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INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of components of income from continuing operations before income taxes

The domestic (Singapore) and foreign components of income from continuing operations before income taxes were comprised of the following:

			Fiscal Year Ended March 31,
			2025						2024						2023
			(In millions)
Domestic			$	94					$	(165)					$	99
Foreign			929						831						708
Total			$	1,023					$	666					$	807

Schedule of provision (benefit from) income taxes

The (benefit from) provision for income taxes from continuing operations consisted of the following:

			Fiscal Year Ended March 31,
			2025						2024						2023
			(In millions)
Current:
Domestic			$	2					$	3					$	6
Foreign			128						161						117
			130						164						123
Deferred:
Domestic			3						(1)						1
Foreign			52						(369)						—
			55						(370)						1
(Benefit from) provision for income taxes			$	185					$	(206)					$	124

Schedule of reconciliation of the income tax expense from continuing operations expected based on domestic statutory income tax rates to the expense (benefit) for income taxes

The reconciliation of the income tax expense (benefit) from continuing operations expected based on domestic statutory income tax rates to the expense (benefit) for income taxes included in the consolidated statements of operations is as follows:

			Fiscal Year Ended March 31,
			2025						2024						2023
			(In millions)
Income taxes based on domestic statutory rates			$	174					$	113					$	137
Effect of jurisdictional tax rate differential			13						68						52
Change in unrecognized tax benefit			(19)						(10)						(7)
Change in valuation allowance			(37)						(685)						(290)
Foreign exchange movement on prior year taxes recoverable			4						(1)						4
Liability for undistributed earnings			6						135						—
Global intangible low-taxed income (GILTI) / Subpart F income			9						13						18
Nextracker related transactions gains			—						115						158
Earnings from partnership			—						47						39
U.S. state taxes			10						10						2
Excess compensation (Section 162(m))			16						15						9
Other			9						(26)						2
(Benefit from) provision for income taxes			$	185					$	(206)					$	124

Schedule of components of deferred income taxes

The components of deferred income taxes are as follows:

			As of March 31,
			2025						2024
			(In millions)
Deferred tax liabilities:
Fixed assets			$	(44)					$	(59)
Intangible assets			(52)						(56)
Others			(128)						(149)
Total deferred tax liabilities			(224)						(264)
Deferred tax assets:
Fixed assets			76						82
Intangible assets			3						4
Deferred compensation			37						25
Inventory valuation			32						26
Provision for doubtful accounts			3						2
Net operating loss and other carryforwards			1,022						1,168
Tax receivable agreement			74						77
Others			186						184
Total deferred tax assets			1,433						1,568
Valuation allowances			(781)						(838)
Total deferred tax assets, net of valuation allowances			652						730
Net deferred tax asset			$	428					$	466
The net deferred tax asset is classified as follows:
Long-term asset			$	577					$	644
Long-term liability			(149)						(178)
Total			$	428					$	466

Schedule of tax losses and other carryforwards on a tax return basis, which will expire at various dates

These tax losses and other carryforwards will expire at various dates as follows:

Expiration dates of deferred tax assets related to operating losses and other carryforwards
Fiscal year			(In millions)
2026 - 2031			$	134
2032 - 2037			204
2038 and thereafter			17
Indefinite			696
			$	1,051

Schedule of reconciliation of beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:

			Fiscal Year Ended March 31,
			2025						2024
			(In millions)
Balance, beginning of fiscal year			$	197					$	268
Additions based on tax position related to the current year			10						10
Additions for tax positions of prior years			1						22
Reductions for tax positions of prior years			(5)						(82)
Reductions related to lapse of applicable statute of limitations			(23)						(17)
Impact from foreign exchange rates fluctuation			—						(4)
Balance, end of fiscal year			$	180					$	197

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Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

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Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

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Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

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Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

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Tabular disclosure of the change in unrecognized tax benefits.

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