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Leases (Tables)
 12 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Lease, Cost
The components of lease expenses for the fiscal years ended March 31, 2024, 2023, and 2022 are as follows (in millions):
Year Ended March 31,
202420232022
Operating lease costs$80 $138 $98 
Variable lease costs31 22 21 
Short-term lease costs1 7 2 
Total lease expense$112 $167 $121 
During the fiscal year ended March 31, 2023, we recorded accelerated amortization of certain ROU Assets of $34 million within the operating lease costs and accelerated deprecation of property, plant and equipment for $10 million as part of our 2023 Restructuring Plan. See Note 8 — Restructuring Activities for additional information.
Supplemental cash and noncash information related to our operating leases for the fiscal years ended March 31, 2024, 2023, and 2022 are as follows (in millions):
Year Ended March 31,
202420232022
Cash paid for amounts included in the measurement of lease liability$74 $97 $97 
ROU assets obtained in exchange for new lease obligations$37 $97 $150 
Weighted average remaining lease term and discount rate at March 31, 2024 and 2023 are as follows:
At March 31, 2024
At March 31, 2023
Lease term7.1 years7.5 years
Discount rate3.6 %3.3 %
AssetsandLiabilitiesLesseeTableTextBlock
Operating lease ROU assets and liabilities recorded on our Consolidated Balance Sheets as of March 31, 2024 and 2023 are as follows (in millions):
As of March 31,Balance Sheet Classification

20242023
Operating lease ROU assets$243 $276 Other assets


Operating lease liabilities$66 $66 Accrued and other current liabilities
Noncurrent operating lease liabilities248 277 Other liabilities
Total operating lease liabilities$314 

$343 
Lessee, Operating Lease, Liability, Maturity
Future minimum lease payments under operating leases as of March 31, 2024 were as follows (in millions):
Fiscal Years Ending March 31,

2025

$74 
2026

61 
2027

46 
2028

37 
2029

26 
Thereafter

112 
Total future lease payments

356 
Less imputed interest

(42)
Total operating lease liabilities

$314