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BALANCE SHEET ITEMS | 6 Months Ended
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Sep. 27, 2024
Balance Sheet Related Disclosures [Abstract] |
BALANCE SHEET ITEMS | BALANCE SHEET ITEMS Inventories The components of inventories, net of applicable lower of cost and net realizable value write-downs, were as follows:
| As of September 27, 2024 |  | As of March 31, 2024
| (In millions)
Raw materials | $ | 4,569 |  |  | $ | 5,045 |
Work-in-progress | 460 |  |  | 623 |
Finished goods | 437 |  |  | 537 |
| $ | 5,466 |  |  | $ | 6,205 |
Goodwill and Other Intangible Assets During the six-month period ended September 27, 2024, the activity in the Company's goodwill account included approximately $3 million of foreign currency translation and an approximately $8 million goodwill addition from an acquisition in the first quarter of fiscal year 2025. The components of acquired intangible assets are as follows:
| As of September 27, 2024 |  | As of March 31, 2024
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
| (In millions)
Intangible assets: |  |  |  |  |  |  |  |  |  |  |
Customer-related intangibles | $ | 292 |  |  | $ | (172) |  |  | $ | 120 |  |  | $ | 316 |  |  | $ | (186) |  |  | $ | 130 |
Licenses and other intangibles | 309 |  |  | (206) |  |  | 103 |  |  | 298 |  |  | (183) |  |  | 115 |
Total | $ | 601 |  |  | $ | (378) |  |  | $ | 223 |  |  | $ | 614 |  |  | $ | (369) |  |  | $ | 245 |
The gross carrying amounts of intangible assets are removed when fully amortized. The estimated future annual amortization expense for intangible assets is as follows:
Fiscal Year Ending March 31, |  | Amount
|  | (In millions)
2025 (1) |  | $ | 32 |
2026 |  | 45 |
2027 |  | 37 |
2028 |  | 28 |
2029 |  | 25 |
Thereafter |  | 56 |
Total amortization expense |  | $ | 223 |
____________________________________________________________ (1)Represents estimated amortization for the remaining fiscal six-month period ending March 31, 2025. Customer Working Capital Advances Customer working capital advances were $1.8 billion and $2.2 billion as of September 27, 2024 and March 31, 2024, respectively. The customer working capital advances are not interest-bearing, do not generally have fixed repayment dates and are generally reduced as the underlying working capital is consumed in production or the customer working capital advance agreement is terminated. Other Non-Current Assets Other non-current assets include deferred tax assets of $657 million and $644 million as of September 27, 2024 and March 31, 2024, respectively. Other Current Liabilities Other current liabilities include customer-related accruals of $245 million and $277 million as of September 27, 2024 and March 31, 2024, respectively.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/210/tableOfContent + Details
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