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REVENUE | 9 Months Ended
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Dec. 31, 2023
Revenue from Contract with Customer [Abstract] |
REVENUE | REVENUE Contract Balances A contract asset is recognized when the Company has recognized revenue, but not issued an invoice for payment. Contract assets are classified separately on the condensed consolidated balance sheets and transferred to receivables when rights to payment become unconditional and invoiced. A contract liability is recognized when the Company receives payments in advance of the satisfaction of performance. Contract liabilities, identified as deferred revenue, were $755 million and $885 million as of December 31, 2023 and March 31, 2023, respectively, of which $626 million and $795 million, respectively, is included in deferred revenue and customer working capital advances under current liabilities. Disaggregation of Revenue The following table presents the Company’s revenue disaggregated based on timing of transfer, point in time or over time, for the three and nine-month periods ended December 31, 2023 and December 31, 2022, respectively.
| Three-Month Periods Ended |  | Nine-Month Periods Ended
| December 31, 2023 |  | December 31, 2022 |  | December 31, 2023 |  | December 31, 2022
Timing of Transfer | (In millions)
FAS |  |  |  |  |  |  |
Point in time | $ | 3,152 |  |  | $ | 3,812 |  |  | $ | 9,868 |  |  | $ | 11,378 |
Over time | 314 |  |  | 217 |  |  | 817 |  |  | 646 |
Total | 3,466 |  |  | 4,029 |  |  | 10,685 |  |  | 12,024 |
FRS |  |  |  |  |  |  |
Point in time | 2,793 |  |  | 3,038 |  |  | 9,069 |  |  | 8,938 |
Over time | 163 |  |  | 187 |  |  | 492 |  |  | 555 |
Total | 2,956 |  |  | 3,225 |  |  | 9,561 |  |  | 9,493 |
Nextracker |  |  |  |  |  |  |
Point in time | 6 |  |  | 8 |  |  | 33 |  |  | 41 |
Over time | 704 |  |  | 508 |  |  | 1,730 |  |  | 1,343 |
Total | 710 |  |  | 516 |  |  | 1,763 |  |  | 1,384 |
Intersegment eliminations |  |  |  |  |  |  |
Point in time | (29) |  |  | (14) |  |  | (99) |  |  | (32) |
Over time | — |  |  | — |  |  | — |  |  | — |
Total | (29) |  |  | (14) |  |  | (99) |  |  | (32) |
Flex |  |  |  |  |  |  |
Point in time | 5,922 |  |  | 6,844 |  |  | 18,871 |  |  | 20,325 |
Over time | 1,181 |  |  | 912 |  |  | 3,039 |  |  | 2,544 |
Total | $ | 7,103 |  |  | $ | 7,756 |  |  | $ | 21,910 |  |  | $ | 22,869 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
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