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Other Financial Statement Details | 9 Months Ended
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Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Other Financial Statement Details | Other Financial Statement Details Accounts Receivable Accounts receivable consists of the following (in millions):
| December 31, |  | March 31,
| 2021 |  | 2021
Trade accounts receivable | $ | 922.3 |  |  | $ | 991.6 |
Other | 13.8 |  |  | 11.3 |
Total accounts receivable, gross | 936.1 |  |  | 1,002.9 |
Less: allowance for expected credit losses | 6.0 |  |  | 5.2 |
Total accounts receivable, net | $ | 930.1 |  |  | $ | 997.7 |
Inventories The components of inventories consist of the following (in millions):
| December 31, |  | March 31,
| 2021 |  | 2021
Raw materials | $ | 150.5 |  |  | $ | 115.7 |
Work in process | 429.9 |  |  | 412.8 |
Finished goods | 187.8 |  |  | 136.5 |
Total inventories | $ | 768.2 |  |  | $ | 665.0 |
Property, Plant and Equipment Property, plant and equipment consists of the following (in millions):
| December 31, |  | March 31,
| 2021 |  | 2021
Land | $ | 82.5 |  |  | $ | 83.2 |
Building and building improvements | 666.7 |  |  | 659.7 |
Machinery and equipment | 2,442.8 |  |  | 2,251.1 |
Projects in process | 117.4 |  |  | 102.7 |
Total property, plant and equipment, gross | 3,309.4 |  |  | 3,096.7 |
Less: accumulated depreciation and amortization | 2,379.5 |  |  | 2,242.0 |
Total property, plant and equipment, net | $ | 929.9 |  |  | $ | 854.7 |
Depreciation expense attributed to property, plant and equipment was $64.9 million and $149.8 million for the three and nine months ended December 31, 2021, respectively, compared to $40.3 million and $120.4 million for the three and nine months ended December 31, 2020, respectively. The increase in depreciation expense during the three months ended December 31, 2021 includes the impact of current production levels, manufacturing expansion activities and moving and repurposing floor space and equipment. The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amount of such assets may not be recoverable. For each of the three and nine months ended December 31, 2021 and 2020, the Company’s evaluation of its property, plant and equipment did not result in any material impairments. Accrued Liabilities Accrued liabilities consists of the following (in millions):
| December 31, |  | March 31,
| 2021 |  | 2021
Accrued compensation and benefits | $ | 203.7 |  |  | $ | 166.7 |
Income taxes payable | 80.1 |  |  | 43.4 |
Sales related reserves | 339.1 |  |  | 350.7 |
Current portion of lease liabilities | 35.0 |  |  | 39.8 |
Accrued expenses and other liabilities | 259.5 |  |  | 193.7 |
Total accrued liabilities | $ | 917.4 |  |  | $ | 794.3 |

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