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Leases (Tables) | 9 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Components of Lease Expense and Supplemental Cash Flow Information Related to Leases | The components of lease expense were as follows:
|  | Three Months Ended |  | Nine Months Ended
(in millions) |  | December 31, 2020 |  | December 31, 2019 |  | December 31, 2020 |  | December 31, 2019
Operating lease cost |  | $ | 156 |  |  | $ | 166 |  |  | $ | 463 |  |  | $ | 506 |
Short-term lease cost |  | 14 |  |  | 17 |  |  | 40 |  |  | 41 |
Variable lease cost |  | 17 |  |  | 9 |  |  | 40 |  |  | 35 |
Sublease income |  | (10) |  |  | (9) |  |  | (32) |  |  | (28) |
Total operating costs |  | $ | 177 |  |  | $ | 183 |  |  | $ | 511 |  |  | $ | 554 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 107 |  |  | $ | 90 |  |  | $ | 322 |  |  | $ | 339 |
Interest on lease liabilities |  | 10 |  |  | 16 |  |  | 35 |  |  | 50 |
Total finance lease cost |  | $ | 117 |  |  | $ | 106 |  |  | $ | 357 |  |  | $ | 389 |
Supplemental Balance Sheet Information Related to Leases | Cash payments made from variable lease costs and short-term leases are not included in the measurement of operating and finance lease liabilities, and as such, are excluded from the supplemental cash flow information stated below. In addition, for the supplemental non-cash information on operating and finance leases, please refer to Note 19 - "Cash Flows." Supplemental cash flow information related to leases was as follows:
|  | Nine Months Ended
(in millions) |  | December 31, 2020 |  | December 31, 2019
Cash paid for amounts included in the measurement of: |  |  |  |
Operating cash flows used in operating leases |  | $ | 463 |  |  | $ | 506 |
Operating cash flows used in finance leases |  | $ | 35 |  |  | $ | 50 |
Financing cash flows used in finance leases |  | $ | 430 |  |  | $ | 436 |
Supplemental balance sheet information related to leases was as follows:
|  |  |  | As of
(in millions) |  | Balance Sheet Line Item |  | December 31, 2020 |  | March 31, 2020
Assets: |  |  |  |  |  |
ROU operating lease assets |  | Operating right-of-use assets, net |  | $ | 1,459 |  |  | $ | 1,428 |
ROU finance lease assets |  | Property and Equipment, net |  | 971 |  |  | 1,220 |
Total |  |  |  | $ | 2,430 |  |  | $ | 2,648 |
Liabilities: |  |  |  |  |  |
Current |  |  |  |  |  |
Operating lease |  | Current operating lease liabilities |  | $ | 450 |  |  | $ | 482 |
Finance lease |  | Short-term debt and current maturities of long-term debt |  | 431 |  |  | 444 |
Total |  |  |  | $ | 881 |  |  | $ | 926 |
Non-current |  |  |  |  |  |
Operating lease |  | Non-current operating lease liabilities |  | $ | 1,113 |  |  | $ | 1,063 |
Finance lease |  | Long-term debt, net of current maturities |  | 545 |  |  | 602 |
Total |  |  |  | $ | 1,658 |  |  | $ | 1,665 |
The following table provides information on the weighted average remaining lease term and weighted average discount rate for operating and finance leases:
|  | As of
|  | December 31, 2020 |  | March 31, 2020
Weighted Average remaining lease term: |  | Years
Operating leases |  | 4.8 |  | 4.8
Finance leases |  | 2.7 |  | 2.7
Weighted average remaining discount rate: |  | Rate
Operating leases |  | 4.0 | % |  | 4.0 | %
Finance leases |  | 3.8 | % |  | 6.4 | %
Maturities of Lease Liabilities | The following maturity analysis presents expected undiscounted cash payments for operating and finance leases on an annual basis as of December 31, 2020:
Fiscal year |  | Operating Leases |  |
(in millions) |  | Real Estate |  | Equipment |  | Finance Leases
Remainder of 2021 |  | $ | 117 |  |  | $ | 15 |  |  | $ | 128 |
2022 |  | 412 |  |  | 42 |  |  | 419 |
2023 |  | 337 |  |  | 24 |  |  | 275 |
2024 |  | 262 |  |  | 11 |  |  | 139 |
2025 |  | 192 |  |  | 5 |  |  | 48 |
Thereafter |  | 297 |  |  | 3 |  |  | 6 |
Total lease payments |  | 1,617 |  |  | 100 |  |  | 1,015 |
Less: imputed interest |  | (151) |  |  | (3) |  |  | (39) |
Total payments |  | $ | 1,466 |  |  | $ | 97 |  |  | $ | 976 |
Maturities of Lease Liabilities | The following maturity analysis presents expected undiscounted cash payments for operating and finance leases on an annual basis as of December 31, 2020:
Fiscal year |  | Operating Leases |  |
(in millions) |  | Real Estate |  | Equipment |  | Finance Leases
Remainder of 2021 |  | $ | 117 |  |  | $ | 15 |  |  | $ | 128 |
2022 |  | 412 |  |  | 42 |  |  | 419 |
2023 |  | 337 |  |  | 24 |  |  | 275 |
2024 |  | 262 |  |  | 11 |  |  | 139 |
2025 |  | 192 |  |  | 5 |  |  | 48 |
Thereafter |  | 297 |  |  | 3 |  |  | 6 |
Total lease payments |  | 1,617 |  |  | 100 |  |  | 1,015 |
Less: imputed interest |  | (151) |  |  | (3) |  |  | (39) |
Total payments |  | $ | 1,466 |  |  | $ | 97 |  |  | $ | 976 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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