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LEASES | 12 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
LEASES | LEASES The Company has several commitments under operating leases for warehouses, buildings, and equipment. The Company also has a number of finance leases with an immaterial impact on its consolidated financial statements. Leases have remaining lease terms ranging from approximately 1 year to 19 years. The components of lease cost recognized were as follow (in millions):
Lease cost | Fiscal Year Ended
| March 31, 2025 |  | March 31, 2024
Operating lease cost | $ | 173 |  |  | $ | 167 |
Amounts reported in the consolidated balance sheet as of the fiscal years ended March 31, 2025 and 2024 were (in millions, except weighted average lease term and discount rate):
| As of March 31, 2025 |  | As of March 31, 2024
Operating Leases: |  |  |
Operating lease right of use assets | $ | 562 |  | $ | 601
Operating lease liabilities * | 591 |  | 626
Weighted-average remaining lease term (In years) |  |  |
Operating leases | 6.0 |  | 6.3
Weighted-average discount rate |  |  |
Operating leases | 4.4 | % |  | 4.4 | %
* Operating lease liabilities includes $135 million current lease liabilities and $456 million non-current lease liabilities. Other information related to leases was as follow (in millions):
| Fiscal Year Ended
| March 31, 2025 |  | March 31, 2024
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 168 |  |  | $ | 160 |
Right‑of‑use assets obtained in exchange for lease liabilities |  |  |
Operating Lease | $ | 106 |  |  | $ | 134 |
Future lease payments under non-cancellable leases as of March 31, 2025 were as follows (in millions):
Fiscal Year Ended March 31, | Operating Leases
2026 | $ | 158 |
2027 | 126 |
2028 | 106 |
2029 | 84 |
2030 | 62 |
Thereafter | 134 |
Total undiscounted lease payments | 670 |
Less: imputed interest | 79 |
Total lease liabilities | $ | 591 |
Total rent expense amounted to $194 million, $188 million and $182 million in fiscal years 2025, 2024 and 2023, respectively.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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