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v3.25.1

Debt | 12 Months Ended
--- | ---
Mar. 31, 2025
Debt Disclosure [Abstract] |
Debt | Debt The following is a summary of the Company's debt:
|  |  |  |  |  |  | As of
| (in millions) |  | Interest Rates |  | Fiscal Year Maturities |  | March 31, 2025(1) |  | March 31, 2024(1)
| Short-term debt and current maturities of long-term debt |  |  |  |  |  |  |  |
| €650 million Senior notes |  | 1.75% |  | 2026 |  | $ | 702 |  |  | $ | — |
| Current maturities of finance lease liabilities |  | 0.51% - 14.59% |  | 2026 |  | 123 |  |  | 178 |
| Current maturities of other long-term debt |  | Various |  | 2026 |  | 55 |  |  | 93 |
| Short-term debt and current maturities of long-term debt |  |  |  |  |  | $ | 880 |  |  | $ | 271 |
| Long-term debt, net of current maturities |  |  |  |  |  |  |  |
| €650 million Senior notes |  | 1.75% |  | 2026 |  | — |  |  | 700 |
| $700 million Senior notes |  | 1.80% |  | 2027 |  | 698 |  |  | 697 |
| €750 million Senior notes |  | 0.45% |  | 2028 |  | 808 |  |  | 806 |
| $650 million Senior notes |  | 2.375% |  | 2029 |  | 647 |  |  | 646 |
| €600 million Senior notes |  | 0.95% |  | 2032 |  | 644 |  |  | 643 |
| Finance lease liabilities |  | 0.51% - 14.59% |  | 2026 - 2035 |  | 155 |  |  | 242 |
| Borrowings for assets acquired under long-term financing |  | 0.00% - 9.78% |  | 2026 - 2029 |  | 28 |  |  | 84 |
| Other borrowings |  | Various |  | 2026 - 2035 |  | 16 |  |  | — |
| Long-term debt, net of current maturities |  |  |  |  |  | $ | 2,996 |  |  | $ | 3,818 |
| Total debt |  |  |  |  |  | $ | 3,876 |  |  | $ | 4,089 |
(1)The carrying amounts of the senior notes as of March 31, 2025 and March 31, 2024, include the remaining principal outstanding of $3,510 million and $3,509 million, respectively, net of total unamortized debt (discounts) and premiums, and deferred debt issuance costs of $11 million and $17 million, respectively. Fair Value of Debt The estimated fair value of the Company's long-term debt excluding finance lease liabilities was $3.3 billion as of both March 31, 2025 and March 31, 2024, respectively, as compared with the carrying value of $3.6 billion and $3.7 billion as of March 31, 2025 and March 31, 2024, respectively. If measured at fair value, long-term debt excluding finance lease liabilities would be classified as Level 1 or Level 2 within the fair value hierarchy. Future Maturities of Debt Future maturities of debt, excluding finance lease liabilities, for fiscal years after March 31, 2025, are as follows:
Fiscal Year |  | (in millions)
2026 |  | $ | 757 |
2027 |  | 722 |
2028 |  | 813 |
2029 |  | 653 |
2030 |  | 2 |
Thereafter |  | 651 |
Total |  | $ | 3,598 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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