XML 41 R20.htm IDEA: XBRL DOCUMENT 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%
2026123 178 
Current maturities of other long-term debt
Various202655 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%2027698 697 
€750 million Senior notes
0.45%2028808 806 
$650 million Senior notes
2.375%2029647 646 
€600 million Senior notes
0.95%2032644 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 - 202928 84 
Other borrowingsVarious
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 
2027722 
2028813 
2029653 
20302 
Thereafter651 
Total$3,598