Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2025

Mar. 31, 2024

Fair Value Assets And Liabilities Measured On Recurring Basis

As of March 31, 2025 and 2024, 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 March 31, 2025		Quoted Prices in Active Markets for Identical Financial Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs
			(Level 1)		(Level 2)		(Level 3)		Balance Sheet Classification
Assets
Bank and time deposits	$	58	$	58	$	—	$	—	Cash equivalents
Money market funds	904		904		—		—		Cash equivalents
Available-for-sale securities:
Corporate bonds	46		—		46		—		Short-term investments
U.S. Treasury securities	12		12		—		—		Short-term investments


Foreign government securities	4		—		4		—		Short-term investments
Asset-backed securities	50		—		50		—		Short-term investments

Foreign currency derivatives	28		—		28		—		Other current assets and other assets
Deferred compensation plan assets (a)	36		36		—		—		Other assets
Total assets at fair value	$	1,138	$	1,010	$	128	$	—
Liabilities
Foreign currency derivatives	$	26	$	—	$	26	$	—	Accounts payable, accrued, and other current liabilities and other liabilities
Deferred compensation plan liabilities (a)	36		36		—		—		Other liabilities
Total liabilities at fair value	$	62	$	36	$	26	$	—


			Fair Value Measurements at Reporting Date Using
	As of March 31, 2024		Quoted Prices in Active Markets for Identical Financial Instruments		Significant Other Observable Inputs		Significant Unobservable Inputs
			(Level 1)		(Level 2)		(Level 3)		Balance Sheet Classification
Assets
Bank and time deposits	$	58	$	58	$	—	$	—	Cash equivalents
Money market funds	1,038		1,038		—		—		Cash equivalents
Available-for-sale securities:
Corporate bonds	130		—		130		—		Short-term investments
U.S. Treasury securities	95		95		—		—		Short-term investments
U.S. agency securities	9		—		9		—		Short-term investments
Commercial paper	74		—		74		—		Short-term investments and cash equivalents
Foreign government securities	8		—		8		—		Short-term investments
Asset-backed securities	41		—		41		—		Short-term investments
Certificates of deposit	13		—		13		—		Short-term investments
Foreign currency derivatives	29		—		29		—		Other current assets and other assets
Deferred compensation plan assets (a)	30		30		—		—		Other assets
Total assets at fair value	$	1,525	$	1,221	$	304	$	—
Liabilities
Foreign currency derivatives	$	20	$	—	$	20	$	—	Accounts payable, accrued, and other current liabilities and other liabilities
Deferred compensation plan liabilities (a)	31		31		—		—		Other liabilities
Total liabilities at fair value	$	51	$	31	$	20	$	—

(a)The Deferred Compensation Plan consists of various mutual funds. See Note 15 for additional information regarding our Deferred Compensation Plan.