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Debt
 3 Months Ended
Jun. 30, 2025
Debt Disclosure [Abstract]  
Debt Debt
The following is a summary of the Company’s debt:

(in millions)Interest RatesFiscal Year Maturities
June 30, 2025(1)
March 31, 2025(1)
Short-term debt and
current maturities of long-term debt
€650 million Senior notes
1.75%2026763 702 
Current maturities of finance lease liabilities
0.51% - 14.59%
2026 - 2027117 123 
Current maturities of long-term debtVarious2026 - 202749 55 
Short-term debt and current maturities of long-term debt$929 $880 
Long-term debt, net of current maturities
$700 million Senior notes
1.80%
2027698 698 
€750 million Senior notes
0.45%2028878 808 
$650 million Senior notes
2.375%2029647 647 
€600 million Senior notes
0.95%2032700 644 
Finance lease liabilities
0.51% - 14.59%
2027 - 2035137 155 
Borrowings for assets acquired under long-term financing
0.00% - 9.78%
2027 - 202924 28 
Other borrowingsVarious2027 - 203516 16 
Long-term debt, net of current maturities
3,100 2,996 
Total debt
$4,029 $3,876 
        

(1)The carrying amounts of the senior notes as of June 30, 2025 and March 31, 2025, include the remaining principal outstanding of $3,698 million and $3,510 million, respectively, net of total unamortized debt (discounts) and premiums, and deferred debt issuance costs of $12 million and $11 million, respectively.


Fair Value of Debt

The estimated fair value of the Company’s long-term debt excluding finance lease liabilities was $3.5 billion and 3.3 billion as of June 30, 2025 and March 31, 2025, respectively, compared with carrying value of $3.8 billion and $3.6 billion as of June 30, 2025 and March 31, 2025, respectively. Long-term debt excluding finance lease liabilities are classified as Level 1 or Level 2 within the fair value hierarchy.