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Other Financial Statement Details
 3 Months Ended
Jun. 30, 2025
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):
 June 30,March 31,
20252025
Trade accounts receivable$755.1 $684.1 
Other16.1 11.5 
Total accounts receivable, gross771.2 695.6 
Less: allowance for expected credit losses5.7 5.9 
Total accounts receivable, net$765.5 $689.7 

Inventories

The components of inventories consist of the following (in millions):
 June 30,March 31,
20252025
Raw materials$165.8 $174.8 
Work in process793.2 857.6 
Finished goods210.1 261.1 
Total inventories$1,169.1 $1,293.5 

Property, Plant and Equipment

Property, plant and equipment consists of the following (in millions):
 June 30,March 31,
20252025
Land$84.8 $84.8 
Building and building improvements702.5 705.9 
Machinery and equipment2,313.1 2,311.3 
Projects in process428.4 424.1 
Total property, plant and equipment, gross3,528.8 3,526.1 
Less: accumulated depreciation and amortization2,374.9 2,342.4 
Total property, plant and equipment, net$1,153.9 $1,183.7 
 
Depreciation expense attributed to property, plant and equipment was $39.5 million for the three months ended June 30, 2025, compared to $43.0 million for the three months ended June 30, 2024.

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 months ended June 30, 2025 and 2024, 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):
 June 30,March 31,
20252025
Accrued compensation and benefits$129.2 $108.1 
Income taxes payable86.2 99.1 
Deferred revenue160.1 213.4 
Sales related reserves365.4 329.7 
Current portion of lease liabilities36.4 35.7 
Accrued expenses and other liabilities251.2 208.5 
Total accrued liabilities$1,028.5 $994.5