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Debt | 6 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Debt | Debt The following is a summary of the Company’s debt:
| (in millions) |  | Interest Rates |  | Fiscal Year Maturities |  | September 30, 2021 |  | March 31, 2021 |  |  |  |
| Short-term debt and current maturities of long-term debt |  |  |  |  |  |  |  |  |  |  |  |
| Commercial paper(1) |  | (0.43)% - (0.15)% |  | 2022 |  | $ | 232 |  |  | $ | 213 |  |  |  |  |
| Current maturities of long-term debt |  | Various |  | 2022 - 2023 |  | 179 |  |  | 556 |  |  |  |  |
| Current maturities of finance lease liabilities |  | 0.35% - 17.68% |  | 2022 - 2023 |  | 334 |  |  | 398 |  |  |  |  |
| Short-term debt and current maturities of long-term debt |  |  |  |  |  | $ | 745 |  |  | $ | 1,167 |  |  |  |  |
| Long-term debt, net of current maturities |  |  |  |  |  |  |  |  |  |  |  |
| €750 million Senior notes |  | 0.45% |  | 2028 |  | $ | 862 |  |  | $ | — |  |  |  |  |
| €600 million Senior notes |  | 0.95% |  | 2032 |  | 688 |  |  | — |  |  |  |  |
| $700 million Senior notes |  | 1.80% |  | 2027 |  | 694 |  |  | — |  |  |  |  |
| $650 million Senior notes |  | 2.375% |  | 2029 |  | 644 |  |  | — |  |  |  |  |
| EUR term loan |  | 0.80% |  | 2023 - 2024 |  | — |  |  | 469 |  |  |  |  |
| $274 million Senior notes |  | 4.45% |  | 2023 |  | — |  |  | 154 |  |  |  |  |
| $171 million Senior notes |  | 4.45% |  | 2023 |  | — |  |  | 165 |  |  |  |  |
| $500 million Senior notes |  | 4.25% |  | 2025 |  | — |  |  | 504 |  |  |  |  |
| $500 million Senior notes |  | 4.125% |  | 2026 |  | — |  |  | 496 |  |  |  |  |
| £250 million Senior notes |  | 2.75% |  | 2025 |  | — |  |  | 343 |  |  |  |  |
| €650 million Senior notes |  | 1.75% |  | 2026 |  | 750 |  |  | 760 |  |  |  |  |
| $500 million Senior notes |  | 4.75% |  | 2028 |  | — |  |  | 506 |  |  |  |  |
| $234 million Senior notes |  | 7.45% |  | 2030 |  | — |  |  | 268 |  |  |  |  |
| Finance lease liabilities |  | 0.35% - 17.68% |  | 2022 - 2027 |  | 729 |  |  | 894 |  |  |  |  |
| Borrowings for assets acquired under long-term financing |  | 0.00% - 6.78% |  | 2022 - 2027 |  | 441 |  |  | 672 |  |  |  |  |
| Mandatorily redeemable preferred stock outstanding |  | 6.00% |  | 2023 |  | 63 |  |  | 63 |  |  |  |  |
| Other borrowings |  | Various |  | 2022 - 2023 |  | 5 |  |  | 5 |  |  |  |  |
| Long-term debt |  |  |  |  |  | 4,876 |  |  | 5,299 |  |  |  |  |
| Less: current maturities |  |  |  |  |  | 513 |  |  | 954 |  |  |  |  |
| Long-term debt, net of current maturities |  |  |  |  |  | $ | 4,363 |  |  | $ | 4,345 |  |  |  |  |
(1)At DXC’s option, DXC can borrow up to a maximum of €1 billion. Senior Notes and Term Loans During the first quarter of fiscal 2022, the Company used the proceeds from the sale of its HPS business to complete the retirement of the remaining $319 million of the two series of 4.45% senior notes due fiscal 2023. The Company also repurchased $33 million of its 4.125% senior notes due fiscal 2026 using the proceeds from the divestitures of other insignificant businesses and existing cash on hand. Euro Senior Notes Issuance During the second quarter of fiscal 2022, the Company issued (i) €750 million aggregate principal amount of its 0.450% senior notes due fiscal 2028 and (ii) €600 million aggregate principal amount of its 0.950% senior notes due fiscal 2032 (collectively, the “Euro Notes”). The proceeds from the Euro Notes were applied principally to the repayment in full of the €400 million aggregate principal amount of outstanding borrowings under its Euro-denominated term loan facility, the repayment of its U.S. dollar-denominated 4.25% senior notes due fiscal 2025 and the repayment of its Sterling-denominated 2.75% senior notes due fiscal 2025. U.S. Dollar Senior Notes Issuance During the second quarter of fiscal 2022, the Company issued (i) $700 million aggregate principal amount of its 1.80% senior notes due fiscal 2027, and (ii) $650 million aggregate principal amount of its 2.375% senior notes due fiscal 2029 (collectively, the “USD Notes”). The proceeds from the USD Notes were used for the repayment of its remaining 4.125% senior notes due fiscal 2026, its 4.750% senior notes due fiscal 2028 and its 7.45% senior notes due fiscal 2030. The interest on the Company’s $700 million senior notes due fiscal 2027 and $650 million senior notes due fiscal 2029 are payable semi-annually in arrears, while the interest on the €650 million senior notes due fiscal 2026, €750 million senior notes due fiscal 2028 and €600 million senior notes due fiscal 2032 are payable annually in arrears. Generally, the Company’s notes are redeemable at the Company’s discretion at the then-applicable redemption premium plus accrued and unpaid interest.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(c)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1C -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495334-112611 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1E -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495348-112611 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1I -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495371-112611 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -SubTopic 20 -Section 50 -Paragraph 1B -Subparagraph (i) -URI http://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611 + Details
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