XML 188 R36.htm IDEA: XBRL DOCUMENT v3.21.2
Leases (Tables)
 6 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Components of Lease Expense and Supplemental Cash Flow Information Related to Leases
The components of lease expense were as follows:

Three Months EndedSix Months Ended
(in millions)September 30, 2021September 30, 2020September 30, 2021September 30, 2020
Operating lease cost$124 $151 $254 $307 
Short-term lease cost 12 11 23 26 
Variable lease cost 15 15 33 23 
Sublease income(17)(10)(26)(22)
Total operating costs$134 $167 $284 $334 
The components of lease expense were as follows:

Three Months EndedSix Months Ended
(in millions)September 30, 2021September 30, 2020September 30, 2021September 30, 2020
Amortization of right-of-use assets$99 $99 $186 $215 
Interest on lease liabilities7 11 16 25 
Total finance lease cost$106 $110 $202 $240 

The following table provides supplemental cash flow information related to the Company’s finance leases:

(in millions)Six Months Ended September 30, 2021Six Months Ended September 30, 2020
Interest paid for finance lease liabilities – Operating cash flows
$16 $25 
Cash paid for amounts included in the measurement of finance lease obligations – financing cash flows
276 285 
Total cash paid in the measurement of finance lease obligations$292 $310 
Capital expenditures through finance lease obligations(1)
$114 $205 
    

(1) See Note 19 – ”Cash Flows” for further information on non-cash activities affecting cash flows.
Supplemental Balance Sheet Information Related to Leases
Cash payments made for variable lease costs and short-term leases are not included in the measurement of operating lease liabilities, and as such, are excluded from the supplemental cash flow information stated below.

Six Months Ended
(in millions)September 30, 2021September 30, 2020
Cash paid for amounts included in the measurement of operating lease liabilities – operating cash flows
$254 $307 
ROU assets obtained in exchange for operating lease liabilities(1)
$69 $410 
    

(1) Net of $509 million and $253 million in lease modifications and terminations during the first six months of fiscal 2022 and 2021, respectively. See Note 19 – “Cash Flows” for further information on non-cash activities affecting cash flows.

The following table presents operating lease balances:

As of
(in millions)Balance Sheet Line ItemSeptember 30, 2021March 31, 2021
ROU operating lease assetsOperating right-of-use assets, net$1,174 $1,366 
Operating lease liabilitiesCurrent operating lease liabilities$392 $418 
Operating lease liabilities Non-current operating lease liabilities862 1,038 
Total operating lease liabilities $1,254 $1,456 

The weighted-average operating lease term was 4.6 years and 4.9 years as of September 30, 2021 and March 31, 2021, respectively. The weighted-average operating lease discount rate was 3.5% and 3.8% as of September 30, 2021 and March 31, 2021, respectively.
The following table presents finance lease balances:

As of
(in millions)Balance Sheet Line ItemSeptember 30, 2021March 31, 2021
ROU finance lease assetsProperty and Equipment, net $736 $834 
Finance lease Short-term debt and current maturities of long-term debt $334 $398 
Finance leaseLong-term debt, net of current maturities 395 496 
Total finance lease liabilities(1)
$729 $894 
    

(1) See Note 12 – “Debt” for further information on finance lease liabilities.
Maturities of Operating Lease Liabilities
The following maturity analysis presents expected undiscounted cash payments for operating leases as of September 30, 2021:

Fiscal Year
(in millions)
Remainder of 2022
2023
2024
2025
2026
Thereafter
Total
Operating lease payments
$225 $366 $267 $198 $113 $202 $1,371 
Less: imputed interest
(117)
Total operating lease liabilities
$1,254 
Maturities of Finance Lease Liabilities
The following maturity analysis presents expected undiscounted cash payments for finance leases as of September 30, 2021:

Fiscal Year
(in millions)
Remainder of 2022
2023
2024
2025
2026
Thereafter
Total
Finance lease payments
$188 $290 $170 $80 $28 $3 $759 
Less: imputed interest
(30)
Total finance lease liabilities
$729