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Leases (Tables)
 6 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Components of Lease Expense and Supplemental Cash Flow Information Related to Leases
The components of operating lease expense were as follows:

Three Months EndedSix Months Ended
(in millions)September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Operating lease cost$108 $124 $214 $254 
Short-term lease cost 11 12 19 23 
Variable lease cost 17 15 39 33 
Sublease income(6)(17)(10)(26)
Total operating costs$130 $134 $262 $284 
The components of finance lease expense were as follows:

Three Months EndedSix Months Ended
(in millions)September 30, 2022September 30, 2021September 30, 2022September 30, 2021
Amortization of right-of-use assets$55 $99 $116 $186 
Interest on lease liabilities4 7 9 16 
Total finance lease expense$59 $106 $125 $202 

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

(in millions)Six Months Ended September 30, 2022Six Months Ended September 30, 2021
Interest paid for finance lease liabilities – Operating cash flows
$9 $16 
Cash paid for amounts included in the measurement of finance lease obligations – financing cash flows
168 276 
Total cash paid in the measurement of finance lease obligations$177 $292 
Capital expenditures through finance lease obligations(1)
$44 $114 
    

(1) See Note 17 – ”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, 2022September 30, 2021
Cash paid for amounts included in the measurement of operating lease liabilities – operating cash flows
$214 $254 
ROU assets obtained in exchange for operating lease liabilities(1)
$117 $69 
    

(1) Net of $521 million and $509 million in lease modifications and terminations during the first six months of fiscal 2023 and 2022, respectively. See Note 17 – “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, 2022March 31, 2022
ROU operating lease assetsOperating right-of-use assets, net$927 $1,133 
Operating lease liabilitiesCurrent operating lease liabilities$318 $388 
Operating lease liabilities Non-current operating lease liabilities667 815 
Total operating lease liabilities $985 $1,203 

The weighted-average operating lease term was 4.1 years and 4.4 years as of September 30, 2022 and March 31, 2022, respectively. The weighted-average operating lease discount rate was 3.6% and 3.3% as of September 30, 2022 and March 31, 2022, respectively.
The following table presents finance lease balances:

As of
(in millions)Balance Sheet Line ItemSeptember 30, 2022March 31, 2022
ROU finance lease assetsProperty and Equipment, net $474 $602 
Finance lease Short-term debt and current maturities of long-term debt $235 $289 
Finance leaseLong-term debt, net of current maturities 294 354 
Total finance lease liabilities(1)
$529 $643 
    

(1) See Note 10 – “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, 2022:

Fiscal Year
(in millions)
Remainder of 2023
2024202520262027
Thereafter
Total
Operating lease payments
$183 $297 $230 $145 $68 $148 $1,071 
Less: imputed interest
(86)
Total operating lease liabilities
$985 
Maturities of Finance Lease Liabilities
The following maturity analysis presents expected undiscounted cash payments for finance leases as of September 30, 2022:

Fiscal Year
(in millions)
Remainder of 2023
2024202520262027
Thereafter
Total
Finance lease payments
$136 $197 $123 $65 $32 $3 $556 
Less: imputed interest
(27)
Total finance lease liabilities
$529