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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities      
Net income $ 935 $ 606 $ 271
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 165 164 165
Noncash lease expense 50 54 56
Stock-based compensation expense 94 95 80
Deferred income taxes (91) (101) (354)
Net (gain) loss associated with investment activities (24) 6 2
Net (gain) loss on dispositions and other 8 9 (32)
Changes in assets and liabilities:      
Accounts receivable, net (206) (270) (130)
Income taxes receivable / payable (31) (11) 4
Prepaid expenses and other current and long-term assets 1 (10) 182
Accrued compensation and benefits 207 48 1
Accounts payable and other accrued expenses (66) (282) 410
Other current and long-term liabilities (33) (49) (52)
Net cash provided by operating activities 1,009 259 603
Cash flows from investing activities      
Purchases of property, equipment, and software (98) (67) (76)
Payments for business acquisitions, net of cash acquired (97) 0 (440)
Payments for cost method investments (37) (24) (5)
Proceeds from sales and distributions of businesses and equity interests 14 0 53
Net cash used in investing activities (218) (91) (468)
Cash flows from financing activities      
Proceeds from issuance of common stock 33 28 25
Stock option exercises 5 16 11
Repurchases of common stock (812) (404) (224)
Cash dividends paid (268) (254) (236)
Proceeds from revolving credit facility 200 500 0
Repayments on revolving credit facility, term loans, and Senior Notes (262) (541) (417)
Net proceeds from debt issuance 644 636 415
Net cash used in financing activities (460) (19) (426)
Net increase (decrease) in cash and cash equivalents 331 149 (291)
Cash and cash equivalents––beginning of year 554 405 696
Cash and cash equivalents––end of year 885 554 405
Net cash paid during the period for:      
Interest 186 156 116
Income taxes 379 336 256
Supplemental disclosures of non-cash investing and financing activities      
Share repurchases transacted but not settled and paid 22 29 16
Unpaid property, equipment and software purchases $ 9 $ 16 $ 0