11		—		11		—		Short-term investments
Asset-backed securities	37		—		37		—		Short-term investments
Certificates of deposit	14		—		14		—		Short-term investments
Foreign currency derivatives	29		—		29		—		Other current assets and other assets
Deferred compensation plan assets (a)	23		23		—		—		Other assets
Total assets at fair value	$	1,413	$	1,115	$	298	$	—
Liabilities
Foreign currency derivatives	$	65	$	—	$	65	$	—	Accrued and other current liabilities and other liabilities
Deferred compensation plan liabilities (a)	24		24		—		—		Other liabilities
Total liabilities at fair value	$	89	$	24	$	65	$	—

(a)The Deferred Compensation Plan consists of various mutual funds. See Note 15 in our Annual Report on Form 10-K for the fiscal year ended March 31, 2023, for additional information regarding our Deferred Compensation Plan.