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Derivatives (Tables) | 3 Months Ended
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Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following table summarizes our outstanding derivative instruments as of June 30, 2023 and March 31, 2023:
| Notional Amount |  | Fair Value of Derivative Assets |  | Fair Value of Derivative Liabilities
(In millions) | June 30, 2023 |  | March 31, 2023 |  | June 30, 2023 |  | March 31, 2023 |  | June 30, 2023 |  | March 31, 2023
Foreign exchange contracts not designated as hedging instrument (1) | $ | 249 |  |  | $ | 291 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest rate swap contracts designed as cash flow hedge | 1,000 |  |  | 1,000 |  |  | 19 |  |  | 1 |  |  | — |  |  | 2 |
Total | $ | 1,249 |  |  | $ | 1,291 |  |  | $ | 19 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 2 |
(1) The fair values of the foreign exchange contracts are less than $1 million as of June 30, 2023 and March 31, 2023.
Schedule of Effect of Cash Flow Hedges on AOCI | The following table summarizes the effect of our cash flow hedges on AOCI during the periods indicated:
| Three Months Ended
(In millions) | June 30, 2023 |  | July 1, 2022
Interest rate swap contracts designed as cash flow hedge | $ | (22) |  |  | $ | — |
Schedule of Derivative Instruments, Gain (Loss) | The related gain (loss) recognized in our Condensed Consolidated Statements of Operations, with presentation location was as follows:
| Three Months Ended |  | Condensed Consolidated Statements of Operations Classification
(In millions) | June 30, 2023 |  | July 1, 2022 |
Foreign exchange contracts not designated as hedging instrument | $ | (3) |  |  | $ | (7) |  |  | Other income (expense), net
Interest rate swap contracts designed as cash flow hedge | 3 |  |  | — |  |  | Interest expense
Total | $ | — |  |  | $ | (7) |  |  |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4A + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-4C + Details
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